Forget about rate cuts this year. The Federal Reserve is not budging, no matter how much Wall Street begs for a break. Inflation is being stubborn, the labor market refuses to chill, and the government is racking up deficits like there’s no tomorrow.

Stock futures were pointing to further losses on Monday, suggesting the market still isn't over a blockbuster jobs report that has investors questioning if the Federal Reserve will lower interest rates at all this year.

The December jobs report has sparked significant concerns in financial markets. It revealed a disconnect between the Federal Reserve’s recent monetary policy decisions and economic reality. The report showed stronger-than-anticipated job growth,

Federal Reserve officials at their meeting Dec. 17-18 expected to dial back the pace of interest rate cuts this year in the face of persistently elevated inflation and the threat of widespread tariffs and other potential policy changes.