Seema Shah, chief global strategist at Principal Asset Management, said: Everyone knows that economic weakness is imminent, and the non-agricultural data allows us to rest assured that the labor market is showing strong performance in this policy-driven shock, so the economic slowdown should not be too drastic. From the Federal Reserve's perspective, today's employment data won't stop them from cutting interest rates in the future—they know it's just a moment of calm before the storm hits. The Federal Reserve is likely to provide some stimulus over the next few months. But given that the recession was a government-driven shock, not a central bank-driven shock, the Federal Reserve could only ease marginal pain.

Seema Shah, chief global strategist at Principal Asset Management, said: Everyone knows that economic weakness is imminent, and the non-agricultural data allows us to rest assured that the labor market is showing strong performance in this policy-driven shock, so the economic slowdown should not be too drastic. From the Federal Reserve's perspective, today's employment data won't stop them from cutting interest rates in the future—they know it's just a moment of calm before the storm hits. The Federal Reserve is likely to provide some stimulus over the next few months. But given that the recession was a government-driven shock, not a central bank-driven shock, the Federal Reserve could only ease marginal pain.