Is this why Powell ruled out a March rate cut on Wednesday?

<p>Supposedly, White House and other US officials don't get to see the non-farm payrolls data until the afternoon before it's released. If I were in charge, no one would see it until it was released.</p><p>I have to wonder if FOMC officials got an early look at this report as well, or at least a tap on the shoulder that it would be strong. That would go some way to explain why Powell pushed back against March.</p><p>For sure you could make the argument that he should have done that anyway, because there has been plenty of strong data, but I wonder…</p><p>As for the FOMC, the March meeting is down to 19%. Even if February payrolls are negative, I don't think you can cut there after this (barring a banking crisis anyway). As for the May 1 meeting, it's now down to 90%.</p>

This article was written by Adam Button at www.forexlive.com.