The Federal Reserve’s plans to lower interest rates this year could be put on hold due to a confluence of factors: robust US economic growth, stubbornly high oil prices, and ongoing global uncertainties.

Oil prices continued to climb Thursday, erasing earlier losses and settling at their highest point since October 2023.

The latest job growth data has smashed past expectations with US employers adding 336,000 new jobs vs 170,000 expected.

The latest U.S. inflation data from this week would suggest a slowdown in the rate of inflation – signalling an end to rate hikes this year.