Peter Cardillo, chief market economist at Spartan Capital Securities, said that the report was lukewarm and was exactly what the Federal Reserve wanted to see. We have not seen a recovery in wages, jobs are still being created, and the economy is performing well. However, the key point of the report is wage levels, which are lower than expected by the market. This is a good report for the Federal Reserve, and a good report for the market. If we continue along this path, then this may change the timing of interest rate cuts, which may mean that interest rates will probably be cut twice this year instead of once.