Another big jobs report in May has swept aside the possibility of interest rate cuts anytime soon.

The new Fed chair has made his first hires. One wrote the Fed chapter in conservative policy blueprint "Project 2025."

Odds of at least one interest rate increase by year-end rose to 67%, up from 45% last week, according to CME's FedWatch tool.

Another big jobs report in May has swept aside the possibility of interest rate cuts anytime soon.