I don't think this report guarantees a pause, but it doesn't stand in the way of a pause if the Fed feels it's something they should look at.

I think this employment report shows that the laws of gravity do apply to monetary policy,

The report illustrates the fact that housing is not defying gravity and is not likely to do so this year. We're going to see chipping away of housing.

After this road trip, I think it will say a lot about us and where we stand.

I think this is an important first step for the central bank. They didn't want to lower rates too aggressively for fear of sending a signal to the markets that they thought things were completely falling apart.

This report may give pause to some of the optimists looking for a stronger second half, ... We need a real boost if we're going to reverse some of these trends that are even more negative than we thought they were.