The US economy added an impressive 303k payrolls in March as the economy continues to outperform expectations and its peers. Revisions to the prior two months saw a net rise of 22k. More than half of the job gains in March came from the government and education & health sectors, which tend to be acyclical. It has been mentioned by several Fed officials in recent weeks that strong payrolls are not necessarily inflationary and do not preclude rate cuts, to the extent that it reflects rising labor supply.