Institution: The latest non-farm employment report may lead the Federal Reserve to consider pausing rate cuts in November
Tim Horan, Chief Information Officer of the Fixed Income Department at Chilton Trust, stated that strong job creation validates the Federal Reserve's actions and indicates a soft landing is imminent. Horan said that September's higher-than-expected 254,000 new non-farm jobs "allows the Fed to be absolutely pragmatic," even considering pausing (cutting interest rates) in November "to digest election results without worrying about falling behind the curve." With a fairly good performance in the job market, the Fed can calmly adjust monetary policy and understand how elected officials plan to handle government spending. Despite officials avoiding comments on fiscal policy, Horan noted that "the Fed has no choice but to worry" about continuously expanding national debt.
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