Agency: Fed is likely to remain on hold at October meeting

Odaily Planet Daily News Peter Cardillo, chief market economist at Spartan Capital Securities, said that the number of new non-farm jobs was lower than expected, but it still shows that the job market is growing. And there is no inflationary pressure on wages, which is a positive factor. The increase in unemployment may be due to an increase in the labor force participation rate. Overall, this report is positive for the market. It could help ease the rise in yields and show the Fed doesn't have to worry about wage inflation. Combined with the lower-than-expected PCE price index released a few days ago, this means that the Fed is likely to remain on hold at its October meeting. (Golden Ten)