Federal Reserve Looks Unlikely to Raise Rates in October After Weak Jobs Data
Dow Jones
1 hour ago
1345 GMT - The U.S. Federal Reserve is unlikely to increase interest rates in October after weak inflation data and jobs data released this week, ABN Amro's Rogier Quaedvlieg says. Data Friday showed the U.S. added 29,000 nonfarm payrolls in September, below the consensus forecast of 84,000 jobs by economists in a WSJ poll. The personal consumption expenditures price index data for August released this week also came in weaker than expected. The data removes the pressure on the Fed to raise interest rates in October, Quaedvlieg says. Markets expect a 20% chance of a Fed rate hike in October, down from an over 70% possibility priced in at the start of this week, LSEG data show.
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