Analyst: September non-agricultural data supports the Fed’s suspension of interest rate hikes

Odaily Planet Daily News Brian Jacobsen, chief economic strategist of Annex Wealth Management, said that the U.S. job market is not as strong as initially thought. July's data was revised down to negative growth, and while there was a decent rebound in August, the rebound came to an abrupt halt in September, when only 29,000 jobs were added. The employment diffusion index fell back below 50. Fed Chairman Warsh had been worried about the breadth of inflation, but now he will have to consider the lack of breadth in the job market. The data supports a pause in interest rate hikes in October. (Golden Ten)