Fed official: Jobs data delays rate decision

Beth Hamack, President of the Federal Reserve Bank of Cleveland, stated that the US September employment report shows a stable labor market with a modest increase in employment of 29,000 jobs and the unemployment rate rising to 4.2%. She explained that the average job creation over the past 12 months has been about 41,000 jobs per month, indicating a stable labor market, and that the Federal Reserve continues to assess the data before making a decision on interest rate hikes. Despite this, the Fed remains committed to a gradual increase to combat inflation, which remains elevated.

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