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US job growth slows; Fed's October rate decision?
The US labor market report shows an unexpectedly slow pace of employment growth last month, with only about 29,000 jobs added compared to the forecast of 90,000 jobs. This figure is also lower than previous estimates after revising August data. Experts believe that this slowdown increases the likelihood that the Federal Reserve will not raise interest rates again at its October meeting, especially as inflation continued to rise to 3.4% in August, surpassing the 2% target, despite being below previous expectations. It appears that officials are taking a cautious stance, closely monitoring price indicators amid expectations of continued vigilance before making any decision at the upcoming meeting.
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