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Fed cautious on interest rate hikes due to slower hiring
U.S. labor market data for September showed a significant slowdown, with only 29,000 jobs added compared to an expected 90,000. The unemployment rate rose to 4.2%, and wage growth slowed. These figures, along with rising inflation concerns—which remain at 3.4%—led to a reduction in the likelihood of the Federal Reserve raising interest rates at its late October meeting to around 17%. Expectations of a possible increase in December remain. Future decisions will primarily depend on the review of inflation indicators, energy prices, and geopolitical developments.
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