US Market: Fed’s Hammack says jobs data gives time to assess rate path

The US Federal Reserve's Cleveland President, Beth Hammack, has stated that the recent jobs data provides time for policymakers to assess the interest rate path. This suggests that the Fed may not make any immediate changes to interest rates. The weak employment report in September is seen as consistent with recent labour-market trends, indicating a stable but slowing hiring pace. This stability gives the Fed more time to weigh employment and price stability before their next rate decision.

Why it matters

The Fed has signalled that it has time to assess incoming economic data before making further changes to interest rates. This means that the Fed is taking a wait-and-see approach, which could lead to a period of stability in the US economy.

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