Peter Cardillo: Non farm data is positive for the market, the Federal Reserve may remain inactive in October

Peter Cardillo, Chief Market Economist at Spartan Capital Securities, stated that the number of non farm new jobs is lower than expected but the job market is growing, wages are not under inflationary pressure, and the increase in unemployment rate is due to the rise in labor force participation rate. This report is beneficial to the market and will help alleviate the upward trend in yields. Combined with the lower than expected PCE price index, the Federal Reserve is likely to remain inactive at the October meeting. (Source: Jin Shi) AI interpretation: The slowdown in non farm employment growth and controlled wage pressures directly weaken the risk of inflation rebound. The increase in labor participation rate has improved the structure of labor supply and effectively alleviated the tightening pressure caused by the overheated job market. Maintaining interest rates unchanged is an inevitable choice for the Federal Reserve in the current dual balance of employment and inflation. The market's concerns about tightening policies will dissipate, and asset prices will receive clear support.