[Federal Reserve Chair Candidate Hassett: 'Very Bad Timing' to Pause Rate Cuts] After the U.S. Bureau of Labor Statistics released a stronger-than-expected September nonfarm payroll report, some Wall Street institutions raised the probability that the Federal Reserve will not cut rates in December. On Thursday evening, JPMorgan withdrew its forecast for a 25 basis point rate cut by the Fed in December, now predicting the next rate cuts will occur in January and April next year. Kevin Hassett, the Federal Reserve Chair candidate nominated by Trump and Director of the White House National Economic Council, stated that pausing rate cuts would be 'very bad timing,' as the government shutdown has already dragged down fourth-quarter economic growth, which is expected to reduce GDP by 1.5 percentage points. He also pointed out that the September CPI showed inflation was better than expected, but the employment report is insufficient to offset other economic headwinds.