Federal Reserve speaker Nick Timiraos wrote that the September employment report will hardly prompt Federal Reserve officials to change their core judgment on the economy, while also removing a major potential obstacle to keeping interest rates unchanged this month. The report gave little signal that the labor market is being tightened again, thereby increasing price pressure. This is the most critical change. Senior Federal Reserve officials sent a signal this week that after the rate hike last month, they want to set aside more time to assess the evolution of inflation, and the employment report released on Friday gave them room to wait and see. The pace of recruitment slowed in September, and the revised data showed that summer employment growth was slightly lower than previously announced. The unemployment rate rose from 4.1% to 4.2%, but the increase was actually not as significant as it might seem: raw, unrounded data showed that the unemployment rate only rose slightly from 4.14% to 4.18%. Compared to the monthly addition of non-farm payrolls, Federal Reserve officials pay more attention to the unemployment rate. If there is a significant decline in the unemployment rate, it means that upward pressure on labor costs is heating up, which will make it more difficult for Chairman Kevin Walsh and his colleagues to decide whether to raise interest rates again this month. However, Friday's employment report did not send such a signal. The September consumer price index, which will be announced on October 14, may have a greater impact on the timing of subsequent interest rate hikes and the end of the current austerity cycle.

Federal Reserve speaker Nick Timiraos wrote that the September employment report will hardly prompt Federal Reserve officials to change their core judgment on the economy, while also removing a major potential obstacle to keeping interest rates unchanged this month. The report gave little signal that the labor market is being tightened again, thereby increasing price pressure. This is the most critical change. Senior Federal Reserve officials sent a signal this week that after the rate hike last month, they want to set aside more time to assess the evolution of inflation, and the employment report released on Friday gave them room to wait and see. The pace of recruitment slowed in September, and the revised data showed that summer employment growth was slightly lower than previously announced. The unemployment rate rose from 4.1% to 4.2%, but the increase was actually not as significant as it might seem: raw, unrounded data showed that the unemployment rate only rose slightly from 4.14% to 4.18%. Compared to the monthly addition of non-farm payrolls, Federal Reserve officials pay more attention to the unemployment rate. If there is a significant decline in the unemployment rate, it means that upward pressure on labor costs is heating up, which will make it more difficult for Chairman Kevin Walsh and his colleagues to decide whether to raise interest rates again this month. However, Friday's employment report did not send such a signal. The September consumer price index, which will be announced on October 14, may have a greater impact on the timing of subsequent interest rate hikes and the end of the current austerity cycle.