Chilton Trust: The non-farm payrolls report confirms the Fed's soft landing expectations, which may make the Fed consider pausing interest rate cuts in November

Odaily News Tim Horan, CIO of Chilton Trust's fixed income division, said strong job creation validates the Fed's approach and suggests a soft landing is just around the corner. Horan said the higher-than-expected 254,000 new nonfarm payrolls in September "allows the Fed to be absolutely pragmatic" and even consider pausing (rate cuts) in November to digest the election results without worrying about falling behind the curve. With the job market performing fairly well, the Fed can calmly adjust monetary policy and understand how elected officials plan to handle government spending. Horan said that although officials have avoided commenting on fiscal policy, "the Fed has to worry about" the expanding national debt. (Jinshi)