Institutions: The Fed is likely to hold steady at the October meeting

Odaily news: Peter Cardillo, Chief Market Economist at Spartan Capital Securities, said that nonfarm payrolls came in below expectations but still indicate that the job market is in a state of growth. Additionally, wages are not showing inflationary pressure, which is a positive factor. The rise in the unemployment rate may be due to an increase in the labor force participation rate. Overall, this report is favorable for the market. It may help ease the upward momentum in yields and also indicates that the Fed does not need to worry about wage inflation. Combined with the lower-than-expected PCE price index released a few days ago, this means the Fed is very likely to continue holding steady at the October meeting. (Jinshi)