Tim Horan, CIO of fixed income at Chilton Trust, 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 in November to digest the election results without having to worry about falling behind the curve.

With the job market performing fairly well, the Fed can adjust monetary policy at its leisure, knowing how elected officials plan to handle government spending. Horan said that although officials avoid commenting on fiscal policy, "the Fed has to worry" about the swelling national debt. (Jin Shi) #ETH