Chilton Trust CIO: Strong employment data foreshadows a soft landing for the Fed

On October 5, Tim Horan, CIO of Chilton Trust's fixed income division, said that strong job creation confirmed the Fed's policy and suggested a soft landing was coming. Horan pointed out that the unexpected 254,000 new non-farm payrolls in September made it possible for the Fed to pause (rate cuts) in November in order to "digest the election results without worrying about falling behind the curve." With a strong job market, the Fed can calmly adjust monetary policy and observe how elected officials handle government spending. Although officials did not comment on fiscal policy, Horan still emphasized that "the Fed has to worry about" the growing national debt.

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