The latest non-farm payrolls report may make the Fed consider pausing rate cuts in November

Chilton Trust fixed income chief information officer Tim Horan said strong job creation confirms the Fed's approach and indicates that a soft landing is just around the corner. Tim Horan said that the higher-than-expected 254,000 new non-farm payrolls in September "allow 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. Tim Horan said that although officials avoid commenting on fiscal policy, "the Fed has to worry about" the expanding national debt.