Jeremy Siegel, professor emeritus of finance at the Wharton School and senior economist at WisdomTree, said on Monday that the September jobs report gives Federal Reserve Chair Kevin Warsh a reason to hold interest rates steady this month. The September 2026 U.S. jobs report showed nonfarm payrolls increasing by a lower-than-expected 29,000 jobs, while the unemployment rate ticked up to 4.2%. After hiking benchmark interest rates by 25 basis points at its September meeting to a target range of 3.75% to 4.00%, Siegel said he thinks Warsh would not want to raise rates so close to the midterm elections slated for early November.
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