White House Council of Economic Advisers Chair Chris Phelan said he does not expect the Federal Reserve to raise interest rates again this year after a weaker-than-expected September jobs report added to evidence that inflation and the labor market are cooling.
Phelan pointed to Friday's employment data and recent comments from senior Fed officials as reasons the central bank could remain on hold after raising rates in September. "I think with today's job market data, and a speech by the [Fed] vice chairman, I think the market is now no longer expecting another rate hike," Phelan told Yahoo Finance on Friday.
