"New Federal Reserve News Agency": The September employment report does not help resolve internal divisions within the Federal Reserve
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Timiraos believes that the September non-farm payroll report further deepened the divisions within the Federal Reserve. On one hand, hiring activity rebounded, and the employment increase exceeded expectations, which may give the inflation-focused "hawks" more confidence in opposing another rate cut. On the other hand, the unemployment rate rose to 4.4%, the highest in four years, and the employment growth data for July and August was also revised down, with August being the second month this year to see a net decline in employment
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