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Fed cautious on rate hikes amid hiring slowdown
The US labor market data for September showed a slowdown in employment, with the American economy adding only 29,000 jobs compared to expectations of a 90,000 increase, and the unemployment rate rose to 4.2%. These numbers, along with the slowdown in wage growth, have led the Federal Reserve to hesitate in raising interest rates at its upcoming meeting at the end of October, with increasing prospects of a hike in December. Forthcoming inflation indicators are expected to be crucial in determining the central bank's future decisions.
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