White House Economists Believes Fed Rate Hikes May Be Over for 2026, Points to Weak September Jobs Report

Source: International Business Times

White House Council of Economic Advisers Chair Chris Phelan pointed to Friday's employment data and recent comments from Fed officials as reasons the central bank could remain on hold after raising rates in September. Annabelle Gordon/AFP via Getty Images 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.