Fed's HAMMACK said Friday September nonfarm payrolls—about 29,000 added and the
Unemployment rate rising to 4.2%—are consistent with recent hiring trends.
Payrolls averaged roughly 41,000 per month over the past 12 months, near her
estimate of the sector's breakeven and indicative of stable hiring. She said the
Fed will receive substantial incoming data before the end-of-month meeting,
leaving ample time to determine the appropriate policy stance to fulfill its
mandate.
