Fed Divided on Need for Further Rate Hikes as Jobs Remain Strong and Yields Rise

The Federal Reserve is divided on whether more interest rate hikes are needed to tame inflation or if rates can be held steady.

Strong job growth in September contradicts the Fed's goal of cooling the labor market to reduce inflation.

Higher Treasury yields from bond sell-offs may cool the economy enough for the Fed to pause rate hikes.

Markets see a high chance the Fed holds rates steady at its next meeting, but more hikes are still possible.

Key upcoming economic data like CPI could influence if the Fed raises rates again or pauses.