Wharton’s Jeremy Siegel: September jobs report was ‘wonderful’ for Fed Chairman Warsh

I think that it was uh just a wonderful report um for Kevin Worsh uh a Goldilocks report and let me tell you why. It was weak on the headline uh statistics. You know, we had a few basis points up on the unemployment rate that rounded it up one10enth and it was weak on the payrolls, but below the surface there was a lot of strength. I mean that that increase in the participation rate which you know had been climbing for a long time. Uh we actually had an increase in the work week which had also been uh declining. So the headline numbers gives Walsh cover to hold on October. You know it's six days before the midterm. I I don't think he wants to raise. He wants to be quote neutral then. uh and that I think gave him the green light to do so.