Navarro: The Jobs Report Reveals Federal Reserve Election Interference

What happened: Navarro argues the September jobs report shows a labor market near breakeven and disputes the Fed's September rate hike, calling it election interference 48 days before the midterms. Key numbers: Payrolls 29,000; unemployment rate up a tenth; labor force participation 61.8 percent; prime-age employment 80.7 percent; private jobs +46,000; government -17,000; manufacturing +9,000; CPI 3.4 percent Why it matters: Navarro says there is no demand-side inflation for a hike to cure and nothing in the report justifies tightening again in October, questioning who is running the Fed.

Navarro argues the September jobs report shows a labor market near breakeven and disputes the Fed's September rate hike, calling it election interference 48 days before the midterms.

Navarro says there is no demand-side inflation for a hike to cure and nothing in the report justifies tightening again in October, questioning who is running the Fed.