Craig thinks Fed will stick with one hike in December

Posted on May 6, 2016
Job numbers came in much lower than expected Friday. (Flickr/Money20sFkr401K2012 630x420)
Job numbers came in much lower than expected Friday. (Flickr/Money20sFkr401K2012 630×420)

By Terry James

Jobs numbers on Friday came in 40,000 under expectations. Sean Craig with Investment Planners INC. explains why we may only see one interest rate hike this year.

“I think a lot of it was what Janet Yellen was saying earlier- they are data dependent,” said Craig. “So they were looking at all the data figures and I think by this data figure right here, and then they don’t like to do it too close to an election in November so I think they pretty much have probably taken June off the table and it probably will just be December.”

Craig said the low jobs number can be tied to the massive layoffs in the oil industry. Louisiana alone has lost 12,000 jobs in the oil industry.

Terry James can be reached at [email protected].

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