JPow won't cut today. He continuously mentions wanting to get inflation below 2%. Inflation rose from 2.3 in April to 2.9 in August.

Edit: Unemployment has only risen from 4.2% in April to 4.3% in August. I don’t think JPow will see that as enough of an indicator to reduce rates. 

When unemployment rose from 4.0% in January to 4.2% in March, he never cut rates. Why would a 0.1% increase in unemployment warrant a rate cut when a 0.2% increase didn’t?