Don't expect the Federal Reserve to hike interest rates next week. They are way too cautious to rock the boat with inflation still so low, said Brett Wander, fixed income chief investment officer at Charles Schwab Investment Management (SCHW) . 'The recent stock market volatility is not helping,' said Wander. 'If they do raise rates it will be in December and we only see a 50% chance of that happening.' Wander added that employment is on a positive track, but the low level of inflation is 'not enough to offset the positives going on in the economy.' For years, the equity market has benefited from historically low interest rates, which make a company's debt financing less expensive, and hopefully spurs economic growth. The disappointing August jobs report was no exception. The equity market opened significantly higher after the report on hopes that the Fed will hold off raising interest rates this month. So, for equity investors, bad news was likely good news.

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