The Federal Reserve decided to hold interest rates steady while acknowledging improvements in the labor market. Citi Wealth Interim chief investment officer Steven Wieting shares his perspective on the Fed's decision and its implications for the job market on Market Domination.

"If you want a story of collapse, you're not going to get one," Wieting observes. He notes that while the labor market is cooling overall, there still remains some weakness and recent jobs reports show "an overstatement of strength."

"I think [Fed Chair Jerome] Powell... in a short while will probably explain to the broader public that this isn't just about recession," Wieting tells Yahoo Finance. He elaborates: "This is really about the fact that we set monetary policy to be restrictive, and we have to ease back from that if we want to maintain a very full employment situation."

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This post was written by Angel Smith