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Watch Art Cashin: Why Fed could 'taper the taper'

Art Cashin says the Federal Reserve could slow the pace of its reductions in asset purchases, especially if Friday's weak jobs number turns out not to be a fluke.

Cashin, UBS' director of floor operations at the NYSE, told CNBC's Bob Pisani around midday that "the pundits are saying, 'Don't pay any attention to that non-farm payrolls. It's weather-related. It's an anomaly. A fluke.' And yet, if you look over at the bond market, they don't think it's weather-related. Apparently not... The yield on the 10-year (U.S. note) went much lower on Friday and is still a little bit lower today. So they seem to believe that the Fed, at least, will consider tapering the tapering."

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