The August jobs report showed that the U.S. added 151,000 jobs, fewer than most Wall Street economists were expecting, while the unemployment rate remained unchanged at 4.9 percent. With that in mind, Dwyer believes that investors can operate under the notion that the Fed will not make a move in 2016.
"They told you it's going to be a fat pitch down the middle. Are you going to take the strike or hit a homer?" asked Tony Dwyer on CNBC's "Fast Money" this week.
Markets are fixated on when the Fed will begin withdrawing some of its crisis-era stimulus, with interest rates at rock-bottom levels. Conventional wisdom suggested the central bank could hikeas early as Septemberafter months of delay and speculation, but Dwyer thinks differently.
"I don't think they'll hike in September," explained Canaccord Genuity's chief market strategist. "The economic cycle is not about duration. The economic cycle is driven by Fed policy, short-term interest rates, which create strength in the long-end of the curve."