UBS Director of Floor Operations Art Cashin said on Friday if the Federal Reserve raised interest rates in September it would be "dangerous."
"These guys baffle me. They're supposed to be data dependent and the data isn't all that good, so they're changing their mind again," Cashin told CNBC's "Squawk on the Street." "So, it's a little dangerous."
He added if the Fed should push a rate hike in September it could cause a significant "market shock."
The Fed hasn't hiked rates since December. But prior to the weaker jobs data, Fed Chair Janet Yellen had suggested that a rate increase might come sooner than later.
Federal Reserve Govenor Daniel Tarullo told CNBC Friday that he can't rule out a hike this year. But Tarullo said he wants to see more sustained inflation first.