The Federal Reserve may delay raising interest rates after Friday's soft economic data, strategists say.
Peter Costa, president of Empire Executions, told "Closing Bell" on Friday he thinks Janet Yellen may wait until December to raise interest rates again after weak consumer price index data and retail sales were reported Friday. Yellen said she might hike rates again this year in testimony on Capitol Hill.
"I think that with her getting a little more dovish, I think that that may be pushed back until December, which, you know for financials may not be the great thing," Costa said. "But I think the financials are on a totally different footing now."