1998 Jeep Cherokee Car makes noise while coasting

Noises problem
1998 Jeep Cherokee 6 cyl Four Wheel Drive Automatic

My fiance was driving into work this morning and noticed that there was a noise when the car was coasting. This afternoon, I drove the car and noticed the same noise. What it sounds like is almost a flat tire, however all tires are inflated correctly. When I got out, I noticed that a bracket close to the exhaust system was loose and moving back and forth. Is it possible that this bracket is the culprite? If not what coule this noise be?