by John Binder
Breitbart.com
Will the Fed Double Down on September’s Mistake?
The September jobs report was a jolt to the system, upending expectations for the Federal Reserve’s next moves.
The addition of 254,000 jobs in September—well above the 140,000 forecast—paired with a dip in the unemployment rate to 4.1 percent, makes one thing clear: the labor market has not significantly weakened. It’s powering ahead.
Wage growth came in stronger than expected at four percent, further complicating the Fed’s narrative that the economy needs propping up with lower rates. After the Fed’s surprise 50-basis-point cut in September, the burning question now is whether the central bank overplayed its hand.