The October jobs report on Friday provides a domestic green light for the Federal Reserve to raise rates when its policy-making committee meets on Dec. 15-16. Whether it ends up doing so will be a function of two things: whether the balance of the U.S. data in the next six weeks is consistent with the report (which I think will be); and whether international conditions remain as calm or calmer than they are today (more of a question mark, though the Fed can have a beneficial influence).
Read Full Article »