Economy Week Ahead: US Jobs Report, Fed Meeting
Looking to the week ahead, the Fed meets to discuss monetary policy while the US October jobs report comes out and may raise or lower hopes for the outlook of the global economy.
Most experts agree the Fed will not raise rates after its two-day meeting ends Wednesday. Instead investors are looking for signs to indicate the Fed will act in December, the Wall Street Journal reports. Fed officials signaled a 25 basis point increase by the end of the year and most economists expect that jump to come in December.
On Friday the October jobs report will be released—it’s the last one before the presidential election and will give candidates data that either undermines or confirms their story on the American economy. Nonfarm payrolls are forecast to climb from last month’s 156,000 to 173,000 while the unemployment rate is expected to fall from 5% to 4.9% after holding steady for almost a year. [WSJ]
