Worse-than-Expected Jobs Report; Tapering Expected to Continue (CNBC)
Economists expected the September jobs report to add 180,000 non-farm jobs; it added a mere 148,000. Mid-day trading rose for stocks and Treasurys, as the Fed has previously indicated tapering will continue until the employment situation improves. “I think they’re (Fed officials) firmly on hold. It won’t be until March before they have another window. There’s the fog of the data,” said Mark Zandi, chief economist at Moody’s Analytics. “It feels like the economy weakened this summer, and given the shutdown and the brinkmanship, it will weaken further going into next year.”
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