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U.S. jobs data could be the Fed's cue to hike or hold

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A new U.S. employment report on Friday will show whether the labor market continued to moderate through September in what could be an important waypoint for Federal Reserve officials deciding whether to push ahead with another interest rate increase this year or sit tight.

The report will be released at 8:30 a.m. , based on surveys conducted before a United Auto Workers strike could influence the outcome.

The Fed at its September meeting held the target federal funds rate in the current range of from 5.25% to 5.5%, and next meets on Oct. 31 to Nov. 1. The steady job growth and persistent low unemployment rate this year has surprised many economists and policymakers who expected the fast rate hikes of the last year and a half would have done more to slow demand, economic growth and hiring.

 

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