The debt ceiling. On Thursday, Treasury Secretary Jacob Lew warned that the US would exhaust its ability to borrow on November 5 unless Congress increases the debt ceiling. Emerging economies such as Brazil and Turkey are struggling to grow at all.
In a speech late Thursday, Fed Chair Janet Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank’s policy.
The jobless rate, which is derived from a separate survey of households, was unchanged only because 350,000 workers stopped looking for work last month and were no longer counted as part of the labour force.
The Dow Jones Industrial Average dropped as much as 259 points in early trade, but recovered somewhat to trade 62 points, or 0.4, higher at 16,335, with losses in financials including (http://www.marketwatch.com/story/ugly-jobs-report-is-punishing-financial-stocks-2015-10-02)J.P....
The newest report came just two weeks after the Fed decided that the economy’s advance was still too fragile to risk lifting interest rates from their near-zero level, even as it hinted that it might go ahead by December.
The weak September jobs report and downward revisions to the prior two months raised fresh fears about the health of the USA economy, which appears to have weakened amid a slowing global economy and recent market turbulence.