Fed likely to delay taper after disappointing U.S. jobs data
American employers created fewer jobs in September than forecast, raising expectations that the US Federal Reserve will keep pumping money into the world’s largest economy at the same rate for several months yet.
Stock markets rose on Tuesday as investors bet that the central bank would keep on buying bonds at the rate of $85bn a month until next year, and potentially even increase that figure to help fuel America’s still-fragile economic recovery.
America added 148,000 jobs in September, according to delayed figures from the US Labour Department – far short of analysts’ forecasts of 180,000 jobs, and the 193,000 extra jobs created in August. The increase was also well below the average increase of 181,000 jobs a month which America has seen since the start of the year.
The firing of two nuclear commanders in a week adds to a body count that suggests we have either the most corrupt and incompetent general staff in history or our military is being reshaped for other purposes.
The Obama administration, which has fired no one over scandals such as its Fast and Furious Mexican gun-running operation, its criminal negligence in the terrorist attack on our Benghazi diplomatic mission, or the use of the IRS to target and intimidate political foes, seems to have a curious obsession lately about ethics and competence in the U.S. military.