* Financial markets broadly speaking aren't in trouble, or signaling skepticism about the Fed's commitment to keeping rates low for years to come. * Households and businesses that are in trouble need grants, which the Fed can't provide, not lower borrowing costs, which is what the Fed already has delivered. * And to top it off, Fed policymakers say, the rapid spread of the virus means now is not the time to ramp up stimulus.
With Congress mulling a compromise stimulus package, and COIVD infections surging by more than 200,000 per day, Friday's November jobs report could be crucial to market direction between now and the end of the year.
More workers left the job market last month, while only 245,000 new positions were created amid a record rise in November COVID infections, the Bureau of Labor Statistics reported showed Friday.