Paul Vigna/The Wall Street Journal
The October jobs report came in far stronger than anybody expected, and in its wake most folks on the Street immediately drew one conclusion: The Fed is going to raise interest rates in December.
On the Financial Food Fight podcast, Barron’s Jack Otter, Marketwatch’s Chuck Jaffe, and Erik Holm and Paul Vigna from MoneyBeat discussed the jobs report and what it means for the economy and Federal Reserve. The hot headline didn’t mean the economy has suddenly made a dramatic turn, and that means that the bottom line could come down to a familiar source: holiday sales. If you think a December hike is a done deal, give a listen.
Also, the crew turned their attention to bitcoin and its wild ride this week. The digital currency careened from a bear market to a bull and back to a bear again. Is that any way to run a currency?