The U.S. economy added the most new workers in a year, reversing September's hurricane slowdown and dropping the unemployment rate to the lowest since 2000, even as wages shed all of their gains of the past 18 months.
President Donald Trump chose Jerome Powell, current Federal Reserve governor, former Treasury official and private sector banker, to lead the U.S. central bank, replacing Janet Yellen whose term expires on February 3rd. Mr. Powell's position is subject to Senate confirmation but he is likely to encounter little opposition.
Business sentiment in the manufacturing sector remained very strong in October despite its decline from September's 13-year high.
American consumer confidence soared to its highest level in almost seventeen years, defying hurricanes, presidential investigations and Congressional gridlock, reinforcing yesterday's strong consumption numbers and suggesting robust growth will continue into the fourth quarter.