WSJ Fedwatcher Jon Hilsenrath takes a closer look at the non-farm payrolls report

  • The next Fed meeting is Oct. 28-29
  • It’s harder to say there’s “significant slack” in labor market with the jobless rate dropping below 6% for the first time since July 2008
  • Many officials want to drop an assurance in their policy statement that rates will stay low for a “considerable time” after the Fed’s bond-buying program ends this month
  • Many Fed officials believe they need not panic about falling behind the curve on raising interest rates