Jobs Up. Rates Next.
Steady job growth continues in November jobs report. NYT: "The American economy created 211,000 jobs in November ... The unemployment rate held steady at 5 percent ... wages rose by 0.2 percent, leaving the 12-month change in average hourly earnings at 2.3 percent ..."
Fed now poised to raise interest rates. Bloomberg: "Federal Reserve officials have signaled that an interest-rate increase is in play for their December meeting, with both markets and economists now anticipating that normalization will begin less than two weeks from now. That means the payrolls data will probably offer more information about the pace of tightening in the months ahead than on the timing of the first hike."
Transportation Bill, With Ex-Im, Goes To Obama
Transportation bill goes to Obama's desk. The Hill: "The measure passed by a 83-16 tally, hours after sailing through the House on a lopsided 359-65 vote ... Democratic Sens. Tom Carper (Del.) and Elizabeth Warren (Mass.) and 14 Republicans, including GOP presidential candidates Sens. Ted Cruz (Texas), Rand Paul (Ky.) and Marco Rubio (Fla.), voted against the legislation."
Includes Ex-Im Bank restoration. NYT: "The bank, which provides loan guarantees and other benefits to spur United States exports, had been under sharp attack for months from conservative lawmakers and activists with ties to the Koch brothers’ political network, which assailed it as a form of corporate welfare and crony capitalism ... But a clear congressional majority of Republicans and Democrats swung behind the bank..."
Senate Republicans put Obamacare repeal in budget reconciliation measure. The Hill: "Republicans hailed it as a political messaging victory and a fulfillment of their promise from the 2014 midterm election to force President Obama to veto the landmark healthcare reform law named after him."
Senate turns to education reform bill. The Hill: "The Republican leader Thursday night filed cloture on the House-Senate compromise legislation, which passed the House by a 359-64 earlier this week. The move tees up a procedural vote in the Senate on Tuesday, paving the way for a vote on final passage next week."
Ryan Offers Thin Vision
Speaker Ryan offers few details in speech describing conservative vision. NYT: "Though he offered few specifics, Mr. Ryan, in his address, laid out plans to pursue a sweeping overhaul of the tax code ... He also said that he would lead Republican efforts to develop trade agreements that would benefit American manufacturers, and to strengthen the military ..."
Ryan speech aims to unify Republicans. Yahoo! News: "...Ryan’s remarks, instead of rallying voters or prompting the party at large to rethink itself generally, seemed specifically aimed at getting the conservative members of the House Republican caucus ... to join the challenging campaign Ryan now faces: finding legislative purpose and party cohesion in the House."
