Economy Adds 211,000 Jobs in November, Fueling Fed’s December Rate Hike

After Friday’s strong jobs report, the Federal Reserve has more than enough reasons to raise interest rates when it holds its last policy meeting of the year in just 12 days. That’s the assessment of Moody’s Analytics capital markets economist Ben Garber, who expects the Fed to pull the trigger for the first time in nearly decade during its December meeting. The economy added 211,000 jobs in November and September’s numbers were revised to 145,000 from 137,000. Plus, October’s numbers were pushed to 298,000 from 271,000, showing more strength in the labor market than previously expected. Investors are pricing in a 79 percent chance of a December liftoff after Friday’s better-than-expected report, compared to 75 percent on Thursday. TheStreet’s Scott Gamm speaks with Garber.