U.S. Labor Market Is Strong, but Weak Global Picture May Delay Fed Hike

The Federal Reserve is watching global conditions ahead of its all-important March meeting, even as the markets await Friday’s jobs report. ‘I think the labor picture is fairly stellar in the U.S., but I think global conditions might very well prevent the Federal Reserve from doing anything too soon to prevent any sort of upheaval or volatility in the markets that we’ve come so used to,’ said Brenda Kelly, head analyst at London Capital Group, based in London. Analysts expect the economy to add 190,000 jobs in February. The slide in oil prices and worries about China’s economy is sitting in the backdrop of encouraging U.S. economic data, pushing the Fed into a difficult corner as it looks to move the economy away from crisis-era interest rates. TheStreet’s Scott Gamm has details from Wall Street.