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Chairman Powell adds that he wouldn't resign if asked by Trump.

Fear that wage gains will stoke inflation may lead the Fed to tread more carefully in its interest rate decision this afternoon.

Retirement plans were a hot button issue for union workers, but Boeing says pension plans are "prohibitively expensive."

"They'll create a lot of shock waves, and opportunity. This next year is going to be volatile."

This is the slowest pace of hiring in the United States since 2020, but the unemployment rate remained low, as numbers were distorted by hurricanes and a major strike at Boeing.

Hurricanes and the Boeing strike likely drove payrolls lower in October, but the weak employment report keeps officials on track to reduce interest rates by a quarter point next week.

The spending report bolsters the case for a slower pace of interest rate cuts following last month's outsized reduction.

GDP rose by more than 2.5% for a sixth consecutive quarter, "the longest stretch of such solid growth since 2006."