Not raising rates took many by surprise. After all, our economy is plugging along and rates have never been held this low for so long, etc., etc. I am sure there is some sound concern regarding what is going on in China and elsewhere, as there should be, as a justification for not raising them. But is there more here than meets the eye?
Chinese President Xi Jinping will meet U.S. tech titans and tour Boeing Co's biggest factory and Microsoft Corp's sprawling campus near Seattle this week as he kicks off a U.S. visit that also includes a black-tie state dinner at the White House hosted by President Barack Obama.
The markets opened up more than 100 points in the first hour of trading as investors seem content to wait out the markets this week ahead of the Federal Reserve's September FOMC meeting, where the central bank will decide whether it will hike interest rates for the first time since 2006.
U.S. payrolls rose less than expected in August, but a drop in the unemployment rate to a near 7-1/2-year low of 5.1 percent and an acceleration in wages kept alive prospects of a Federal Reserve interest rate hike later this month.