US Job Growth Steady But Slowing as Markets Fall Ahead of Fed Decision on Rates

US private sector added 113,000 jobs in October, a steady gain that could continue propelling consumer spending. Job growth remains resilient but is slowing from earlier this year.

Ahead of Fed decision, Treasury announced it will auction $112 billion of debt this quarter to borrow expected $776 billion, and $816 billion next quarter.

Markets were down ahead of Fed announcement, with Dow futures falling 100 points. Stocks fell in October amid surging bond yields and mixed tech earnings.

Fed expected to hold rates steady after 11 straight hikes, but could hint if more are coming. Key is if inflation shows signs of reaccelerating.

Even with rate hikes, economy has shown resilience. But higher bond yields are already tightening conditions, so could slow growth soon.