The Labor Market, & The Venezuela Factor 10/7/22

The Labor Department has reported that 263,000 jobs were added in September, and the unemployment rate fell to 3.5%. The numbers will likely encourage the Federal Reserve to stay the course, on their aggressive rate hike policy to curb inflation. In the aftermath of the OPEC+ decision to cut oil output by 2 million barrels a day, the U.S. is exploring an ease of its sanctions on Venezuela in an effort to both boost oil flows, ease domestic energy market pressures, and push Russia and Saudi Arabia out of South America. Former CNBC anchor and current member of the Council on Foreign Relations Michelle Caruso-Cabrera breaks down President Biden’s geopolitical strategy. Plus, President Biden has pardoned thousands of people convicted of marijuana possession, global investors remain concerned that Credit Suisse is having liquidity issues, and Elon Musk is working to avoid a trial with Twitter.

In this episode:

Tsedal Neely @tsedal

Michelle Caruso-Cabrera @MCaruso_Cabrera

Becky Quick @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Cameron Costa, @CameronCostaNY

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