Trump's cabinet nominations reveal a swamp not drained

For many the old adage that “politics make strange bedfellows,” is an ongoing maxim, but if the selection of the Trump cabinet is any indication, then there are no strangers here, only those like minded men and women, designed to both keep and preserve the Republican playbook. In a seeming reversal of his campaign rhetoric that was soundly against Wall Street and its denizens, read Hillary Clinton, Trump has not drained the swamp, instead he has refilled it with those he once reviled -- career politicians and those seasoned veterans of official Washington.

Just as much of the country was reeling -- or applauding - Steve Bannon as White House counsel, and his association with white supremacists, and wanting women in their most traditional of roles, then came others: Gov. Nikki Haley of South Carolina as United Nations ambassador with near zero foreign policy experience, who during the campaign was Trump's most ardent critic. But, now she has said: "When the President believes you have a major contribution to make to the welfare of our nation, and to our nation's standing in the world, that is a calling that is important to heed," Haley said. "The second is a satisfaction with all that we have achieved in our state in the last six years and the knowledge that we are on a very strong footing."

If some were scratching their heads in confusion and saying, “What the heck,” then welcome to the wide, and wonderful, word of national politics where nearly anything goes. But, some are questing even that slice of conventional wisdom, and wonder if there is a method to his madness. Is Trump reigning in his critics to keep them away from damaging his nascent excursion into federal politics, now that he has captured reality television, or is he shooting fish in a barrell?

Those who believe that Vice-President elect Mike Pence is his Richelieu, might be startled that the neophyte politician, just might have a battle plan. Little is known of the inner recesses of Trump’s cerebral cortex, but conventional wisdom says that the Haley appointment and maybe even, in an even madder world, that Mitt Romney agrees to be secretary of state, might have something to do with keeping your enemies close.

In the not too distant past this was not unheard of --- recall Hillary Clinton safely out of the Senate (where she could have been an ardent critic) and as Barack Obama’s secretary of state, where she had to report into the Oval office. The youthful Haley, a possibility for an Elizabeth Dole style presidential candidate, in the future, might be better in the safety net of the U.N. ambassadorship, than a loose cannon, and critic from the South. This proves that Trump, unlike like Rhett Butler, might just give a damn.

What is certain are the targets in the shooting gallery of the Clinton-Obama legacy, are in the crosshairs, much like Richard Nixon and Ronald Reagan took apart, whenever they could, most of the Kennedy-Johnson legacy. First to go, of course is the Affordable Care Act, the so-called Obamacare, that has got more Republicans in a lather than the Burma man. Tuesday’s announcement that Rep.Tom Price of Georgia, also a physician, is Trump’s appointment for Health and Human Services secretary, puts the final nail in the ACA, as we know it. He is also feared to have a devastating effect on women’s health, should he be confirmed.

A bit of demagoguery doesn’t hurt, so says Price when he said: “There is a vile liberal agenda that is threatening everything that we hold dear as Americans.” Suddenly, it does not feel like Kansas anymore, nor does it feel like the days when Ted Kennedy and Bob Byrd sat down for a bourbon in the Senate cloakroom.

There may be a little “tit-for-tat” diplomacy here, since “many Republicans, including House Speaker Paul D. Ryan (Wis.), wavered in their attitudes toward Trump during his campaign, Price was a devoted foot soldier. In May, he organized a joint statement by nine GOP House committee chairs, pledging loyalty to Trump and calling on “all Americans to support him”, noted the Washington Post.

While Price is no lightweight, (and a longtime donor) ,despite his hidebound conservatism, Haley and Bannon seem to be there to counter any criticism of lacking gender diversity. Bringing up that flank is the ultimate Washington insider, so much so, that we hear a portion of the beltway might be named for her, is Elaine Chao, wife of the Republican majority leader, Mitch McConnell (R-KY), and former labor secretary, under George Bush, who made her cabinet debut as an Asian American woman, netting Bush some diversity cred.

Her task, should she accept it, is to help rebuild the nation's infrastructure of bridges and roads, something that even Rome could not do in a day. But, many experts agree that there is work to be done, “The need for infrastructure investments is "undeniable," says Metropolitan Planning Council president MarySue Barrett. "The U.S. has underinvested in infrastructure for decades, and new sources of public funding need to be identified," reported the Chicago Reader

The problem occurs if a genuine bipartisan effort is taken with Trump, how much collusion will there be with the purported devil that wants to deport immigrants, (seemingly mostly Mexicans), and ban Muslim immigration, among other things..

With funding an issue for any president, some say that it might be easier for this one, but then the money needed,and at that level, may prove to be difficult Recently, “former Regional Transportation Authority chief Steve Schlickman notes that congressional deficit hawks are unlikely to approve a significant amount of new federal grant money for infrastructure.”

Not too many of us are unaware that education has become a political football,and perhaps no where has this been seen as with the Common Core, PARCC and No Child Left Behind, in reverse order. The move to school vouchers, and charter schools has been on the horizon for some time. But, they will take a permanent hit, with the expected confirmation of Elizabeth DeVos, who has been a long time advocate of school vouchers, a move widely criticized by educators as killing off the public school system.

A social conservative, the Michigan born DeVos is married to billionaire businessman  Dick DeVos, son of the founder of Amway, and as one wag put it “they have buckets of money,” and have used it support Republican causes, and their contributions rival that of the Koch brothers. They are also strongly anti-union. She learned her conservative nature, from family, DeVos is the daughter of Elaine Prince Broekhuizen, who gave $450,000 in 2001 to try and ban same sex marriage.

Wednesday’s news that former Goldman Sachs executive Steve Mnuchin is the choice for Treasury set tongues wagging more than ever, since this scion of the corporate world and Hollywood financier has promised to carry the economic water for Trump. The move is also widely seen as rewarding him for his loyalty to the president-elect.

Promising to dash trade pact agreements, in favor of bilateral agreements, Mnuchin has also promised that he will revise the corporate tax code and increase tariffs on Mexican and Chinese imports. So, goodbye to the TPP and hello to a muscular policy that has at its core an economic nativism.

His main plan, he states is a middle income tax deduction  within the first 90 days, yet the bipartisan Tax Foundation says while this can be done, Mnuchin and Trump’s other plans to slash the corporate rate to 15 percent, from the current 35 percent, plus reducing taxes for the country's wealthiest would result in a $2 trillion increase in the federal debt; and over a decade, and $3.9 billion after allowing the future incentive growth. The whole package of cuts would favor the top one percent, and corporations, not the middle and working class that Trump vowed to fight for on the trail.

If this all seems disingenuous, them welcome to Washington Mr. Smith.And, it looks like Mnuchin's Hollywood roots might be not far afield, as when he took over a failed bank in the Great Recession, and evicted families on the approaching Thanksgiving holiday, and locked one woman out of her home, by changing the locks during a blizzard.

Wednesday’s was also a joint announcement, with Wilbur Ross being introduced as Trump’s selection as Commerce Secretary, and as his deputy, Todd Ricketts co owner of the Chicago Cubs. Together their combined skills are to be used  keep the Trump campaign promise.

While, the 79 year old venture capitalist, defines the stereotype of the “old white guy” he was also a savior for Trump when he saved the eponymous Casinos from bankruptcy, making this selection a reward for saving his financial empire from ruin. Like the president-elect he is also thrice married, and has publicly declared that he wants a “radical, and new approach to government.”.

No stranger to controversy he refused to stop production at the Sago Mine, despite known structural problems, when it was under his jurisdiction. The neglect led to the death of 12 miners at the West Virginia site.

In the past, he has received mixed reviews on his success rate, but since this is largely a debt repaid, it’s hard to see what an alternate agenda may be, other than what he has stated. Yet his appointment rounds out Trump’s designs, with the pending marquee position of secretary of state, and says much about his much vaunted appeal to lower income, non-college educated people, who voted for a change in national leadership. Well, they won’t see it with this crew who are largely more of the same: political veterans, former Goldman Sachs employees, mostly male and richer than Midas.

Possible cabinet choices for Trump signal tone of administration

In what what has become a rite of passage for newly elected presidents, and a favorite guessing game across the drawing rooms of Georgetown and Capitol Hill, just exactly who will be in Donald Trump's’ cabinet has taken on a new urgency, with some forgetting, in their haste, to judge, to see that his timeline is just about par for the course, and that six weeks is actually normal for cabinet level positions to be announced, ever since the time oF Richard Nixon; who took the unprecedented step of announcing them all in those six weeks.

Controversy has dogged Trump along his professional career, and his step into the presidency is no exception.  Drawing the most attention, indeed the most criticism, by liberals, especially is the choice of Stephen Bannon as his senior counselor, has come under severe criticism for his white supremacist leanings, and his support of  the so-called “alt-right” media, his prior role as Breitbart News Network’s executive chairman.

Bannon has also questioned the right for foreign students studying in U.S. colleges their right to remain in the country, or to be sent back to their own. Trump voiced concern over these students attending Ivy League schools and then going home: “We have to be careful of that, Steve. You know, we have to keep our talented people in this country,” Trump said.

When asked if he agreed, Bannon responded: “When two-thirds or three-quarters of the CEOs in Silicon Valley are from South Asia or from Asia, I think . . . ” he didn’t finish his sentence. “A country is more than an economy. We’re a civic society.”

The term is suggestive of a white nationalist identity, and, now, his appointment seems fraught with challenges, criticisms, and a definite commitment to playing to Trump's base as he plans to deport illegal aliens, and in this light some sort of ethnic cleaning, say critics.

While most agree that Reince Priebus is a wise choice for chief of staff - especially for the near unbridled cowboy mentality of the president-elect, many in Washington are also noting that he might be able to reign in his more exuberant claims, and statements though no one knows if he will keep him away from Twitter, especially in the wee hours of the morning , where his trigger happy fingers might land the White House in whether an interaction scandal, or a domestic drama.

Former New York City Mayor Rudy Giuliani slated for two possible positions, attorney general or secretary of state, might also be a way of stabilizing critics, yet he also gave several speeches that he was paid mightily for in middle eastern countries like Qatar, and where there is a potential conflict of interest.

His combat on crime in New York, during the 1980s would also come back to haunt him with his stop and frisk policies that tilted heavily in favor of men of color, often without charge; gave great concern to civil rights advocates, while his liberal critics were upset that he did not take the same ferocity and double down on repairing the city’s public school systems,which were in shambles.

But Giuliani's self redemption came when the city was attacked on 9/11,and his performance assuaged critics and earned him laurels for his job of both inspiration and leadership.

Trump’s son in law, Jared Kushner, is begging for security clearance and a possible administration position, yet federal statutes forbid hiring close relatives. Kushner’s idea of not taking a paycheck,so that he can work, is also nixed by that same law.

This law was not on the books when JFK appointed his brother Robert Kennedy as attorney general, and met subsequent criticism by quipping: "I can't see that it's wrong to give him a little legal experience before he goes out to practice law.”

Jeff Sessions as Secretary of Defense or Attorney General would not be amiss, some say, and he has been a supporter  - and honest critic of Trump, on the campaign trail. And his long tenure as a state level AG would hold him in good stead.

For treasurer -- bound to be a top job - for the economically challenged Trump, Jeb Hensarling's name has been on the short list, but this is also the man who screamed at Fed Chair Janet Yellen in her recent testimony on Capitol Hill, before the House Financial Services Committee.

Women have also been on lists and one of them is Gov. Nikki Haley of South Carolina, who, transition team members say, are enthused about, perhaps as a counterweight to the “locker room” tales that Candidate Trump crowed about on an OTR tape, that surfaced during the campaign..

Mike Huckabee could be be dusted off as a potential secretary of commerce, although this might face stiff competition from others, and former Louisiana Gov. Bobby Jindal is being considered for Health and Human Services, which might give him a bump later on in political runs. A former State level health and human service secretary, he is also an ardent foe of the Affordable Care Act, who made the state one of the most restrictive for abortions and where women desiring the procedure would have to undergo ultrasounds and listen to the fetal heartbeats, amongst other restrictions, before continuing with the procedure.

While there is ample time for the Trump cabinet to be formed, these early choices and signals convey what a Trump administration will be like, especially for foreign students, women, African Americans, and other more vulnerable populations. Only time will truly tell.

Trump's election to U.S. presidency sends shockwaves of near disbelief, with Clinton's stunning defeat

In a sharp departure from what the pollsters predicted and what most, if not all, of the news media (myself included), predicted, Donald Trump is now America’s 45th president, to the shock of many in this hotly contested, and contentious, presidential election. Wednesday’s news that the former businessman, and reality TV star, is now the nation’s chief executive, seems as odd as chalk is to cheese.

His clarion call to a base of angry and older white men - who made up over 60% of his vote, gave credence to the cultural, racial and educational divide that has marked the United States for over two decades. As they watched the progressive and liberal legislators, and legislation, give power to women, blacks, and gays, to their consternation, they voted with near religious fervor on Tuesday. This was indeed, some felt, their last stand to stop the final anathema: a female president, especially, the spouse of the often despised Bill Clinton.

The election of Donald Trump was less a victory of party, than a statement of design, under the palimpsest of the banner “time for a change”; now the nation, our allies, and those that support an international, and progressive agenda, wonder aloud what the future will hold. Already, despite the polite congratulations of world leaders, like Angela Merkel of Germany, there is, we hear, fear, on what can, or cannot remain: International trade agreements, world economy, terrorism or tariff protection. Considering the mostly negative, even gratuitous verbal violence, that Trump gave to these areas, is causing concern from Berlin to London, and from there to Prague, and even Paris,

It seems that liquidity in politics is as prevalent as it is on the balance sheet, as it is on the stock exchange, and Trump’s electoral map bled red on Wednesday morning. Taking mostly the largest share of electoral rich states -- except California - and nearly all of the South and a chunk of the so called “rust belt” states. His final electoral votes tallied 279, versus Clinton’s 228, in what can easily be described as a juggernaut.

The black vote -- longtime Clinton supporters -- came in at 12% the same that it did in 2012, but needed to be much, much bigger to stop the assault; the Latino vote, while expected to be a firewall in most areas, especially Florida, proved to be inadequate to the white vote 59.5 million -  that mobilized a block to quell even the 65% wave Latinos produced for Clinton.

The rub was that when compared with the 71 percent Obama gained, the outcome was inadequate. The Latino gains came through demography and not galvanization, Nevada excepted with the election of Catherine Corte Masto to their Senate..

Wisely, Trump concentrated on the old industrial North as he he took Michigan, Wisconsin and Pennsylvania - even with only single digit leads, a lead is a lead.

Clinton’s camp struggled with Michigan and Wisconsin and the results showed, where, for the latter, she got 46.9 percent, to Trump’s 47.9, a razor thin margin,but enough for him to win. And, for Michigan her 47.3 percent, versus his of 47.6 was yet another win for him, but must have sent tremors through the Clinton camp. Significant, say some, now, are those that voted for third party candidates,and if they were votes for Clinton just might have pushed her over the finishing line.

With 45 million people voting early, it was seen as a net gain for her and resulting, if not by a wide margin, at least a slim one (which I also felt) the air practically crackled, as the Chicago native seemed to hover, in the polls, beyond even what were modest expectations.

The release of yet another batch of suspect emails from Clinton’s privater server was as unwelcome as it was untimely, yet FBI Director Comey, in an advance copy of “playing by the rule of unintended consequences” forged ahead, only to retreat with some undoubted communication from both the White House and the Clinton camp. Some say that the die was cast, at that point, and the undecided, decided -- against her.

On Tuesday, just after dinner time, in Illinois, things looked good for Clinton, especially with returns from Texas and Florida, and then those leads began to crumble as the race became tighter and tighter, and as the blue nearly vanished from the electoral maps.

The final electoral count came at nearly 3:00 a.m on Wednesday morning forcing Clinton to concede the win to Trump with final totals of 279 for Trump and 228 for Clinton.

Hovering in the background was a deeply divided country that was holding the aforementioned issues in hand; some of which had erupted in violence, at rallies,as some had seen, even  as “old” ten year old election hardware crept hand-in-hand with software issues; that seemed to be a proxy for the events swirling around them.

There was also the angry chorus of Hillary haters, whose script was based on a decades long cottage industry against her, and built on lies, more lies and pure lies. Gender definitely played a role, but the litany had taken hold. In short, the narrative of "crooked Hillary" worked, especially those who felt this was the last hand they could play. Even, if, as the New York Times described him as an “improbable champion.”

Still others disagreed and one emailed statement from North Carolina said this: “I live in a swing state and I can tell you this was not about white male angst over trade agreements or economic displacement since so many of them are on Social Security Disability collecting money from Federal Government! The election was about change, racism, misogyny, white supremacy and antisemitism. Join reality.”

On the domestic side, the first item on the Trump chopping block will be the Affordable Care Act, known colloquially as Obamacare, not insurance coverage, as many mistakenly believe, but legislation that requires having health insurance and receiving tax subsidies, to pay for health care.

He can, as NPR notes, do it with, or without Congress, either by gutting it without redemption, or by altering its structure so much, that it dies a slow death. What happens to the over 25 million people that now have access to the most basic, and preventive care, is not fully known; although Trump suggested health care savings accounts and tax deductions, on the campaign trail.

Next up for a re-up, besides is the makeup of the Supreme Court, now that Obama’s nominee Merrick Garland’s name is one for the history books. With no moderate voice, and the list that we have seen of possible nominees, decisions that reach that august body will more and more lean to the right. Much now depends on Judges Ginsburg, Sotomayor, Breyer, et al.

With a Republican controlled Congress, it will be a point of conjecture, to see how Trump will work with Paul Ryan, as speaker of the house, since there is no love lost between he and Republican stalwarts, even such young turks such as Ryan, not to mention those who Trump has belittled and fought with. It’s a safe bet that he won’t get advice from George and Laura Bush, both of whom checked “none of the above” on their ballots, for their presidential selection.

In many quarters some of the more vulnerable people that the Trump administration has targeted: LGBT organization, Planned Parenthood, consumers are already girding up to preserve what has been a long slog to gain what they currently have.

Equality Illinois, a long established organization for LGBT Illinoisans has said, in a press release Wednesday: “What last night has confirmed for us is that the equality we have won to date is not guaranteed without our vigilance years,last night was so devastating because we have elected to the presidency a man who has publicly targeted immigrants, children and grandchildren of immigrants, Muslims, the disabled, women, and many others.  Last night was so devastating because we have elected to the vice presidency a man who served as a key architect in an attempt to legalize religious discrimination against the LGBTQ community in every facet of our public lives.”

Linda Diamond Shapiro, interim CEO, Planned Parenthood of Illinois, in an emailed statement said: "For 100 years, Planned Parenthood has faced challenges and attacks from people opposed to our mission to provide expert reproductive health care. Through every attack, we have come out stronger. We’re going to use that strength to lead in the coming days, months and years - for the patients who rely on us, and in collaboration with our allies across progressive movements."  

The incoming transition team has planned to remove the protections won by President Obama with the Dodd-Frank Act, and Crain's New York reported on Thursday that “Donald Trump's transition team vowed to dismantle the Dodd-Frank law, saying the 2010 financial reform statute "does not work for working people."”

In a statement on GreatAgain.gov, a site launched Thursday to articulate the incoming administration's plans, President-elect Trump's team said it "will be working to dismantle the Dodd-Frank Act and replace it with new policies to encourage economic growth and job creation."

While Thursday’s meeting with Trump and President Obama was cordial enough aides made it clear that health care, immigration, and jobs “big league” jobs were on the president-elect’s hit list.

Among progressives, liberals, and centrists the election results bring a true sense of mourning not solely for the chance lost of the first female president, but the potential loss of programs, and legislation that has helped those most vulnerable in society. And, for many, that loss is great indeed.

On January 20th Donald Trump will be sworn in as the nation’s chief executive.

A changed electorate gives weight to the U.S. presidential election

As Americans head to the polls Tuesday, and on the heels of record crowds for early voting, the two presidential contenders front runner Hillary Clinton and Donald Trump, after crisscrossing the country for last minute votes, face a vastly different electorate with shifting patterns not seen before. It is less white, and increasingly diverse, especially among groups that have shown substantial growth since the last election, especially among Democrats and those that lean to that party.

It also has a few hallmarks, according to the latest study by Pew Research: there are 27.3 million eligible voters in the Latino community, representing 12 percent of all voters; and for the so-called baby boomers, this may be the last time that will be a majority force as they age out of dominance, since 1980.

In 2012 they held 70 percent of the presidential vote, and that figure is now expected to decline to beyond the 56 percent from that year.

For the two contenders, much of their appeal has to be divided amongst those who have the cultural history to know anything about them; and also in consideration of those of an even earlier era - the Greatest Generation, now also shrinking -- while another group, Generation X’ers are holding a slight edge: 45%- 49% for the GOP.

This seems to be a group that Trump wanted to court, especially those that are white and working class, and male. Yet, his debate comment that his nonpayment of taxes “makes me smart” may make some of those voters wince in the voting booth.

Another interesting trend is the growing role of  independent voters, who have also shown an increase, especially among millennials. The study showed that “Among Millennials, the youngest adult generation (today ages 18-35), 41% identify as independents, compared with 34% who identify as Democrats and just 22% who identify as Republicans. The share of Millennials who identify as independent is up eight points since 2008,” as researchers discovered.

With those statistics the two contenders had their work cut out for them to frame issues that would appeal to younger voters, not an easy case for two people well into their 70s (one of whom is a grandparent) and whose platform - Clinton excepting - does not address issues important to them. But, in a perhaps unexpected outlier is that for party affiliation alone, they tend to be Democratic;  therefore add the Bernie Sanders effect that inserted a plank to her platform for debt free college education and  even free community college education.

There certainly will be no love lost in the Latino community for Trump, with his trashing of immigrants, and lies about Mexican president Enrique Pena Nieto, and that country paying for the wall. What effect that might be seen will only be revealed on Tuesday night. Part of the problem, despite the growth, is that more than half of the eligible Latino voters (52%) live in the non battleground states of California , Texas and New York.

They also traditionally lag behind blacks (67%) and whites at 64 percent, in terms of voter participation. This year may be different since 44 percent of eligible Latino voters are millennials, an effect that could be problematic for the New York businessman. Especially because of the following battleground stations the Latino voters percentages have increased; Arizona with 22 percent, Florida holding 18 percent and Nevada, with 17 percent.

Race is still a factor in the electorate as it is in other areas and Pew found that “Among non-white voters, the Democratic Party holds a wide advantage in leaned party affiliation and there is little difference in patterns across generations. Roughly seven-in-ten non-white voters in each generation identify as Democrats or lean Democratic.”

It is widely acknowledged that Clinton - perhaps in a legacy nod to her husband's administration -  has captured much of the black vote and according to the New York Times she has has “committed several million dollars of additional funding in recent days to aid the entire Democratic ticket, money that will be used in part for an extensive program to target African-American voters.”

In a related effort, the Clinton  campaign has been told that, to secure even more votes, that black candidates in down ballot tickets (in southern states) have to also be cash infused to propel the former secretary of state, and first lady, to reenter the White House. For statistical purposes Barack Obama received 71 percent of that vote, and Mitt Romney 27 percent in 2012.

As many a media savvy reporter has noted, there has been a durable education divide between the two candidates, for voters that have college degrees. For Clinton supporters there are 52 percent, and for Trump 29 percent.  41 percent of Trump supporters have no college degree, versus 36 percent that support Clinton.

While many contemporary accounts focus on this narrative, few have noted that since 1992, a college degree didn’t matter in most presidential elections, and in one of those political ironies, Bill Clinton got 51 percent of those voters without a college degree versus 37 percent for Bob Dole.

The shifting patterns have changed dramatically with college versus no college and “Patterns in party affiliation are the reverse among college graduates. The Democratic Party currently holds a 53% to 41% advantage in leaned party identification among voters with a college degree or more,” noted the people at Pew.

Conversely, “The Republican Party’s gains among those with no college experience are particularly pronounced among white voters. Currently, 59% of whites with no college experience identify as Republican or lean Republican, compared with just 33% who identify as Democrats or lean Democratic. This is a dramatic shift from 2007, when the Democratic Party held a slight 46% to 42% edge among non-college whites in partisan affiliation.”

The end of the 2016 election may prove to be a relief to many, and a bellwether instruction for others; but one constant is that it may prove to be the harbinger of a different electorate, and a different strategy, in future presidential elections, and beyond.

October Jobs report shows wage growth and supports a December rate increase

At the conclusion of the Federal Reserve's Open Market committee, on Wednesday, the FOMC,.in particular the doves won with a stay, as predicted of raising interest rates, with the possibility coming much closer to December than the hawks wanted. All of which was in keeping with the chair’s oft spoken desires, when conditions were met; meaning a stronger climb to employment and a near certainty of its target goal of 2 percent.

In their “statement,Reuters reported the Fed's increasing confidence that prices were moving higher was reflected in its view that "inflation has increased somewhat since earlier this year" and the removal of its previous reference to inflation remaining low in the near term.”

They also said, to a waiting world, in part, "The committee judges that the case for an increase in the federal funds rate has continued to strengthen but decided, for the time being, to wait for some further evidence of continued progress toward its objectives.”

The economy climbing to a 2.9 percent growth, in the third quarter, is also an encouraging sign, but many observers and economists had noted that Yellen was not to be moved, from straying outside the traditional parameters. Instead,she was going to go strictly by the book, in leading the Committee to any increase this month, despite some of her more hawkish members such as Esther George of Kansas CIty and Loretta Mester of Colorado, both of whom dissented.

There are also some economists who feel that 2017 could show two increases, but very small ones, perhaps even smaller than the much ballyhooed 0.25 percent. In fact, Richard Clarida, global strategic advisor at Pimco said, "The economy itself probably could adjust [to more than two hikes], but when you have the impact on the dollar and on other parts of the global economy, that does limit the Fed's lift-off.”

There is also room for gauging the rate through the vehicle of the neutral federal funds rate: too low a target can cause too much liquidity and overstimulate an aggregate demand, and too high would result in “undue pressure on liquidity, unnecessarily high market interest rates and slower than desired economic activity,” says the Federal Reserve Bankof St. Louis in a position paper.

Helping, others say, to move the needle was Friday’s October Jobs Report which showed 161,000 jobs added to the nation’s economy, and which now makes for months of strong job growth; with the added, and much needed, bonus of wage growth from 8 cents in September to 10 cents in October, now creating an average of $25.92 per month. The resulting increase in buying power should be seen in the stores, especially in the upcoming Christmas holiday season.

Wages, once a worrisome low, have now increased to 2.8 percent over the past year. The Wall Street Journal reported that “The 2.8% rise in average hourly earnings was the single best number since June 2009, according to Lindsey Group's Peter Boockvar.

"It was encouraging to see the wage growth from an employee perspective," he wrote. On the other hand, there is a clear slowdown in monthly hiring, he noted, and "we expect to see corporate profit margins to continue to compress because of rising wages."

“Much of that spending was on higher-priced items, including cars and homes. Auto sales are running close to last year's record high of more than 17 million. And while home sales have leveled off this year, they have done so at a nearly healthy level of 5.5 million,” noted Crain’s Chicago.

While economists had predicted 175,000 new jobs, the numbers still give increased attention to the economy, and while not robust (it is at the slowest rate since the end of World War II)  they suggest that the U.S. could approach full employment, say some, if increases continue. One mitigating factor is labor force participation, which changed very little over previous months to 62.8 percent..

There are still concerns that the sluggish pace is one to be concerned about, especially with upward revisions for the month of August, from 167,000 to 176,000; and for September from 156,000 to 191,000.

“Those upward revisions may actually be worrisome indicators because they suggest the summer's hiring surge is over” and "The October jobs report is much weaker than recent months, and reflects a sluggish, and maybe faltering recovery," said Michael Hicks, director of Ball State University's Center for Business and Economic Research.”

He sees the net gains not coming from one individual holding a single job, but from a lone worker holding more than one job. But, he seems to be alone in his thought as most see light in the report due to wage growth.

"The really good news in the past couple of months has been the acceleration in wage inflation," Nariman Behravesh, chief economist for IHS Markit, said in his review of October's data. "This means that the tightening in the labor market is finally beginning to benefit workers — and will support stable consumer spending growth."

Also optimistic is Thomas Perez, Labor Secretary, who told NPR, "Workers deserve a raise," he said. "They've been looking for this raise for some time and we're seeing sustained evidence that they're getting that raise."

The best bet for an increase is December with most coming in at 80 percent, which is in keeping with the Yellen philosophy and the Journal quoted Paul Ashworth of Capital Economics: "The solid gain in employment and the acceleration in average hourly earnings growth in October will increase expectations that the Fed will hike interest rates in December (assuming that the election doesn’t throw a spanner in the works.)"

The election is very much on the minds of the Committee, and market watchers and had investors selling short and buying long, and 10 year treasuries were selling at 1.821% after the report was released.

With both contenders for the White House anxious to capitalize on the report it is noteworthy to show who were the leaders last month. Once again professional services came in leading the list adding 43,000 jobs, followed by financial services at 14,000, and computer services at 8,000. Yet, caution, say some should forestall any foregone conclusions.

“Within those categories, though, the picture gets a little murkier. A lot of the jobs don't appear to be very high-paying. That first category, professional and business services, is a broad catch-all bin. Some of the jobs are high-paying, but temp jobs are also included here. The single largest gains within it, 19,700 jobs, came in "administrative and support services," itself a sub category of administrative and waste services, noted Bloomberg News.

On a final note, many areas stayed the same: manufacturing, construction and mining, remained low, or about the same, and the one outlier, was retail which shed 1,100 jobs not a figure that bodes well for Christmas, but could be adjusted upwards in light of seasonal hires, and more consumer money to spend.

While there were some disappointments, they were minor, and the steady, if not spectacular growth gives the Feds ample room for maneuvering a rate increase; something that retirees, investors and pension trustees would welcome.