AdvertisementThe September jobs report offered good news all around — except to those expecting a second straight jumbo 50-basis-point rate cut from the Federal Reserve next month.
In addition, the unemployment rate unexpectedly fell to 4.1%, bucking estimates that it would stay unchanged at 4.2%.
Analysts agree that September's blowout job numbers make an aggressive interest rate cut harder to justify.
Advertisement"Did the Fed even need to cut rates in September, let alone cut by 50 basis points?"
Late last month, the bank predicted that investors would take on more risk if the unemployment rate hit 4.1% and if payrolls reached above 150,000.
Persons:
—, Seema Shah, Glen Smith, Morgan Stanley, payrolls, Smith
Organizations:
Service, Federal Reserve, Asset Management, GDS Wealth Management, Federal