Why a ‘robust’ jobs report for November probably wouldn’t derail Fed rate cut

A “decently robust” U.S. jobs report on Friday probably wouldn’t derail the Federal Reserve from delivering an interest-rate cut this month, as the Fed’s policy rate remains restrictive, according to Russ Brownback, head of global macro positioning for fixed income at BlackRock. 

“The broad consensus is that that data is going to be

strong on Friday, with a real bounce back,” said Brownback by phone. “The data for October was brought down by the terrible weather and the strikes,” he said, referring to employment disruptions from hurricanes and striking workers.