Goldman: December Rate-Cut "Feels Sealed"

For a few minutes early Friday morning, it seemed shaky, like the bottom was about to fall out of the market as bitcoin was about to plunge below 80K and all key support S&P levels were triggered and relentless systematic selling had engaged. 

But, as Goldman's Jan Hatzius wrote overnight, though badly delayed, the September jobs report may have sealed a 25bp cut at the December 9-10 FOMC meeting. Sure enough, just before the Friday open, New York Fed President (and FOMC Vice Chair, thus the closest voice to the Fed Chair) Williams argued for “a further adjustment in the near term” because “the downside risks to employment have increased as the labor market has cooled, while the upside risks to inflation have lessened somewhat.”