US jobs data was solid even if disappointing - BBH

Analysts at Brown Brothers Harriman explained that they have consistently argued against the speculation of a November move.  

Key Quotes:

"There is no precedent for a change in policy so close to a national election.  

That is one way the Fed has shown its independence from politics.  It will not overshadow the political process.  Also, the November meeting does not have a press conference; nor is there a scheduled press conference or updated forecasts.  

These are not insurmountable hurdles, but it would seem to require a greater sense of urgency than is current expressed or embedded in the data.  

The US jobs data was solid even if disappointing.    

The private sector gained 167k jobs, more than August's 144k increase, and a little more than the 153k average jobs creation over the past six months.  The 11k government jobs lost was the most in the year, while the participation rate rose to 62.9%, matching the highest level since February 2014."