US NEC Director Hassett says blockbuster jobs numbers the last two months and 'rip-roaring' jobs market, Bloomberg TV interview
AI:
- On AI job loss, says now seeing AI job creation.
- People should use AI tools for career protection.
- Data showing people using AI tools for their jobs.
Monetary Policy:
- Core inflation has remained stable, despite oil and jobs.
- No sign of runaway inflation for Fed to raise rates.
- Think we'll see rate cuts this year because of Warsh.
Trade:
- Studying options on latest tariff ruling.
- Greer will have more today on latest trade ruling.
- Expects EU trade deal by July 4th.
- Expect EU to meet July 4th deadline.
Admin:
- No chance admin would in any way do a debt default.
- Believe in a strong Dollar.
- Seeing growth needed to get deficit under control.
Context
Hassett's comments suggest a strong labor market, signaling resilience in the economy without immediate inflationary pressures that could force the Fed to act on rates. While he anticipates potential rate cuts, the stable core inflation reinforces that current economic conditions may not necessitate a tightening, impacting expectations across fixed income and the broader market. This insight may lead traders to reassess their positions and sentiment surrounding the Fed's upcoming decisions.
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