Jobs Report Doesn't Mean Fed Should Hike Rates, Hassett Argues
Channel: Bloomberg Television
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Read a transcript preview of “Jobs Report Doesn't Mean Fed Should Hike Rates, Hassett Argues” from Bloomberg Television, uploaded on 2026-11-06.
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Language: English (original, creator captions)
[0:00] Let's continue the conversation now. We welcome to our television and radio audiences around the world.
[0:06] I'm Dani Burger. I'm sitting alongside Bloomberg International Economics and Policy Correspondent Michael McKee. And joining
[0:12] us now, I'm pleased to say from Washington is White House National Economic Council director Kevin
[0:17] Hassett. Director Hassett, great to see you this morning. We're speaking just
[0:21] to be here.
[0:21] We're speaking just after a blowout's jobs report. We saw, again, the figure beat all estimates
[0:27] at one sixty five. Also, on the heels of an election where people are worried about
[0:32] inflation, those things put together, Kevin, does it make sense to you that this is a
[0:36] Fed that needs to be hiking rates in December?
[0:39] Well, I think that it... Let's let's look back at the week because it was really
[0:43] one of the better, jobs weeks that I've ever seen because we had initial claims for
[0:48] unemployment insurance go down even from about the lowest level since World War two. We had
[0:53] the jobs opening status say there are lot of jobs openings, and also that the quit
[0:58] rate went up, which means that people are so confident that if they leave their job,
[1:01] they're gonna get a better job, that they're even quitting. And now we have a jobs
[1:05] report that was way more than double, expectation, and the upward revisions were ginormous for the
[1:12] last couple of months. And so what we've got is a job market that's hitting it
[1:15] all cylinders. And