I completely agree with Larry Summers. Chair Powell is feeling pressure to give the market what it wants and is ignoring the data in order to make that accommodation. Not sound monetary policy in my estimation.

Rate cuts, how about rate increases...

Let's get inflation back to 2% sustainably -- no matter what it takes -- and *then* worry about the "neutral rate".....

Summers has been around forever, and America just keeps declining. Reagan's shining city on the hill is gone, but Larry is with us forever.

larry summers is VERY VERY SMART economist i love listening to him and his analysis

I’m with Powell on this. Knowing what a neutral rate is, doesn’t change things and even if it was possible to identify it, it would only be a snapshot in time

Thank you Larry. A rare voice of reason we can trust

the driving analogy is actually pretty apt. If you see traffic conditions are telling you to brake or go faster, then no it doesn't matter what the spedometer says. There's a red light up ahead, you start applying the brakes. You see elevated inflation you keep rates restrictive. It doesn't matter if your spedometer says 35 or 30, it doesn't matter right now if R* is 3% or 3.5%

The jobs report is about how many jobs the nationals get than how many immigrants get, when you have a open border the jobs report will only spike as to cheap labour count increases.

+600,000 fake jobs -6,000 real jobs ____________________ -6,000 jobs The did the math wrong! The did (600,000 + 6,000) / 2

He makes sense. Why ignore the current trends which are very positive for the US despite the higher rates.. unless weakness enters into the equation I don’t see why they would reduce rates….

Larry, this is the "largest industrial expansion since World War II", and the strong jobs market reflects the confidence in labor. Reshoring, foreign inflows, and factory builds are driving growth. IMF warning Powell/Fed against trying to return to 'printed-prosperity'[QE-x/$[ which could further 'devalue-the-dollar'.

Excellent explanation on Chinese domestic consumption suppression.

The way they measure things is wack. The fact that we keep lumping housing into inflation is perhaps the biggest flaw. The amount of people selling and buying new homes are down, yet wages are up. So basically that’s more money in peoples pockets. 80k for average household income? That’s pretty high I’d say.

And more supply drives down wages.

none of these numbers are believable...

Jay Powell is incompetent, terrible at communication. Sad and pathetic really.

Hahahaha but report lies what are the chances there is an election year how about that

So much for modern monetary theory, deficits don't matter.

they play for Wall St..........not for mainstreet

how about the real rate.

This guy said de globalization will lead to higher inflation 😂

2:43 how many of these jobs are being done with one artificial intelligence agent? There is at least one active one on the job boards that applies and does as many remote work jobs simultaneously as it can. Larry should have a sense since he was going to be on the open ai BOD.

Maybe the Fed should suck in some of the excess money supply.

*When will it be revised downward?*

Why he looks so horrible

Wow - beard

BS. All part time

Part time jobs 😂

Every good jobs report is bad news nowadays, somehow. Are we ever going to get past this raging inflation fear?

Yeah this is a government job led economic growth it is not coming from the business sector creating employment opportunities based on expanding business opportunities. Part-time job economy PR for the elections. Creating jobs while states and the federal government running a $34 trillion deficit.

good