Lawrence H. Summers, Former US Treasury Secretary & Wall Street Week contributor explains why he sees the March jobs report as a sign that the economy is reaccelerating.
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@cliffbarber16424 ай бұрын
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.
@MrTigerStarX4 ай бұрын
Agreed. Larry nailed it. The neutral rate is easily 4-5%.
@sshady72724 ай бұрын
Rate cuts, how about rate increases...
@Philokally4 ай бұрын
Let's get inflation back to 2% sustainably -- no matter what it takes -- and *then* worry about the "neutral rate".....
@glenjo04 ай бұрын
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.
@mazharsoufi52704 ай бұрын
larry summers is VERY VERY SMART economist i love listening to him and his analysis
@alexcipriani60034 ай бұрын
😂😂 you are delusional he is an arsonist that enabled the 2008 crash
@method3414 ай бұрын
he's just another perma bear boomer
@mazharsoufi52704 ай бұрын
@@method341 he’s not
@spikslow4 ай бұрын
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
@SydneyPanda20164 ай бұрын
Thank you Larry. A rare voice of reason we can trust
@maquih4 ай бұрын
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%
@praveenspike4 ай бұрын
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.
@chrisupton314 ай бұрын
+600,000 fake jobs -6,000 real jobs ____________________ -6,000 jobs The did the math wrong! The did (600,000 + 6,000) / 2
@HH-jq2gx4 ай бұрын
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….
@rockycata60784 ай бұрын
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'.
@kenziemcneil71794 ай бұрын
Excellent explanation on Chinese domestic consumption suppression.
@Hofftimusprime14 ай бұрын
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.
@skippyzk4 ай бұрын
Who do you know who makes 80k? I just got a new job building medical devices, I have 7 years experience. I make 50k
@Hofftimusprime14 ай бұрын
@@skippyzk It’s federal household data.
@jpsmith94524 ай бұрын
And more supply drives down wages.
@chadleonard28004 ай бұрын
none of these numbers are believable...
@scottyh15094 ай бұрын
Jay Powell is incompetent, terrible at communication. Sad and pathetic really.
@Relaxlifeisshort24 ай бұрын
Hahahaha but report lies what are the chances there is an election year how about that
@rleslie664 ай бұрын
So much for modern monetary theory, deficits don't matter.
@shellysmith10374 ай бұрын
they play for Wall St..........not for mainstreet
@rickhayes-oh2zm4 ай бұрын
how about the real rate.
@kjosephf4 ай бұрын
This guy said de globalization will lead to higher inflation 😂
@reginafefifofina4 ай бұрын
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.
@jimyguitar31774 ай бұрын
Maybe the Fed should suck in some of the excess money supply.
@fredschnerbert12384 ай бұрын
*When will it be revised downward?*
@michaelsurratt18644 ай бұрын
Probably never last month got revised upwards.
@michaelsurratt18644 ай бұрын
Friday’s report noted that total nonfarm payroll employment for February was revised down by 5,000, from 275,000 to 270,000. January’s payrolls were also adjusted, but the bureau moved them them up by 27,000 after significant downward revisions in the previous jobs report. January’s total payroll gains now stand at 256,000.😊
@yuzihao87774 ай бұрын
Why he looks so horrible
@billhammett1744 ай бұрын
Wow - beard
@rickhayes-oh2zm4 ай бұрын
BS. All part time
@danielgriffin81324 ай бұрын
Part time jobs 😂
@Jay-om2bv4 ай бұрын
Every good jobs report is bad news nowadays, somehow. Are we ever going to get past this raging inflation fear?
@Needcollegehelp4 ай бұрын
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.
@maquih4 ай бұрын
Weird, nobody was making this argument when trump was president. They made it all the time under obama though, but not under bush 2. Maybe it's just a coincidence.