back to you. john: william, thank you. a strong jobs market with hiring up sharply in january as unemployment hits near rock bottom, 3.4%, the lowest rate since 1969. mark short is the executive director of the coalition to protect american workers, former chief of staff to vice president mike pence and we have had conversations. so this jobs report for january, you know, expectations were for 187,000 jobs created, it was 517,000, we ll put the figure up on the screen. that s stunning. it s a big jobs report. certainly good news for the biden administration, frankly, john. john: good news for the country. it is, the fed has been continuing to raise interest rates, we have inflation at a 40-year high and the number will only encourage them to raise interest rates and i think the challenge, you know, moving forward, at what point have we
will be poring over all of the votes for clues on the path of interest rates for 2023. how aggressive the fed will be when it comes to fighting inflation? we are going to get a lot of information this week on the jobs market. we will get the number of openings available in america. that has been an important release lately, because there are more openings, more than there are available workers. that kept wages running high, and great for americans but makes the fight against inflation harder for the federal reserve. on friday we get the big jobs report, and it s expected to show another 200,000 jobs added and a continued rise in wages. it s been a bright spot of the economy that the labor market has been so strong, but it has been harder to bring inflation down. because of the strength of the jobs market, the consumer has been in relatively good shape and that has helped the economy
that the fed is nowhere near ready to declare victory in the war on inflation. yes, inflation may be peaking but it is going to take some time before inflation gets anywhere back to normal levels. so that probably means more interest rate hikes ahead from the fed. now, these rate hikes, they mean higher borrowing cost for all of us, credit cards, mortgages, car loans. the fed is trying to get inflation under control by slowing down the economy, but instead of just tapping the brakes on the economy they re slamming the brakes with big interest rate hikes. history shows when they do that, they can accidentally cause a recession. that s the concern in the market. now, fed chair jerome powell is going to be giving this highly anticipated speech on friday in jackson hole, wyoming, where he could drop clues about what the fed is going to do next. but the fed doesn t meet again until late september and there s a big jobs report and multiple inflation metrics due out before
liberty. liberty. liberty. liberty. hello, thanks for being with us. i m victor blackwell. and i m alisyn camerota. president biden is celebrate a big jobs report, the economy added 530,000 jobs and the unemployment rate dropped to 4.6%. today the president reminded americans that those pluses and the more than 193 million americans now fully vaccinateds are signed that the country is
the resignations coming as the agency nears critical decisions from everything from vaccine approvals to booster shots. why now? we are moments away from the opening bell on wall street. stocks fell on tuesday on what was a quiet day for the markets. they did enjoy solid increases in the month of august. another monthly gain for s&p 500. investors are awaiting the big jobs report on friday which we ll be covering. we ll stay on top of all of it. sales are down from last quarter but we are hoping things will pick up by q3. yeah.uh. doug? sorry about that. umm. what.its.um. you alright? [sigh] [ding] never settle with power e trade. it has powerful, easy-to-use tools