the president is going to have a plrches and take a bow. he says inflation is going in the right direction. yeah, it s coming down. it s so funny. so the estimate is 8:390 number 6.5%. maybe it will come in 6.4%. wall street analysts playing game with the white house consensus estimate. jobs report beat the discreet nine months in a row never done that before. two things happen either economists on wall street completely stupid or deliberately saying hey i think it will be 250,000 but i m going to say instead maybe 200,000. then it comes in 210,000 and the media is all gaga. in real life all of this is unfortunate. biggest story of the week. credit card interest rates now shattered the record over 19%. that s on average. store cards 268.8%. this is mind boggling. we re living on borrowed time. the average american is going to be crushed this year. and i m bill.
inflation. if it shows 250,000 jobs as expected, that would be the smallest monthly gain in nearly two years. a sharp drop in job openings would be welcomed by the federal reserve. i want to bring in chief economist morning consult john leer. good morning, john. good morning. jobs day. what s the best scenario here, the best case scenario here for the jobs report? it s a very challenging time right now because we re trying to balance two sort of competing interests. one, of course, is to provide workers new jobs. on the other hand, if the jobs report comes in red hot, i do think you re likely to see the federal reserve act more aggressively than they ve already communicated to the market. the consensus estimate right now, something like 250,000 new jobs would be really encouraging. on top of that, i think looking at the labor force participation rate is going to be critical. more workers come in looking for work, essentially that s going to cool down the jobs market