Jobs Report Should Not Cause Fed to Hike Rates, Hassett Says

• April jobs report shows 115K jobs added, beating estimates, with unemployment claims at their lowest since the 1960s.
• AI is currently seen as a driver of job creation, particularly in AI-adjacent professions, with studies indicating faster growth in these areas.
• Hassett believes strong economic growth and stable core inflation provide a basis for the Fed to cut rates this year, especially under a potential Kevin Warsh chairmanship.
• The administration is pursuing trade deals, including with Europe by July 4th, and reaffirms a commitment to fiscal responsibility to manage the national debt.

The White House National Economic Council Director, Kevin Hassett, highlights a 'rip-roaring' US job market with strong job creation, including in AI-adjacent sectors. He suggests that stable core inflation, despite rising oil prices, should lead the Federal Reserve to consider rate cuts. The administration is also focused on finalizing trade deals and maintaining fiscal responsibility.