Hassett Says Fed Can Wait on Rates After 172,000 May Jobs Gain
Updated
Updated · TradingView · Jun 5
Hassett Says Fed Can Wait on Rates After 172,000 May Jobs Gain
3 articles · Updated · TradingView · Jun 5
Summary
172,000 jobs added in May gave Kevin Hassett fresh grounds to argue the Federal Reserve can hold off on rate moves and keep watching inflation.
80,000 was Wall Street’s estimate, and Hassett said a second straight month above 170,000 payroll gains shows growth is being driven by supply-side strength rather than overheating prices.
4% GDP growth and a steady unemployment rate, he said, make the report “great news for ordinary workers” and leave incoming Fed Chair Kevin Warsh needing a strong macro case to shift policy.
About 1 billion barrels short of ideal oil stocks, the U.S. still has ample reserves for now, Hassett said, downplaying near-term supply risks even after warnings crude could top $150.
WTI crude slipped to about $91.26 and Brent to $93.71, while U.S. stocks opened lower, underscoring how rate expectations and energy risks are still shaping market sentiment.