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Bloomberg Surveillance

Mohamed El-Erian on "Wow" January Jobs Report

Bloomberg Surveillance

Bloomberg

Business News, News, Investing, Business

3.81.2K Ratings

🗓️ 2 February 2024

⏱️ 5 minutes

🧾️ Download transcript

Summary

Bloomberg Opinion columnist Mohamed El-Erian unpacks the January jobs report which could cause a headache for the Fed and implications for the Biden administration. He speaks with Bloomberg's Jonathan Ferro, Lisa Abramowicz and Annmarie Hordern.  

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Transcript

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1:00.0

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1:10.0

We've got Mohammed Al-Arian standing by Bloomberg opinion columnist, President of Queens College

1:17.4

Cambridge. Mohammed let's deal with the wow first. What did you make of that?

1:21.8

Wow, I mean what an amazing job report. It just confirms that this is an

1:27.9

exceptional labor market that's going to feed into the exceptionalism of the U.S. economy. I do think it's a bit of a headache

1:35.6

for the Fed because of the wage growth numbers. Lots of people have been warning about

1:41.8

wage growth, about service inflation, and that just

1:44.8

we emphasises that warning.

1:48.8

And then finally for your markets, look, this means March is off the table.

1:53.0

March should have been off the table for a while as you and I have discussed,

...

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