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Welcome to the Bloomberg Surveillance Podcast.

I'm Tom Keen.

Daily, we bring you insight from the best in economics, finance, investment, and international relations.

Find Bloomberg surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the Bloomberg.

For our audience worldwide on Bloomberg TV and Bloomberg Radio, we can get the White House reactions to this number. I'm very pleased to say that joining us now is Larry Cudlow,

National Economic Council Director. Larry, let's start right there. Downside surprise on the

payrolls report. People we speak to

in the last hour, the last 90 minutes all say the same thing. This makes it more likely to get a deal

down in D.C. Does it make a difference to you, Larry? Well, look, I just want to say, I don't think

this was such a bad jobs report, okay?

It may have come in a wee bit under expectations, but I don't know what that means.

6.7% unemployment rate is big news.

The CBO and others didn't expect single digits until early 2021.

So we got the single digits the last couple of months, 6.7.

And incidentally, importantly, everybody, if you look under the hood,

the biggest drops in unemployment were in the minority groups,

African Americans, Hispanics, Asians, and let me add, it's

not a minority group, it's a majority group.

...