Former St. Louis Fed Pres. Bullard: March jobs report shows ‘the economy is running pretty hot’

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James Bullard, Purdue University’s Business School Dean and former St. Louis Fed President, joins ‘Squawk Box’ to discuss the March jobs report, the impact on the Fed’s interest rate path, state of the economy, and more.

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27 COMMENTS

  3. No the economy is NOT hot. The jobs report is a farce.

    If you read the cnbc article about the jobs report, you'll read the following:

    “Gains tilted heavily to part-time workers in the household survey. Full-time workers fell by 6,000, while part-timers increased by 691,000. Multiple job holders rose by 217,000, to 5.2% of the total employment level.”

    Sure, overall jobs went up, but when you dig into the details, you see an increase in the amount of full-time jobs lost and an increase in people needing 2+ part-time jobs.

  6. A broader measure that includes discouraged workers and those holding part-time positions for economic reasons held steady at 7.3%.

  7. Too bad no one goes under the hood of the jobs numbers and reports what is really happening. Full time jobs lost almost 6000 in March and part time jobs picked up over 600,000 in March. These numbers are right there in reports and yet all we see is the MSM flying the Biden Flag at the "success" of his policies. Why do people take over 600,000 part time jobs in one month, March? They can't survive on what they are making and must work somewhere else to try and pay the bills. Thanks Joe, you did that!

  8. If you think about what Bullard, who seems a straight shooter even if a little academic at times, is saying here, it would almost seem the Fed is NOT targeting inflation (by ignoring the evidence).

  10. Market Watch.
    Downward revisions have become a regular feature of the monthly jobs report. Data show the initial reading has been revised down for 10 of the last 12 months.
    Want to see how our economybis doing. Checknyour wallets.

  13. Until it is reviesed down by 200k like December. Just make up any number you want. Oh that what is going on. And they will cut rates before the election.

  18. why does he think we need lower rates??? just to say it it is too high doesn't justify anything… why is it too high?? your experts need to provide justification.

  24. Job reports, CPI and GDP are all cooked like hell.

    Look at acual macro and its bad, inflation and stagnation is still happening imo

  26. The job numbers for December and January were revised down by about 170,000 jobs, which had been common for nearly all reports in 2023. For March, about half of the 300,000 new jobs reported were once again in healthcare and government, both unproductive sectors. If a month from now the March figure is revised down by, say, 60-70,000 jobs, which has been common, you end up with an increase in productive jobs of about 70-80,000. And if you look closer at the composition of those remaining jobs, they are in low-paying service sectors like hospitality, often part time. Whatever job growth is out there, it’s much smaller than what’s being reported and tied to government hiring and massive deficit spending.

  27. Wrong, please looks what jobs we added into the market. Those are not high paying jobs except health care. Remember, high rates won't fix the housing shortage issue, high auto insurance fees, high health insurance fees. Please do not extinguish the middle class families. They have many bills to pay.

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