Kevin Hassett Says Jobs Report ‘Way Better’ Than Expected — Favorable CPI Could Make ‘Strong’ Argument To Hold Rates Steady - Stocktwits

The U.S. jobs report came in “way, way better” than expected, according to White House National Economic Council Director Kevin Hassett, who said on Friday the data pointed to a broader investment boom fueled by reshoring, factory construction and artificial intelligence infrastructure. In an interview with CNBC, Hassett said the next major test will be the consumer price index due next week. “If the CPI continues to be that favorable in the next report, the argument for holding steady would be pretty strong,” he stated. The U.S. economy added 162,000 jobs in August, according to data released Friday, sharply exceeding the roughly 56,000 gain economists had expected.