Hassett Praises Jobs Data, Slams Fed Chair Powell

White House National Economic Council Director Kevin Hassett praised the June US employment report on Friday, calling the jobs market on an "upward trajectory." Speaking on Bloomberg Open Interest, Hassett also took aim at Federal Reserve Chair Jerome Powell, criticizing him for staying on at the central bank. The remarks come amid ongoing debate over the Fed's policy path and the strength of the labor market.

The June jobs report showed solid gains, reinforcing the view that the US economy remains resilient despite elevated interest rates. Hassett's comments suggest the administration sees the labor market as a key strength, while his criticism of Powell signals potential friction between the White House and the Fed. For equity traders, a strong jobs market can support corporate earnings and consumer spending, but it may also reduce the urgency for the Fed to cut rates, keeping borrowing costs higher for longer. NowPrice's real-time stock quotes allow traders to track how markets react to such political and economic crosscurrents.

Looking ahead, market participants will focus on upcoming inflation data and Fed communications for clues on the rate outlook. The July Federal Open Market Committee meeting will be closely watched, especially for any shifts in the Fed's stance. Additionally, corporate earnings season is approaching, which will provide further insight into how businesses are navigating the current economic environment.