RSM chief economist Joe Brusuelas joins Morning Brief to analyze the latest jobs report, which revealed the US economy added 143,000 new jobs in January. Both December and November’s employment figures were also revised upward. Brusuelas highlights the significance of the household survey, explaining that it supports the positive job gains and labor market expansion. “This means we’ve seen growth in the labor force,” he tells Yahoo Finance, noting that this development could help reduce wage pressure. Diving deeper into the data, Brusuelas suggests a potential reassessment of the Federal Reserve’s September rate-cut strategy. “In retrospect,” he explains that these numbers prove the central bank’s decision was “pretty good.” “We got disinflation moving through the economy via the wage channel,” Brusuelas adds. “There’s really nothing not to like here.” Watch the full video above to hear Brusuelas’s view on how this jobs report might influence the Fed’s monetary policy, particularly against the backdrop of uncertain White House policies on immigration and potential tax cuts.
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