Trump Says Fed Must Cut Rates

Insight & analysis on the White House and Capitol Hill.

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US job growth surged in August and the unemployment rate held steady, suggesting the labor market has more momentum than previously thought.

Nonfarm payrolls increased 162,000 last month and July’s job losses were revised away, according to Bureau of Labor Statistics data out Friday. The August increase topped all estimates in a Bloomberg survey. The unemployment rate remained at 4.1%.

The report indicates the labor market is powering through uncertainty from the Iran war and pressure from inflation. Federal Reserve officials will likely read it as bolstering the argument for raising interest rates, though next week’s consumer price data will prove key to the central bank’s decision later this month.

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:

• Bloomberg White House Correspondent Skylar Woodhouse.
• Groundwork Collaborative Vice President Liz Pancotti.
• Stonecourt Capital Partner Rick Davis and Harvard Kennedy School Ash Center Visiting Democracy Fellow Jeanne Sheehan Zaino.
• Bloomberg News US Economy Editor Reade Pickert.
• BlackSun CEO Atonn Muhammad and former professional boxer Roy Jones Jr.

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