Squawk on the Street SOTS 2nd Hour: December Jobs Report - Goldman's Takeaways, Rockefeller's Ruchir Sharma; Plus - SCOTUS/Tariffs Decision Latest 1/9/25
Jan 9, 2026
Joining the conversation are Jan Hatzius, Chief Economist at Goldman Sachs, and Mohamed El-Erian, Chief Economic Adviser at Allianz. They delve into the December jobs report, highlighting weak payroll growth and a drop in unemployment. El-Erian discusses how AI might affect labor dynamics, stressing the need for policies that enhance productivity rather than merely cut costs. Hatzius predicts a disinflationary trend by 2026, emphasizing the Fed's focus on balancing demand and supply amid ongoing economic shifts.
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IEPA Tariffs Put $133B At Risk
- The Supreme Court case targets tariffs collected under the IEPA, with $133 billion at stake of $251 billion total tariff revenue.
- Eamon Javers highlights potential large refunds if the court strikes down IEPA authority.
No Tariff Ruling Today
- The Supreme Court did not release a decision on tariffs today, extending uncertainty for companies paying tariffs.
- Eamon Javers notes the delay gives the White House more time to prepare legal fallback options.
Consumer Sentiment Improved, Inflation Still Sticky
- University of Michigan preliminary consumer sentiment rose in January, led by lower-income households, and inflation gauges remain elevated.
- Rick Santelli highlights improving sentiment and warns key market levels could trigger selling if broken.