Squawk on the Street SOTS 2nd Hour: Jobs Report & Big Tech Breakdown, PLUS: SEC Chair, Goldman’s Chief Economist, & Atlanta Fed President Bostic 8/1/25
Aug 1, 2025
Rafael Bostic, the Atlanta Fed President, offers unique insights into the disappointing July jobs report and its implications for the economy. He discusses the Fed's tough decisions amid tariffs impacting inflation. The conversation also dives into Goldman’s case for stagflation, while the SEC's new Project Crypto attracts attention for its regulatory promise. Bostic notes a few hopeful signs in a challenging environment, and the hosts dissect the latest shifts in big tech stocks like Amazon and Apple in response to economic pressures.
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Economy at Stall Speed
- The economy is growing very slowly and risks show downside in the labor market.
- Revisions and soft data strengthen the case for a Fed cut in September.
Fed Divides on Tariff Inflation
- The main Fed debate is whether to look through tariff-induced inflation or treat it as persistent.
- Dissenters want to look through; the Chair and majority see tariffs as a potential ongoing inflation factor.
Labor Market Weakening Signals
- Revised jobs data suggests labor market is slowing more broadly than earlier believed.
- Inflation risks still outweigh employment concerns but the balance could shift with more weakening.