Bannon`s War Room Episode 4603: House Takes On The Big Beautiful Deal; June Jobs Report
Jul 2, 2025
EJ Antoni, a labor economist and expert, lends his insights on the current state of the job market and economic trends. He discusses the dubious reliability of labor data post-COVID, raising questions about job creation statistics under the Biden administration. Antoni underscores the mixed signals from the Federal Reserve regarding interest rates and inflation. The conversation also delves into how technological advancements may threaten white-collar jobs and the debate over government spending that could affect social programs. Expect lively insights amid the political landscape!
AI Snips
Chapters
Transcript
Episode notes
June Jobs Report Misses Expectations
- The June jobs report revealed a significant miss with only 67,000 jobs added versus 100,000 expected, showing labor market softness.
- Fewer people are quitting jobs, reflecting difficulty finding comparable work and signaling a labor market slowdown.
Native-Born Americans Employment Gains
- Native-born Americans have seen a significant increase in employment, adding about 1.4 million jobs in the past year.
- This contrasts with under Biden, when foreign-born workers gained more jobs than native-born workers.
Fed Should Cut Rates Now
- Using the Fed's own models and its dual mandate, the Federal Reserve should be cutting interest rates now due to a softer labor market and improved inflation.
- The Fed's decision not to cut rates appears politically motivated rather than based on economic data.