Live on Bloomberg TV

00:00Randy we had gradualism in a measured moment with Greenspan is that history now with this art economy that's history that is long long behind us. You can see that the Fed now is trying to move expeditiously. Exactly. As you said this is completely consistent with their desire to move fast. And I think they are very likely to go 75 basis points at the next meeting. Obviously we'll get some inflation data between now and then. They're also going to get a GDP report because they'll know the numbers before we know them when they make their decision on Wednesday. We'll find out on Thursday fact at the end of the month. But I think they're going to go 75 and I think there's nothing in this report that would slow them down from that. Randi this just a question I have and I want to make too much of a big data base just something that keeps jumping out to me. We keep churning out really robust jobs growth payrolls three hundred seventy two thousand unemployment's pretty stabilized at three point six percent. I'd love your thoughts on what you make of that. Well I mean this is exactly as Mike said. You've got two different surveys and different ways of gathering the data. So they're not always exactly the same. And we don't always know. Month to month why. One is going one direction. One's going another direction. But I think both of them point to pretty robust robust job job market right now. But I do see that weakening by the fall. And what do you make of a lower participation rate sixty two point two percent Randi. Well it's sort of been bouncing around sixty two point two sixty two point three. I think you know it's small enough to until a month to month movements to that. It's too difficult to make too much of that. But I think what it says is that there's a large number of people who I think are just not going to come back into the labor market. I think especially older workers that had come in really really robustly before the before the pandemic strike. I've just said this is just too risky. There's really no need for me to be in the. In the job market being exposed. I want to be spending time with my kids. I want to be spending time traveling with my loved ones. And I think we're just not going to see the labor force participation rate move up to where it was pre pandemic.

No schedule data available.

Jobs Market Robust But Will Weaken, Kroszner Warns

Former Federal Reserve Governor Randall Kroszner, a University of Chicago Booth School professor of economics, says the June US employment report will spur the Fed to hike 75 basis points at the next meeting. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)

More From Bloomberg Surveillance
All episodes and clips

Bloomberg Markets
"Bloomberg Markets" is focused on bringing you the most important global business and breaking markets news and information as it happens.
More episodes and clips