U.S. can have 'great job growth' without a recession: Fmr. Labor Secretary
Tom Perez, Former U.S. Labor Secretary, discusses what the January jobs report will mean for Fed rate hikes.
You can see the full interview here.
Key video highlights
00:10 On the drivers for rate hikes
00:26 On job growth
TOM PEREZ: We have seen deceleration in wage growth, and we've seen an even greater deceleration in inflation. So I think it's really important for the Fed to understand that the drivers that are having them think about further raises, further hikes in interest rates, those drivers were a war, a supply-chain disruption, the pandemic. It's not wage growth. We can continue to have great job-growth numbers without throwing ourselves into another recession.