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U.S. can have 'great job growth' without a recession: Fmr. Labor Secretary

Yahoo Finance Video

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

Video transcript

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.