There's nothing in the data that will allow the Fed to cut rates in June, says Kevin Hassett

Kevin Hassett, former CEA chair and Hoover Institution distinguished visiting fellow, joins 'Squawk Box' to discuss the state of the economy, why he believes the economic data is inconsistent with inflation being under control, the Fed's inflation fight, and more.

[@kortyEdna825]

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[@joeplummer5069]

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[@christiancoronado]

Finally, a guest who doesn't let Andrew interrupt

[@mikeshaunnessey9303]

Rate cuts are wishful thinking by equity traders.

[@chrisginoc]

2025 the earliest rate cuts take place

[@skipmatsey8352]

Can AI pay down excessive government debt and stop the invasion on the Southern border?

[@willkelly8315]

Besides Nvidia, which companies are actually seeing real, tangible earnings increases from AI?

[@DaveOriginallyfromBrooklyn]

Finally a voice of reason it’s obvious.

[@thebigpedro1416]

Did they mute Sorkin's mic? Odd that he let somebody speak for more than 10 seconds without launching into a monologue.

[@drtomgao]

I just finished an AI course at Stanford and there is no way companies can have 10-20% productivity gain in a few months. This is ridiculous name dropping like this.

[@radearpurba3589]

Thanks for this information 🤔😔😔🙏

[@lanerichardson4105]

These current economic circumstances remind me of the past few recessionary cycles we had (minus covid which was anomalous). In the early 90s, 2000-01, 2007-08 and now today there was: 1) an inverted yield curve 2) a rate hike cycle that triggered a recession between 2 and 9 months after the first rate cut 3) low unemployment relative to the average during the economic cycle 4) a period of time where inflation rose between 2.5% and 6% months before the recession 5) and to top it off, economic analysts and mainstream media saying that we’ve achieved a soft landing. I was looking at articles from 2007 and 2000 claiming, just months before we entered a recession, that “the Fed Chair can now rest easy knowing we’ve achieved a soft landing.” History often rhymes and I think that once the Fed begins to cut rates we can expect to be in a recession before Spring 2025. Nothing to be worried about I don’t think since it’s just a natural part of our economic cycle.

[@chrisginoc]

The problem is that these talking heads never have and never will say the truth. You know how much panic or chaos would ensue? Everything needs to seem rosy for the masses. You can even find articles and videos of Ben Bernake saying the sub prime mortgages were not cause for concern leading up to the 2008 crash...

[@PeterSedesse]

The fed has too mandates. Inflation at 2% and as many jobs as possible. Inflation is well above 2, and jobs numbers are great. Wall street has this misconception that the fed should be trying to keep interest rates low as soon as possible. No, the fed will wait it is sure inflation is going to 2% or there is some huge problem with jobs.

[@fhowland]

Yeah but their 3rd, unwritten mandate is to keep the US from having a debt crissi

[@chrisginoc]

We don't need job loss to lower inflation.

[@kronosaurelius]

Since we are all expecting the office real state to crash any time now, I would expect the interest rates to come down this year.

[@jaym9846]

Price of base Camry rose $23K (before kovid) to $29K (now). Let me check my pay check.

[@kronosaurelius]

The fed could come down one tenth of a basis point in June. It wouldn't be zero and yet it would give a massive optimistic boost to the economy.

[@chrisginoc]

Only equities and traders (gamblers). A 25bps cut will not make people rush to car dealerships to buy cars they can't afford, buy homes they can't afford, etc. 25bps won't do anything

[@erniewinn4896]

The economy will tank regardless of interest rates. I see a depression on the horizon.

[@freedomrulesjavier3904]

???? Explain in detail

[@user-vb5in3pu3s]

7-8 percent thirty yield been saying it all along. The economy is already cooked like dinner. It's just whether we see a massive crash in assets.

[@user-ol7tl1vf5m]

some of the issues surrounding fiat currency, such as inflation and centralized control, can be described as mathematical facts based on economic principles and observations. Inflation, for example, is a quantitative measure of the rate at which the purchasing power of a currency declines over time, often due to an increase in the money supply. Similarly, the centralized control inherent in many fiat currency systems means that decisions about monetary policy, including the creation and distribution of currency, are made by a relatively small group of individuals or institutions, rather than through decentralized consensus mechanisms. These mathematical facts can indeed shape individuals' perceptions and decisions regarding currency systems and may influence their willingness to explore alternative options like decentralized currencies.

[@adrianfigueroarodriguez5854]

If you already have skilled talent and the tec. to "upgrade your workforce", than the investment to return is much greater than just letting people go (for short term debt "fix"), The higher the stock market goes, and the lower inflation gets, the greater the wealth those that invest will recive. My 2 cents.

[@swaep114]

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[@rickhayes-oh2zm]

how about lenders. Trying to get their money back.

[@randoroo2540]

These political "economists" are the worst. Both left and right. It's so transparent what motivates them, and it's not economics

[@backdoormanintheend]

There are plenty of jobs that AI can't do (manual labor such as building EV related factories here in the south). And there are a lot of jobs that AI can help humans work more productively. So job growth isn't contrary to AI growth. I certainly agree that we need fiscal belt tightening.

[@kman0074]

Ai can control the robots to build a factory. We are all getting replaced.

[@willtwain1383]

Hassett cannot be relied on. He is a hardcore Republican.

[@Bradgilliswhammyman]

I don't remember Joe or Kevin talking about the debt during Trump's term...hmmm interesting.

[@vivienne192]

Commercial real estate is about to implode

[@DaveOriginallyfromBrooklyn]

He’s a Republican of course lefty Andrew will try to interrupt.

[@JamesArthur-qz2fm]

Maybe the next president will cut entitlements which will lower inflation and the debt what do you think Joe

[@supermutant]

President Hoover, a GOP legend only after Reagan, Trump, and Coolidge. Talk about a little league lineup. Joe should take a break from booking guests that confirm his biases.

[@GeorgeSchneider8889]

You are underestimating Arthur Burns aka Jerome Powell

[@user-mp6ou3ms6g]

Lol

[@prolific1518]

Political Reserve is focused on getting Biden reelected buddy. Powell is Yellen.

[@Chitoalf88]

There is a clear disconnect between those who have & those who have not or none at all. Why not interview a regular Joe the Plumber on your show not these millionaires billionaires & trillionairs?

[@YesCivic-R]

Inflation is under control, since interest payment/med/car/home insurance gon up 30%, less disposal income to spend on consumer product/service. i.e nike and lululemon fall on sales.

[@Bradgilliswhammyman]

Kevin....cap ex has been going up in leaps and bounds due to GPU purchases by META and other large data aggregator companies.

[@user-mp6ou3ms6g]

Nothing at all?

[@user-mp6ou3ms6g]

Well . Lets breach walls maybe in Slovenia.

[@user-mp6ou3ms6g]

What ? Slovenia?

[@user-mp6ou3ms6g]

Ukrainnia

[@paulshantz3904]

Ai adding 10-20% productivity = 10~20% increased unemployment… and this is good how? What until ai eats useless talking heads on tv jobs

[@starship519]

Fed cant cut or the dollar becomes worthless while btc ,yuan and gold skyrockets

[@starship519]

@@aaronkerrigan241 yuan is inverse the dollar

[@starship519]

@@aaronkerrigan241 if the dollar loses value, the yuan will become the world reserve currency

[@starship519]

@@aaronkerrigan241 if the fed holds china will go into deep depression

[@starship519]

@@aaronkerrigan241 i dont have time to explain. Good luck

[@keto6789]

Blah blah blah

[@generalchemistrywithmike]

AI doesn't help people become more productive, it just helps them slack off more.

[@thelammas8283]

Why is it so important to reduce interest rates. Let capital have a higher return for a change

[@keto6789]

April is a good month!! I'm HOLDING!!

[@shadowmanmc1130]

Like a true Republican, can’t answer a yes, or no question but everybody else is a big failure in his eyes. What a joke.

[@LumenMichaelOne]

Welcome back Andrew Ross Sorkin ... 🫵 ... 👏👏👏 Yuh'Ol refreshed now? ... 🤙 🙂