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Speaker 1: We've got Mohammad al Arian standing by Bloomberg Opinion columnists,

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Speaker 1: President of Queen's College, Cambridge. Mohammed, let's stal with the well, first,

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Speaker 1: what do you make of that?

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Speaker 2: Wow? I mean, what an amazing job report. It just

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Speaker 2: confirms that this is an exceptional labor market that's going

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Speaker 2: to feed into the exceptionalism of the US economy. I

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Speaker 2: do think it's a bit of a headache for the

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Speaker 2: FED because of the wage growth numbers. Lots of people

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Speaker 2: have been warning about wage growth, about service inflation, and

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Speaker 2: that just we emphasizes that morning. And then finally for

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Speaker 2: your markets, Look, this means March is off the table.

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Speaker 2: March should have been off the table for a while,

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Speaker 2: as you and I have discussed, but this means March

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Speaker 2: is off the table. It also means that you are

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Speaker 2: more likely to get the three cuts that the FED

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Speaker 2: has signaled three to four, rather than the higher number

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Speaker 2: that the market has been romancing.

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Speaker 3: I think that May is potentially off the table too, Muhammed,

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Speaker 3: given the fact that we're seeing wage pressures that are

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Speaker 3: going in the wrong direction for the FED.

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Speaker 2: You know, I was with you last week and I said,

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Speaker 2: June is what I think should happen and what I

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Speaker 2: think is likely to happen, and that this report just

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Speaker 2: feeds into that.

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Speaker 4: Mohammad, So what do you think it means in terms

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Speaker 4: of the US election? Can they cut closer to the

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Speaker 4: election now? Given March is off the table, what's the

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Speaker 4: window they actually have?

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Speaker 2: So Anria, I'm going to ask you whether you think

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Speaker 2: the FED is influenced by politics. I tend to believe

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Speaker 2: the view that the FED is apolitical and that they

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Speaker 2: will do what they think is right for the administration.

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Speaker 2: This is a two sided sort because on the one hand,

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Speaker 2: it is good for them that the economy is doing

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Speaker 2: so well. On the other hand, there is concern that

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Speaker 2: as you get closer to the election, you start is

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Speaker 2: going to start getting the weakening that results from buffet

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Speaker 2: balance sheets havn't been used to power this economy. So

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Speaker 2: you know, it's good news for them right now, but

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Speaker 2: I think that they have to keep an eye to

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Speaker 2: what's going to happen closer to November.

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Speaker 3: I'm looking through these numbers and the revisions are just

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Speaker 3: sort of stunning as well. I mean, everything is just

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Speaker 3: being revised up to the upside. Also just coming in

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Speaker 3: hotter than expected. Mohammad, what do you make of that,

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Speaker 3: the fact that people are getting it wrong, and they're

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Speaker 3: not getting it wrong for the weakness. They're getting it

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Speaker 3: wrong for the incredible strength under the hood that's behind

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Speaker 3: some of the strength that we've seen so.

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Speaker 2: Far, and that has been the consistent story, Lisa for

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Speaker 2: the last eighteen months. You know, I keep on reminding

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Speaker 2: people that going into twenty twenty three, the consensus is

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Speaker 2: consensus was recession. We ended up with a nearly five

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Speaker 2: percent growth rate in the third quarter, three point three

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Speaker 2: percent in the fourth quarter. Estimates suggest that strength remains

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Speaker 2: and pending corrections from Mike McKee, who's looking at the

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Speaker 2: details this at first sight and I just had a

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Speaker 2: very quick quick glance, it looks like a very broad

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Speaker 2: based strength. So this is not something that you can

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Speaker 2: easily assume a way. This is something that you have

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Speaker 2: to take seriously. This economy is still strong in a broad.

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Speaker 1: Base, Muhammad, stay close if you are just joining us.

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Speaker 1: Blowout jobs report