TechFlow News: On February 9, according to JIN10 Data, Kevin Hassett, Director of the White House’s National Economic Council, stated in an interview with CNBC regarding the labor market that employment data should be expected to decline—but this should not trigger panic. Hassett argued that despite sluggish population growth, surging productivity growth means lower employment figures can still align with robust GDP growth. His remarks on labor-market data drove U.S. Treasury prices higher, prompting commodity trading advisors and short-term trading accounts to chase gains. Additionally, Hassett described GDP growth as “very strong,” forecasting a year-end growth rate of 4.0% and an overall annual growth rate of 3.0%, while attributing last year’s first-quarter negative growth to the Biden administration.
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