CEA Chair Phelan says the Fed's rate hike 'was a mistake

Council of Economic Advisers Chairman Christopher Phelan tells Yahoo Finance's Jennifer Schonberger the September jobs report, which showed 29,000 jobs added according to the Labor Department, was better than it looks, and that the unemployment rate barely moved as more people joined the labor force. Phelan says AI has not yet shown up as a job killer in the data, explains why he doesn't think the AI investment boom is inflationary, and repeats his view that the Federal Reserve's September rate hike was a mistake, pushing back on Bill Ackman's argument that higher rates won't slow AI demand. 00:00 CEA Chair Christopher Phelan on the September jobs report 00:34 "The job gains actually were pretty good" 01:26 Can hiring break out of its slow trend? 02:35 Is AI hurting the job market? 03:03 Is the White House planning for AI job losses? 04:51 Is the AI boom inflationary? 06:18 When will AI boost productivity? 07:05 Was the Fed's rate hike a mistake? 08:38 What if the Fed hikes again? #JobsReport #Fed #AI #YahooFinance == AlphaSpace by Yahoo Finance: A Professional-Grade Investment Platform Built for Everyday Investors. 👉 https://finance.yahoo.com/about/promos/gold/alphaspace?ncid=100003571

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