The June Jobs Report and President's Tax Bill

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 3rd, 2025
Featuring:
1) Claudia Sahm, Chief Economist at New Century Advisors, brings us into the June jobs report and talks about the health of the labor market. Sarah Wolfe, Senior Economist and Strategist, Thematic & Macro Investing at Morgan Stanley and Kristina Campmany, Senior Portfolio Manager at Invesco, also offer their analysis of the jobs numbers.
2) Patrick McHenry, former House Speaker pro tempore and current Advisory Board Member BGR, joins to discuss President Trump's tax bill debate in the House. Despite Republicans controlling both the US House and Senate, Trump’s signature legislation ran into resistance from cost-conscious conservatives as well as swing-district moderates, who worry the measure cuts too deeply into Medicaid and other safety-net programs.
3) Wendy Schiller, professor at Brown University, on President Trump aiming to push through his economic agenda early in his second term. President Trump repeatedly blasted Republican lawmakers resisting the legislation as “grandstanders” and threatened to oppose reelection of members who block his agenda.
4) Rebecca Patterson, former Chief Investment Strategist at Bridgewater, reacts to the jobs report and markets. Investors are also closely tracking the US fiscal situation as President Trump aims to implement his economic agenda.
5) Yelena Shulyateva, Economist at the Conference Board, on JOLTS, June Jobs report, ADP, and the US economy. Concerns about mounting US deficits and the detail of Trump’s bill may weigh stronger on bond investors’ minds than the jobs report according to some market commentators.

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