Bloomberg Audio Studios, podcasts, radio news. A single best idea, which is Jobs Day even greater. September may give us two jobs days. There's a jobs Day today and on September ninth, next week. This huge revision. Some people say it's not a big deal. Many others shout out Stephen Englander, Stephanie Roth, Anna Wong. They say it's a big deal. We'll see we have two jobs days in September, and we'll give you as good a coverage as we can. Today we are in Fanish. Rebecca Patterson joined us here
and we talked about investment as well as jobs. Here's Rebecca Patterson on retail out front of the Street.
Stocks are near all time highs now. I think a lot of that is retail investors. I think a lot of that still is investors who want exposure to the more structural trade themes like AI beneficiaries, global defense, and infrastructure. But that is still creating wealth for consumers which allows them to keep spending. So I think the risk appetite is there. But I think gold is sending us a
signal up thirty five percent year to date. You know, I worry that we're going to have a Brexit moment that everything is fine, fine, fine, and then suddenly it's not. And that's what we saw in twenty sixteen when the referendum was announced in February till the vote in June, UK markets were commcom com and then June twenty third we got the vote and suddenly people said, oh, this is actually real, and everything collapsed.
So Rebecca Patterson there were the Council on Foreign Relations, look for her essays. You'll see him in the FT and at Bloomberg. W really look for Rebecca Patterson on that important Brexit idea at the Council on Foreign Relations where she holds court. Claudia sam with us is always on job, says what a value add not of the sum rule, but Claudius on the idea of what part of America is struggling.
There are demographic groups that have unemployment rates in the best of times that look like recessions for other demographic groups. I mean, we have some real structural problems and differences in our economy. The fence tool with interest rates is a really weak tool. So the best thing they can do, and it helps everybody and particular those on the margins, is to keep the economy as stable as possible, keep inflation low, keep unemployment low, and that is their mandate.
But that's a bigger mandate that goes beyond the Fed.
Claudia sam They are providing assistance before a jobs report that confirm the caution of so many a twenty two thousand statistics some revisions that were challenging as well. The unemployment rate ticks up from four point two to four point five percent. One observation I want to mention that was published today. It's not a single best idea, but
we'll take it. We'll steal from Peter Bearson. He's a bank credit analyst, which is a hugely prestigious shop out of Montreal, a wonderful multi decade tradition and Barrison Health Court at Gold and Sachs for years, and he says, look at the people seeking a job who aren't in
the labor force. It's growing each and every day. Michael Gabin suggests we may see seventy five basis points of cuts here in this new job economy on podcasts where at Apple or at Spotify YouTube podcasts as well, it's single best idea