[Baldwin:] New jobs numbers are out today, the same day that President Trump once again dissed his Fed chair. But this time it comes as Jerome Powell is giving the president something he desperately wants, talk about a recession maybe not coming.
[Jerome Powell, Federal Reserve Chairman:] Our main expectation is not at all that there will be a recession. I did mention, though, that there are these risks, and we're monitoring them very carefully. And we're conducting policy in a way that will address them.
[Baldwin:] The jobs report found 130,000 jobs were added, but hiring is slowing. And the president tweeted this: "I agree with Jim Cramer the Fed should lower rates. They were way too early to raise, way too late to cut, and big dose quantitative tightening didn't help didn't exactly help either. Where did I find this guy Jerome? Oh, well, you can't win them all." Lindsey Piegza is the chief economist at Stifel. So, Lindsey, let's first just begin with the news from the Fed chair, right, who says there's been all this, is there a recession to be had? He says he doesn't see one coming? That seems pretty significant coming from him. What do you think?
[Lindsey Piegza, Economist:] Oh, absolutely. He was generally optimistic about the current state of the economy, as he has been. But he was also quick to recognize some of the mounting risks weighing on the outlook, including the risk of deteriorating global growth, as well as a trade relations. So, at the same time he was pointing out, yes, the economy is still on firm footing at this point, he also reiterated that the committee is willing and able to step up and provide additional support should we see the economy falter. So they are paying very close attention to the data, and each data point is really driving the next move that they take in terms of policy.
[Baldwin:] And then, when you look at the jobs numbers, really some positive news for black America, for example, African-American unemployment, the rate falling to record low to 5.5 percent from 6 percent. It was a record low for the data, which has been collected since early '70s. Apparently, a lot of black women are getting work. What do you make of this? Why is this happening?
[Piegza:] Well, I think the labor report was actually a little mixed. Yes, we did see pockets of improvement, particularly, as you mentioned, in terms of the unemployment rate in the African-American community. But when we look at the top-line payroll number, just 130,000 jobs were added. This is a noticeable slowdown from a more robust pace that we had seen at the start of the year. So we're still creating jobs for Americans on a month-to-month basis, but the pace of that job creation has slowed considerably. So this really is sort of that middle-of-the-road report, where the Fed doesn't necessarily see recession in and of itself because of this morning's number, but it falls well, sort of the strength that the committee was looking for to give them room to maybe back off from providing additional accommodation near-term.
[Baldwin:] Yes, I hear you loud and clear on the just 130,000. Lindsey Piegza, thank you so much for your analysis. Good to have you back.
[Piegza:] Thank you.
[Baldwin:] Bolton vs. Pompeo. CNN has learned that the relationship between these two key advisers at the White House has hit a new low. Also, bound by two mass shootings high school rivals in football El Paso and Odessa unite on the field for an emotional display of unity.