Roger Ferguson on December jobs report: I'd take a pause in January

Summary

Roger Ferguson, former Federal Reserve Vice Chairman, joins Squawk Box to discuss the December jobs report and Fed policy. He calls the report mixed and soft, with weak top-line job growth but an improving unemployment rate. He would pause in January and wait for more clarity, expecting no Fed move at the next meeting. He also says tariffs are unlikely to be a major factor for monetary policy and comments on AI's uneven impact on the labor market.

• December jobs report was mixed: 50,000 top-line growth versus 70,000 expected.
• Unemployment rate moved in a more positive direction.
• Ferguson would pause in January and wait for clarity.
• He sees no Fed movement at the January meeting.
• Market expects 50 basis points of cuts over the year.
• Tariff issues are seen as less relevant to Fed policy.
• AI adoption is broad and uneven, with some labor-market impact already visible.