Jobs report doesn't motivate the Fed to move at end of month, says Fmr. Dallas Fed President Fischer

Summary

Richard Fisher, former Dallas Fed President, discusses the latest U.S. jobs report and its implications for the Fed. He argues the report does not push the Fed to move at its end-of-month meeting, with inflation still the key variable. He also highlights strong gains in gold, silver, and platinum as hedges against the dollar and U.S. economic confidence, and comments on tariff uncertainty ahead of a Supreme Court ruling.

• Nonfarm payrolls missed estimates and prior months were revised lower, but unemployment ticked down.
• Fisher says the jobs and growth data do not compel the Fed to move at its upcoming meeting.
• He emphasizes inflation data as the Fed's key focus, with CPI and PPI due next week.
• Gold, silver, and platinum have posted strong gains, which Fisher views as hedges against the dollar and U.S. economy.
• The dollar has risen only modestly, which Fisher says may signal lack of confidence in the U.S. economy.
• Fisher says a Supreme Court tariff ruling could be disruptive and a tariff rollback is possible.
• He notes equity market strength but does not offer a specific equity trade.