Is the Economy Breaking? Wall Street Vet Robert Wolf on the Brutal Jobs Report

Wall Street titan Robert Wolf — former Chairman & CEO of UBS Americas and top economic adviser to President Obama — unpacks a brutal jobs report that came in at -92,000 (economists expected gains), surging oil prices driven by Iran's chokehold on the Strait of Hormuz, and why he thinks America is heading into what he calls a "jobsession." From the K-shaped economy squeezing the middle class to stagflation risks, AI-driven layoffs, and what the Fed should do next, Wolf draws on his experience inside the room during the Lehman crisis and the Obama-era oil shocks to explain what's really happening — and what powerful people are thinking behind closed doors. Tara Palmeri is one of the most feared and fearless reporters covering power and politics. She has 15 years of experience covering national politics and foreign affairs. She was formerly a White House Correspondent for ABC News where she covered the first Trump administration. She was the chief National Correspondent for POLITICO during the Biden administration. She has been a political analyst for CNBC, CBS and CNN. She started her career as a columnist for the Washington Examiner and then went on to report for the New York Post. She was a foreign correspondent for POLITICO Europe, where she covered international affairs, including Brexit. She hosted the Ringer's political podcast "Somebody's Gotta Win" and wrote a column for Puck. Tara also hosted two acclaimed podcasts on Jeffrey Epstein, "Broken: Jeffrey Epstein" and "Power: The Maxwells." Tara currently hosts the Tara Palmeri Show. For more of her reporting, subscribe to her weekly newsletter, "The Red Letter." https://tarapalmeri.substack.com/ https://www.tarapalmeri.com/subscribe The latest from the 'Red Letter': https://www.tarapalmeri.com/p/is-it-time-to-take-the-oligarchy https://www.tarapalmeri.com/p/gen-z-guru-rachel-janfaza-on-whether https://www.tarapalmeri.com/p/is-big-gretch-cooked To support her mission of independent journalism, consider donating to her GoFundMe account: https://gofund.me/0c46f9a5 Listen to the 'Tara Palmeri Show': Apple https://apple.co/4lWeFuo iHeartRadio https://iheart.com/podcast/273622585/ Amazon Music https://music.amazon.com/podcasts/cdfe747e-54a2-47ae-9ec5-15957642e533/the-tara-palmeri-show Spotify https://open.spotify.com/show/3kgamV3lbZIGIHW2H0XUTR?si=1ffdbb566a964bc1 New videos from Tara are released 5PM EST on weekdays and Sunday https://www.youtube.com/@TaraPalmeri Follow Tara: https://www.instagram.com/tarapalmeri/ https://x.com/tarapalmeri https://www.tiktok.com/@tarapalmeri For inquiries, email: [email protected] Is the Economy Breaking? Wall Street Vet Robert Wolf on the Brutal Jobs Report Chapters 00:00 Why the Stock Market Doesn’t Reflect the Real Economy 00:20 Who Actually Owns the Stock Market in America 00:42 Why Obama’s Team Avoided Using the Market as a Metric 00:59 GDP Grew 2.2% — Is That Actually Good? 01:23 What Growth Rate the U.S. Economy Really Needs 02:07 The Biggest Risks to the Economy Right Now 02:32 How AI Could Disrupt Jobs and Markets 03:34 Inflation, the Fed, and Interest Rate Decisions 04:20 The Massive AI Spending Boom Explained 05:34 Why Some Experts Are Getting Nervous About the Economy