April Exceeds Expectations, 3.6% Unemployment Lowest Since ’69

Business
May 3rd, 2019 3:06 PM
April was a great month for jobs with another upside surprise. CNN reported on May 2, that it was expected to be “a healthy but unspectacular” 185,000 jobs. Unemployment was expected to remain at 3.8 percent. MarketWatch was expecting a “robust increase” of around 213,000 jobs.

Two Out of Three Evening Shows Omit GDP ‘Whopper’

Business
April 30th, 2019 10:13 AM
The U.S. economy grew so much more than expected in the first quarter that CNBC’s Rick Santelli called it a “whopper” and “really powerful” news on April 26. A day later, the news made the front page of The Washington Post and The New York Times. The broadcast networks were less enthusiastic. Two out of the three evening news programs skipped the story entirely that…

CNBC’s Santelli Lauds ‘Whopper’ 3.2% Economic Growth

Business
April 26th, 2019 2:47 PM
Economic growth bested expectations by nearly a percentage point in the first quarter, and “pushes back” against recent recession fears, according to CNBC. “First look at first quarter GDP and it is a whopper! 3.2 percent.” on-air editor Rick Santelli announced on April 26. “A 3 handle on first quarter. It’s supposed to be the dog of the year in terms of which…
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Blockbuster 312K Jobs ‘Good for the Economy,’ ‘Working People’

Business
January 4th, 2019 11:06 AM
The December jobs report crushed expectations on Jan. 4, with 312,000 jobs added, a strong participation rate, wage gains and two months of upward revisions. That was 136,000 jobs more than expected.
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Rick Santelli: First Two Years of Obama Were ‘A Boot on Business’

Business
September 7th, 2018 11:51 AM
Authoritarian governments are known for having a boot on the neck of freedom. CNBC’s on air editor Rick Santelli said the Obama administration had a "boot on business." Santelli was rumbling with former Obama official and Brookings Institution economist Aaron Klein over taxes, spending and whether the Obama administration enacted “pro-growth” economic reforms.

CNBC: 213,000 Jobs Added in ‘Great Report,’ ‘As Good as It Gets’

Business
July 6th, 2018 2:26 PM
Last month, 213,000 new jobs were added to the U.S. economy — more than expected by analysts. Jobs figures from the previous two months were also revised up by a total of 37,000 jobs. This good news about job gains and increased participation in the labor market drew praise from CNBC’s panelists on July 6, even from former Obama administration economist Jared Bernstein.
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AP on Record-Low Black Jobless Rate: 'Taking Chances' on the 'Ignored'

June 3rd, 2018 7:36 AM
In his coverage of Friday morning's stellar jobs report, the Associated Press's Chris Rugaber came up with a couple of doozies aimed at curbing readers' enthusiasm. The AP economics writer half-expected that employers would rein in their hiring over confrontational rhetoric President Donald Trump and other foreign leaders have recently engaged in over trade and tariffs. He also…

Santelli on First Quarter GDP: ‘Holy Cow! Better Than Expected’

Business
April 27th, 2018 11:39 AM
On-air editor Rick Santelli announced the first quarter gross domestic product (GDP) estimate for CNBC’s Squawk Box on April 27. “Holy cow! Better than expected up 2.3 percent. You know many were thinking, and there’s a lot of reasons to believe so, that it would be a bit under the 2 percent. So 2.3 of course, as follows 2.9 last quarter,” Santelli said.

Networks Ignore Consumer Confidence Rebound to ‘Lofty’ Levels

Business
April 27th, 2018 11:06 AM
CNBC’s on-air editor Rick Santelli reacted to the April consumer confidence numbers positively, but the same night ABC, CBS and NBC evening news programs all ignored the latest update of consumer attitudes toward the economy, as did their Spanish-language counterparts, Univision and Telemundo. “Some breaking news: Consumer confidence, we are looking for a read on April and the…
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CNBC’s Santelli: People Want to ‘Put Cold Water’ on Trump Rally

Business
February 17th, 2017 3:11 PM
Rather than rejoice over the stock market rally, many people are pushing economic pessimism and that upset CNBC’s Rick Santelli. The CNBC editor and contributor complained about the pessimism on Squawk Box Feb. 16. “Much of the world always finds something to cheer about, always finds hope in every stock market. This particular rally, because of the president, everybody wants to put…
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CNBC’s Santelli Calls Out Chuck Todd for Picking Sides in Election

January 8th, 2017 2:31 PM
Sparks flew on the set of NBC’s Meet the Press Sunday morning as CNBC’s Rick Santelli accused moderator Chuck Todd of picking sides during the election. The confrontation occurred during a conversation about Russian meddling in the election and claims that intercepted communications showing their glee for Donald Trump’s victory. “To see Russians happy because Trump won: On…
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Press Yawns, Santelli Goes Off as Fed Wants to Be Able Buy Stocks

September 30th, 2016 10:17 PM
On Thursday, Federal Reserve Chairman Janet Yellen suggested in a videoconference call, as translated into plain English by the Wall Street Journal, that "there could be benefits to allowing the central bank to buy stocks as a way to boost the economy in a downturn."
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After Brexit, CNBC's Rick Santelli Cheers ‘Tea Time in London’

Business
June 24th, 2016 12:33 PM
Shocking the whole world, the British people voted on June 23, to leave the European Union — a move nicknamed Brexit. Unexpectedly, the Leave voters won 52 to 48 percent. Although there was much anger at the decision, there were also plenty of voices cheering on the British on June 24. That chorus included CNBC On Air Editor Rick Santelli who acknowledged there would be economic…
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CNBC’s Santelli Sees ‘Disconnect’ Between Data, ‘Good Jobs’

Business
June 3rd, 2016 12:39 PM
In spite of expectations that 160,000 jobs or more were added in May, the latest jobs report was a shocker showing just 38,000 job gains last month. CNBC’s Squawk Box panelists reacted live to that surprising Labor Department report on June 3, which showed that employment increased by a mere 38,000, while unemployment fell to 4.7 percent. However, low labor force participation…