CNBC’s Rick Santelli Responds to Pandemic Low Jobless Claims

CNBC host Rick Santelli I reacted with excitement to a slew of positive economic news released on Wednesday, including a pandemic low of 199,000 Unemployment Complaint Rates Lowest since 1969.

Although the inflation was The most important news in the economy for several months, Wednesday morning saw the release of several good news about the economy. CNBC announcer Becky Kwik Throw in Santelli for him interaction Such as Preparation Enter.

Santelli read the initial claims number first and said “Now that’s a nice Thanksgiving gift! We’ve cracked 200,000 for the first time after COVID.”

He had a bigger reaction to shrink of the trade deficit, saying “Wow! For October, this is really big news, we went from a record low of close to minus $100 billion, in the 1990s, to minus $82.9 billion.”

Santelli explained: “Now, admittedly, it’s not great news, but it’s very good news that it has gone below 90 and very close to $80 billion. According to EcoDay, the October deficit was about $12 billion less than what it was. It was expected.

In terms of wholesale inventories, it was up 2.2 percent. Anything with good inventories. “These are double expectations,” Santelli said.

Santelli reviewed a host of other economic news, many of which beat expectations, and concluded, “There’s a lot of data out there, Becky, but I think the best news is probably that we’re moderating in prices, narrowing the deficit, and moving into new territory based on initial claims.” “.

‘Back to you, Becky,’ said Santelli, ‘and I hope you and yours away are happy and in good health.’

President Joe Biden Take a victory tour around the news in a statment That unemployment numbers mean “more Americans are back in work and more Americans have money in their pockets, thanks to the US bailout and vaccination campaign.”

Watch above via CNBC.

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