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White House National Economic Council Director Hassett, in an interview with CNBC, stated that one should expect a decline in job numbers in the labor market, but this should not cause panic. Hassett believes that despite slow population growth, employment data with low "soaring" productivity growth will still be consistent with high GDP growth. Hassett's comments on labor data led to an increase in U.S. bond prices, with commodity trading advisors and short-term trading accounts following suit. Additionally, Hassett also stated that GDP growth is "very strong," with projections of reaching a growth rate of 4.0% by the end of the year, and an overall growth rate of 3.0% for the whole year, attributing last year's first-quarter negative growth to the Biden administration.