Business
Turning Point? | Bloomberg Surveillance 01/30/2023
Tom Keene, Jonathan Ferro and Lisa Abramowicz have the economy and the markets “under surveillance” as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. This show is simulcast worldwide on Bloomberg Television and Radio.
A huge week ahead for tech earnings and a Fed decision.
#fed #bloomberg #earnings
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Federal Reserve Chairman Kevin Warsh warned inflation isn’t meaningfully slowing, but vowed policymakers will return inflation to their 2% goal. Bloomberg News’ Economics & Policy Correspondent Mike McKee is in Jackson Hole where Warsh gave his first speech since becoming chairman of the Central Bank. Brooke May, Managing Partner at Evans May Wealth, also reacts to Warsh’s inflation vow with some skepticism. Then, Linamar Executive Chair Linda Hasenfratz discusses President Trump’s tariff threats on the Canadian cars and auto parts, saying if a 50% tariff is imposed by next year it would bring the industry “to its knees.” Finally, Affirm Founder & CEO Max Levchin explains how his company sets rates and keeps up with a growing industry, arguing Affirm’s transparency makes it stand out from competitors.
Chapters
00:00:00 Opening: Jackson Hole Fed Friday
00:02:13 Market Update: Stocks Fall, Yields Rise
00:04:19 Kevin Warsh’s Inflation Warning
00:05:44 What Warsh’s Speech Means for the Fed
00:07:15 Could the Fed Hike Rates in September?
00:08:03 Jackson Hole, Lisa Cook & Jay Powell
00:11:20 Investor Reaction to Warsh’s Speech
00:12:45 Can the Fed Really Get Inflation Back to 2%?
00:16:15 Midterms, Markets & $7 Trillion on the Sidelines
00:20:58 Canada Retaliates With New U.S. Tariffs
00:21:42 Linamar on the U.S.-Canada Auto Trade War
00:23:16 How Auto Tariffs Could Hit Consumers
00:24:24 Trump’s 50% Auto Tariff Threat
00:26:03 Could Tariffs Shut Down North American Auto Production?
00:27:24 Can the U.S. and Canada Reach a Deal?
00:32:35 Market Update: Stocks Slide, Yields Jump
00:34:19 Affirm CEO on the Health of the U.S. Consumer
00:36:01 What Consumers Are Financing With Affirm
00:37:50 Affirm vs. Credit Cards & Klarna
00:39:27 Affirm’s Bank Charter & In-Store Expansion
00:43:20 Stock Movers: PayPal, Affirm & BioNTech
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Highlights from Bloomberg TV as contributors shed light on how rising energy prices are driving bond yields higher across markets and traders reposition in anticipation of further challenges. Meanwhile, the yield on 30-year US government bonds have climbed back to levels seen just before Treasury Secretary Scott Bessent expanded a buyback program to contain long-term borrowing costs.
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Volkswagen’s supervisory board backed a restructuring that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint. The new staff cuts represent about 8% of VW’s global workforce as of the end of last year. Bloomberg’s Danny Lee reports.
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As Big Tech surges toward trillions of dollars of planned AI spend, a key cog in credit markets is showing signs of pressure. Bloomberg’s Tom Mackenzie explains.
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David Bianco of DWS says long-term Treasury yields and real rates have climbed to some of their highest levels in nearly 25 years, but he argues inflation is not the main driver. The bigger issues are structural: US deficits above 6% of GDP, a rising total debt-to-GDP ratio, and the need to fund more borrowing domestically as foreign demand becomes less reliable. The US still benefits from the dollar’s safe-haven status, but Robin Brooks of the Brookings Institution and former Dutch Finance Minister Sigrid Kaag warn that America’s fiscal path remains dangerous even if its “exorbitant privilege” gives policymakers more time before markets force discipline.
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@Cryptonomics7
January 4, 2024 at 4:41 pm
I wonder many times how many of these ppl are TRUELY researchers and analysts VS talking heads that are paid to say things that have no support or value, only to set in fear in the minds of society.
@therealemperorpalpatine
January 4, 2024 at 4:41 pm
thx for the chest lisa 😀
@therealemperorpalpatine
January 4, 2024 at 4:41 pm
DONT fight the fed has turnedinto fight the fed with everything you got!" GOD i love this WOMAN!!!!!!!
@jackbailey7037
January 4, 2024 at 4:41 pm
The Greedheads can't wait to invest in the China of Xi Jimping, next to North Korea the worst dictatorship on earth.
@dompalozzi4384
January 4, 2024 at 4:41 pm
Full of crap Bloomberg propaganda ministry of the highest order!
@tomchow82
January 4, 2024 at 4:41 pm
SF did not have a QB
@edmsing
January 4, 2024 at 4:41 pm
Today, as the world’s only observational blogger I heard a news descriptive add-on for the word rare, she was as rare as a gray-haired woman on Bloomberg Technology. If blond hair dye could kill in media, Bloomberg Media is the place to watch it in full bloom.
@luap2551
January 4, 2024 at 4:41 pm
These so called expert think there is going to be a soft landing ? – I would not be investing with those people ! Powell is trying to Break Europe for what is really going in behind scenes – Rates will continue to rise until something seriously breaks, Hopefully in Europe !!
@user-kqpayxt
January 4, 2024 at 4:41 pm
The Job Market is quite strong….The FOMC has to stomp on the pedal to the metal to see a meaningful slowdown….. The pending homes sales number tells it all…..
@makaylamyhero
January 4, 2024 at 4:41 pm
There are promoter networks that score the accreditation to allow consumers to shop in the market for a fast beat of what strengthens their choices in our World US economy.
@041101213
January 4, 2024 at 4:41 pm
Y'all lost in the meaningless detail. This isn't supply side inflation – its monetary inflation. The kind you get at the end of a fiat currency's life. Always cut short from delusional management.
Increasing political unrest as people become unable to pay their bills, buy food. Hungry homeless people don't care much about the rule of law.
I suspect the mob would start with wall Street. I'm in another dead end western democracy, we will sink with you. We don't have automatic weapons everywhere tho. Y'all shooting up schools like it's trendy and not completely psychotic. Smh.
@johnnyrotton9005
January 4, 2024 at 4:41 pm
Everyone expecting a recession…. I reckon we already had a recession and we are coming out of it in the coming months. The unprecedented printing of Fiat currency is why prices are so high, stocks etc
@fitforlife5142
January 4, 2024 at 4:41 pm
My favour finance channel ❤
@purpledragonartwork85
January 4, 2024 at 4:41 pm
KAILEY 🎉❤🎉❤🎉❤🎉❤
@purpledragonartwork85
January 4, 2024 at 4:41 pm
PIMCO AND GLOBAL X 🎉❤🎉❤🎉❤
@purpledragonartwork85
January 4, 2024 at 4:41 pm
ANNMARIE ❤🎉❤🎉❤🎉❤
@terryllee7706
January 4, 2024 at 4:41 pm
Can not continue this path of spending, what happened to the lock box executive order ?
@diniscriptowl7236
January 4, 2024 at 4:41 pm
Let's go back to hibernation and wake up in summer when market will have stop anticipating pivot every FOMC.
@bardiamousapour
January 4, 2024 at 4:41 pm
The blond reporter talks way beyond her job.very rude.