Business
Signs of Stabilization? | Bloomberg Surveillance 03/21/2023
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.
The Fed begins a two day meeting as the banking sector looks to stabilize.
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Bond traders have begun to treat Mexican debt like junk after the government has spent $130 billion to bail out state-owned oil giant Petroleos Mexicanos. Bloomberg’s Scott Squires explains.
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John Morgan has grown his legal practice Morgan & Morgan into a multi-billion dollar empire spanning all 50 states. His book “Life Is Luck: Lessons From a Paperboy and How to Improve Your Luck”, details the lessons he’s learned in his very full life. Morgan sat down with Bloomberg’s Romaine Bostick to discuss his company’s growth, private equity, and his book “Life Is Luck: Lessons From a Paperboy and How to Improve Your Luck”.
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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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@weefyman7330
January 22, 2024 at 6:44 pm
Its all woo woo!
@mjrtla
January 22, 2024 at 6:44 pm
It’s disgusting to realize that he American economy is not a free market. It is centrally controlled and centrally planned by a clearly politicized fed. Are there any federal institutions that are transparent and trustworthy? Any at all? Or are they all led by incompetent control freaks? I don’t know which is worse, knowing or not knowing. Sometimes I wish I didn’t pay attention.
@garymiller4141
January 22, 2024 at 6:44 pm
I would like to know how the Fed can make whole all deposits over the 250,000 limit in these failed banks without setting a president to cover all deposits in other banking institutions. In my opinion, they already set the stage by there action of making depositor whole without congress approval.
@romemvp
January 22, 2024 at 6:44 pm
How are you still buy your XRP
@fasteddy6170
January 22, 2024 at 6:44 pm
The Wicked Grind THEIR Teeth as Holy SILVER is about to become UNOBTAINUM
@raymondkey1952
January 22, 2024 at 6:44 pm
And bs again from you all. Ruining peoples lives who trust these institutions. Dominoes are falling and you all act like everything is fine lmao
@amorosogombe9650
January 22, 2024 at 6:44 pm
I think it's a mistake for the fed to step outside of its price and banking sector stability mandate. Employment should be made a purely fiscal responsibility. The fed should be left to engage in mandate purity without any wailing from either wall or main street.
@peterbarrett5496
January 22, 2024 at 6:44 pm
He's like a monkey. Give him his banana
@annacunningham3333
January 22, 2024 at 6:44 pm
omg
@kensmechanicalaffair
January 22, 2024 at 6:44 pm
Jerome is part of the problem.
@The_North_Star_of_Wall_Street
January 22, 2024 at 6:44 pm
Thx Lisa u r right it’s about the signaling not the rate
@abhijitpal7750
January 22, 2024 at 6:44 pm
U.S. all banking sector immediate Micro finance running.
Round the world.
@abhijitpal7750
January 22, 2024 at 6:44 pm
22/03/2023.
1999 to 2005. Japanese economic history.
1869 to 1888. Credit Suisse's Banking
Economic History.
2001 to 2005. Silicon Valley Banking
Economic History.
Round the world.
@abhijitpal7750
January 22, 2024 at 6:44 pm
25/03/2023.
Euro prices high. 1.1145.
Round the world.
@abhijitpal7750
January 22, 2024 at 6:44 pm
Please wait sir. 30/03/2023.
Round the world.
@kamalyusof8078
January 22, 2024 at 6:44 pm
TQ…
@kamalyusof8078
January 22, 2024 at 6:44 pm
TQ…
@user-kqpayxt
January 22, 2024 at 6:44 pm
FOMC Staff take Note: Home Flipping is Alive & Well today. In California in certain prime areas, Existing homes are selling 35% higher than what they were 2 quarters ago !!
@househunter1586
January 22, 2024 at 6:44 pm
Nope jus the calm before the storm.
@jimhudson2108
January 22, 2024 at 6:44 pm
Ferro, Lisa, superb presenters
@edmundlively8137
January 22, 2024 at 6:44 pm
A soft landing will not do it. only a hard landing will crush the Russian oil market ,send the Russians back home where they belong get them out of Ukraine
@yuglesstube
January 22, 2024 at 6:44 pm
Ken is way too optimistic. It's just like the GFC . Reckless lending! And he failed to mention that trump rolled back the regs he recommends in 2017!
@havenpeck4114
January 22, 2024 at 6:44 pm
She's under paid