The discussion delves into the implications of a strong economic report released by the Bureau of Economic Analysis, highlighting the rise in underlying inflation and its impact on consumer and business spending. The conversation explores how these data points might influence the Federal Reserve's decisions on interest rates, with a focus on potential rate cuts to stimulate the economy. Additionally, there is analysis on market reactions, bond movements, GDP growth, labor market concerns, and the impact of better-than-expected earnings reports on tech stocks and other sectors.
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Bloomberg News International Economics & Policy Correspondent Mike McKee and Bloomberg News Rates Reporter Michael Mackenzie discuss US economic growth accelerating by more than forecast in the second quarter, illustrating demand is holding up under the weight of higher borrowing costs. Bloomberg Intelligence Equity Strategist Michael Capser explains why US earnings season outlook is sliding. Doug Ciocca, CEO at Kavar Capital, breaks down market volatility and where he is seeing opportunities. Katie Thomas, Lead at the Kearney Consumer Institute, talks about US and global consumer stress levels. And we Drive to the Close with Kathy Entwistle, Managing Director at Morgan Stanley Private Wealth Management.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
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