Surveillance: Inflation Fighters with Peters
Bloomberg Surveillance
00:00
The Fed's Data Dependence on Employment and Inflation
I think the underlying trend of nominal growth is around five to six percent, which makes these sort of calls that basically overlay corporate earnings on the ISM sort of pointless. At the same time, keep in mind that the dollar is off about 6 and a half percent over the last six months or so. And importantly, in my world, it's a tailwind for real export activity over the next year. So a lot of what's traded in the markets are large multinationals that do a lot of business overseas. If the global economy is looking a bit better than it did last year, then that's going to lead into corporate earnings, which should support US equity press.
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