The chapter delves into the Fed chair's response to questions regarding sentiment's role in the economy, drawing from David Wilcox's insightful comparison of consumer confidence from past high inflation periods to the present day's more pessimistic outlook despite lower inflation rates. It examines the influence of the media landscape and social media on shaping individuals' perceptions of the economy and how this affects overall sentiment.
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Bloomberg News International Economics & Policy Correspondent Michael McKee talks about his interview with Cleveland Fed President Loretta Mester who called the latest data showing softer inflation “welcome news,” and said she would like to see a few more months of good data before considering lower interest rates. Bloomberg News Senior Management and Workplace Reporter Matthew Boyle explains what Swedish retailer Ikea is doing to retain workers. Bloomberg News Equities Reporter Bailey Lipschultz discusses how restaurant chain Cava is worth $33 million per restaurant after a blistering debut. Bloomberg News Music and Audio Reporter Ashley Carman provides the details of Spotify's plan to unveil a new premium music service. And we Drive to the Close with Aaron Kennon, CEO at Clear Harbor Asset Management.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
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