Bloomberg Daybreak: Asia Edition Daybreak Weekend: The Future of the Fed, UK Private Markets, Miran's Impact Overseas
Sep 19, 2025
Sweta Gopinath, a Bloomberg private equity reporter, dives into the evolving private markets landscape in the UK and Europe, shedding light on fundraising dynamics and regulatory shifts. Swati Pandey discusses Australia's AUKUS-related defense spending, exploring its diplomatic consequences as leaders prepare for meetings. Meanwhile, Shuli Ren critiques U.S. dollar dynamics, highlighting Stephen Myron's claims of its overvaluation and the shifting global investor landscape, including potential beneficiaries among emerging currencies.
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Fed Cut Was An Insurance Move
- The Fed cut 25bps as insurance because the economy and labor market are weaker than previously measured.
- Fed officials still expect multiple cuts this year despite inflation running above target around 3%.
Labor Revisions Reveal Stronger Slowdown
- Revisions show about 900,000 fewer jobs were created from March 2024–March 2025 than initially reported.
- That implies earlier rate hikes had a larger lagged impact on employment than policymakers realized.
Tariffs May Inflate Future Prices
- Tariff costs have mostly been absorbed by companies but are increasingly being passed to consumers.
- That could push inflation higher later this year and constrain how much the Fed can support the labor market with cuts.