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Wall Street Week
Bloomberg Wall Street Week - October 6, 2023
Oct 7, 2023
Guests David Bianco and Liz Ann Sonders debate the likelihood of another Fed rate hike. Ray Dalio explains why cash is no longer trash. Glenn Hubbard proposes solutions to the US deficit. Lawrence H. Summers highlights the risks of a hard landing in the labor market.
34:31
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Quick takeaways
- The strength of the labor market increases the risks of a hard landing.
- The rising deficit and lack of fiscal discipline pose significant risks to the economy.
Deep dives
Strong Jobs Numbers Highlight Resilient Economy
The latest jobs report revealed unexpectedly robust employment growth, with upward revisions for the previous months. Job creation continues to accelerate, demonstrating the enduring strength of the labor market. Wage inflation remains relatively controlled, providing positive news for the Federal Reserve. However, there are concerns about potential labor unrest and rising commodity prices, which could impact the economy going forward.
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