Stephanie Roth, Chief Economist at Wolfe Research, and Lauren Goodwin, Chief Market Strategist at New York Life, delve into the implications of recent PCE data and the upcoming tariffs set by President Trump. They highlight the potential inflation risks and their impact on consumer spending and investment trends. Mike Haridopolos, a Republican US House Representative, discusses political dynamics surrounding these tariffs and their effects on economic policies. The conversation reveals tough challenges businesses face amidst shifting market conditions.
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insights INSIGHT
Market Uncertainty
The new administration's trade policies, focusing on tariffs, have created market uncertainty.
Immigration policy changes further contribute to this uncertainty, causing the S&P to pull back.
insights INSIGHT
February Economic Data
Personal income for February jumped to 0.8%, while spending slowed to 0.4%.
The PCE index, which the Fed monitors, came in at 2.5% year-on-year and 0.4% month-on-month.
insights INSIGHT
Awkward In-Between
Lauren Goodwin notes that current economic data doesn't predict future market trends.
Policy uncertainty affects business and consumer behavior, making asset allocation challenging.
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Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyMarch 28th, 2025 Featuring: 1) Tiffany Wilding, Economist at PIMCO, Stephanie Roth, Chief Economist at Wolfe Research, and Lauren Goodwin, Chief Market Strategist at New York Life Investments, react to PCE and offer their US market and economic outlook. Today's data comes as Fed officials, such as the president of the Federal Reserve Bank of Boston Susan Collins, have recently warned about inflation reigniting due to President Trump's unclear tariff policy. 2) Sevasti Balafas, CEO at GoalVest Advisory, brings us into the market open and talks asset allocation and offers her stock picks. It comes amid a global selloff in equities as investors have been selling equities in the run up to April 2, ahead of President Donald Trump’s tariff deadline. 3) Mike Haridopolos, Republican US House Representative from Florida, talks about a slew of DC headlines, including tariffs, and his focus on the Consumer Financial Protection bureau and its future. Some of the top Washington stories include Defense Secretary Pete Hegseth urging China deterrence on a trip clouded by Signal uproar and US seeking to control Ukraine investment and squeezing out Europe. 4) Selma Hepp, Chief Economist at Cotality, discusses the outlook for mortgage rates in 2025 and 2026 and why they may remain sticky amid so much economic uncertainty. Freddie Mac said in a statement this week that the average for 30-year loans was 6.65%, down from 6.67% last week. It was the first time in three weeks that mortgage rates fell, as house hunters are finding more choices on the market in time for the country’s key spring selling season. 5) Lisa Mateo joins with the latest headlines in newspapers across the US, including the Wall Street Journal article on the significance of women wearing ties and a piece from the New York post on President Trump's childhood home selling at a steep discount.
Bloomberg Surveillance 