Bloomberg Intelligence BI Weekend: Disney, Alphabet Earnings, Energy Outlook
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Feb 7, 2025 Zach Wasserman, CFO of Huntington National Bank, shares insights on the bank's recent successes and growth strategies. He highlights impressive loan growth and initiatives to enhance consumer and small business engagement. The discussion delves into managing commercial real estate exposure cautiously. Other topics explored include the mixed job market dynamics, the implications of rising inflation expectations, and how AI can reshape workforce productivity and engagement for the future.
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Widespread Sentiment Drop
- Consumer sentiment weakened across demographics, driven by inflation worries.
- Republicans, Independents, and Democrats all showed decreased confidence.
Inflation Expectations Surge
- The one-year inflation expectation jumped significantly, exceeding estimates by 100 basis points.
- Consumers worry about tariffs' negative impact and expect them to cause inflation.
Drop in Current Conditions
- Current consumer conditions declined sharply due to plunging buying conditions for durables.
- Consumers believe it's too late to avoid price increases from tariffs.