Cisco Systems acquires Splunk for $28 billion, marking its largest acquisition and foray into software and AI-powered data analysis. ConnectOne Bank CEO discusses the implications of Fed policy for banks and small businesses. Professor of Epidemiology at Johns Hopkins shares insights on Pfizer and Moderna booster vaccines. Mastercard Community Pass founder talks about transforming social service delivery in remote communities in Africa and South Asia. Bloomberg Businessweek explores the Fed's challenges and drive to the close with Hilary Kramer, CIO at Kramer Capital Research.
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Quick takeaways
The ongoing auto strike in Michigan poses a significant threat to the Fed's soft landing.
The possibility of a government shutdown and the restart of student loan payments present additional challenges to the Fed's soft landing goal.
When deciding between giving children the flu vaccine or the COVID vaccine, it is recommended to get both vaccines, and experts suggest that they can be given simultaneously.
Deep dives
Challenges to the Fed's Soft Landing
The Fed's goal of achieving a soft landing for the economy is facing a triple threat. The ongoing auto strike in Michigan has the potential to disrupt the economy and supply chains. The possibility of a government shutdown adds further uncertainty. Additionally, the restart of student loan payments could put a strain on consumer spending. Economists are considering the potential impact of these factors and gaming out different scenarios. While the odds still favor a soft landing, these challenges could complicate the Fed's efforts and increase the risk of a harder landing.
Auto Strike as a Major Threat
The ongoing auto strike in Michigan poses a significant threat to the Fed's soft landing. If the strike escalates and affects a broader segment of the workforce, it could lead to job losses and disrupt the supply chain. This could result in negative growth for the economy, impacting both employment rates and consumer prices. The extended strike would have serious repercussions and complicate the Fed's efforts to achieve a soft landing.
Potential Impact of Other Factors
In addition to the auto strike, the possibility of a government shutdown and the restart of student loan payments present additional challenges to the Fed's soft landing goal. A government shutdown could have short-term effects on economic data and consumer sentiment. The restart of student loan payments will reduce disposable income for borrowers, potentially impacting consumer spending. These factors add further uncertainty and may impact the Fed's ability to achieve a smooth transition and maintain economic stability.
Choosing between flu vaccine and COVID vaccine for kids
When deciding between giving children the flu vaccine or the COVID vaccine, the risk of adverse events and the impact of the disease need to be considered. While flu can cause complications, children can also experience long COVID and multi-inflammatory syndrome with COVID-19. It is recommended to get both vaccines, and experts suggest that they can be given simultaneously.
MasterCard's Community Pass and digital inclusion
MasterCard's Community Pass aims to provide digital infrastructure to offline communities, enabling them to access basic services such as credit and digital transactions. The platform focuses on communities without access to foundational digital identity, particularly smallholder farmers. By connecting them to banking services and providing credit opportunities, the platform aims to improve their economic outlook and increase productivity.
Bloomberg Intelligence Senior Technology Analyst Woo Jin Ho reports on Cisco Systems agreeing to buy Splunk in a deal valued at about $28 billion, representing its biggest acquisition yet and a massive push into software and artificial intelligence-powered data analysis. Frank Sorrentino, CEO at ConnectOne Bank, discusses what Fed policy means for banks and small businesses. Dr. William Moss, Professor of Epidemiology at Johns Hopkins Bloomberg School of Public Health, shares his thoughts on the recent roll out of Pfizer and Moderna booster vaccines. Tara Nathan, Founder and Leader of Mastercard Community Pass, talks about transforming the delivery of social services in remote communities in Africa and South Asia. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Global Economy Reporter Enda Curran share the details of Enda's Businessweek Magazine story The Fed’s Dream of a Soft Landing Is Facing a Triple Threat. And we Drive to the Close with Hilary Kramer, CIO at Kramer Capital Research. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.