Bloomberg Surveillance Bloomberg Surveillance TV: July 28th, 2025
Jul 28, 2025
Steve Ricchiuto, Chief Economist at Mizuho, shares his insights on the current economic landscape. He discusses the evolving dynamics of the labor market, including job candidate selection and the implications of technological changes. Ricchiuto examines the resilience of employment amidst shifting inflation forecasts and the potential impact of stablecoins on the economy. He also provides a critical look at the Federal Reserve's strategy in light of upcoming earnings reports, offering listeners a clear view of the intricate connections between economics and policy.
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EU-US Trade Deal's Strategic Impact
- The EU-US trade deal is a strategic success for the European Union, strengthening alliances against China.
- It balances trade benefits with geopolitical interests, supporting investment and military cooperation.
Labor Market Shows Strength
- The labor market remains healthy with no signs of cracks despite slowing job growth.
- Positive indicators like hires, quits, and job openings support ongoing strength and Fed reluctance to cut rates.
Stablecoins and Treasury Demand
- Stablecoins could increase demand for US Treasury bills by creating new financing channels.
- A unified stablecoin, possibly Fed-backed, might revolutionize payment efficiency and reduce transaction costs.