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Bloomberg Surveillance
Surveillance: Fed Cuts with Luzzetti
Sep 28, 2023
Matthew Luzzetti predicts Fed rate cuts next year, Dan Ives says bears got it wrong on Apple. Amanda Lynam expects a higher-for-longer environment. Rep. Bryan Steil points out the broken DC system they are working on. Also discussed: consumer weakening, labor market, return of bonds, iPhone demand, time management with Watson X, workers' fight for higher wages, ideological shift in the GOP.
29:04
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Quick takeaways
- Consumer spending is slowing down, posing concerns for the economy.
- The labor market is experiencing a decrease in demand, but no significant layoffs or decline in job opportunities yet.
Deep dives
Consumer Spending Slows Amid Headwinds
Recent data shows a slowdown in consumer spending, which is concerning given the headwinds facing the consumer. This is particularly evident in the high-frequency data, with credit card spending slowing down significantly in September. It is unclear whether this is just a temporary setback from the strong summer months or the start of a new trend of consumer weakening.
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