Bloomberg Surveillance
PCE Preview and Streaming Wars
Apr 23, 2024
Economists discuss inflation data and the Fed's focus, insights on FX weakness and US economic outlook, and a deep dive into streaming wars, Meta earnings, and tech regulation.
28:48
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Quick takeaways
- Central banks' struggle to interpret data for effective policy formulation amidst changing economic conditions and challenges with frameworks like neo-Kanzeian theories.
- Correlation between wars and inflation spikes, citing historical instances and linking current geopolitical tensions to inflation through supply-side disruptions.
Deep dives
Challenges of Central Banking Frameworks
Central banks are grappling with the effectiveness of their frameworks amidst changing economic conditions. With a focus on the Fed, the discussion delves into the challenges of interpreting data and formulating policies. The evolving nature of monetary theories, such as neo-Kanzeian frameworks, and the relevance of metrics like the Phillips curve come under scrutiny. Pragmatism in decision-making is acknowledged, but the absence of a strong interpretative framework for economic data is highlighted.
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