Bloomberg Surveillance Bloomberg Surveillance TV: July 21st, 2025
Jul 21, 2025
In a dynamic discussion, key experts analyze market confidence and the implications of potential changes in Fed leadership. Big Tech’s investments in AI and talent poaching are explored, revealing how these moves could reshape the industry. The interplay between labor market dynamics, inflation, and Fed independence sheds light on economic stability. Additionally, rapid AI adoption is set against the backdrop of competitive innovations, while tech firms are scrutinized for their capital expenditure strategies as risk and growth narratives evolve.
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S&P 7007 Target Stands Firm
- Chris Harvey believes the S&P 500 target of 7007 remains valid despite tariff concerns and political noise.
- He sees strong fundamentals, secular AI growth, and increased M&A activity as key market drivers.
Labor Market Shows Cracks, Not Collapse
- Claudia Sahm sees some labor market cracks but no dramatic collapse, expecting a slow economic grind.
- She warns inflation remains above target, so high rates carry costs as the Fed balances inflation control and growth.
Shadow Fed Chair Could Emerge
- Charles Myers expects President Trump will not fire Fed Chair Powell before September but may push for removal afterward.
- He highlights bond markets as a key check on executive power and predicts a 'shadow Fed chair' scenario post-September.