Bloomberg Surveillance Bloomberg Surveillance TV: July 15th, 2025
Jul 15, 2025
Scott Bessent, the US Treasury Secretary, shares insights on President Trump's economic priorities and the intricacies of upcoming tariff policies. He discusses the tension between inflation and trade, offering a glimpse into the White House's relationship with the Federal Reserve. Neil Dutta provides a sharp analysis of CPI data and its implications on consumer behavior, emphasizing the shifting dynamics in the market. The conversation sheds light on the challenges consumers face as tariffs impact household budgets amid fluctuating prices.
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Tariffs' Limited Inflation Impact
- Tariffs have not caused the substantial price level rise many expected early on. - Market participants have underestimated the resilience of inflation despite rising tariffs.
Tariffs Pressuring Goods Prices
- Tariffs are increasingly affecting core goods prices like appliances and apparel. - Service sector inflation remains subdued, balancing overall inflation pressure.
Tariffs Drive Inflation Forecasts
- Tariff inflation will gradually rise as tariffs impact retailers and inventories. - Clarifying and stabilizing tariff policies would ease inflation uncertainty and aid Fed decision-making.