Fed Hiking Cycle Looks Done After US Jobs Report Shows Cooling
Nov 3, 2023
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Guests discuss the impact of the jobs report on Fed policy, labor market trends, the SBF guilty verdict's impact on the crypto market, improving recycling practices, water scarcity and its link to climate change, connector economies challenging the U.S.-China dichotomy, and Foxconn's potential move into electric vehicles and collaboration with Apple.
Landfills contribute to climate change due to methane emissions, highlighting the importance of reducing landfill waste.
Connector economies act as crucial links in global supply chains, benefiting from increased trade and shaping global trade flows.
Deep dives
Geopolitical risk emerges as a top concern for CEOs
CEOs across the globe are increasingly concerned about geopolitical risks, viewing it as the biggest risk they face. The unpredictability and impact of geopolitical events make it difficult to model and plan for, creating uncertainty for businesses. This concern is reflected in recent earnings calls and transcripts, where CEOs have expressed worry about global tensions and the potential disruptions they may cause. Geopolitical risk is set to be a major topic of discussion at the upcoming Bloomberg New Economy Forum in Singapore.
The challenges and potential of recycling plastics
Recycling plastics poses significant challenges due to the wide variety of plastic types and the lack of consistent recycling infrastructure. Different plastics require different processes and technologies to be effectively recycled, and not all plastics are currently recyclable. Improving recycling rates for plastics will require a multifaceted approach, including better consumer education, investment in recycling infrastructure, and developments in recycling technologies. However, progress is being made, and organizations like The Recycling Partnership are working to divert recyclables from landfills and reduce greenhouse gas emissions.
The impact of landfills on the environment
Landfills have a significant impact on the environment, particularly due to the emissions of methane, a potent greenhouse gas. Landfills are designed to prevent the breakdown of waste, creating anaerobic conditions that result in the production of methane. The continuous decomposition of waste in landfills contributes to the emission of greenhouse gases and climate change. Therefore, reducing landfill waste and promoting recycling and composting efforts are critical for mitigating the environmental impact of landfills.
The role of connector economies in global supply chains
Connector economies are countries that have found ways to leverage their position between major trading partners, acting as intermediaries in global supply chains. These countries have managed to straddle geopolitical fractures and establish themselves as crucial links in international trade. Examples include Mexico, which has become a key exporter to the US but also imports from China rapidly, and Poland, Vietnam, Indonesia, and Morocco, which have positioned themselves as connectors for trade flows between major economies. These connector economies benefit from increased trade and can play a significant role in shaping global supply chains.
Foxconn's potential move into electric vehicles
Foxconn, the major electronics manufacturer known for producing Apple's iPhones, is considering a move into electric vehicle manufacturing. With smartphone market saturation, Foxconn is exploring new opportunities, including acquiring Lordstown Motors factory in Ohio to potentially become a white-label manufacturer for electric vehicles. The company aims to leverage its manufacturing expertise to support the growing demand for EVs and expand its presence in this evolving industry.
Risk and uncertainty on the agenda of the New Economy Forum in Singapore
The upcoming Bloomberg New Economy Forum in Singapore will address pressing issues in the global economy, including geopolitical risks and environmental challenges. The forum will convene world leaders, business executives, policymakers, and experts for candid discussions on topics such as the impact of geopolitical risks on businesses, the role of connector economies in global supply chains, the challenges and opportunities in recycling, and the need for sustainable solutions in the face of climate change.
Business leaders emphasize the need for consistent recycling policies and infrastructure
Business leaders are calling for consistent recycling policies and improved recycling infrastructure to drive higher recycling rates. Efforts must focus on educating consumers, enhancing recycling technologies, and investing in infrastructure that can handle a wide variety of recyclable materials. Consistency in recycling policies and practices across different regions will help create a more circular economy and reduce waste going into landfills. Recycling partnerships and collaborations between businesses, governments, and non-profit organizations are crucial to achieving these goals.
Yelena Shulyatyeva, Senior US Economist at BNP Paribas and Bloomberg News Economics Reporter Steve Matthews discuss the impact of the October jobs report on Fed policy. Julia Pollak, Chief Economist at ZipRecruiter, also talks about the jobs report and labor market trends she is seeing from their New Hires Survey. Bloomberg News Legal Reporter Ava Benny-Morrison and Steven McClurg, CIO of Valkyrie Investments, share their thoughts on how the SBF guilty verdict could impact the crypto market. Keefe Harrison, CEO of The Recycling Partnership, discusses America Recycles Day and efforts to improve recycling in the US. Bloomberg Businessweek Editor Joel Weber and Businessweek Global Economics Editor Cristina Lindblad discuss stories from the New Economy Issue of Businessweek Magazine. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.
