Bloomberg Surveillance Single Best Idea with Tom Keene: Lindsey Piegza & Katy Kaminski
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Oct 10, 2025 Lindsey Piegza delves into the intricacies of Fed policy and persistent inflation, suggesting rate cuts might be off the table this year. She highlights unique movements in currency and the weakening dollar. Meanwhile, Tom Keene breaks down the concept of convexity in markets, linking it to quantitative finance and recent trends. The conversation weaves through current financial dynamics, making for an engaging analysis of the economic landscape.
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Fed Likely To Hold Policy Tight
- Lindsey Piegza argues the Fed has not implemented policies sufficient to return inflation to 2 percent.
- She expects limited policy easing through year-end given persistent growth and elevated price pressures.
Labor Market Is Resilient
- Lindsey Piegza notes mixed labor-market signals: headline job creation cooled but other metrics remain resilient.
- She sees the labor market as less dire than some Fed officials assume.
Dollar Weakness Is Losing Momentum
- Lindsey Piegza observes idiosyncratic currency movements with some currencies gaining versus the dollar.
- She thinks the weaker-dollar trend is losing momentum due to heavy hedging and rate-cut expectations.