Bloomberg Surveillance Bloomberg Surveillance TV: July 31st, 2025
Jul 31, 2025
Gargi Chaudhuri is the Chief Investment and Portfolio Strategist for the Americas at BlackRock, and Walter Piecyk is a Partner at Lightshed Partners. They dive into the implications of Fed Chair Jay Powell's recent conference and the expected rate cuts in 2025. Chaudhuri discusses the S&P outlook and equity strategies, while Piecyk previews Apple's earnings amidst concerns over innovation challenges and the impact of talent departures. The duo also explores the complexities of navigating stagflation and the dollar's depreciation on investment strategies.
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Fed Dissent is Responsible Decision
- Federal Reserve members often disagree on policy, especially in uncertain economic times.
- Expressing dissent is part of responsible committee decision-making to reflect differing data views.
Stagflation Signs in US Economy
- US economy shows weak growth with persistent inflation, a sign of stagflation.
- Strong labor market conflicts with GDP weakness, complicating economic outlook.
Tech and AI Lead Market Growth
- Large-cap tech and AI drive US market growth, overshadowing broad market gains.
- Diversification with international and fixed income assets complements the US tech-led portfolio.