Bloomberg Surveillance
PCE Data and a Meeting with Zelenskiy
Feb 28, 2025
Frances Donald, Chief Economist at RBC, shares insights on the challenges of inflation and consumer spending trends affecting U.S. economic growth. Jordan Rochester, Head of FICC Strategy at Mizuho EMEA, discusses the strength of the USD and the implications of global economic changes. Mick Mulroy, Co-founder of the Lobo Institute, offers a nuanced perspective on military strategies in Ukraine and the importance of U.S. support amidst geopolitical tensions. Their engaging conversation highlights the complex interplay of economics, politics, and security.
43:39
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Quick takeaways
- The significant decline in real personal spending, which fell by 0.5%, indicates potential challenges for U.S. economic growth projections.
- The K-shaped recovery highlights a widening wealth gap, creating vastly different economic experiences for affluent versus lower-income households.
Deep dives
Market Overview and Economic Indicators
The podcast highlights the latest trends in economic indicators, particularly focusing on the significant decline in real personal spending, which fell by 0.5%, surpassing the expected decrease of 0.1%. This downturn raises concerns about its impact on GDP estimates, as consumption constitutes a substantial 70% of the economy. Analysts note that this decline, alongside revisions in previous consumption data, signals a potential slowdown in economic growth, even as personal income figures show a relative increase. The emphasis is placed on the importance of monitoring these trends closely, as they could indicate more profound challenges in consumer behavior and overall economic health.
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