TikTok's Fight on Capitol Hill, Inflation Data Reinforces Fed Caution
Mar 13, 2024
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TikTok's fight to avoid US legislation, CPI report's impact on Fed's inflation battle, Boeing's manufacturing challenges, Irish economy's growth and investment trends discussed by various experts on the podcast.
TikTok faces potential US legislation threat on Capitol Hill, prompting concerns about forced sale or ban.
US inflation data from the CPI report impacts economy and Fed's inflation strategy, reinforcing caution.
Boeing encounters further challenges as analysts discuss the aerospace industry's landscape and implications for the company.
Deep dives
Strong Fundamentals and Diversified Economy in Ireland
The Irish economy is supported by strong fundamentals and a diversified economy, with a focus on innovation and foreign direct investment. Despite challenges like rising inflation, Ireland maintains a positive surplus and attracts talent from various nations to help drive growth.
Employment Situation and Talent Attraction in Ireland
Ireland is nearly at full employment, but companies in the country attract talent from both Europe and outside the EU. Ireland's critical skills program fast-tracks talent in areas like technology, ensuring a diverse and skilled workforce to support economic growth.
Resilience in Foreign Direct Investment in Ireland
Despite global industrial policy changes, Ireland continues to attract new foreign direct investment, with 2024 setting records for new investments. Companies, especially from the US, view Ireland as a stable location for growth, innovation, and market access.
Potential Impact of US Election on Ireland
As the US approaches its next election year, the outcome is closely monitored by organizations like IDA Ireland. The strong economic relationship between Ireland and the US over the years underscores the importance of a stable US economy for Ireland.
Diverse Investment Portfolio and Regional Trends
Majority of Ireland's client companies are from the US, with new investments continuing to flow into sectors like life sciences, international financial services, and technology. Despite a recent technology sector slowdown, Europe remains a strong region for new investment in Ireland.
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Bloomberg Tech reporter Alex Barinka joins to discuss TikTok's fight on Capitol Hill as it hopes to avoid sweeping US legislation that would force the app's parent company to sell it or face a ban. Bloomberg News markets reporter Abigail Doolittle, Bloomberg Intelligence Chief Rates Strategist Ira Jersey and Bloomberg News International Economics and Policy Correspondent Michael McKee take part in a roundtable to break down today's CPI report and what it means for the US economy and the Fed's inflation battle. Bloomberg Intelligence Senior Aerospace Analyst George Ferguson and Sheila Kahyaoglu, Aerospace, Defense and Airlines analyst at Jeffries discuss Boeing's latest woes. And, Michael Lohan, chief executive officer at IDA Ireland joins to talk about the prospect for US corporate growth and foreign direct investment.
Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan, with assistance from Justin Milliner.