Bloomberg Surveillance Bloomberg Surveillance TV: May 8, 2025
May 8, 2025
In this engaging discussion, Nouriel Roubini, Professor Emeritus at NYU, shares his insights on the recent Federal Reserve decisions and predicts a thriving U.S. economy ahead. He talks about how tech advancements could potentially double economic growth by the decade's end. Alongside Esther George, former Fed President, and Claudia Sahm, Chief Economist, they delve into the delicate balance of inflation management and labor market risks amidst an evolving economic landscape. The conversation highlights the complexities facing central bankers today.
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US Tech Drives Growth Potential
- The US economy's potential growth could double due to technological leadership.
- This innovation outweighs negative impacts like tariffs, boosting medium-term growth prospects.
Fed Will Wait on Rate Cuts
- The Fed will likely hold rates until clear recession signs appear.
- Anchored inflation expectations help the Fed delay cuts despite rising inflation and unemployment.
Today's Inflation Differs From 1970s
- Current inflation dynamics differ from the 1970s due to credible Fed anchoring.
- Second-round effects from tariffs and a weakening dollar remain risks that require data confirmation.