Bloomberg Surveillance cover image

Bloomberg Surveillance

Surveillance: Sluggish Economy with Calvasina

Sep 6, 2023
Lori Calvasina predicts a sluggish economy while Nela Richardson discusses the complexity of the Fed's job. Kevin Book believes there is room for oil to run, and Alan Ruskin anticipates a weaker dollar with a Fed cut. David Lebovitz expects airlines to raise prices. Topics include the impact of rising jet fuel prices, the state of the labor market, the stability of the dollar, and the uncertainty of economic forecasts.
31:31

Podcast summary created with Snipd AI

Quick takeaways

  • The US is facing a sluggish economy due to higher energy prices and potential softening in growth, posing a challenge for the Fed in balancing inflation and recession.
  • Higher oil prices present challenges for the airline industry, potentially impacting consumer spending and inflation, with airlines relying on pricing power to protect margins and contribute to overall inflationary pressures.

Deep dives

Crude oil prices and the tension between growth and inflation

The rise in crude oil prices to around $90 presents a tension between the growth and inflation narratives for the Federal Reserve. Higher energy prices and the resumption of student loan payments could test the resilience of consumers, leading to a potential softening in growth. This poses a challenge for the Fed as they try to combat inflation while avoiding a recession.

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode