Miles McCormick

James Politi, Washington bureau chief for the Financial Times, and Miles McCormick, US economics correspondent, dive into the high-stakes meeting between Trump and Xi. Politi discusses the significance of the emerging U.S.-China framework, highlighting key trade elements. McCormick sheds light on rising inflation and how the softening labor market is influencing Federal Reserve policies. The conversation also touches on the potential challenges in sustaining a U.S.-China truce and the complexities facing the Fed amid economic uncertainty.

Tommy Stubbington, Markets news editor at the Financial Times, discusses the UK gilt market's reaction to recent fiscal policy changes and investor concerns. He emphasizes the importance of avoiding surprises to stabilize the market. Meanwhile, Miles McCormick, U.S. economics correspondent, highlights the government shutdown's impact on critical economic data collection and how it complicates Fed decisions. They also touch on Spain's improving fiscal position, projecting its deficit may soon be smaller than Germany's for the first time in decades.