Podcast appearances and mentions of lindsey piegza

Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio. In this episode, we feature conversations with Lindsey Piegza & Todd Jablonski. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACFSee omnystudio.com/listener for privacy information.

Featuring: Wei Yao, Head of Research & Chief Economist, APAC at Société Générale CIB, sits down with us in Hong Kong to discuss China eco outlook. Stefanie Holtze-Jen, APAC CIO at Deutsche Bank Private Bank, joins the program to discuss APAC markets. Lindsey Piegza, Chief Economist at Stifel, sits down with us to discuss US CPI data.  Apple: https://podcasts.apple.com/us/podcast/bloomberg-daybreak-asia/id1663863437Spotify: https://open.spotify.com/show/0Ccfge70zthAgVfm0NVw1bTuneIn: https://tunein.com/podcasts/Asian-Talk/Bloomberg-Daybreak-Asia-Edition-p247557/?lang=es-esSee omnystudio.com/listener for privacy information.

The monthly jobs report is out this morning, with economists expecting hiring to have slowed in February. Stifel's Lindsey Piegza lays out her forecast. Plus, new data from Mastercard shows consumer spending is still strong. Mastercard's Steve Sadove details the report. And, President Biden has vowed to raise taxes on the wealthy and large companies. Strategas Securities' Courtney Gelman gives the key takeaways from last night's State of the Union.

In this episode our President and CEO, Mike Affuso, sits down with Dr. Lindsey Piegza, Chief Economist with Stifel Financial to discuss the 2024 economic outlook, our current national debt, consumer confidence, the upcoming election cycle's potential impact on the economy, and more.

Dana Peterson, The Conference Board Chief Economist, expects consumers to pull back on spending as core prices ticked up in November. Alicia Levine, BNY Mellon Wealth Management Head of Investment Strategy and Equity Advisory Solutions, predicts the Fed won't cut rates until the second half of 2024. Lindsey Piegza, Stifel Chief Economist, says her concern is that the Fed doesn't tighten enough, and allows inflation to become further entrenched. Christyan Malek, JP Morgan Global Head of Energy Strategy and Head of EMEA Oil & Gas Equity Research, says it's only a matter of time until the global oil markets tighten.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Jeremy Stretch, CIBC Head of G10 FX Strategy, breaks down the European Central Bank's decision to leave interest rates unchanged. Lindsey Piegza, Stifel Chief Economist, discusses the US economy's fast-paced growth in the last quarter. Ed Mills, Raymond James Washington Policy Analyst, says the US won't face a government shutdown in November after Congress elected a House Speaker. Mandeep Singh, Bloomberg Intelligence Sr. Technology Analyst, says AI will be a key focus for Big Tech going forward. Michael Nathanson, MoffettNathanson Sr. Research Analyst, says 2024 will be a year of consolidation in the streaming market.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance      Full Transcript:     This is the Bloomberg Surveillance Podcast. I'm Tom Keene, along with Jonathan Farrow and Lisa Abramowitz. Join us each day for insight from the best and economics, geopolitics, finance and investment. Subscribe to Bloomberg Surveillance on demand on Apple, Spotify and anywhere you get your podcasts, and always on Bloomberg dot Com, the Bloomberg Terminal, and the Bloomberg Business App. Jeremy Stretch of CIBC as he considers these headlines, not much movement in the market. I've got ero one oh five forty, Jeremy. A key question to me is simple, and that is the idea of what two percent means. These are different economies, different nations. Do you look at it as two point zero percent? Is the ECB Bundesbank hope two point two percent while the FEDS two percent is two point eight percent? Well, of course, the Eurozone is a difficult beast to manage, and I think President Leguard is very mindful of that because, as we've touched upon, there is a very different degree of performance and activity in a number of the different economies across the zone. Now, the Eurozone and ECB is aiming to get back inflation to that two percent target threshold over the medium term. I think it was notable that obviously inflation in September did fall a little fast and the ECB had been expecting. And as I say, I think the next meeting in December will prove to be particularly instructive as we get forecasts out to twenty twenty six for the first time, but also looking at those longer run inflation expectations and if those are back towards the two percent threshold in aggregate across the whole of the zone, and that of course is the difficulty. We will still get divergence in the individual nations, but as an aggregate measure, the ECB is going to be aiming to get back to that two percent target threshold over the course of the next two years. Jeremy, I'm going to go to a wonderful moment I had with the August and here from Leon Jean Claude Trichet, and he talked to me about transmission, the diffusement of an economy across borders. Europe doesn't have the transmission mechanisms of America, do they. Well, there is obviously one of the inadequacies of the Eurozone project is the you know, the difficulties on the fiscal side on a relative basis that the US obviously has because the US has the you know, the federal system, and we do get that disperse into federal funds across the fiscal dynamics. So we are in a situation where the plumbing, if you like, in terms of the Eurozone economy, in terms of monetary and fiscal policy is very diverse because of course fiscal dynamics, and that's still much more at the behest of national governments. But I think the other interesting dynamic to consider as we move into twenty twenty four is that the Eurozone is thinking about bringing back those fiscal thresholds that were put on or suspending during the COVID period, and that will be an interesting dynasm to add to the rinkle about fragmentation risk, and that of course is one of the big concerns that the ECB has to be mindfulwed even if prisident, Legard will try and downplay any concerns at this particular Poet, Jeremy Stretch, thank you so much. October thirty, Apple to announce new MacBook pros I should say Lindsay Piaggs is pleased with that because as she ran her Excel spreadsheet on the American economy at burn Up or MacBook a couple days ago, Doctor piags it joins us now from Stifel as well. How hard is it to put together an Excel spreadsheet with the mysteries of this American economy. Well, it's typically difficult, but it's become increasingly difficult with all of these ancillary factors that are coming in that are virtually impossible to model. We do have a lot of international factors that are impacting the market's expectations. We do have now unprecedented fiscal variables that we're trying to account for. But I think right now the market is very much discounting that third quarter number, focusing onstead on the latest central bank decisions the BOC the ECB as a proxy for what to expect from the Fed next week, suggesting that developed central banks around the world, despite still elevated inflation, are starting to pull back in anticipation of a slower level of longer term growth. So the market very much anticipating the Fed maybe moving to the sideline for certainly a prolonged period of time, but maybe indefinitely at this point. So, lindsay, just to crystallize what you're saying, are you saying that the Fed can kind of look through what we're getting out of this blowout GDP print, or at least that's the market's expectation. No, that's the market's expectation. But remember the market has been preemptively calling an end to FED rate hikes for the past two years and wrongly pricing in rate cuts. The Fed, however, has been very clear beating drum of higher for longer, very consistent in their message, and I think when we look at some of the underlying data in the Q three report, the resilience of businesses, the resilience of the consumer, and yes, to Lisa's point, we have seen a little bit of an uptick in claims, particularly continuing claims, but broadly speaking, the labor market is still extremely tight. So the FED is looking at all of these data juxtaposed with inflation that's still too high. I think the Committee is going to have a very difficult time selling a prolonged period of a pause. I think there is still more work to be done before they reach a sufficiently restrictive level to ensure that we remain on a disinflationary trend back to two percent. Well, Linda, you're getting of what I've been wondering about. Of course, this is a very binary question, and we live in a shades of gray world. But when you think about the just raft of numbers that we got this morning, you take a look at to blow out GDP print, but then you look at initial jobless claims a little bit higher. What's the stronger signal there? Which one should we be focusing on? Oh, the consumer, certainly, And I understand that this is backward looking, but remember claims are extremely volatile, and we don't want to look at one data point, but rather the underlying trend in claims, which is still extremely low, still signaling that tight labor market or tight labor market conditions, which is going to continue to perpetuate the ability for upward pressure on wages, extending that to further purchasing power for the consumer in the marketplace, suggesting again the backbone of the economy, the underlying support of the economy, i e. The consumer remains resilient. There's been a real angst to underpinning some of the recent sell off in the bond market. The longer end that hasn't been tied to the Fed at all. It's been tied to a widening deficit and likely increasing spending. How much is the FED going to find itself increasingly at odds with fiscal spending because you talk about the need potentially for the Feds do more. How much is the strength that we're seeing in the gd preprint tied directly to that government spending. Oh? Absolutely, this is one of the problems when monetary policy and fiscal policy are moving in opposite directions, that's going to force the Fed's hand to take an even firmer position to counteract that expansion of government outlays. Now, we do know that federal stimulus has largely concluded, but there's other fiscal stimulus that's coming down the pipeline as a result of legislation that was passed over the last twelve to eighteen months, be that infrastructure spending, the IRA, the Chips Act, and other spatterings of state and local stimulus that is still being spent on constituents. So there is still a lot of purchasing power, a lot of borrowing and investment power out in the marketplace that the FED is desperately trying to drain out of the system. But again, the more that we see monetary and fiscal policy moving in opposite directions, the more that becomes a barrier for the FED to achieve its goal of price stability. Lindsay. A lot of people are writing in. They're saying that I didn't really have a right to be confused because it's core PCE. When you look at the actual inflation, yes, you're seeing growth, but it is disinflation stare you are seeing a reduced pace of growth when you strip out energy and food. How much credence do you give the idea that we got in this gdpreprint a core PCE read two point four percent. Is that the sort of number to hinge off. It's certainly encouraging, But again, when we look at some of the other data metrics, when we look at headline pc when we look at the headline CPI, we're not seeing this clear downward trend of disinflation. Now, of course, monetary policy is not based on headline price pressures. We strip out those volatile food and energy composedonents. Lindsay piigs a stiff very near her good conversation with US year Edward Mills. Hugely experienced. He is at Raymond James with far more has legit committee, an individual congresspeople's skills in Washington, particularly working with Maloney of New York ed Mills. This new speaker the uproar that I hear, and yet your research note says he can drive to the center. How does the gentleman from Louisiana move the Republicans to a doable center. I think it's going to be a tough task. I think Tom the thing that I am most focused on with the news speaker is how quickly at the end it happens. In DC things appear impossible right up until the moment it's inevitable. So having a unified Republican caucus is not something we would have thought. But the big question in my mind is this is a speaker who has not been vetted, and as he is vetted, how does he come out of that vet? What type of narrative about his leadership? And I think what we're talking about is for him to keep that, for him to keep the seat, for him to be able to govern. Do you need to find the middle, because what we've seen is that the fringe does not support many legislative packages, and that's paralysis. Help me with the sequence here. Course before Kart is November seventeenth and a government shut down prior to the defense allocations you mentioned, the first task of Senate House House Senate is well war funding if you will. Is that going to be before November seventeen? I think it's kind of a toss up between the two. I think to start with the November seventeenth deadline, Tom, we're not going to have a government shut down. It looks like we are going to punt government funding either into January or maybe as far as April. But in doing that there will be the conversation about defense funding. The President has sent up to Congress a robust supplemental package, and what we're hearing is the Senate will want to have a strong, by hardistan vote on that, trying to put pressure on the House, not differentiating aid for Ukraine from Israel or Taiwan. So how do you understand the fact that Mike Johnson has made a real important issue of his cutting the deficit, and yet there are all of these requests to finance some pretty big military expenditures. How much is that going to be a sticking point that makes it uncertain whether we get this aid across. We were speaking earlier with John Lieber of Eurasia and he was saying, we're going to get it passed. Are you as confident? I am confident that will get something passed. I think that the big question is timing in the scale of this, Lisa. When you go back to some of the other pushes to become speaker, this was probably most out in the focus during the push for Jim Jordan. The only way some of the defense hawks within the Republican Caucus who were willing to support him and the expectation is the only reason why they're willing to sport Johnson was that they needed to get a guarantee on a robust defense bill extra defense funding in the Defense Authorization Act before the end of the year. That group is far greater than the ord needed to keep that speakership. So if he wants to keep that speakership, he's been against that Defense aid in the past, and especially voted against Ukraine aid, but the geopolitical environment's very different now in his political position is completely changed and ed to do all that. You made the point that Johnson really needs to find the middle here. But if he doesn't, I was speaking to Henrietta Treys Yester and she made the point that the Senate is still functional. That's the saving grace because at the end of the day, the House will do what the Senate tells it to do. You agree with that logic largely. I think when you see the Senate, if they pass something with eighty ninety votes, it's not a politically tenable position not to even have a vote on that in the House. And if you were to have a vote on something that ascid with eighty or ninety of one hundred votes in the Senate, in the House is near guaranteed to have a majority go to the president's desk. And I do think Johnson has a little bit of leeway here where he doesn't have the baggage of some of the previous ones. So some of the first fights, which will be government funding and defense funding, he's not necessarily going to get blamed for the position that Republicans are in because he's new to the job. Hey, you know, Ed Mills, I look at this. I was taking ann Rey hoard in three to zero two, which is advanced Civics lessons inside the Beltleigh, and I guess every speaker has a lot of power. Is he going to blow up the leadership of the Republican Party or is he going to attach himself to, say the hockey player from Minnesota and the others. Well, I think he's going to attach himself to the majority leader. I think i'd go back to the last time we had a speaker that no one really had heard of, which was Speaker Hasser. And you have the most empowered majority leader of in decades with Tom Delay when you saw him have the press constraints and there was some booze by Virginia Fox. What I was watching is Steve Scalise, the majority leader from his state of Louisiana, was standing right behind him and told him exactly what he said. He said, next question, let's talk about policy. Then Mike Johnson said, next question. So he is a lockstep with the current majority. And that is the Edmills perspectives. It's so valuable with Raymond James, Edmills, thank you so much. Meta shares not diverging from the rest of the complex, shares falling after the company warned a quote uncertain revenue outlook for next year. This was the dominant narrative, even though the tech giant beat expectations on third quarter revenue. All of this dashing hopes for a long term recovery in the company's advertising business. It's spending, though aggressively in other areas and artificial intelligence and virtual reality. It raises this question, you know, what are people hinging onto just this hope of uncertainty or expectation of uncertainty that we all know just Instagram? You know, it's just Instagram. It's it's what Storm's doing over at Instagram plus six classics, mandeep sexy technology analytics through Instagram and Go. That's a short Bloomberg Intelligence joining us. Now, Mandy, what does it tell you that they came out with really good earnings at least on the fundamental basis that they say that there's uncertainty and that they share sell off. Well, so I think they gave a pretty broad guidance thirteen to twenty four percent for next quarter. When you see that sort of white guidance, you know, you know the company is not sure and they didn't have that sort of uncertain guidance on the expense side, So they said reality labs losses would mount, and I think fear that company is really feeling the investors is not giving them markers around what they're actually doing. I mean, losing fifteen billion dollars a year on reality labs and not telling what you are investing in. Because we know Apple has a new virtual reality headset. It didn't take them fifteen billion dollars to make that headset. So clearly they are investing in something that nobody knows, and I think that's the uncertain How is AI different for Zuckerberg than AI is different for Google where AI is different for Microsoft, So there is an overlap between Google and Meta's version of AI versus Microsoft's and microsofce corporate. I got to get a job done. Let's go Yeah, and what's Meta's AI is? You are consuming Instagram feeds, Facebook feeds, I mean the average user is, and so how can AI enhance that experience both for the consumer as well as for the creator who's creating content for the feed? And AI can offer you a lot of tools to generate images based on text description. So there's a lot that AI can do in messaging, think of customer service, you know WhatsApp, so this AI and Instagram. I don't buy it AI and Amazon this afternoon. What is Josie going to spin on AI? Amazon? I mean amazonal story hardboard box is about compute training the models. Everyone wants these GPUs to train their large language model. They're buying AI from Microsoft. I saw that ten days ago or so, right, Yeah, well they are upgrading their three sixty five on Prime version to Microsoft. So completely lost. And so that's the thing about the generative AI wave that it is quite broad and every company can use it in different ways. Some companies are focusing on training models, some are focused on inferencing use cases. And you don't even know what this is, Cady. It feels like a Morcan mindy skip. You know, Robin Williams is going no, no, no, no. I just everybody's got a different definition of AI or I guess they're trying to play for a different part of this large pie that everyone sees with generator. Save me. Let's talk about something we all know. Let's talk about the cloud business at Amazon. Of course AWS. You saw sales growth there slow to a record low in the second quarter. We know that the cloud business was why Alphabet had such a bad day yesterday. What are we going to see out of the cloud business at Amazon? I mean, the good thing is expectations are lower for Amazon, and we're talking about mid teen's growth for AWS, and yes, it has the largest base in cloud, but everyone perceives them to be behind with generative AI workloads. That may not be the case, and so there is room for an upside as long as they prove to the street that you know, they are catching up with Jenai and offering the compute that everyone needs to train their models and not to go back in time. But you think about what happened at Alphabet, I mean, I'm just stuck on the share price move yesterday down almost ten percent, worst day since March twenty twenty. Is that an overreaction? Was it that bad with Alphabet? It definitely feels felt like an overreaction, simply because the search business actually did remarkably well, and unlike Meta, which continues to see ad pricing declined, Alphabet saw an ad pricing increase, which is a positive sign. It's an auction mechanism, so advertisers are bidding up for your ads. And there was talk about uncertainty yesterday around the Middle East war and everything that will draw down the advertisers spending. But clearly Alphabet had a positive print on the search side and the cloud side. Really the expectations were too high, So I think that's where Amazon may have an advantage going into the print. I want to try to understand the psychology of the investor base in some of these tech names, because it's been shifting over time and we've seen that. What are we learning about what the key triggers are going to be to buy and what the key triggers are going to be to sell after the games that we've seen so far this year. I mean, look, the cost of capital is going up, and so I think the days of spending fifteen billion dollars a year on moonshots are probably gone even for larger companies, as long as they keep deliver bring you know, twenty percent plus growth meta for Meta. Everyone is okay with them spending on reality labs. The moment that growth decelerates, that's when that fifteen billion dollar loss really becomes a sticking point for free cash flow. Is that the reason why you expect things for Amazon to be positive because they have that infrastructure AWS, which is the major player in the cloud space, they have that revenue coming in, they have Tom Keynes offspring buying lots of boxes. How much is that really going to play into a positive that could offset some of the negativity that we're hearing from the likes of ups this morning. Clearly, I think everyone believes that, you know, digital transformation, generative AI. These are secular trends, and right now, I think for Meta to spend thirty billion dollars in capex and not have a cloud business or something equivalent is also sticking out because that could have been a key source of diversification for them. This is an arch question. Do you and Anna rod Rana see the cloud business? I have no idea what I'm saying when you see the cloud business? Is it a classicdopoly or triopoly or can there be a set you know, number five sixty seven players. I just don't buy it. I mean, right now it's a triopoly and Oracle actually is investing a lot in building it's cloud investing. But do you believe people can grab share and come down and make a fundamental free cash flow generation or is it going to squeeze into a triapoly? No? I think you can, because right now the compute. Nature of compute is changing, so it's not CPUs consumed on the cloud anymore, it's GPUs, different types of accelerators, different types of databases, and that's where if you don't have a legacy business, which Microsoft does, I think Google has an advantage. Amazon has an advantage that they don't have a legacy business, and that's where they can keep building that Joining us right now, John Fair on assignment, Kavin Greifeld with us this morning. Michael Nathanson joins. This is senior research analyst at Mofatt Nathanson on a pluthor of things. Lisa, why don't you drag in Nathanson here on Facebook because you know the story better than I do? All right, Michael, thank you for joining us. I want to start with the one note of caution that really drove all of the price action. They came out and said, we don't know what's going to happen. What else is new advertising? Who knows? Oh my goodness, the stock fell. How realistic is this or instructive of what we can expect in the year to come. Yeah, I was disappointed by that fact that the market took that comment around with him. These guys just put up twenty three percent AGROTH in a quarter and a year ago. People were thinking this business was dead, right, all the momentum is behind them. They called out a little bit of choppiness because what's happening in the Middle East. But I don't think it was that big of a deal. I mean, their guidance is still pretty strong, So I think this is This is an amazing story in terms of Tom and T Mobile. This could be. This could be the second story. People have just underestimated the strength of a business model. The recover it has been amazing. There's been a lot of There's been a lot of questions though around just in general the online advertising business, especially at a time where all of the content creators are facing off with consumers that really don't like advertising and are willing to spend to avoid it. How much are we seeing with respect to consolidation of market share at the likes of Meta at a time when Google also saw an increase in ads bend despite their cloud issues. What does that tell us about the overall market versus just consolidation with the leaders? Okay, big picture, those two companies, the growth rates of Meta and Alphabet are back to where they were in early twenty two. So if you remember the past couple of quarters, there's all kinds of worries about e commerce slowing. It's getting better about changes to Apple's IDFA system that's been fixed. So it says to you like the market's actually really healthy and that you're seeing kind of the structural tailwinds and online gaming discontinue. Right. We had a very tough compare in twenty twenty two that's now behind you. So I felt pretty good about the health of this business with the scale. Prayers for a snap for a Twitter go luck to you. It's not going to happen, you know. Michael math is a congratulations. Netflix has done a double. It's off Mark Mahaney. What's he know? He's going up another one hundred dollars on Netflix review for us, the winner of streaming is Netflix and a Microsoft equivalent, even at thirty eight times earnings. It's a good question, Tom. It's different than Microsoft because you don't have the operating leverage you know, longer term, right, so you have to keep investing in content. The great thing about software models is that incremental margins are massive. Once you build it, you get the benefit of scale. In media for the most part. In the streaming model, you have to keep an investing in content, so they'll have margin leverage, but nowhere near the same margin leverage of what we saw last night with Meadow or Microsoft. So but in streaming there a winner. It's because it's such a tough business for everyone that's not in Netflix right now. So it's really there's one winner. There's Disney, and then there's everyone. Disney's not even a winner yet, and they're going to just churning cash flow to get your attention. Yeah, I mean, you know, I just brought up the Disney chart. You know, I just do we do this for Michael Nathanson, folks to give him, give him a little bit of angst here on a Thursday morning, Michael Nathans and Disney is back to twenty fourteen pricing. Help yeap, When does it turn You've been wrong, wrong, wrong. It's been like the New York Yankees. It's a disaster. I say, when does thank you? When does Disney Chern? Can? I say? Upgraded? When Bob Eyer came back in ninety bucks And it's just been painful to me. So thank you Tom for reminding me it's good, so we do about it. It's got exactly and sell and sell houses in the suburbs. So here's what here's what I think is going to happen. Twenty twenty four is a year of they have to consolidate Hulu and Disney plus margins and streaming or negative netflixes are in the twenties. To me, it's about streaming profitability in twenty twenty four, and they have to get who in house, which is going to happen by hopefully the end of the year. So I've a lost hope in Disney. I think that is again, I think this is your meta in twenty four. I mean a year ago people were killing the stock, and I think that Disney could be a great stock in twenty four, but you need to get streaming margins up to a level that people start caring about, which is gonna take some time. Well, Michael, it's really interesting to hear this conversation because you're still a buy on Disney. Okay, it could be a great stock in twenty twenty four, But to meditate a little bit longer on your Netflix comments, you're still neutral on the stock. What would bump you up to a buy bump m to buy would be to have earnings numbers because evaluation to Thomas point to me is it's pretty full. Look at it versus Google, Alphabet or Meta. To me, it's having faith and numbers that are above consensus. And I think we all have the same numbers now we pretty much a model with the companies told us there's no way to doubt it at this point, So you know, pretty much we're just debating multiple at this point. I don't think people have a real edge on earnings. And our numbers pretty much were consensus. We're at Meta and other names. We've been above consensus and that's been our call. You know. We we have conviction that numbers are wrong. To the upside, we will get very aggressive about the buy rating. And when it comes to Netflix and the streaming business in general, how does Netflix maintain market share here? Does that really all just come back to the content slate? Well, it's interesting. You know, when they built their business, they borrowed other people's content, and we were writing for many years and that was a dumb idea. So they would rent the office, they would rent friends. Given the state of media, you're starting to see evidence that they could go back to renting other people's content, which is a very cost effective way to build a business. So what can happen longer term is that they could blend from making all these originals, which is a much tougher business, to renting people's movies and TV shows and given and again the state of media companies, that can happen. You know, I don't think Disney will do that, but you know, Warners, Paramount, you know, NBC Universal talked about licensing more content. Michael, what do you expected to hear after the bell when we get Amazon earnings, particularly around the acquisition of content having to do with sports. NFL the last sort of death now for cable, Right, So Mike Morton covers Amazon for us. He's very bullish on next year's margin opportunity. They're going to be looking at the NBA. Right, So the NFL has gone well for them, The ratings are up in a really strong amount this year, and the NBA is the next big package for grabs, and there's a good chance that they can get a slate of games, you know, getting out Tuesday or Thursday night games. So I think they're going to tell you that, Look, it's going well you see this as a chance, to your point to really distance remediate cable networks thein thing. They're going to go for it. So you know, Amazon to us is is really in the second or third position behind ESPN for getting the next set of big rights. Here for Sports Award winning Michael Nathanson was just decades of good good news is here. Subscribe to the Bloomberg Surveillance podcast on Apple, Spotify, and anywhere else you get your podcasts. Listen live every weekday starting at seven am Eastern. I'm Bloomberg dot Com, the iHeartRadio app tune In, and the Bloomberg Business app. You can watch us live on Bloomberg Television and always I'm the Bloomberg Terminal. Thanks for listening. I'm Tom Keen, and this is BloombergSee 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Lindsey Piegza is Chief Economist and Managing Director at Stifel Financial. In this interview, we explore several key economic and policy topics on the minds of investors, with Lindsey summarizing the outlook by saying: “The U.S. labor market is still very tight. Inflation is still too high. And the Fed therefore still has more work to be done.” We next discuss the recent rash of strikes and walkouts, the pace of progress on pricing pressure, and how “Chair Powell has been very clear that orange is not the new black. 3% is not the new 2” when it comes to his inflation target. The discussion then shifts to fiscal policy, federal government debt, and why markets appear to be pricing in more risk of long-term balance sheet deterioration (even if a full-on “debt trap” is not the likeliest scenario). We also touch upon the recent Middle East conflict and how it could exacerbate energy supply and pricing concerns. Finally, Lindsey gives a sneak peek at what she'll discuss at the MoneyShow/TradersEXPO Orlando, set for Oct. 29-31, 2023 at the Omni Orlando Resort at ChampionsGate. Register: https://conferences.moneyshow.com/moneyshow-orlando/?scode=061246

Bob Doll, Crossmark Global Investments Chief Investment Officer, says he's cautious on the markets and economy as cracks are beginning to develop. Jordan Rochester, Nomura G-10 FX Strategist, believes the ECB is done hiking. Lindsey Piegza, Stifel Chief Economist, discusses US retail sales exceeding forecast. Terry Haines, Pangaea Policy Founder, discusses Trump's indictment in Georgia. Drew Reading, Bloomberg Intelligence, discusses Home Depot earnings topping estimates. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Lindsey Piegza, Chief Economist of Stifel Financial, sits down with us at the Investment Masters Symposium in Las Vegas to discuss the current economic outlook and the Federal Reserve's actions. She mentions there is optimism about avoiding a significant downturn in the labor market despite potential rate increases. But there are also signs of uncertainty and potential challenges ahead, especially if consumer momentum continues to weaken.Lindsey highlights the Fed's goal of achieving price stability, suggesting it might continue its efforts with one or two rate hikes by the end of the year — and noting that while there has been progress on the inflation front, the targeted 2% inflation level hasn't been reached. She also touches on employment data, acknowledging that hiring has cooled somewhat, but that hundreds of thousands of Americans are still finding jobs each month. Finally, Lindsey addresses potential scenarios related to credit conditions that could influence policy decisions. If you want to learn more from Lindsey, she will be speaking at The MoneyShow/TradersEXPO Orlando, set for Oct. 29-31, 2023 at the Omni Orlando Resort at ChampionsGate. Visit www.OrlandoMoneyShow.com for more info.

Julie Su, Acting US Secretary of Labor, discusses the US June payrolls report coming in below estimates. Randall Kroszner, University of Chicago Booth School Professor of Economics & Fmr. Fed Governor, says "wage growth is still stronger than the Fed will feel comfortable with." Lindsey Piegza, Stifel Chief Economist, says the jobs report "keeps the Fed on the path for an addition rate increase later this month." Christian Horner, Red Bull Racing Team Principal, says Max Verstappen "continues to surprise us" and there's "more to come." Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Stuart Kaiser, Citi Head of US Equity Trading Strategy, says we're "bouncing into a ceiling and a floor" between 3,800 and 4,200 on the S&P 500. Lindsey Piegza, Stifel Chief Economist, says 2Q GDP could actually surprise to the upside. Oscar Munoz, Former United Airlines CEO, discusses the state of the airline industry. Janno Lieber, MTA Chair & CEO, discusses safety and affordability of New York City public transit. Greg Valliere, AGF Investments Chief US Policy Strategist, discusses Biden, McCarthy's upcoming debt-limit meeting. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Lindsey Piegza, Stifel Chief Economist, says the US is losing momentum, but is still resilient following the latest GDP print. Michael Nathanson, SVB MoffettNathanson Senior Research Analyst, says Meta is a $300 stock. Andrew Slimmon, Morgan Stanley Investment Management Senior Portfolio Manager, expects the market will end the year higher than 4,200. Bob Doll, Crossmark Global Investments CIO, says a slowdown is still upon us. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, says the "monetary policy to stimulate the economy right now obviously is not there because [the Fed] has to fight inflation." Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

The indictment, arraignment and upcoming trial of former president Donald Trump in New York captured headlines yesterday, but it’s 200 miles away in Washington D.C. where the economic effects of the spectacle could be felt. We talk with the Eurasia Group’s Jon Lieber about what Trump’s legal imperilment could mean for polarization and policymaking on Capitol Hill. Plus, we chat with Lindsey Piegza, Chief Economist at Stifel Financial, about the latest trends in interest rates and today’s ADP jobs report. Also, Johnson and Johnson is looking to settle lawsuits over its talcum powder for around $9 billion. And, how Zimbabwean mining companies are being impacted by rolling blackouts across the country.

The indictment, arraignment and upcoming trial of former president Donald Trump in New York captured headlines yesterday, but it’s 200 miles away in Washington D.C. where the economic effects of the spectacle could be felt. We talk with the Eurasia Group’s Jon Lieber about what Trump’s legal imperilment could mean for polarization and policymaking on Capitol Hill. Plus, we chat with Lindsey Piegza, Chief Economist at Stifel Financial, about the latest trends in interest rates and today’s ADP jobs report. Also, Johnson and Johnson is looking to settle lawsuits over its talcum powder for around $9 billion. And, how Zimbabwean mining companies are being impacted by rolling blackouts across the country.

Jerome Schneider, PIMCO Head of Short Term Portfolio Management, says cash is back, bonds are back. Lindsey Piegza, Stifel Chief Economist, says we could see a 6% Fed funds rate. Kathryn Kaminski, AlphaSimplex Chief Research Strategist, expects a steepening of the curve if the stock market "wins." Thierry Wizman, Macquarie Global Interest Rates and Currencies Strategist, says Europe's economy is stronger than the US. See omnystudio.com/listener for privacy information.

Lindsey Piegza, Stifel Chief Economist, says we are teetering towards a recession following US 4Q GDP. Philip Camporeale, JPMorgan Asset Management Portfolio Manager, says we're behind the pandemic highs with inflation. Vasileios Gkionakis, Citi Head of European FX Strategy, says the currency market has not fully priced in a 'relatively smooth' China reopening. Helane Becker, Cowen Senior Research Analyst, discusses airline earnings. See omnystudio.com/listener for privacy information.

Julian Emanuel, Evercore ISI Chief Equity & Quantitative Strategist, says the team expects 6.2% GDP growth in China this year. Max Kettner, HSBC Chief Multi-Asset Strategist, says that the drop in recession calls for Europe could continue over the next couple weeks. Lindsey Piegza, Stifel Chief Economist, says the Fed will raise rates higher. Olivier Blanchard, Peterson Institute for International Economics Senior Fellow & Author, "Fiscal Policy Under Low Interest Rates", says inflation is too high and we need to slow down the economy a bit. See omnystudio.com/listener for privacy information.

Lindsey Piegza, Stifel Chief Economist, says 2023 is opening the door for a recession. Lori Calvasina, RBC Capital Markets Head of US Equity Strategy, says small caps are starting to outperform. Daragh Maher, HSBC Head of Research Americas & Head of US FX Strategy, says risk appetite has been at the core of everything that's happening in the FX market. Stephen Schork, The Schork Group Principal, says the oil narrative has shifted from supply to a demand. See omnystudio.com/listener for privacy information.

Lindsey Piegza, Chief Economist at Stifel, recaps Friday's US job report. She spoke with hosts Doug Krizner and Paul Allen on "Bloomberg Daybreak Asia."See omnystudio.com/listener for privacy information.

Lindsey Piegza, Chief Economist at Stifel, previews Friday's US job report. She spoke with hosts Bryan Curtis and Rishaad Salamat on "Bloomberg Radio Daybreak Asia."See omnystudio.com/listener for privacy information.

Matt Palazola Senior Analyst of P&C Insurance with Bloomberg Intelligence, previews Q3 earnings for Berkshire Hathaway this weekend. Sam Fazeli, Senior Pharmaceutical Analyst/Head of EMEA Research with Bloomberg Intelligence, discusses Pfizer earnings, the pharma industry, and the latest on COVID. Alison Williams, Senior Global Banks and Asset Managers analyst with Bloomberg Intelligence, joins the show to discuss the latest on Credit Suisse and outlook for the firm. Lindsey Piegza, Stifel Chief Economist, joins the program to talk about sectors she sees performing well the rest of 2022 and previews the upcoming FOMC meeting and jobs report. Kip Eideberg Senior VP of Government and Industry Relations for AEM (Association of Equipment Manufacturers), joins the show to discuss how manufacturing workers who he represents feel about the state of manufacturing in the US, globalization, and where their political leanings are with the midterms a week away. Hosted by Paul Sweeney and Kriti Gupta.See omnystudio.com/listener for privacy information.

Kathryn Kaminski, AlphaSimplex Chief Research Strategist, says nobody knows what the market is or should do going forward given the complexity of the new macro environment. David Kostin, Goldman Sachs Chief US Equity Strategist, discusses the US dollar's impact on earnings and why he thinks there will be fewer buybacks next year. Lindsey Piegza, Stifel Chief Economist, says the market is consistently underestimating the level of inflation. Steve Case, AOL Co-Founder, discusses his new book “The Rise of the Rest” and his outlook for the tech sector. See omnystudio.com/listener for privacy information.

The act, instituted in 1972, turns 50 today. We measure its impact thus far. Stifel Financial’s Lindsey Piegza helps dish out some market perspective. Then, we dive more into the difficult job landscape that awaits people who’ve been incarcerated.

The act, instituted in 1972, turns 50 today. We measure its impact thus far. Stifel Financial’s Lindsey Piegza helps dish out some market perspective. Then, we dive more into the difficult job landscape that awaits people who’ve been incarcerated.

Welcome back to In Good Companies! This season, we're exploring the forces shaping your business, inside and out—and to kick off Season Two, we've got a double whammy: inflation and interest rates.During COVID, the Federal Reserve cut its target range for the Federal Funds Rate to 0.00% to 0.25%. But now, in 2022, inflation has hit a 40-year high and interest rates are climbing again. In six short months, the Federal Funds Rate target range has risen steeply, from a range of 0% to 0.25%  to a range of 3.00% to 3.25%. High interest rates can have a substantial effect on businesses and consumers alike. So, how high will rates climb? And how long will they stay elevated?  One of the people best positioned to answer those questions is Dr. Lindsey Piegza, Chief Economist at Stifel: she's spent her career translating the economy to a broad audience. Together, we'll examine the relationship between interest and inflation, decode the Fed's monetary policy and explore why this inflation might be particularly stubborn.As always, we'll dig into what this means for you and your business: what indicators to pay attention to, how to adapt to a high-interest environment and why you should be especially cautious when inflation recedes.So join us! We've got your best interest at heart.Highlights: Why our economic situation is deceptive (3:40) Federal Funds Rate deep dive (6:20) The relationship between inflation and interest rates (8:22) Rate hikes in 2022 (9:09) How the Fed uses interest rates as a communication tool (10:51) What will drive the Fed's decision-making (12:29) The lag of monetary policy (14:09) What happens if inflation doesn't subside (16:13) The effects of a high-interest environment on small business (19:05) How inflation and interest affect consumer behavior (21:32) Why caution and adaptability will be key (22:50) Markets are cyclical (25:01) Links: Cadence Bank Website Cadence Bank Twitter Cadence Bank LinkedIn Dr. Lindsey Piegza LinkedIn Stifel Institutional Website Stifel Financial LinkedIn Federal Reserve –Summary of Economic Projections, September 2022 Gallup – Inflation Causing Hardship for Consumers Feedback:If you have questions about the show or topics you'd like discussed in future episodes, email our producers, sheena.cochran@cadencebank.com or danielle.kernell@cadencebank.com.

Lindsey Piegza, Chief Economist at Stifel, previews Friday's US job report. She spoke with hosts Bryan Curtis and Rishaad Salamat on "Bloomberg Daybreak Asia."See omnystudio.com/listener for privacy information.

Markets saw their worst day yesterday since June with traders worried about potentially more interest rate increases to come from the Federal Reserve. We’ll get a better idea of where the Fed is at when Chair Jerome Powell speaks Friday at the Jackson Hole Economic Symposium. Today, we spoke with Stifel chief economist Lindsey Piegza about what might be next in the Fed’s fight against inflation. Plus, the average minimum salary someone is willing to accept for a new job has risen since last year. We get the latest snapshot of the labor market. And, the demand for help from local abortion funds has risen as some states move to restrict or ban abortion.

Markets saw their worst day yesterday since June with traders worried about potentially more interest rate increases to come from the Federal Reserve. We’ll get a better idea of where the Fed is at when Chair Jerome Powell speaks Friday at the Jackson Hole Economic Symposium. Today, we spoke with Stifel chief economist Lindsey Piegza about what might be next in the Fed’s fight against inflation. Plus, the average minimum salary someone is willing to accept for a new job has risen since last year. We get the latest snapshot of the labor market. And, the demand for help from local abortion funds has risen as some states move to restrict or ban abortion.

Vince Cignarella, Global Macro Strategist with Bloomberg News, discusses the July CPI report. Lindsey Piegza, Stifel Chief Economist Lindsey Piegza, discusses CPI and the economy. Keith Krach, former Under Secretary of State for Economic, Growth, Energy, and the Environment, and founder of Krach Institute for Tech Diplomacy, discusses the supply chain and economy as well as semiconductor production in the US. Jeffrey Cleveland, director and Chief Economist at Payden & Rygel, talks about the economy, inflation, and whether or not we're in a recession. Rob Barnett, Senior Analyst with Bloomberg Intelligence, discusses energy prices, CPI, and the Inflation Reduction Act and its impact on energy. Hosted by Paul Sweeney and Matt Miller.See omnystudio.com/listener for privacy information.

Lindsey Piegza, Stifel Chief Economist, says the Fed is solely focused on inflation and will keep hiking as far as needed. Michael O'Rourke, JonesTrading Chief Market Strategist, expects a rough second half of the year. David Kotok, Cumberland Advisors Chairman & Chief Investment Officer, says this is not a normal inflation shock. Liana Fix, Korber Foundation Program Director, says there is a lot of fear and uncertainty among the German population over rising energy prices. See omnystudio.com/listener for privacy information.

The appointee is Marilynn Malerba, chief of the Mohegan Tribe of Connecticut. In her new role, Malerba will have the distinction of being the first Native American whose name will appear on U.S. currency. Lindsey Piegza of Stifel Financial joins us to discuss the markets. Homebuyers are still paying top dollar to live in high-tier school districts. 

The appointee is Marilynn Malerba, chief of the Mohegan Tribe of Connecticut. In her new role, Malerba will have the distinction of being the first Native American whose name will appear on U.S. currency. Lindsey Piegza of Stifel Financial joins us to discuss the markets. Homebuyers are still paying top dollar to live in high-tier school districts. 

In this episode of The SIFMA Podcast, SIFMA President & CEO Kenneth E. Bentsen, Jr. sits down with Lindsey Piegza, Ph. D, Chief Economist and Managing Director for Stifel Nicolaus & Co. and Chair of the SIFMA Economic Advisory Roundtable, to discuss the outlook for the U.S. economy and results from SIFMA's recent survey of chief economists from 27 global and regional financial institutions. To download the survey, visit https://www.sifma.org/resources/news/the-sifma-podcast-a-conversation-with-lindsey-piegza-on-the-2022-mid-year-economic-forecast/

We consult with Lindsey Piegza of Stifel International as the markets, especially the tech-filled Nasdaq, are still in an acute phase of a selloff that’s been going on for five weeks. What’s going on? We look into why oil appears to be cheaper, but not gas. Also, banks are preparing for a possible wave of loan defaults as consumer credit is on the rise.

We consult Lindsey Piegza of Stifel as the markets, especially the tech-filled Nasdaq, are reeling from a selloff that’s been going on for five weeks. What’s going on? Also, we look into why oil appears to be cheaper, but not the retail gasoline we’re buying at the pump. And, banks are keeping an eye out for signs of future loan defaults as consumer credit is on the rise. Your donation powers the journalism you rely on. Give today to support Marketplace Morning Report.

Bill Dudley, Former New York Fed President and Bloomberg Opinion Columnist, says the Fed might need to force stocks to fall. Evelyn Farkas, Former U.S. Deputy Assistant Secretary of Defense for Russia, Ukraine and Eurasia, says she is worried the U.S. is not thinking enough about how to save lives in Ukraine. Michael Collins, PGIM Fixed Income Senior Portfolio Manager, says higher inflation is going to start destroying demand. Senator Bill Cassidy, (R) Louisiana, is proposing an Operation Warp Speed to combat high energy prices. Lindsey Piegza, Stifel Chief Economist, expects a negative GDP print in the first quarter of next year. See omnystudio.com/listener for privacy information.

The Pentagon is worried about the number of companies it has to choose from to buy everything from missiles to batteries. It's out with a new report, prompted by President Biden's executive order last year, directing federal agencies to figure out how to increase competition. Stifel’s Lindsey Piegza joins us to discuss prices at the wholesale level during our talk about the markets. We explore how price gouging inquiries during the pandemic have led to friction in the traveling nurse space.

The Pentagon is worried about the number of companies it has to choose from to buy everything from missiles to batteries. It's out with a new report, prompted by President Biden's executive order last year, directing federal agencies to figure out how to increase competition. Stifel’s Lindsey Piegza joins us to discuss prices at the wholesale level during our talk about the markets. We explore how price gouging inquiries during the pandemic have led to friction in the traveling nurse space.

David Kelly, JPMorgan Asset Management Chief Global Strategist, says the flattening of the yield curve demonstrates there is a risk of the Fed spurring a recession. Subadra Rajappa, Societe Generale Head of U.S. Rates Strategy, says the Fed will careful about sounding overly hawkish going forward. Alexander Brideau, Eurasia Group Practice Head, says Putin hasn't budged much on the issues that really matter. Lindsey Piegza, Stifel Chief Economist, says the Fed is convinced inflation is near peak levels. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jury deliberations are underway for the former CEO of Theranos, and there’s still some doubt has to what they will decide. We turn to Adam Lashinsky of Business Insider about Holmes’ possible fate. A survey’s data shows that most people aren’t expecting a better personal financial situation for themselves in 2022. Lindsey Piegza of Stifel Financial talks to us about the markets as Wall Street shook off three straight days of losses.

Jury deliberations are underway for the former CEO of Theranos, and there’s still some doubt has to what they will decide. We turn to Adam Lashinsky of Business Insider about Holmes’ possible fate. A survey’s data shows that most people aren’t expecting a better personal financial situation for themselves in 2022. Lindsey Piegza of Stifel Financial talks to us about the markets as Wall Street shook off three straight days of losses.

A record number of workers have been leaving their jobs either voluntarily or for new jobs offering better money or hours. In many cases, it’s been for whole new careers. The restaurant industry has been one of the hardest hit. Lindsey Piegza joins us to discuss how there’s been a drop in the buying of durable goods such as factory machines and home washers and dryers. Appliances are actually becoming harder to get for home builders. Google’s parent company Alphabet is having a good year, reporting its third straight quarter of record profit. 

A record number of workers have been leaving their jobs either voluntarily or for new jobs offering better money or hours. In many cases, it’s been for whole new careers. The restaurant industry has been one of the hardest hit. Lindsey Piegza joins us to discuss how there’s been a drop in the buying of durable goods such as factory machines and home washers and dryers. Appliances are actually becoming harder to get for home builders. Google’s parent company Alphabet is having a good year, reporting its third straight quarter of record profit. 

Lindsey Piegza, Chief Economist for Stifel Financial, talks jobs and the economy. Dan Ives, Managing Director, Equity Research at Wedbush Securities, talks Tesla. Bill Smead, CIO of Smead Capital Management, discusses the markets. Omar Aguilar, CIO, Head of Investments at Schwab Asset Management, discusses their behavioral finance study. Hosted by Paul Sweeney and Kailey Leinz. See omnystudio.com/listener for privacy information.

The Pandora Papers are the 12 million leaked documents that show how wealthy people of all types move their money. One focus is on South Dakota, which serves as a kind of neutral place to where a lot of those people have parked their money, and there are questions as to where that money actually comes from. Also today, Lindsey Piegza joins us to discuss high oil prices and the big jobs report coming out on Friday. You can also add warehouse space to the list of shortages as the holiday season approaches for retailers who are stocking up.

The Pandora Papers are the 12 million leaked documents that show how wealthy people of all types move their money. One focus is on South Dakota, which serves as a kind of neutral place to where a lot of those people have parked their money, and there are questions as to where that money actually comes from. Also today, Lindsey Piegza joins us to discuss high oil prices and the big jobs report coming out on Friday. You can also add warehouse space to the list of shortages as the holiday season approaches for retailers who are stocking up.

Jacob J. Lew, Former U.S. Treasury Secretary, says it's extremely dangerous not to support a debt limit. Nicolai Tangen, Norweigen Sovereign Wealth Fund CEO, says the size of the world's biggest sovereign fund makes it difficult to dodge inflation. Lindsey Piegza, Stifel Chief Economist, says the U.S. Consumer is on relatively solid footing despite the decline in retail sales. Jim Bianco, Bianco Research President, says the best Federal Reserve officials to listen to are the ones that have recently left. David Rubenstein, The Carlyle Group Co-Founder and Host of The David Rubenstein Show, Peer-to-Peer Conversations, discusses his interview with Moderna Co-Founder and Chairman Noubar Afeyan. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jacob J. Lew, Former U.S. Treasury Secretary, says it's extremely dangerous not to support a debt limit. Nicolai Tangen, Norweigen Sovereign Wealth Fund CEO, says the size of the world's biggest sovereign fund makes it difficult to dodge inflation. Lindsey Piegza, Stifel Chief Economist, says the U.S. Consumer is on relatively solid footing despite the decline in retail sales. Jim Bianco, Bianco Research President, says the best Federal Reserve officials to listen to are the ones that have recently left. David Rubenstein, The Carlyle Group Co-Founder and Host of The David Rubenstein Show, Peer-to-Peer Conversations, discusses his interview with Moderna Co-Founder and Chairman Noubar Afeyan. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Lindsey Piegza, Chief Economist at Stifel Financial discusses latest U.S. jobs report and the outlook for the U.S. economy. Bloomberg News U.S. Economy Reporter Reade Pickert on delta impact increasingly threatens some parts of U.S. economy. Bloomberg Businessweek Editor Joel Weber with an overview of the current issue of Businessweek Magazine. Dr. Ian Lustbader, Clinical Professor of Medicine at NYU Langone, with a virus, vaccines and variants update. Bloomberg News Finance Reporter Katherine Chiglinsky previews Berkshire Hathaway earnings. And we Drive to the Close with Ryan Detrick, Senior Market Strategist at LPL Financial. Hosted by Tim Stenovec and Paul Sweeney Producer: Paul Brennan Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Lindsey Piegza, Chief Economist at Stifel Financial discusses latest U.S. jobs report and the outlook for the U.S. economy. Bloomberg News U.S. Economy Reporter Reade Pickert on delta impact increasingly threatens some parts of U.S. economy. Bloomberg Businessweek Editor Joel Weber with an overview of the current issue of Businessweek Magazine. Dr. Ian Lustbader, Clinical Professor of Medicine at NYU Langone, with a virus, vaccines and variants update. Bloomberg News Finance Reporter Katherine Chiglinsky previews Berkshire Hathaway earnings. And we Drive to the Close with Ryan Detrick, Senior Market Strategist at LPL Financial. Hosted by Tim Stenovec and Paul Sweeney Producer: Paul Brennan Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Months of negotiations have led to the California Child Care Providers union securing its first labor contract with the state. Next year, more than 40,000 family child care providers will see a raise in wages. We also discuss the markets with Lindsey Piegza of Stifel Financial. The self-storage industry is running out of space amid a wave of increased demand.

Months of negotiations have led to the California Child Care Providers union securing its first labor contract with the state. Next year, more than 40,000 family child care providers will see a raise in wages. We also discuss the markets with Lindsey Piegza of Stifel Financial. The self-storage industry is running out of space amid a wave of increased demand.

California regulations have farms lower their greenhouse gas emissions, which has led to new tech that helps siphon off methane gas (which comes from cow manure) from the state’s dairies. Also today, we report on how many Americans don’t have emergency savings. We also talk to Lindsey Piegza of Stifel International about stimulus money coming to households with children.

California regulations have farms lower their greenhouse gas emissions, which has led to new tech that helps siphon off methane gas (which comes from cow manure) from the state’s dairies. Also today, we report on how many Americans don’t have emergency savings. We also talk to Lindsey Piegza of Stifel International about stimulus money coming to households with children.

Lindsey Piegza, Chief Economist at Stifel, discusses the Fed decision. Ian Balina, Founder and CEO of Token Metrics, discusses the cryptocurrency space. Michael Mayo, Senior Banking Analyst for Wells Fargo Securities, discusses the Fed decision and what it means for banks. David Dietze, Managing Principal, Senior Portfolio Strategist for Peapack Private Wealth Management, talks markets and the Fed. Hosted by Paul Sweeney and Matt Miller.

Federal Reserve officials strengthened their assessment of the economy and signaled that risks have diminished while leaving their policy interest rate near zero and maintaining a $120 billion monthly pace of asset purchases. Covering the news and providing analysis are Bloomberg News Global Economics and Policy Editor Kathleen Hays, Bloomberg Stocks Editor Dave Wilson, Lindsey Piegza, Chief Economist at Stifel Financial, Bloomberg Intelligence Chief U.S. Interest Rate Strategist Ira Jersey, Steven Skancke, Chief Economic Advisor at Keel Point, and Bloomberg Economics Chief U.S. Economist Carl Riccadonna JJ Kinahan, Chief Market Strategist at TD Ameritrade. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.

Federal Reserve officials strengthened their assessment of the economy and signaled that risks have diminished while leaving their policy interest rate near zero and maintaining a $120 billion monthly pace of asset purchases. Covering the news and providing analysis are Bloomberg News Global Economics and Policy Editor Kathleen Hays, Bloomberg Stocks Editor Dave Wilson, Lindsey Piegza, Chief Economist at Stifel Financial, Bloomberg Intelligence Chief U.S. Interest Rate Strategist Ira Jersey, Steven Skancke, Chief Economic Advisor at Keel Point, and Bloomberg Economics Chief U.S. Economist Carl Riccadonna JJ Kinahan, Chief Market Strategist at TD Ameritrade. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Kit Juckes, Societe Generale Chief FX Strategist, sees a V-shaped economic recovery. Kathy Jones, Schwab Center for Financial Research Chief Fixed Income Strategist, warns of a turbulent year ahead. Lindsey Piegza, Stifel Chief Economist, discusses the delicate balance facing policymakers in the Covid-19 era. Steve Sadove, Former Saks CEO and Mastercard Senior Advisor, says holiday retail sales show a healthy consumer environment. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

James Athey, Aberdeen Standard Investments Senior Investment Manager, says FX has been been a good diversifier and hedge ahead of the U.S. election. Daniel Ives, Wedbush Senior Equity Research Analyst, explains why he remains bullish on tech. Lindsey Piegza, Stifel Chief Economist, says consumers are looking at the prospect of a resurgence of coronavirus and are deploying wealth into savings rather than spending. Rob Falzon, Prudential Financial Vice Chair, says many companies are extending out the time they believe employees will be in a remote environment, where productivity has held up well. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Dr. Eric Toner, Senior Scholar at the Johns Hopkins Bloomberg School of Public Health, provides a coronavirus and vaccine update. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Health Care Reporter Robert Langreth discuss the story “One Week at the White House Was America's Pandemic in Microcosm.” We get Businessweek Economics with Lindsey Piegza, Chief Economist at Stifel Financial. Bloomberg News Finance Reporter Sridhar Natarajan shares details on Morgan Stanley buying Eaton Vance for about $7 billion. And we Drive to the Close with George Bory, Head of Fixed Income at Wells Fargo Asset Management. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Paul Donovan, UBS Global Chief Economist, says markets are too pessimistic about recovery from a crisis. Lindsey Piegza, Stifel Chief Economist, sees economy improving, but investors shouldn't get complacent. Robert Profusek, Jones Day Head of M&A, discusses the resurgence in global dealmaking. New York City Comptroller Scott Stringer says wealthy residents should be prepared to “step up and help” close a $4.2 billion deficit by paying higher taxes. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Dr. Andy Pekosz, Professor of Molecular Microbiology and Immunology at the Johns Hopkins University Bloomberg School of Public Health, provides a coronavirus and vaccine update. Bloomberg News Reporter Thomas Buckley discusses health-care avengers fighting anti-vaxxers one viral clip at a time. We get Businessweek Economics with Lindsey Piegza, Chief Economist at Stifel Financial. She walks through jobless claims and expectations for an economic recovery. Bloomberg News Wall Street Reporter Sonali Basak says the age of the “everything banker is here,” and that “odd jobs” are on the horizon. And we Drive to the Close with Alan Zafran, Co-CEO at IEQ Capital. Host: Carol Massar and guest co-host Alix Steel. Producer: Doni Holloway.   Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

The Federal Reserve put a floor under its large-scale asset purchases and projected interest rates will remain near zero through at least 2022 as policy makers seek to speed the economy's recovery from the coronavirus recession. To discuss the news and break down Fed Chair Jay Powell's press conference are Bloomberg News Global Economics and Policy Editor Kathleen Hays, Frances Donald, Global Chief Economist at Manulife Investment Management, Lewis Alexander, Chief US Economist at Nomura, Bloomberg Intelligence Chief U.S. Interest Rate Strategist Ira Jersey, Lindsey Piegza, Chief Economist at Stifel Financial and Shawn Cruz, Manager of Trader Strategy at TD Ameritrade. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

U.S. stocks extended losses back as a full-blown oil price war rattled financial markets already on edge over the spreading coronavirus. Joining to discuss are Ellen Wald, President of Transversal Consulting, Lindsey Piegza, Chief Economist at Stifel Financial, Bloomberg Businessweek Editor Joel Weber, Bloomberg Markets Live Blog Senior Editor Mike Regan, Bloomberg Businessweek Economics Editor Peter Coy, Robert Shiller, Sterling Professor of Economics at Yale University, and Bloomberg New Economy Editorial Director Andy Browne. We Drive to the Close with Hilary Kramer, President and CIO at A&G Capital. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Steve Eisman, Eisman Group Neuberger Berman Senior Portfolio Manager, discusses the companies he is currently shorting. Doug Kass, Seabreeze Partners President, talks about parabolic moves, like the one in Tesla, reminding they almost always return to the point of breakout; also Kass explains why he thinks shares of Amazon will trade $5000 a share by 2023. John Hudak, Brookings Senior Fellow Governance Studies, hopes this is the end of the Iowa caucuses. Francisco Blanch, Bank of America Head of Global Commodities & Derivatives Research, says that the Fed cutting rates has created a huge tailwind for risk assets and commodities. Lindsey Piegza, Stifel Chief Economist, says moderate growth is the new normal for 2020. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Lindsey Piegza, Chief Economist at Stifel Financial, discusses the jobs report and eco outlook. Eric Lindberg, CEO of Grocery Outlet, discusses cutting through retail distractions to attract customers. Bloomberg Businessweek Editor Joel Weber, Bloomberg News Projects & Investigations Reporter Esmé Deprez and Bloomberg News Finance Reporter Noah Buhayar walk through an Idaho lawsuit that's forced cities to change how they treat the homeless. Regan McGee, CEO of Nobul, breaks down Canada's burgeoning innovation scene. Bloomberg Stocks Editor Dave Wilson discusses his Chart of the Day: S&P 500 energy stocks are at risk for a third straight annual loss, which would be a first since the 1990s. Bloomberg News Wall Street Reporter Sonali Basak shares her insight on key questions facing Deutsche Bank's CEO. And we Drive to the Close with Brent Schutte, Chief Investment Strategist at Northwestern Mutual Wealth Management. Hosts: Carol Massar and Jason Kelly. Producer: Doni Holloway. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Joni Youngwirth, Managing Principal of Practice Management at Commonwealth Financial Network, discusses planning for a mindful retirement. Lindsey Piegza, Chief Economist at Stifel Financial, shares her thoughts on what she sees as a “disappointing” September jobs report. Trap Kloman, President and COO at Commonwealth Financial Network, talks about the evolution of the financial adviser industry. Jeff Grabow, U.S. Venture Capital Leader at Ernst & Young, discusses “record territory” for VC investing. University of Colorado at Boulder Associate Dean Richard Wobbekind breaks down the Denver economy. Jason Wheeler, CEO at Pathfinder Wealth Consulting, shares his thoughts on succession planning. And we Drive to the Close with Vance Barse, Wealth Strategist with Your Dedicated Fiduciary.  Hosts: Carol Massar and Jason Kelly. Producer: Paul Brennan.    Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Rob Carolan, Bloomberg Meteorologist, brings us an update on Hurricane Dorian. Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, says retail sentiment is quite bearish. Dan Ahn, Former U.S. Department of State Chief Economist, doesn't think that weakness appearing in both the U.S. & world economy is driven solely by trade tensions. Lindsey Piegza, Stifel Chief Economist, explores why global manufacturing has fallen into a slump and how it will impact global growth. And Krishna Memani, Invesco Vice Chairman of Investments, says valuations in EM are extraordinarily attractive.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Lindsey Piegza, Stifel Chief Economist, says the Fed is optimistic in terms of growth and inflation. Jordan Rochester, Nomura G-10 FX Strategist, discusses the grim outlook for the British Pound in the case of a no-deal Brexit. Jennifer Hillman, CFR Senior Fellow for Trade & International Political Economy and Former Commissioner at the U.S. International Trade Commission, thinks it will be extremely hard for the U.S. & China to reach a trade deal this week. And Jennifer Bartashus, Bloomberg Intelligence Analyst for Food Retail, says Beyond Meat's partnerships are keeping their momentum alive.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carl Weinberg, High Frequency Economics Chief Economist & Founder, says the industrial recession in Europe is ongoing with "no clear end in sight." Bob Profusek, Jones Day Global Chair of M&A, talks potential takeovers in the second half and what he's watching. Lindsey Piegza, Stifel Chief Economist, says durable goods and inventories are important market economic data points. And Daniel Ives, Wedbush Securities Analyst, explains how forthcoming trade talks between the U.S. and China will impact Apple's shares and production. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

We kick off with a segment from our Bloomberg TV show with Bloomberg's Joe Weisenthal and Nordea Asset Management's Sebastian Galy. They weigh in on Facebook's new Libra cryptocurrency. Adam Posen, Peterson Institute President, says ECB policy is not targeted at the U.S. dollar. General Stanley McChrystal, Former Commander of U.S. and International Forces in Afghanistan, says "leadership requires character." Lindsey Piegza, Stifel Chief Economist, says today's U.S. housing starts paint a negative picture for the second quarter. And Gary Shilling, Bloomberg Opinion Columnist, says the Fed does not want to go negative on rates.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carl Weinberg, High Frequency Economics Chief Economist, doesn't expect any agreement between the U.S. and China. Jacob Kirkegaard Peterson Institute for International Economics Senior Fellow, thinks a second Brexit referendum is "on the table." Lindsey Piegza, Stifel Chief Economist, says consumer spending is not matching consumer confidence. Brian Kelly, The Points Guy, shares tips for finding cheap flights to Europe. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Jose Rasco, HSBC Chief Investment Strategist at HSBC Private Bank Americas, expects the Fed to remain on hold this year. Jan Hatzius, Goldman Sachs Chief Economist & Head of Global Economics and Markets Research, doesn't think inflation is dead. Dan Tannebaum, PwC United States Principal and Global Sanctions Leader, thinks it's unlikely that Iran closes the Strait of Hormuz. Lindsey Piegza, Stifel Chief Economist, predicts negative economic growth in 2020.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Lindsey Piegza, Chief Economist at Stifel Financial, and Steve Blitz, Chief U.S. Economist at TS Lombard, break down better-than-expected hiring in March and unemployment hovering near a five-decade low, and what all that means for the economy. Bill Ready, Chief Operating Officer at PayPal, discusses “Checkout on Instagram”, which enables ecommerce buyers and sellers to connect directly on Instagram and pay for purchases with PayPal. Bloomberg News Bond Reporter Alex Harris andBloomberg Economics Chief U.S. Economist Carl Riccadonna talk out the jobs report and Fed policy. Sheryl Palmer, CEO at Taylor Morrison Home, shares housing data, including single women buyers outnumbering single men two to one. And we Drive to the Close with Aaron Kennon, Chief Executive Officer at Clear Harbor Asset Management.Hosts: Jason Kelly and Vincent Cignarella.  Producer: Paul Brennan  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Henrietta Treyz, Veda Partners Director of Economic Policy, says although the business community want tariffs to end, D.C. politicians are comfortable with them. Ira Jersey, Bloomberg Chief U.S. Interest Rates Strategist, and Jeanna Smialek, Bloomberg Economy Reporter, highlight the Fed's cautiousness. Lindsey Piegza, Stifel Chief Economist, thinks the economy is shifting gears but it's at a very early stage. Francine Lacqua, Bloomberg Surveillance Anchor, updates us on Brexit talks from Brussels at the European Leaders Summit.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Dave McKay, RBC President & CEO, says the company is open to "tactical" acquisitions. Howard Ward, Gabelli Funds CIO of Growth Equities, believes that orders of the Boeing 737 MAX 8 will remain intact.  Lindsey Piegza, Stifel Chief Economist, says wage growth came too little and too late. Christopher Jasper, Bloomberg European Transportation Deputy Team Leader, explains the differences between the Boeing 737 MAX 8 and previous models. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Alan Ruskin, Deutsche Bank Global Co-Head of FX Strategy, advises to be careful about the noise around headline CPI.  Ian Whittaker, Liberum Head of European Media Research, analyzes the AT&T-Time Warner deal approval. Lindsey Piegza, Stifel Chief Economist, says we could be talking about an inverted yield curve by the end of the year. Eli Lake, Bloomberg Opinion Columnist, thinks Kim Jong Un is a monster.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Carol is joined by Bloomberg's New York Bureau Chief Jason Kelly and they speak to Lindsey Piegza, Chief Economist at Stifel Financial, on Federal Reserve officials saying the economic outlook warranted another interest-rate hike “soon.” Damian Sassower, Bloomberg Intelligence Fixed-Income Strategist, discusses Turkey's lira slumping to a new record as hopes faded that the central bank may step in to rescue the battered currency. Cal Turner Jr., Former CEO at Dollar General, shares stories from his book "My Father's Business.” Eric Newcomer, Bloomberg News Startup Reporter, explains how Silicon Valley wants to tax big tech the way Seattle has. And we Drive to the Close with Gene Goldman, Chief Investment Officer at Cetera Financial Group.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Alan Ruskin, Deutsche Bank Global Co-Head of G-10 FX Strategy, says to not get too obsessed with the Fed funds rate. Angelo Zino, CFRA Analyst, says iPhones are no longer the only story for Apple.Lindsey Piegza, Stifel Financial Chief Economist, says inflation has not shown strong, upward momentum. Dennis Gartman, The Gartman Letter Publisher, says the Fed has already won its battle with 2% inflation.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Robin Niblett, Chatham House Director, says we're moving to a stage where America's traditional allies cannot count on America to have their back. David Page, AXA Investment Managers Senior Economist, questions the sustainability of the growth that resulted from U.S. tax reform. Lindsey Piegza, Stifel Chief Economist, says she's still looking for something below 3% GDP growth in the fourth quarter. Niall Ferguson, Harvard University Professor, says the Chinese have evolved a completely different relationship between giant tech and government and it's going to be fascinating to see how the two co-exist.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Robert Profusek, partner and chair of global M&A at law firm Jones Day, says he doesn't know whether Amazon's decision to acquire Whole Foods is about retail, tech, grocery or activism. Prior to that, Libby Cantrill, PIMCO's executive vice president, says Washington has become both political and personal. State Street Global Advisors' Kheng Siang Ng says the BOJ isn't ready to act yet. Donald Marron, the Urban Institute's director of economic policy initiatives, says reconciliation must be in place before a partisan tax reform can happen. Finally, Lindsey Piegza, Stifel Nicolaus' chief economist, says momentum in housing is declining. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

U.S. Commerce Secretary Wilbur Ross says he's still studying a border adjustment tax and hasn't yet taken a position on it. Prior to that, Kate Moore, BlackRock's chief equity strategist, says low volatility doesn't indicate complacency -- instead, it suggests paralysis and confusion. Finally, Lindsey Piegza, Stifel Nicolaus' chief economist, says it's clear underemployment is significant when looking at wages. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Brad Hintz, professor of finance at New York University, said London will remain the financial center post-Brexit. Lindsey Piegza, chief economist at Stifel Nicolaus, said there is no sense of immediacy to raise rates at this point. Matthew Mish, credit strategist at UBS, said foreign clients are increasingly looking at the U.S. high-grade, longer-duration credit markets. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com