This week, National Economic Council Director Kevin Hassett says AI’s productivity boost may be much larger than official economic data currently indicate. And, AI companies are largely in agreement that the technology needs guardrails, but the ethical implications of AI could also create new opportunities for liberal arts education. Plus, America is rebuilding a critical minerals supply chain after decades of Chinese dominance. Later, America’s shrinking college-age population is forcing universities to compete for fewer students.
(Source: Bloomberg)
Former CEA Chair Cecilia Rouse believes that we may be 'entering a new normal' of the jobs report, with the break even potentially settling in around 50,000. She speaks with Romaine Bostick on Bloomberg's "The Close." (Source: Bloomberg)
Morgan Stanley's Alex Straton sees Nike sales and earnings softening as the company deals with inventory gluts in North America and China. She speaks with Romaine Bostick on Bloomberg's "The Close." (Source: Bloomberg)
A FOIA request has uncovered another little-known feature of life at the top of the Justice Department: attorneys general have used alternate email addresses to conduct government business for over a decade. This time around, Bloomberg News Senior Investigative Reporter Jason Leopold obtained the alias used by former Attorney General Pam Bondi.
The discovery raises broader questions about government transparency and access to public records. Leopold explains how alternate email addresses can make FOIA searches more difficult when requesters don’t know which accounts officials used to conduct government business -- and how revealing those aliases can help journalists locate records that might otherwise be missed. He speaks with Bloomberg Businessweek Daily hosts Carol Massar and Alexis Christoforous. (Source: Bloomberg)
An index tracking emerging-market currencies climbed to a session high after weaker-than-expected US jobs data prompted traders to scale back bets on another Federal Reserve interest-rate hike this month. Nonfarm payrolls increased by 29,000 in September after downward revisions to the prior two months, according to Bureau of Labor Statistics data released Friday. The figure missed all estimates in a Bloomberg survey of economists. For more, we speak with Anisha Goodly, Fixed Income Managing Director at TCW. (Source: Bloomberg)
Chris Phelan CEA Chairman, sees inflation clearly easing and thinks it's doing so quickly enough. He speaks with Romaine Bostick on "The Close." (Source: Bloomberg)
The owners of almost 30 Lukoil PJSC filling stations in Pennsylvania and New Jersey can proceed with a lawsuit accusing the Russian oil giant of overcharging franchisees.
Robert Reich, former US Labor Secretary, discusses persistent inflation, very slow hiring, and wages that trail prices. He speaks with Romaine Bostick on Bloomberg's "The Close." (Source: Bloomberg)
Barry speaks with Omar Aguilar, CEO and CIO of Schwab Asset Management. They discuss his time at Financial Engines, where he worked under Nobel laureate William Sharpe before joining Schwab Asset Management in 2011. They discuss how his doctorate in decision sciences helps him build trust with clients and push them toward their goals. They also discuss how he built Schwab Asset Management to over a trillion dollars and how he is using his background to help navigate his clients through the current state of the markets. (Source: Bloomberg)
Wall Street has spent weeks trying to make peace with the great bond selloff. Friday offered some short-lived relief — along with a warning about the damage from stubbornly high yields across investment strategies of all stripes.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec. (Source: Bloomberg)
A Federal Aviation Administration review board says a software issue in certain Boeing 737 Max flight computers “is not a safety concern." Boeing shares rose on the news. George Ferguson of Bloomberg Intelligence has more. (Source: Bloomberg)
Robert Reich, former US secretary of labor and UC Berkeley public policy emeritus professor, says what worries him most about the US economy is stagflation. He talks about kitchen table economics heading into the election on "Bloomberg The Close." (Source: Bloomberg)
Bloomberg's Scarlet Fu and Tom Keene discuss their must-read book on this week's edition of "Bloomberg Money." They discuss 'A Fabulous Debt' by Robin Wigglesworth and 'These Are The Plunderers' Gretchen Morgenson.
(Source: Bloomberg)
As stocks rise and bond yields pull back ahead of the jobs report, Nadia Lovell of UBS says she remains bullish on equities, but believes the market’s next advance must be earned. She argues that markets are entering a new investment cycle after years of companies prioritizing financial efficiency through measures such as buybacks and lower capital spending. The shift now extends beyond AI to investment in power, supply chains, and defense, broadening corporate profit opportunities. If these investments deliver a productivity boost, Lovell says, they could support a healthier market and further gains over the longer term. (Source: Bloomberg)
Bloomberg's Julia Fanzeres joins Scarlet Fu an Tom Keene on "Bloomberg Money." The US added fewer jobs than expected in September and wage growth slowed, signaling some caution among employers amid rising costs.
(Source: Bloomberg)
Suzy Welch, professor of management practice at New York University, joins Scarlet Fu an Tom Keene on "Bloomberg Money." They discuss bad career advice and following your passions professionally. (Source: Bloomberg)
Suzy Welch, professor of management practice at New York University, joins Scarlet Fu an Tom Keene on "Bloomberg Money." They discuss Gen Z spending habits and how they don't postpone their joy.
(Source: Bloomberg)
