Latest news with #ClaudiaSahm
Bloomberg
3 hours ago
- Business
- Bloomberg
Bloomberg Surveillance TV: July 21st, 2025
- Chris Harvey, Head: Equity Strategy at Wells Fargo - Angelo Zino, Head: Technology at CFRA - Charles Myers, Chairman and founder at Signum Global Advisors - Claudia Sahm, Chief Economist at New Century Advisors Chris Harvey, Head: Equity Strategy at Wells Fargo, talks about market bullishness and whether his S&P target could change should the president fire Fed Chair Jay Powell. Angelo Zino, Head: Technology at CFRA, joins to discuss Big Tech's AI investment and talent poaching as well as the outlook for the broader tech sector. Charles Myers, Chairman and founder at Signum Global Advisors, discusses Fed independence and how a less independent Fed could reshape markets. Claudia Sahm, Chief Economist at New Century Advisors, on US labor and inflation as well as Jay Powell's future as Fed Chair.
Bloomberg
03-07-2025
- Business
- Bloomberg
US House Passage of Tax Bill
Bloomberg Television brings you the latest news and analysis leading up to the final minutes and seconds before and after the closing bell on Wall Street. Today's guests are Claudia Sahm New Century Advisors, Kevin Gordon Charles Schwab, Patrick De Haan Gasbuddy, Kathy Entwistle Morgan Stanley, Liz Ann Sonders, Charles Schwab, Debbie Dyson Oneten, Michael Balboni NY Former Director of Homeland Security, Brian Kelly The Points Guy, and Scott Bessent US Treasury Secretary. (Source: Bloomberg)
Bloomberg
03-07-2025
- Business
- Bloomberg
Bloomberg Surveillance: Jobs and Tax Bill
Watch Tom and Paul LIVE every day on YouTube: Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney July 3rd, 2025 Featuring: 1) Claudia Sahm, Chief Economist at New Century Advisors, brings us into the June jobs report and talks about the health of the labor market. Sarah Wolfe, Senior Economist and Strategist, Thematic & Macro Investing at Morgan Stanley and Kristina Campmany, Senior Portfolio Manager at Invesco, also offer their analysis of the jobs numbers. 2) Patrick McHenry, former House Speaker pro tempore and current Advisory Board Member BGR, joins to discuss President Trump's tax bill debate in the House. Despite Republicans controlling both the US House and Senate, Trump's signature legislation ran into resistance from cost-conscious conservatives as well as swing-district moderates, who worry the measure cuts too deeply into Medicaid and other safety-net programs. 3) Wendy Schiller, professor at Brown University, on President Trump aiming to push through his economic agenda early in his second term. President Trump repeatedly blasted Republican lawmakers resisting the legislation as 'grandstanders' and threatened to oppose reelection of members who block his agenda. 4) Rebecca Patterson, former Chief Investment Strategist at Bridgewater, reacts to the jobs report and markets. Investors are also closely tracking the US fiscal situation as President Trump aims to implement his economic agenda. 5) Yelena Shulyateva, Economist at the Conference Board, on JOLTS, June Jobs report, ADP, and the US economy. Concerns about mounting US deficits and the detail of Trump's bill may weigh stronger on bond investors' minds than the jobs report according to some market commentators.
Bloomberg
03-07-2025
- Business
- Bloomberg
Sahm: Jobs Report Makes it Difficult for Fed to Cut Rates
US job growth exceeded expectations in June for a fourth straight month and the unemployment rate fell, showcasing a labor market that is holding up despite a slowing economy. Payrolls increased 147,000 last month, driven by a jump in state and local government employment, according to a Bureau of Labor Statistics report out Thursday, a day early because of the Independence Day holiday. The unemployment rate fell to 4.1%. Private payrolls rose just 74,000 in June, the least since October and largely due to health care. Claudia Sahm, chief economist at New Century Advisors says this print combined with the inflation rate makes it unlikely the Fed will cut rates (Source: Bloomberg)
The Hill
18-06-2025
- Business
- The Hill
Fed predicts higher inflation, slower growth for US economy
The Federal Reserve downgraded its projections for U.S. economic performance this year, along with several primary economic indicators. The U.S. central bank sees lower economic growth, higher unemployment and higher prices amid major changes in U.S. trade policy and worsening geopolitical tensions. U.S. gross domestic product (GDP) growth for 2025 was pulled down to a prediction of 1.4 percent from 1.8 percent made in March. That's in line with a recent World Bank forecast, which also predicted growth for this year at 1.4 percent. GDP grew last year at a robust 2.8 percent. Unemployment will rise to 4.5 percent this year from its current level of 4.2 percent, Fed economists predicted Wednesday. Its previous prediction was for unemployment to average 4.4 percent this year. Prices, as measured by the personal consumption expenditures (PCE) price index, are expected to rise to an annual increase of 3 percent, compared to a 2.7-percent prediction made in March. Prices in the PCE are currently at a 2.1 percent annual increase while those in the consumer price index (CPI) are at a 2.4-percent annual increase. A jump to 3 percent would be a sizable gain. Price increases from tariffs have not shown up definitively in the price data so far, though CPI rose slightly between April and May. Import prices were unchanged in May. Prices for clothes, which are a heavily imported good, have fallen by about 1 percent since last year while margins in the sector have stayed flat. Economists say that this suggests that companies are eating the costs of tariffs in this sector. 'Steady margins also correspond roughly to declines in apparel import prices and consumer prices in recent months,' former Fed economist Claudia Sahm wrote in an analysis. 'Any extra costs of tariffs (not offset by the lower import prices) appear to be absorbed by businesses.' However, U.S. inventory levels take about three months to clear, and many economists are expecting price increases to show up in earnest over the summer. The Fed's boosted inflation projection adds heft to the expectation. Fed officials also said they will continue reducing their holdings of Treasuries and mortgage-backed securities. The Fed has been trimming its balance sheet since 2023. Assets stand now at $6.67 trillion, though its curve has been tapering in recent months. The U.S. M2 money supply, which includes savings deposits and small CDs, is at an all-time high of $21.8 trillion and rising.
