Landmark infrastructure legislation was passed in the last Congress. Now comes the work of getting it built.

The Global X U.S. infrastructure development ETF, ticker PAVE, invests in dozens of companies helping shape the future of American infrastructure.

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Bloomberg Audio Studios. Podcasts, radio, news.

This is the Bloomberg surveillance podcast.

I'm Jonathan Ferro, along with Lisa Abramwitz and Anne-Marie Hordern.

Join us each day for insight from the best in markets, economics and geopolitics.

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We begin this out with the S&P 500 coming off its biggest one day loss since August.

The Fed delivering a 25 basis point rate cut, but dying bad expectations for cuts next year.

Jim Bianco of Bianco research writing, cutting rates and leaving the door open to more is inviting higher inflation expectations.

...