Surveillance: Trouble with U.S. Economy is Europe, Kudlow Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 4 October 2019
⏱️ 51 minutes
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Summary
Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says average hourly earnings is the most important number to pay attention to from the U.S. Employment Report because it provides insight about consumers' ability to drive consumption. Ellen Zentner, Morgan Stanley Chief U.S. Economist, says the Fed's dot plot can be confusing at times but is here to stay. Jeff Rosenberg, BlackRock Systematic Fixed Income Team Senior Portfolio Manager, says we are heading in the direction of slow employment growth. Tiffany Wilding, PIMCO U.S. Economist, says Friday's mixed jobs data coupled with disappointing ISM data suggests that the Federal Reserve will cut rates in October and could lead to more easing in December. Larry Kudlow, National Economic Council Director, says the real economic trouble for the United States is the collapse of the European economy, not the ongoing trade war with China.
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Transcript
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| 0:00.0 | Osage County, Oklahoma is getting a lot of attention right now. |
| 0:04.4 | It's the setting of Martin Scorsese's latest film, |
| 0:07.8 | Killers of the Flower Moon. |
| 0:10.0 | The movies based on a book about the 1920s Osage murders, |
| 0:14.1 | when white men poured into Osage County |
| 0:16.4 | and killed Osage people for their oil wealth. |
| 0:20.1 | I'm Rachel Adams Heard, the host of InTrust, a podcast from Bloomberg and I Heart Media. |
| 0:26.8 | For over a year I was reporting a different story about other ways white people got |
| 0:32.1 | Osage, land, land and wealth and how a prominent ranching family in Osage County became one of the biggest landowners here. |
| 0:40.0 | Their ranching empire was built on land that at the turn of the century was all owned by the Osage Nation. |
| 0:47.0 | So how did they get it? |
| 0:49.0 | Listen to the award-winning podcast, Trust on the I Heart Radio app Apple |
| 0:55.3 | Podcast or wherever you Bloomberg surveillance podcast. I'm Tom Keene. |
| 1:13.5 | Daily, we bring you insight from the best |
| 1:15.9 | in economics, finance, investment, |
| 1:18.1 | and international relations. |
| 1:19.8 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com and of course on |
| 1:26.2 | the Bloomberg. |
| 1:27.9 | So it is Payrolls Friday your estimates look like this in our Bloomberg survey. |
| 1:31.4 | The median estimate 145,000 from a previous |
| 1:35.2 | read in the previous month of 130,000. Pleased to say that joining us on the |
| 1:39.8 | phone to kick our coverage off Tom Porcelli, obviously capital markets, |
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