US importers are rushing goods into the nation's two busiest ports, pushing up ocean transport costs during the wait for more tariffs and an extended bout of economic uncertainty stemming from the Iran war. Gene Seroka, CEO of the Port of Los Angeles, discusses port labor, innovation, and supply shocks impacting trade with the US.
Nonfarm payrolls decreased 23,000 last month following a combined 103,000 downward revision to the May and June figures, Bureau of Labor Statistics data showed Friday. The unemployment rate fell to 4.1% as labor force participation continued to slide, and wage growth slowed. Claudia Sahm, Chief Economist at New Century Advisors and Constance Hunter, Chief Economist at EIU, react to July jobs data.
Tanger CEO Stephen Yalof says consumer spending has been strong amid the back-to-school shopping season. Speaking on "Bloomberg Open Interest," Yalof says the World Cup helped drive retail traffic and discusses the outlook for the holiday shopping season.
President Trump and Fed Chair Kevin Warsh talk about the economy "all the time," National Economic Council Director Kevin Hassett says on "Bloomberg Open Interest." Hassett says he's sure Trump is not telling Warsh what to do about interest rates.
White House National Economic Council Director Kevin Hassett says he's focused on the breakeven hiring rate in the July jobs report. Hassett also says President Donald Trump does talk to Federal Reserve Chair Kevin Warsh about the economy all the time, but Trump respects the Fed's independence. Hassett speaks on "Bloomberg Open Interest."
Rick Rieder, BlackRock's Chief Investment Officer of Global Fixed Income, discussed the Federal Reserve's monetary policy outlook, emphasizing that a rate hike currently does not make much sense given recent economic data.
Rick Rieder, CIO of global fixed income at BlackRock, reacts to the July US employment report, calling it "unremarkable," and says the economy is going through a "productivity revolution." Speaking on "Bloomberg Open Interest," Rieder also discusses the outlook for Federal Reserve monetary policy and how the company is currently investing in the fixed income market.
The cyclospora outbreak in the US tied to lettuce used in restaurants has made more than 10,000 people sick according to the Centers for Disease Control. This has caused fewer people to go out to eat or get fast food. Now this is starting to hurt the restaurant sector. R.J. Hottovy of Placer.AI research covers the space and joins "Bloomberg The Close."
Rick Rieder, CIO of global fixed income at BlackRock, discusses how the company is currently investing in the fixed income market on "Bloomberg The Open."
Rick Rieder, CIO of global fixed income at BlackRock, says the July US employment report most likely takes a Federal Reserve rate hike off the table. Speaking on "Bloomberg The Open," Rieder says a rate cut is still possible this year.
Rick Rieder, CIO of global fixed income at BlackRock, calls the July US employment report "unremarkable." Speaking on "Bloomberg The Open," Rieder says he expects 6% nominal GDP amid a "productivity revolution" in the US.
US employers unexpectedly cut jobs in July and hiring over the previous two months was revised lower. 23,000 jobs were lost, the estimate was for a gain of 80,000 jobs. The unemployment rate fell to 4.1% from 4.2%. Bloomberg's Michael McKee reports.
