"Bloomberg ETF IQ" focuses on the opportunities, risks and current trends tied to the trillions of dollars in the global exchange traded funds industry. Today's guests: Anna Paglia, State Street Investment Management Executive VP/Chief Business Officer; Jeff Sherman, DoubleLine Deputy CIO. Chapters: 00:00:00 - ETF IQ Begins 00:00:53 - Go With The Flow: Stocks being bought, bonds being sold 00:02:15 - State Street's Anna Paglia discusses private credit ETF flows from SPY, QQQ and PRIV 00:08:35 - TF Brief loo ...

Fiscal Policy & Economic Impact - The legislation is viewed as a significant legislative achievement, but concerns exist regarding its potential to substantially increase budget deficits in the future [1] - The legislation is considered the largest cutback in the social safety net identified, occurring alongside potential reductions in spending on scientific research, arts, humanities, and foreign assistance programs [3] - Concerns are raised that the legislation compromises the nation's capacity to defend itself due to increased debt and negatively impacts its standing as a humane force in the world [4] - Bond market trends, particularly forward rates on regular bonds (well above 5%) and TIPS (well above 3%), are seen as potentially ominous indicators of the nation's medium-term credibility and ability to issue long-term debt [12] Tariffs & Inflation - Despite concerns about tariffs, CPI numbers have not yet indicated the inflation predicted by most economists [6] - The impact of tariffs on inflation may be delayed, with potential deflationary forces from artificial intelligence and technology possibly influencing the situation [7][8] - Studies during the president's first term indicated that tariffs translated into higher prices in affected sectors [9] Consumer & Small Business - Consumer spending grew by over 4% in the second quarter of 2024, supported by employment and wage growth [14] - Moderate-income households are showing some shifts in spending patterns, but overall discretionary spending remains consistent [15] - Small and medium-sized businesses face challenges due to the rising interest rate environment affecting their short-term borrowing costs [16] - Uncertainty surrounding trade and tariffs poses challenges for companies engaged in international trade, while the certainty provided by the tax rate is seen as a positive factor [17] Labor Market - Construction, farming, and travel/entertainment companies are expressing concerns about labor availability at any price [18] - Ensuring an adequate workforce is crucial for the continued growth of the service economy [19]

Meanwhile, our next guest thinks tensions between President Trump and Fed Chair Jerome Powell could reach a boiling point by the next interest rate decision scheduled for later this month. Ben Emmens is founder and chief investment officers at Fed Watch Adviserss. Ben, thank you for being with us.I mean, my goodness. Uh, I can't even remember what day it was this week, but it was a long day and a short day allin-one. We had we thought we knew one thing and then an hour and a half later we knew something dif ...

Federal Reserve & Political Influence - The report suggests that President Trump's continued pressure on the Fed Chair Jay Powell, including demands for lower interest rates, creates instability and undermines the Fed's independence [1] - Concerns are raised that any replacement for Jay Powell appointed by Trump may lack independence and be perceived as a political appointee [1] - The report highlights the risk that political interference could lead to foreign investors fleeing US dollar and US treasuries, potentially crashing the dollar and driving up interest rates [1] - The discussion includes the possibility of Trump firing Powell over alleged cost overruns in the Fed's DC headquarters renovations, which is seen as a pretext [1][2] Economic Impact & Monetary Policy - Lowering interest rates in a politicized environment could backfire, potentially stoking inflation and causing long-term interest rates to rise [1] - The report mentions that Kevin Warsh, a potential Fed chair candidate, has changed his stance on interest rates, raising questions about his qualifications [2] - The report indicates that retail sales are up by 061% [2] Elon Musk & Political Commentary - Elon Musk has been critical of President Trump, particularly regarding his alleged ties to Jeffrey Epstein [2][3] - Musk amplified reports and made mysterious comments about Trump's involvement, leading to increased scrutiny [2] - Grok received a $200 million contract with the Pentagon [2]

🚨 JUST IN: Fed's Waller calls for 25 basis point interest rate cut at the next FOMC meeting in two weeks. https://t.co/LVvBK4zs5P ...

if in fact President Trump uh gets his wish as is his right under law to appoint a new chair who will be more in line with his views. He said he thinks the interest rate really should be at 1% or even below that. Is that good for Bank of America. Is that good for the economy.Well, let me make two things. One is you're absolutely right. Uh in May of next year, the term of the current Fed chair ends after being reappointed.And you it's the right of the elected uh president to appoint the next uh successor and ...

Richmond Fed President Tom Barkin said that the central bank’s interest-rate-setting panel need not take direction from the chair https://t.co/456w7dMdVB ...

Jerome Powell. I I think he's doing a terrible job. I think we should be No. Uh I think we should be three points lower interest rate.He's costing our country a lot of money. We should be number one. And uh we're not.And that's because of Jerome Powell in terms of interest. ...

Federal Reserve Chair Jerome Powell said housing costs may not get more affordable, even after the central bank lowers its influential interest rate. https://t.co/zMGl6n27Li ...

The top rate on today's high-yield savings accounts is 5%. But this checking account pays just as much if you meet one straightforward requirement. https://t.co/eG5UlSj3gz ...