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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: A single best idea is to understand that we do

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Speaker 2: not plan, we do have a plan. I'm death on meetings.

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Speaker 2: I detest meetings that usually slow everything down. And you

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Speaker 2: would not believe how the team that puts Bloomberg Surveillance

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Speaker 2: together every day really doesn't do much in meetings. It's

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Speaker 2: cryptic back and forth. Lots of it's on your iPhone,

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Speaker 2: you know, text messages in that, and you know there's

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Speaker 2: a lot of machinery like can you bring in Detroit

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Speaker 2: online two or London Online three. There's a lot of

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Speaker 2: physical stuff that goes on that I take for granted,

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Speaker 2: which I shouldn't. Today was nuts. There's just no other

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Speaker 2: way to put it. A major shout out to Matthew

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Speaker 2: Miller who went out to Detroit to the Auto show

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Speaker 2: and had a piercing interview with four Word and Red Bull.

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Speaker 2: Is they jump into F one that interview. I'm sure

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Speaker 2: we'll go worldwide with the interest in F one. Patient

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Speaker 2: around all that was dominic constum at missouo constumme of course,

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Speaker 2: legendary credit suitee and doing brilliant synthesis at sixty thousand

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Speaker 2: feet of your economic system here is dominic constem of missuo.

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Speaker 1: So basically, consumer spending in nominal terms fell well short

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Speaker 1: of its trend during the last year because of when

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Speaker 1: the towers hit, and now the consumers are kind of

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Speaker 1: getting that back. This is if you remember one of

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Speaker 1: the problems with sequencing the stimulus before. You know, you

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Speaker 1: kind of wanted it up front before the towers hit

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Speaker 1: and you didn't get it, So now you're getting it.

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Speaker 1: So that kind of in our view, avoids any kind

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Speaker 1: of recession or anything like that. So the economy is fine,

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Speaker 1: but I wouldn't say it's going to sort of meaningfully

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Speaker 1: accelerate in a way that will deliver job growth and

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Speaker 1: acceleration in the labor input to.

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Speaker 2: Growth dominic constum And really can't say enough about the

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Speaker 2: work at MISSOO Stephen Rashudo and Jordan Rochester as well

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Speaker 2: in the blur of all of our back and forth

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Speaker 2: with London and with Detroit, with Matt Miller and A

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Speaker 2: Wong stopped by. She's running US economics for all of Bloomberg.

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Speaker 2: She's been absolutely brilliant nationally, even globally acclaimed last year

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Speaker 2: for her study of the American economy. She touched on

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Speaker 2: AI here, but just Anna Wong with a view forward.

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Speaker 3: We thought that the bottom was somewhere in July and

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Speaker 3: August last year. However, even though things are slowly improving,

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Speaker 3: its still very fragile. I think, and AI is doing

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Speaker 3: more damage to the labor market than many people.

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Speaker 2: I can describe that in what way do you see

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Speaker 2: that in your research?

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Speaker 3: Yes, in earnings. So we are entering into an earning

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Speaker 3: season right now, and even in the last earnings we

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Speaker 3: are seeing in sectors which do not think AI is

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Speaker 3: making a splash, but it is happening, even in construction

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Speaker 3: utility sector. We just thought, you know, we know retail, we.

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Speaker 2: Know in tech.

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Speaker 3: They are replacing new hires in construction in.

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Speaker 2: July, in September into twenty twenty seven. Remember that moment

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Speaker 2: Bronze that Ana Wong onto something there. It's her guests,

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Speaker 2: it's her probability, it's not her hope. It's just like,

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Speaker 2: what do you think about AI, doctor Wong. There's a

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Speaker 2: lot percolating on this, but all my radars up about

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Speaker 2: this mystery of AI, and our corporate leaders will adapt

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Speaker 2: to it. After the fourth of July. In the next year,

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Speaker 2: new FED Chairman and all that watch to see the

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Speaker 2: synthesis of computer process and technology into the American labor economy.

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Speaker 2: We're out on podcasts on Apple and Spotify. On YouTube podcasts,

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Speaker 2: single best idea