Speaker 1: Bloomberg Audio Studios, podcasts, radio news, single best idea on
Speaker 1: an extraordinary Thursday, David Gura emailed me, oh tennis last night.
Speaker 1: It was after the Detroit Tigers had won. I remember
Speaker 1: that clearly. But Gurra emailed me and he said, the
Speaker 1: newsflow is just extraordinary. And then when we were in
Speaker 1: the surveillance beauty rest it got more extraordinary. And we
Speaker 1: greeted Thursday, not even know where to begin, at seven am.
Speaker 1: Action out of China, the Swiss National Bank cutting interest
Speaker 1: rates to defend their currency from too much appreciation. News
Speaker 1: out of Germany as well, and just all that was
Speaker 1: going on, and it all centers back to the US
Speaker 1: economy with GDP statistics today with PC edamor and we'll
Speaker 1: have that coverage for We were fortunate to have Drew
Speaker 1: Matis with us, with met life, with decades of experience
Speaker 1: here somewhat cautious on a certitude of a soft landing,
Speaker 1: cautious on the path to lower inflation. And I did
Speaker 1: what I would have done with Maury Harrison Drew Mattis
Speaker 1: years ago at UBS. What's a single chart that matters.
Speaker 1: Here's Drew Mattis on the nexus of job openings with
Speaker 1: the unemployment rate.
Speaker 2: What I consider to be the most interesting chart right
Speaker 2: now is the linkage between the job openings, unemployment ratio,
Speaker 2: and where wages go six months from that time. And
Speaker 2: when I look at that, we're actually hitting a part
Speaker 2: of that curve. If you draw it and put all
Speaker 2: the little dots and then you draw your little curve there,
Speaker 2: we're on the part of the curve that's the steepest.
Speaker 2: And so a small change in that job opening is
Speaker 2: unemployment ratio, which is what we're seeing because unemployment's gone
Speaker 2: higher and job openings that come down means a pretty
Speaker 2: rapid deceleration in the rate of wage growth, and that
Speaker 2: should be good news for the FED. If there were
Speaker 2: about inflation, it does point to inflation going lower over time.
Speaker 2: That's why I'm not really worried about inflation in six months.
Speaker 2: But that doesn't mean inflation tomorrow. Couldn't be bad news
Speaker 2: for everybody.
Speaker 1: Drue Madis at MetLife the story on the Mayor of
Speaker 1: New York and of course is a movable story by
Speaker 1: the time you hear single best idea of this story
Speaker 1: could be changed in many different ways, but the mayor
Speaker 1: of New York City Mayor Adams indicted last night in
Speaker 1: an unseiling of the indictment expected on this Thursday. As well.
Speaker 1: We are so advantaged to have great Bloomberg News coverage,
Speaker 1: Patricia Hurtado, I would shout out to particularly on this
Speaker 1: read Bloomberg News for detailed coverage of this tension of
Speaker 1: a number of investigations. We are also advantage that Miles
Speaker 1: Miller is with us. He has served the Fire Department
Speaker 1: of New York in communications. He has done so much
Speaker 1: within local cover with NBC. Miles Miller are managing editor
Speaker 1: at Bloomberg Television. His perspective on Mayor Adam's future.
Speaker 3: Well, they've got to figure out who is their commander, right.
Speaker 3: Mayor Adams came in with a mandate that he was
Speaker 3: a general and he was leading his troops, and so
Speaker 3: they're wondering what does this mean about our commissioner, What
Speaker 3: does this mean about promotions? What does this mean for us?
Speaker 3: So city operations will continue, and there is obviously a
Speaker 3: lot of secession if he is to step down. But
Speaker 3: for the people that day to day people who work
Speaker 3: in city government, their worries are what does this mean
Speaker 3: for me? And will I continue to be work in
Speaker 3: the ways that like cops, can I continue to drive
Speaker 3: down crime? Will we still have the support of whomever
Speaker 3: is in office or you know, will we still have
Speaker 3: the support of the of the mayor if he's facing
Speaker 3: these charges.
Speaker 1: Miles Miller on the coverage of the indictment of Mayor
Speaker 1: Adams of New York City and exceptionally busy Thursday, Friday,
Speaker 1: no letup as well with important inflation statistics. We're out.
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