Bloomberg Surveillance Bloomberg Surveillance TV: March 25th, 2026
Mar 25, 2026
Dave McCormick, U.S. senator and former business executive and veteran, on diplomacy, military options, and energy stability. Ryan Petersen, founder and CEO of Flexport, on airfreight shocks, shipping disruptions, and tariff issues. Frances Donald, RBC chief economist, on stagflation risks, fiscal limits, and uneven global supply shocks. Multiple short takes on geopolitics, logistics, and macro risks.
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Middle East Shock Widens Domestic Divergence
- Donald stresses the shock is uneven: net exporters face price shocks, net importers face price-plus-supply shocks, worsening inequality.
- She notes lower-income Americans spend ~4% on gasoline vs under 2% for average, amplifying K-shaped divergence.
Jones Act Waiver Kept Anchorage Supplied
- Ryan Petersen recounts the White House waived the Jones Act to allow foreign ships to move jet fuel to California and Alaska.
- He emphasizes Anchorage's role as the U.S. cargo refueling hub and the waiver prevented potential air freight collapse.
Middle Eastern Carriers Removed Huge Air Cargo Capacity
- Petersen reports air freight capacity has fallen because Middle Eastern carriers operate ~18–20% of global cargo and have cut flights amid attacks.
- He says Asia–U.S. air freight prices have doubled at the conflict's start and are up ~25% across lanes.