Bloomberg Surveillance Bloomberg Surveillance TV: March 3rd, 2026
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Mar 3, 2026 
Ryan Petersen, founder of Flexport and supply-chain expert, explains shipping snarls, rerouting and rising freight costs. Mastin Roberson, retired USMC Major General and defense analyst, breaks down military aims, decentralized risks and drone-defense challenges. Torsten Slok, Apollo’s chief economist, outlines stagflationary shock risks, regional policy divergence and inflation upside from economic tailwinds.
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Stagflation Risk From Middle East Shock
- Torsten Slok warns the Middle East shock is stagflationary: prices rise while GDP risks falling if the shock persists.
- He compares it to the trade war and Ukraine shocks and stresses the Fed's dilemma between inflation and labor market risks.
Europe Faces Larger Energy And Policy Shock
- Slok highlights Europe is more exposed because it depends more on energy imports, so inflation and rate moves hit harder there.
- He says ECB and Bank of England must be more hawkish because their mandates focus chiefly on inflation.
U.S. Tailwinds Could Push Inflation Higher
- Slok lists three U.S. tailwinds: AI spending, an industrial renaissance, and a fiscal boost from the one big bill worth ~0.9% GDP.
- He warns these tailwinds could amplify upside inflation pressure when paired with oil price shocks.