Bloomberg Surveillance Bloomberg Surveillance TV: October 23rd, 2025
21 snips
Oct 23, 2025 
Eric Rosengren, former Boston Fed President, analyzes the upcoming CPI report, predicting a persistent inflation rate around 3.1%. Sarah Bianchi, a former Treasury official, evaluates U.S. sanctions on Russia’s oil sector and their potential impact on U.S.-China trade discussions. Dan Ives champions Tesla's future despite recent profit declines, focusing on its AI and autonomous driving ventures. Thomas DiNapoli discusses strong Wall Street profits and critiques Musk's compensation package, emphasizing concerns over income inequality and board independence.
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Multiple Drivers Keep Inflation Elevated
- Rosengren says labour and food cost increases are meaningful sources of inflation policymakers must watch.
- He argues tariffs and fiscal policy also feed inflation and shouldn't be ignored.
Be Cautious With Rate Cuts
- Rosengren says a 25bp Fed cut could be understandable given labour softness but data quality complicates decisions.
- He advises caution because the CPI release may be noisier due to staffing and estimated inputs.
Data Quality Is Deteriorating
- Rosengren warns statistical agencies have cut survey work and closed offices, making data less reliable over time.
- He expects continued cuts to further degrade the quality of economic indicators.