Steve Rattner - Latest News and Information
Technology Pulse
EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
EMAIL DIGESTS
Daily
Every morning
Weekly
Tuesday recap
Chairman of Willett Advisors (Bloomberg family office CIO); posts timely macro/institutional capital flow charts and commentary relevant to allocators and hedge fund positioning.
The only way to stop an economic spiral is for Trump to end the war and for Iran to open the Strait of Hormuz. The longer he delays, the longer Americans will struggle with higher oil—and gas—prices. @morningjoe
Markets were expecting two to three rate cuts from the Fed this year until Trump’s War in Iran began to wreak financial havoc. With inflation picking up, it looks like we might not get any rate cuts at all this...
The Iran war has disrupted a greater share of oil supplies than any previous shock. And this time, there is virtually no spare capacity available to make up the gap. @wsj
Rising inflation and gas prices aren’t the only economic challenges arising from the Iran war. Mortgage rates have risen 4 weeks in a row since Trump started the conflict; the average 30-year rate is now 6.38%. @wsj
Trump bragged that his tariffs are making so much money, he will be able to send stimulus checks to every American. The truth: tariff revenue is a drop in the bucket in reducing the federal deficit. Source: Peterson Institute
U.S. consumers will be among the hardest hit by Trump’s tariff policies & the Iran war. The OECD raised its U.S. inflation estimation for this year to 4.2% — an increase of 1.2 percentage points, the 4th largest uptick among all...
Oil shocks don’t just drive up inflation. They also increase unemployment. In the context of an already weak labor market, GS estimates the Iran oil shock will increase the unemployment rate by 20-40 basis points by the end of the year. Source:...
Trump was elected on promises to help working Americans catch up. His policies are having the opposite effect. Together, his tariffs and “One Big Beautiful Bill” will decrease incomes for the poorest Americans and disproportionately benefit the highest earners. Source: Tax...
Trump’s war in Iran is putting extreme pressure on global oil supplies, driving up crude prices that now may stay higher for longer. My @morningjoe Chart
Rising gas prices caused by the war are already hurting Americans’ bottom line — in both expensive and affordable states. On average, Americans are paying almost $1 more per gallon than they were last month. My @morningjoe e Chart
Despite investors’ previous hopes for rate cuts, Trump’s war has worsened the Fed outlook — with markets now not expecting further cuts this year (or next). My @morningjoe Chart
