Bloomberg Intelligence’s Chief U.S. Economist Carl J. Riccadonna Speaks with Capital Market Laboratories - ‘there is immense slack in the economy.’

LOS ANGELES, June 30, 2021 (GLOBE NEWSWIRE) -- In a conversation with Capital Market Laboratories (CMLviz), Bloomberg Intelligence Chief U.S. Economist Carl J. Riccadonna had clear messages:

  1. While the ‘darkest days of COVID’ are far behind us, the jobs deficit right now is ‘not very different from where it was at the darkest moment of the 2008, 2009 recession.’

  2. The most critical data to examine either in support of or in opposition to a dovish view ‘without a doubt is going to be labor costs.’

  3. With regard to U.S. GDP growth, ‘we’re just cresting the hill and we’re going to see slower and slower growth’ although it will still be ‘well above trend’ with ‘very healthy’ economic growth.

In a conversation with the Chief U.S. economist, we discussed inflation, the outlook moving forward, and a broad array of data.

Read: Bloomberg Intelligence Chief U.S. Economist on Inflation Moving Forward

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Alicia Newman, Managing Director

Capital Market Laboratories