In this episode of Macro Voices, Erik Townsend interviews economist David Rosenberg about the U.S. economic outlook, potential Fed policy errors, and inflation. Rosenberg expresses his belief that the Fed may cut rates more aggressively than currently anticipated, and that inflation will likely fall below target. He also discusses the bifurcated nature of the U.S. economy, with AI driving capital spending and the top 10% of consumers carrying the load. Rosenberg highlights the importance of the stock market in maintaining economic growth and expresses concerns about the cooling labor market. They also explore the potential impact of energy constraints on the AI boom and discuss investment strategies, including gold, silver, uranium, and Japanese yen. Patrick Ceresna then joins Erik to discuss the Macro Scoreboard, including the S&P 500, U.S. dollar index, crude oil, gasoline, gold, copper, uranium, and the 10-year Treasury yield, as well as to present the trade of the week. Erik closes the show with a discussion of the AI trend and its impact on the U.S. and China.
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