Cool Video: Bloomberg Discussion of Opioid Epidemic and US Labor

by
Marc Chandler
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I had the distinct of honor of being on Bloomberg television today with David Gura and Francine Lacqua. Dino Kos, formerly of the NY Fed and now at CLS, joined this segment as well.

The broad topic was the Jackson Hole Symposium, and the challenge is fostering more dynamic growth. While short-term market participants are hoping for some clues into the Fed and ECB thinking, We are not convinced that our information set about next month’s ECB and FOMC meetings will be increased by today’s presentations.

At last month’s testimony before Congress, Yellen mentioned the opioid epidemic as factor that is influencing the participation rate and the vitality of the US work force. She has also discussed the importance of increasing women participation in the market economy to boost growth. In a note earlier this week (here), I suggested that it was possible that Yellen returned to these topics.

On this segment, Dino and I discussed why this is such an important issue, even though the chains of  causation and implications have not been fully mapped. Nevertheless, the significance of the issue is gradually being recognized.

About Marc Chandler

He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.

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