The latest in finance, economics and investment. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene &amp; Paul SweeneyThursday, June 25, 2026 Featuring: 1) Rob Sockin, Chief US Economist at PGIM Credit, Andrew Szczurowski, Senior Fixed Income Portfolio Manager at Morgan Stanley Investment Management, and Marija Veitmane, Managing Director, react to PCE. 2) Sebastien Page, Head: Global Multi-Asset and Chair of the Asset Allocation Steering Committee at T. Rowe Price, talks about his inflation and economic outlook. 3) Suki Cooper, Global Head: Commodities Research at Standard Chartered Bank, joins to talk gold, metals, and her commodities outlook. 4) Lee Roberts, Chancellor at UNC-Chapel Hill, joins for an extended discussion on higher education, funding, and recruiting students in the age of AI.Eric Mollo See omnystudio.com/listener for privacy information.

PCE Reaction and US Eco Outlook

Bloomberg Surveillance

# Full Transcript

**Podcast:** Bloomberg Surveillance

## Transcript

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[SPEAKER_B] Your Quick Brief with Rob Sockin and PGIM here. I just— as a general statement, what are you going to look at within the wall of data here in 4 minutes? What matters to you?

[SPEAKER_G] Well, I think the key is on the activity side, things are holding up well. So I think we're going to get jobless claims. Those will look good. I think on the spending side, you're seeing the consumer show some signs of strain but holding in pretty well. So it really comes down to the inflation numbers. We're looking for 0.35% month over month core PCE, 3.4% year over year. Looking at the details will be important, what's driving that. But that's the real story.

[SPEAKER_B] In 6 months, are we peaking? As Paul keeps saying, are we peaking here in inflation?

[SPEAKER_G] I think at the end of the year we're closer to 3% on core PCE. So you're going to get some gradual disinflation in the back half. But, you know, to me, the risks are heavily skewed to the upside on inflation. All the leading indicators I look at for consumer inflation, things like the Producer Price I...

PCE Reaction and US Eco Outlook

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

PCE Reaction and US Eco Outlook

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.