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Warsh Makes Vow on Inflation, as Big Banks Report Earnings | Bloomberg Businessweek Daily 7/14/2026

Watch on YouTube ↗  |  July 14, 2026 at 21:13  |  53:54  |  Bloomberg Markets
Speakers
Michael McKee — International Economics & Policy Correspondent, Bloomberg
Sridhar Natarajan — Bloomberg Chief Wall Street Correspondent
Udesh Jha — Chief Risk Officer, Kalshi
Yelena Shulyatyeva — Senior US Economist, The Conference Board
Ed Ludlow — Co-Host, Bloomberg Technology
Todd Gillespie — Banking Reporter, Bloomberg News

Summary

The episode covers Fed Chair Warsh’s debut testimony pledging to achieve price stability, a cooler-than-expected June CPI reading, and a busy day of big bank earnings showing record trading profits. It also explores a new AI compute futures product from Kalshi and the restructuring drama hitting Lucid Group, whose stock halted trading after a 49% drop.

  • Fed Chair Kevin Warsh vows to deliver 2% inflation but offers no forward guidance on policy moves.
  • June CPI declines for the first time in six years, driven by a drop in gasoline prices, though oil prices are expected to rise again.
  • Goldman Sachs posts its highest quarterly equities revenue ever, with trading desks capitalizing on volatility.
  • Wall Street banks with heavy trading exposure, like Goldman Sachs and Morgan Stanley, are outperforming.
  • Lucid Group engages Alix Partners for restructuring, triggering a record stock drop before a halt; company denies bankruptcy planning.
  • Kalshi launches a forward curve for AI computing power, aiming to create a new asset class for hedging compute costs.
  • IBM shares plunge 25% after a preliminary earnings miss, dragging on the Dow.
Ideas
Michael McKee International Economics & Policy Correspondent, Bloomberg 6:00
Oil prices headed higher due to tariffs
Gasoline and oil prices are headed higher, driven by the recent decline being largely energy-driven and not sustainable, along with upcoming tariff impositions that will add another inflation bout. This suggests continued upward pressure on oil prices.
WTI BNO MED
Sridhar Natarajan Bloomberg Chief Wall Street Correspondent 44:10
Capital markets boom lifts Goldman and Morgan Stanley
Capital markets trading desks are experiencing a historic boom with record revenues, fueled by volatility from geopolitical tensions, AI fervor, and market moves. The stocks most tethered to these markets — Goldman Sachs and Morgan Stanley — have surged and are continuing to outperform, setting high bars for future quarters.
GS MS MED
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This Bloomberg Markets video, published July 14, 2026, features Michael McKee, Sridhar Natarajan discussing WTI, BNO, GS, MS. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Michael McKee, Sridhar Natarajan  · Tickers: WTI, BNO, GS, MS