US Consumer Confidence Slips on Price Concerns| Bloomberg Businessweek Daily 5/26/2026
Speakers
Peter Atwater
— President of Financial Insyghts
Michael Swanson
— chief agricultural economist at Wells Fargo's Agri-Food Institute
Natalia Jovic
— Bloomberg News equities reporter
Summary
The episode covers US-Iran tensions and their impact on energy markets, slipping US consumer confidence amid price worries, the hot NYC real estate market despite proposed taxes, and agricultural supply-chain disruptions driving higher food prices. Guests discuss the K-shaped economy, AI backlash risk, and fertilizer/diesel cost pressures on farmers and consumers.
- US and Iran trade strikes near the Strait of Hormuz even as peace talks continue.
- Consumer confidence edges down in May on rising fuel and food prices.
- Peter Atwater highlights a deepening K-shaped divide between asset owners and renters.
- AI stocks rally while Atwater warns of growing backlash from lower-income groups.
- NYC real estate remains hot with bidding wars and low inventory despite proposed pied-a-terre taxes.
- Fertilizer shortages from the Hormuz closure pressure farmers and raise grocery costs.
- Protein demand stays strong; beef industry confident about keeping prices high.
- Qualcomm reportedly reaches deal with ByteDance to supply AI data center chips.
