UK Chancellor of the Exchequer Rachel Reeves is expected to announce a range of tax hikes to fill a £20 billion budget hole to avoid breaking her fiscal rules. 84 days since the Chancellor announced the date of her second budget, she’s told both bond-market investors and Labour Party backbenchers that it’s been drafted with them in mind. Reeves needs to announce measures that will placate both rebels who rejected her past efforts to cut spending and gilt holders who’ve been demanding a premium on UK debt. Although Reeves is expected to start speaking at around 12:30 p.m., it may be some time before investors decide whether her plans are a credible solution to Britain’s fiscal challenges.
In the US, the search for a new Fed Chair is entering its final weeks and Bloomberg has learnt that Kevin Hassett has emerged as the favorite. The White House National Economic Council Director is seen as someone who would bring the president’s approach to interest-rate cutting to the Fed.
Today’s guests: Michael Strobaek, Lombard Odier Global CIO; Huw van Steenis, Oliver Wyman Vice Chair; Jumana Saleheen, Vanguard Chief European Economist; Louise Hellem, Confederation of British Industry Chief Economist
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"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse with Francine Lacqua
00:01:01 – UK Chancellor to deliver autumn budge today
00:05:21 – Michael Strobaek, Lombard Odier CIO
00:07:04 – UK inflation in focus as budget announcement awaits
00:14:58 – UK business leaders on UK budget today
00:16:33 – Huw van Steenis, Oliver Wyman Vice Chairman
00:23:30 – Wednesday headlines
00:24:02 – Kevin Hassett emerges as top Fed chair contender
00:26:33 – Jumana Saleheen, Vanguard Chief European Economist
00:33:15 – Steve Witkoff Advised Russia on How to Pitch Ukraine Plan to Trump
00:37:01 – Louise Hellem, Confederation of British Industry Chief Economist
00:44:05 – Bloomberg MLIV Macro View: Sterling faces pressure regardless of budget outcome
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