Voters in Brazil just took a leftward turn in electing former President Luiz Inacio Lula da Silva, ousting the far-right populist incumbent. Next week, polls show US voters may move in the opposite direction, dealing a blow to Democratic President Joe Biden and his party.

This week's Stephanomics episode explores the economic and political winds in two of the world's largest nations. First, Flanders talks US midterms with Anna Wong, Bloomberg's chief US economist, and reporter Nancy Cook. Overall, the US economy is functioning better than it appears to those focusing on inflation, with a strong job market and high balances in bank accounts, Wong says. Yet, high prices have a way of making consumers feel things are gloomier than they are, and that's not good for Democrats. And if Republicans seize control of one or both houses of Congress, Cook notes that will spell the end of meaningful economic legislation from the Biden administration until the end of the term.

Next, reporter Maria Eloisa Capurro explains the challenges facing Lula after his defeat of Jair Bolsonaro. Brazil has seen progress this year on inflation, with rates falling from 12% to an expected 5.6% next month. However, economists note the improvement is less impressive than it seems, generated in large part by tax cuts instead of real changes in the economy. Meantime, the new president will be under pressure to deliver on campaign promises to cut taxes for the poor, increase them for the rich and provide a minimum income level for the most needy.

In a follow-up discussion, analyst Richard Back of XP Investimentos in Brazil shares with host Stephanie Flanders why he thinks Lula is likely to propose moderate economic policies, despite his progressive reputation. With many acolytes of Bolsonaro still in Brazil's National Congress, Lula knows he cannot be "radical or revengeful," Back says. International investors see the new president as someone who "will make distortions, but he's not the guy that will blow everything."

Voters in Brazil just took a leftward turn in electing former President Luiz Inacio Lula da Silva, ousting the far-right populist incumbent. Next week, polls show US voters may move in the opposite direction, dealing a blow to Democratic President Joe Biden and his party.
This week's Stephanomics episode explores the economic and political winds in two of the world's largest nations. First, Flanders talks US midterms with Anna Wong, Bloomberg's chief US economist, and reporter Nancy Cook. Overall, the US economy is functioning better than it appears to those focusing on inflation, with a strong job market and high balances in bank accounts, Wong says. Yet, high prices have a way of making consumers feel things are gloomier than they are, and that's not good for Democrats. And if Republicans seize control of one or both houses of Congress, Cook notes that will spell the end of meaningful economic legislation from the Biden administration until the end of the term.
Next, reporter Maria Eloisa Capurro explains the challenges facing Lula after his defeat of Jair Bolsonaro. Brazil has seen progress this year on inflation, with rates falling from 12% to an expected 5.6% next month. However, economists note the improvement is less impressive than it seems, generated in large part by tax cuts instead of real changes in the economy. Meantime, the new president will be under pressure to deliver on campaign promises to cut taxes for the poor, increase them for the rich and provide a minimum income level for the most needy.
In a follow-up discussion, analyst Richard Back of XP Investimentos in Brazil shares with host Stephanie Flanders why he thinks Lula is likely to propose moderate economic policies, despite his progressive reputation. With many acolytes of Bolsonaro still in Brazil's National Congress, Lula knows he cannot be "radical or revengeful," Back says. International investors see the new president as someone who "will make distortions, but he's not the guy that will blow everything."

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Tariffs, crypto, deregulation, tax cuts, protectionism, are just some of the things back on the table when Donald Trump returns to the Presidency. To help you plan for Trump's singular approach to economics, Bloomberg presents Trumponomics, a weekly podcast focused on the Trump administration's economic policies and plans. Editorial head of government and economics Stephanie Flanders will be joined each week by reporters in Washington D.C. and Wall Street to examine how Trump's policies are shaping the global economy and what on earth is going to happen next.

Who will win the trade war, and how? If the job market is so strong, why does your paycheck seem so meager? What will drive the economy of the future? Stephanomics, a podcast hosted by Bloomberg Economics head Stephanie Flanders, will take listeners on location each week to answer questions like these and bring the global economy to life.

Trumponomics

Why Brazil's Lula May Tack Toward the Center

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/289ed2c1-dc0b-41da-947b-af42007a17d0/transcript

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