In 2001, it was lipstick. After the 2008 financial crisis, it was DIY haircuts. In times of economic turmoil, consumers tend to change the way they spend on makeup and beauty. So what is the beauty industry telling us now about the state of the US economy? 

On today’s Big Take podcast, Bloomberg’s Ben Steverman visits a beauty convention and talks to masseuses and hair stylists about the trends they’re seeing in their salons, and cosmetics reporter Jeannette Neumann crunches the numbers on how these consumer behaviors are hitting companies’ bottom lines.

Read more:
The Beauty Salon Recession Indicator
Estée Lauder Forecasts Return to Sales Growth in 2026

In 2001, it was lipstick. After the 2008 financial crisis, it was DIY haircuts. In times of economic turmoil, consumers tend to change the way they spend on makeup and beauty. So what is the beauty industry telling us now about the state of the US economy?&nbsp;
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s Ben Steverman visits a beauty convention and talks to masseuses and hair stylists about the trends they&rsquo;re seeing in their salons, and cosmetics reporter Jeannette Neumann crunches the numbers on how these consumer behaviors are hitting companies&rsquo; bottom lines.
Read more:
<ul>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2025-04-11/recession-indicator-us-hairstylists-report-clients-cut-spending?srnd=undefined">The Beauty Salon Recession Indicator</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2025-05-01/estee-lauder-el-forecasts-return-to-sales-growth-in-2026?srnd=undefined">Est&eacute;e Lauder Forecasts Return to Sales Growth in 2026</a></li>
</ul>

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

The Big Take from Bloomberg News brings you inside what’s shaping the world's economies with the smartest and most informed business reporters around the world. The context you need on the stories that can move markets. Every afternoon.

Big Take

Are Current Beauty Trends Recession Indicators? It’s Complicated.

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ebf30f8c-b4d4-41dc-bbba-b2e6010ed74a/transcript

Has Iran laid mines across the Strait of Hormuz? With attacks on gas and oil facilities across the Middle East sending energy prices soaring, a key to restoring global oil supplies is ensuring the Strait of Hormuz is safe for tanker traffic. However, even the possibility that the area has been mined suggests that a recovery could be slow.

On today’s Big Take podcast, Bloomberg’s global defense editor, Gerry Doyle, tells David Gura about the challenges of clearing mines — especially before the shooting stops.

Read more: 
Mines, Missiles, and the Strait of Hormuz
Mine-Sweeping Drones Don’t Eliminate The Risks For Clearing Hormuz

Hosted by David Gura; Produced by David Fox; Reported by Gerry Doyle; Edited by Jeffrey Grocott.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

Has Iran laid mines across the Strait of Hormuz? With attacks on gas and oil facilities across the Middle East sending energy prices soaring, a key to restoring global oil supplies is ensuring the Strait of Hormuz is safe for tanker traffic. However, even the possibility that the area has been mined suggests that a recovery could be slow.
On today&rsquo;s Big Take podcast, Bloomberg&rsquo;s global defense editor, Gerry Doyle, tells David Gura about the challenges of clearing mines &mdash; especially before the shooting stops.
Read more:&nbsp;
<ul>
<li><a href="https://www.bloomberg.com/news/newsletters/2026-03-17/mines-missiles-and-the-strait-of-hormuz?srnd=undefined">Mines, Missiles, and the Strait of Hormuz</a></li>
<li aria-level="1"><a href="https://www.bloomberg.com/news/articles/2026-03-16/mine-sweeping-drones-are-imperfect-way-to-reopen-strait-of-hormuz">Mine-Sweeping Drones Don&rsquo;t Eliminate The Risks For Clearing Hormuz</a></li>
</ul>
Hosted by David Gura; Produced by David Fox; Reported by Gerry Doyle; Edited by Jeffrey Grocott.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Katie McMurran.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Iran Mine Threat Rattling Global Oil

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/263c430c-d7b2-4d12-8723-b412015851ea/transcript

The Federal Open Market Committee announced this afternoon that it would hold interest rates steady. The decision comes in spite of spiking oil prices and new market uncertainty driven by the Iran War.

On today’s Big Take podcast, host David Gura sits down with Bloomberg Federal Reserve reporter Amara Omeokwe and Wharton professor and historian Peter Conti-Brown to discuss how the Fed is thinking about the Iran War and its impacts on the US economy — and what could shift its calculus in the months ahead.

Read more: Fed to Hold Interest Rates Steady as Iran War Scrambles the Economic Outlook

Hosted by David Gura; Produced by Julia Press; Reported by Amara Omeokwe; Edited by Tracey Samuelson.

Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

The Federal Open Market Committee announced this afternoon that it would hold interest rates steady. The decision comes in spite of spiking oil prices and new market uncertainty driven by the Iran War.
On today&rsquo;s Big Take podcast, host David Gura sits down with Bloomberg Federal Reserve reporter Amara Omeokwe and Wharton professor and historian Peter Conti-Brown to discuss how the Fed is thinking about the Iran War and its impacts on the US economy &mdash; and what could shift its calculus in the months ahead.
Read more: <a href="https://www.bloomberg.com/news/articles/2026-03-16/fed-to-hold-interest-rates-steady-as-iran-war-scrambles-the-economic-outlook?srnd=undefined">Fed to Hold Interest Rates Steady as Iran War Scrambles the Economic Outlook</a>
Hosted by David Gura; Produced by Julia Press; Reported by Amara Omeokwe; Edited by Tracey Samuelson.
Fact-checking by Eleanor Harrison-Dengate; Engineering by Alex Sugiura.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer.

This Is the Fed's Worst Nightmare

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8ce3721f-2086-4441-b794-b41101461f9a/transcript

From soaring fuel prices in Pakistan to a shortage of cooking gas in India, Asia is bearing the brunt of the energy crunch sparked by the Iran War.

On today’s Big Take Asia podcast we look at how war in the Middle East has pushed Asia to the forefront of a global crisis. Host K. Oanh Ha speaks with Bloomberg’s Faseeh Mangi about the impact of soaring fuel prices in Pakistan and Clara Ferreira Marques about how the least economically resilient countries are feeling the most pain. 

Hosted by K. Oanh Ha; Produced by Yang Yang, Naomi Ng;  Reported by Faseeh Mangi, Clara Ferreira Marques;  Edited by Paddy Hirsch.

Fact-checking by Naomi Ng, Eleanor Harrison-Dengate;  Engineering by Taka Yasuzawa.

Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

From soaring fuel prices in Pakistan to a shortage of cooking gas in India, Asia is bearing the brunt of the energy crunch sparked by the Iran War.
On today&rsquo;s Big Take Asia podcast we look at how war in the Middle East has pushed Asia to the forefront of a global crisis. Host K. Oanh Ha speaks with Bloomberg&rsquo;s Faseeh Mangi about the impact of soaring fuel prices in Pakistan and Clara Ferreira Marques about how the least economically resilient countries are feeling the most pain.&nbsp;
Hosted by K. Oanh Ha; Produced by Yang Yang, Naomi Ng;&nbsp; Reported by Faseeh Mangi, Clara Ferreira Marques;&nbsp; Edited by Paddy Hirsch.
Fact-checking by Naomi Ng, Eleanor Harrison-Dengate;&nbsp; Engineering by Taka Yasuzawa.
Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.

Asia Is Bearing the Brunt of the Iran War Energy Crisis

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/c1bed506-227f-42bc-9e5c-b410014fd8d7/transcript

Are Current Beauty Trends Recession Indicators? It’s Complicated.

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