Ahead of the Federal Reserve’s decision to hold rates steady this week, host Sarah Holder sat down with author and economic commentator Kyla Scanlon to talk about who’s continuing to spend and borrow, who isn’t and what happens when consumer spending doesn’t equal consumer confidence. 

Read more: 
Voters’ Inflation Frustrations Take Shine Off Strong Economic Growth
Kyla’s Newsletter: The Shrugflation Triangle: How AI, Oil, and Treasuries are Impacting the Economy 

We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer.

Host: Sarah Holder; Guest: Kyla Scanlon; Produced by David Fox; Edited by Tracey Samuelson and Patrick Hirsch; Engineering by Emma Munger.

Ahead of the Federal Reserve&rsquo;s decision to hold rates steady this week, host Sarah Holder sat down with author and economic commentator Kyla Scanlon to talk about who&rsquo;s continuing to spend and borrow, who isn&rsquo;t and what happens when consumer spending doesn&rsquo;t equal consumer confidence.&nbsp;
Read more:&nbsp;
<ul>
<li><a href="https://www.bloomberg.com/news/articles/2026-10-29/strong-gdp-unlikely-to-sway-midterm-voters-worried-about-inflation">Voters&rsquo; Inflation Frustrations Take Shine Off Strong Economic Growth</a></li>
<li>Kyla&rsquo;s Newsletter: <a href="https://kyla.substack.com/p/the-shrugflation-triangle-how-ai">The Shrugflation Triangle: How AI, Oil, and Treasuries are Impacting the Economy</a>&nbsp;</li>
</ul>
We have a special Bloomberg subscription offer for podcast listeners at <a href="https://www.bloomberg.com/subscriptions/podcasts">Bloomberg.com/podcastoffer.</a>
Host: Sarah Holder; Guest: Kyla Scanlon; Produced by David Fox; Edited by Tracey Samuelson and Patrick Hirsch; Engineering by Emma Munger.

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

Kyla Scanlon’s ‘Shrugflation’ Triangle

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/ef0b1073-684d-4545-8f27-b4f20150ff66/transcript