The country's cattle herd has shrunk to its smallest size in decades and beef prices have been soaring this year, with hamburgers and steaks becoming the latest flashpoints in the political debate over higher food prices. In this episode, we untangle the roots of declining domestic beef supply — from drought and surging feed costs to the lasting impact of consolidation in the meatpacking industry. We speak with Bill Bullard, CEO of R-CALF USA, a trade association for independent cattle ranchers, about the forces shrinking America's cattle industry and what can be done about it. (Editor's Note: This episode was recorded Oct. 30)Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlotsOnly Bloomberg.com subscribers can get the Odd Lots newsletter in their inbox — now delivered every weekday — plus unlimited access to the site and app. bloomberg.com/subscriptions/oddlotsSee omnystudio.com/listener for privacy information.
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What Susan Collins Wants to See Before Supporting Another Rate Cut
In early November, it looked like almost a sure thing that the Federal Reserve would cut rates. Since then, the odds have come in dramatically, as a number of FOMC members have been talking about persistent inflationary pressures. One such voice has been Susan Collins, the president of the Boston Fed. On this episode, she explains her thinking as to why, right now, she's more concerned about inflation than she is about the labor market, and she tells us what she'd like to see before supporting another rate cut. Today's episode coincides with the first day of the Boston Fed's annual economic research conference, which will be streaming live on the bank's website. Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlotsSee omnystudio.com/listener for privacy information.
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Tyler Cowen on Why AI Hasn't Changed the World Yet
In many respects, AI technology is already mind-blowing, and can perform many tasks far better than the average person. And yet by and large, its impact has been hard to detect. We haven't seen some huge labor displacement, for example. There's nothing dramatic yet happening in the productivity data. So when will the impact really start to be felt? On this episode, we speak with Tyler Cowen, a professor at George Mason University and the co-author of the famed econ blog Marginal Revolution. He's also the host of the Conversations with Tyler podcast. We talk about when we'll really start feeling AIs impact, as well as other topics, like food, music, and the general state of discourse. Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlotsSee omnystudio.com/listener for privacy information.
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The Politics of AI Are About to Explode
AI wasn't much of a topic in the 2024 election. But it will almost certainly be big in 2028, and probably even the 2026 midterms. There are concerns about all the money being spent and whether a federal backstop or bailout will be necessary one day. There are the concerns about energy use and electricity prices. There are concerns about labor displacement. And there are concerns about whether we can trust AI outputs. Already we see numerous politicians lining up against AI in one way or another. On this episode, we speak with Saagar Enjeti, the co-host of the Breaking Points podcast to discuss how this issue is already blowing up, and how the tech industry may soon find itself friendless in DC. Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlotsSee omnystudio.com/listener for privacy information.
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Jeffrey Gundlach Says Almost All Financial Assets Are Now Overvalued
Stocks are overpriced. Bonds are overpriced. And private assets are a powder keg. This is the view of Jeffrey Gundlach, the founder and CEO of DoubleLine Capital. As part of our 10-year anniversary celebration of the Odd Lots podcast, we've been talking to some big names in markets and economics to get a sense of how they see the world and what's changed in recent years. One major change, obviously, is the end of ZIRP. And while Treasuries have rallied modestly this year, Gundlach sees mounting pressure on government balance sheets pushing yields higher going into the future. We also talk about gold, the greater opportunities for a US-based investor when looking internationally, and why everyone should be holding more cash in their portfolios.Subscribe to the Odd Lots NewsletterJoin the conversation: discord.gg/oddlotsSee omnystudio.com/listener for privacy information.
Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.
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