Welcome to the Wall Street Week newsletter, where global Wall Street's best minds give you some thinking on investing from our conversations on Bloomberg Television. I'm David Westin, and this week we have special contributor Larry Summers on U.S. jobs numbers, GE's Larry Culp and GE Vernova's Scott Strazik on the final step in the restructuring of an American icon, and the Economist's Zanny Minton Beddoes talked about the future of the Chinese economy. If you're not already a subscriber, sign up for this newsletter and daily market analysis from Bloomberg Surveillance here.
Friday's U.S. jobs data suggests what special author Larry Summers called a “relatively strong economy.” But he also noted that “employment growth continues to be significantly faster than underlying population growth.” The U.S. also has “enormous deficits,” he said, and “more spending is on the horizon – significant investments in renewable energy, significant capital costs of various kinds related to artificial intelligence, an aging population – which means more savers.” [and] less capital flow from abroad.”
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