Gabriela Berrospi, CEO & Founder of Latino Wall Street, joins Remy Blaire to discuss the current economic climate amid the ongoing U.S. government shutdown, which has left many feeling as though they are experiencing an economic data depression. With the U.S. Labor Department unable to release initial jobless claims data and the September jobs report also delayed, Remy explores the implications of this shutdown on the job market and the broader economy.
Despite initial fears surrounding the shutdown, the market ended the previous trading session higher. Gabby highlights the historical context of government shutdowns, noting that while they may cause short-term dips, they often lead to buying opportunities as investors recognize these situations as temporary.
The conversation shifts to the recent ADP report, which indicates the worst job losses in two and a half years. Remy and Gabby discuss the potential impact of the lack of economic data on Federal Reserve expectations. Gabby expresses concern over the current state of economic data, suggesting that the recent turmoil may necessitate a reset for more accurate reporting. She believes that the Fed may respond to the shutdown by becoming more flexible with monetary policy, potentially leading to rate cuts that could positively influence the markets.
As the segment concludes, Remy and Gabby examine the performance of gold and cryptocurrency during this period of uncertainty. Gabby notes that both asset classes are becoming increasingly attractive to investors seeking safety amidst economic instability. With gold hitting new record highs and Bitcoin recovering significant levels, she anticipates continued strong performance in these areas as the economic landscape evolves.