Ed Kalecki

Jared Bernstein, former chair of the Council of Economic Advisors in the Biden administration, joined Kelly Lyons on Balance of Power and talked about how long the economic ripple effects could last after the war.

Jared Bernstein, former chair of the Council of Economic Advisors on Balance of Power with Kelly Lyons.

U.S.

consumer sentiment fell in recent weeks to a record low, indicating Americans increasing worries about mounting inflation due to the Iran war.

The preliminary April sentiment index slumped to 47.6%.

from 53.3 in March, this according to the University of Michigan data out Friday.

The survey period includes responses from March 24th to April 7th.

That was below all but one estimate in a Bloomberg survey of economists.

Consumers expect prices to rise at an annual rate of 4.8 percent over the next year, jumping a percentage point from March in the biggest advance since President Trump announced sweeping tariffs a year ago.

Congress returns next week to cope with continued financing for the Department of Homeland Security.

Republicans will insist on provisions that include immigration enforcement.

Congresswoman Nicole Meliotakis talked about it on Bloomberg's Balance of Power.

New York Congresswoman Nicole Meliotakis.

After two rounds of the Masters, Rory McIlroy, 7-under for the day Friday, 12-under for the tournament.

He heads into Saturday's third round with a six-shot lead.

The Friday numbers on Wall Street, the Dow dropped 269, Nasdaq gained 80, the S&P lost 7.

The 10-year Treasury yield 4.31%, the 2-year 3.79%.

Checking oil, West Texas Intermediate 95.81, down 2%.

Brent Crude at 94.33, down 1.5%.

That's news when you want it with Bloomberg News Now.