Bloomberg Surveillance · Wednesday, September 30, 2026
Stephanie Roth suggests that while higher oil prices might put some upward pressure on goods inflation, the spillover effect is not expected to be as substantial as with tariffs. She anticipates inflation trending into the twos, with wages and oil prices being key factors for future Fed decisions.
“The spillover isn't that large realistically. I mean, it's been concentrated in a couple of categories.”
“I don't think that the diesel price effect will be nearly as large as the tariff effect. But it fed through very slowly into inflation at a time where tariffs are going to be moving the year-over-year figures the other way.”
“The question is whether it can continue to work. And the other point you made, I mean, not only you have to face shipping costs of $ 20- plus a barrel, we're also looking at two aircraft carrier groups from the U.S. having to maintain the system here, which, frankly, is also a very expensive process. very expensive process.”