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Willem Buiter, chief economist at Citigroup, says a hard Brexit is the most likely outcome for the U.K. BlackRock's Jeffrey Rosenberg discusses how low bond yields can go. Dr. Allan Meltzer, professor at the Tepper School of Business, says the Fed is financing the government's deficit. See omnystudio.com/listener for privacy information.
In a Bloomberg exclusive, Philadelphia Fed President Patrick Harker says the Fed should normalize sooner rather than later. Former IMF Chief Economist Olivier Blanchard says the U.S. central bank may have a communication problem. Oaktree Capital Group's Howard Marks warns that lower institutional returns are a big problem. See omnystudio.com/listener for privacy information.
NYU professor of economics Michael Spence says sole reliance on monetary policy won't work. Former President of the Federal Reserve Bank of Philadelphia Charles Plosser says the Fed faces troubling credibility problems on interest rates. University of Chicago Booth School of Business professor of economics Chad Syverson weighs in on the productivity slowdown in the U.S. Ford Motor CEO Mark Fields says Ford is exploring more mobility services to compete with Uber and Tesla. See omnystudio.com/lis...
Gluskin Sheff & Associates' David Rosenberg says the U.S. dollar will appreciate over the next several months. University of California Irvine professor of economics Peter Navarro says Trump's economic program is to cut corporate tax rates and create jobs in the supply chain in the Midwest. University of California Berkeley professor of economics Laura Tyson says Clinton was prepared for the debate and was articulate and factual. See omnystudio.com/listener for privacy information....
Algebris Investments' Alberto Gallo says Deutsche Bank will take 10 years to fix. Gary Shilling, president of A. Gary Shilling & Co., says he's raised cash holdings to 50 percent, the highest ever. Selzer & Co. President Ann Selzer discusses the latest Bloomberg Politics poll showing Trump and Clinton deadlocked before tonight's debate. John "Jack" Bogle of Bogle Financial Markets and founder of Vanguard Group weighs in on mutual fund costs and calls them outrageous. See omnystudio.com/l...
Charles Calomiris, an economics professor at Columbia Business School, says central banks' negative rates policy is idiotic. Edward Conard, author of "The Upside of Inequality: How Good Intentions Undermine the Middle Class," on saving America's Middle Class. Louise Yamada Technical Research's Louise Yamada says the Fed is keeping equities propped up. Brian Kelly, founding CEO of The Points Guy, says the Starwood program won't go away anytime soon. See omnystudio.com/listener for privacy informa...
Citigroup's William Lee says we have a rudderless, event-driven Fed. Wells Fargo's John Manley says American consumers are starting to feel better. And Morgan Stanley's Hans Redeker says it's time to slowly turn the boat on Yen. See omnystudio.com/listener for privacy information.
George Goncalves, head of U.S. rates strategy at Nomura Securities, discusses the changes to the Bank of Japan’s monetary stimulus program. Goldman Sachs’ Abby Joseph Cohen says U.S. stocks are not in a bubble. Atlas Merchant’s Bob Diamond says he’s looking to invest in European banks. The OECD’s Catherine Mann says there is no sign of a major collapse in confidence post Brexit.\u0010\u0010(Corrects spelling of guest in headline) See omnystudio.com/listener for privacy information....
Council of Foreign Relations' Richard Haass says TPP passage is a no-brainer for an open economy. Harvard Business School's Michael Porter says our political system is structured to divide us. CLSA's Mike Mayo says the Wells Fargo scandal will blow over with some pain. Peterson Institute Senior Fellow David Stockton says Yellen is more in the "patient" camp than the "ready to go" camp. See omnystudio.com/listener for privacy information.
Luigi Zingales, professor at The University of Chicago Booth School of Business, says the German election shows a risk of the EU moving backward. UBS Securities' Brennan Hawken weighs in on Wells Fargo's recent lawsuit by customers. Capital Alpha Partners' Charles Gabriel says the sense of helplessness about homegrown terrorism could work to Trump's advantage. See omnystudio.com/listener for privacy information.
Lakshman Achuthan, ECRI co-founder, explains his cautious view on economic growth. Also, Kennan Institute's William Pomeranz on Trump's admiration for Putin. And \u0010NYU's Rick Pildes on what happens if a political candidate pulls out. See omnystudio.com/listener for privacy information.
U.S. Council of Economic Advisers Chairman Jason Furman says U.S. productivity growth is too slow. Grisanti Capital Management CEO Christopher Grisanti recommends holding cash and being selective on stocks. Sri-Kumar Global Strategies founder Komal Sri-Kumar criticizes Bank of England Governor Mark Carney for moving too quickly in August. See omnystudio.com/listener for privacy information.
Carl Tannenbaum, Northern Trust Company's chief economist, on the dangerous path of Japanese demographics. PK Verleger President Phil Verleger defends his outlier call on oil. And UBS' Drew Matus on four key inflation charts. See omnystudio.com/listener for privacy information.
Harvard University Professor Kenneth Rogoff makes the case for eliminating most paper money. Evercore Partners founder Roger Altman dismisses concern over Hillary Clinton's health. Martin Feldstein, president emeritus of the National Bureau of Economic Research, says the Fed has a risky strategy, while Yale University Professor Robert Shiller says the central bank is out of ammunition. See omnystudio.com/listener for privacy information.
The London School of Economics' Lord Meghnad Desai says we need helicopter money. Also, American Action Forum President Douglas Holtz-Eakin says the Fed is unpopular right now. OECD's William White says negative rates risk backfiring. And finally, Goldman Sachs' Jeff Currie says commodity markets are near equilibrium. See omnystudio.com/listener for privacy information.
Morgan Stanley's Ellen Zentner says the Fed is itching to move rates. Also, PIMCO Executive Vice President, Libby Cantrill, believes the same party that wins the White House will win the Senate. And finally, former Minneapolis Fed President Gary Stern: "I would vote for a Fed rate hike." See omnystudio.com/listener for privacy information.
Piper Jaffray's Gene Munster says Apple's AirPods aren't likely to backfire. Also, Manulife's Megan Greene says ECB is following in BOJ's footsteps. And finally, PWC's Mitch Roschelle says that London still holds huge appeal post-Brexit. See omnystudio.com/listener for privacy information.
CLSA's Mike Mayo calls JPMorgan the LeBron James of banking; Allianz's Mohamed El-Erian says central banks are becoming less effective; Willett Advisors' Steve Rattner says U.S. trade deals didn't address lower wages; Amherst Pierpont's Stephen Stanley says the Fed can't be patient and gradual. And finally, NHL Commissioner, Gary Bettman: "There's nothing better than live sports, we're the ultimate reality show." See omnystudio.com/listener for privacy information....
Kissinger Associates' Bob Hormats says the U.S. political environment is almost fact-free. Also, the Fletcher School's James Stavridis says that NATO underestimated the Russian response to NATO's expansion. And finally, the Gartman Letter's Dennis Gartman says ethanol is a terrible fuel. See omnystudio.com/listener for privacy information.
JPMorgan International Chairman Jacob Frenkel says negative rates are not healthy for the financial system; Harvard Kennedy School's Nicholas Burns says Vladimir Putin respects a show of force; Janus Capital's Bill Gross: September rate hike odds are close to 100%; and PIMCO's Scott Mather says Fed's "forward misguidance" campaign continues. See omnystudio.com/listener for privacy information.
Stewart Warther, BNP Paribas Equity Strategist, and David Kotok, Cumberland Advisors Chairman, on what will drive volatility higher; Admiral James Stavridis, Dean of Tufts University Fletcher School, on G20 meeting and Russia-Turkey relations; and Stephen Schork, Schork Group President, says the cruel summer has been phenomenal for energy. See omnystudio.com/listener for privacy information.
Atlantic Equities Bank Analyst Chris Wheeler says he doesn't expect a merger of big banks in Germany. Also, Ed Morse, head of commodities research at Citigroup, sees $65 oil by the end of 2017 and thinks "OPEC is dead." And finally, Chicago Booth Professor and Clinton Advisor Austan Goolsbee says 25% chance of recession by late 2017. See omnystudio.com/listener for privacy information.
Federal Reserve Vice Chairman Stanley Fischer says negative interest rates seem to be working in other countries, while reinforcing that they aren’t on the table in the U.S. Adam Posen, president of the Peterson Institute for International Economics, reacts to Fischer's interview. See omnystudio.com/listener for privacy information.
Did the Fed blow it? Stanford University economist John Taylor says Federal Reserve policymakers erred by failing raise interest rates so far this year and the policy is “confusing people.” Also, Peter Hooper, chief economist at Deutsche Bank, says a stronger dollar will slow the pace of Fed hikes. And finally, Ira Jersey, a senior client portfolio manager at OppenheimerFunds, says a flatter yield curve this time around isn't a recession indicator. See omnystudio.com/listener for privacy informa...
St. Louis Fed President James Bullard says the central bank is close to its goals; Dallas Fed President Robert Kaplan says the path of Fed rate hikes going forward will be flatter; Atlanta Fed President Dennis Lockhart says he can see two rate hikes this year; NYU's Brad Hintz says negative rates are crushing bank balance sheets; Columbia Business School Dean Glenn Hubbard and Barclays' Michael Pond discuss the Fed's policy toolbox. See omnystudio.com/listener for privacy information....
Kansas City Fed President Esther George: "Time is right" for a near-term rate hike; Howard Ward, GAMCO chief investment officer, says we're running up against the law of diminishing returns when it comes to monetary policy; and Wendy Schiller, Brown University political science professor says Donald Trump is doing us a favor by exposing a lot of flaws in our nomination system. See omnystudio.com/listener for privacy information.
David Malpass, Donald Trump Economic Advisor, says Trump will cut taxes for everyone; Dominic Konstam, Deutsche Bank Global Head of Rates Research, "stunned" by poor productivity numbers; David Kotok, Cumberland Advisors Chairman, previews Jackson Hole; and Doug Duncan, Fannie Mae Chief Economist, discusses the housing market. See omnystudio.com/listener for privacy information.
Jim Glassman, senior economist at JPMorgan Securities, says the U.S. unemployment rate may be 6.47 percent; Michael Pond, head of inflation market strategy at Barclays Global, speaks about the distinction between inflation expectations and inflation compensation; and Danny Blanchflower, a former BOE policymaker, says it could take up to six months to understand Brexit's impact on the U.K. economy. See omnystudio.com/listener for privacy information....
Tom Keene and Francine Lacqua, filling in for Michael McKee, bring you the best in economics, finance, investment and international relations. Today in Surveillance, they discuss monetary policy with RBS' Howard Davies; banks with Harris Associates' David Herro; and central banks with Allianz's Mohamed El-Erian. See omnystudio.com/listener for privacy information.
Tom Keene and Michael McKee bring you the best in economics, finance, investment and international relations. Today in Surveillance, they discuss profit margins with OppenheimerFunds' Brian Levitt; the Fed with Bank of America Merrill Lynch's Michelle Meyer; election polls with Gallup's Frank Newport; and fed rates with MKM Holding's Michael Darda. See omnystudio.com/listener for privacy information.
