It is a single best idea where we try to put together the conversations we have on economics, finance, investment, and international relations. Pick out two of our guests. That's hard to do. Kitchooks today was absolutely fabulous with Society General among others. But we go here with Constance Hunter of Macro Policy Perspectives on a meeting she took with Secretary Romando last night at the Council on Foreign Relations.
But before that, David Rosenberg of Rosenberg Research in Toronto, And what's so important here and this is something we really try to do, which is to frame out who these people are. David Rosenberg worked for Merrill Lynch and was absolutely iconic it parsing out inflation when very few people did that. It was like Dylan at the Philadelphia Folk Festival or whatever where he picked up an electric guitar. Rosenberg did this before anybody else, parsing out inflation, and
we talked to him. But then when we of course had to speak with David Rosenberg about parsing out what your own Powell will say to the politicians.
The Fed has already walked back that dubbishness in December, and you know, the market's leapt on some you know comment that I think Mary Daily made about that maybe March would be the date, and of course then the futures price in you know, six rate cuts, not three. The Fed has successfully calibrated the market back to whe it was in December. I expect that. I think he's
going to be pretty hawkish. And everybody has lined up hawkish relative to where they were in December, and the question is going to be will he sound more or less hawkish than what's priced in right now? My big concern actually, and this is coming from a bond bowl, I think he's going to sound pretty hawkish tomorrow.
David Rosenberg, there is a bond bull price up, yield down. We haven't seen that. It's going to be interesting to see now. I would say that the ten year real yield, the inflation adjust yield getting up to two point zero zero, even a bit higher than that, has come on down now to about a one point eighty three percent, So a little bit of the disinflationary trend in the zeitgeist of the last number of days. Sometimes I'm wrong, Bob, don't you look at me like that. Often I'm wrong
and as wrong. Last night they called me up at the consult foreign Relations Ambassador froman their Michael Frohner, with all of his Pacific experience for the government his public service to the nation, puts together a meeting with Joseph Bai of KKR on a new Indo Pacific effort by the government and by private enterprise including KKR and otherworthies across the Pacific RIM. I thought it'd show up. I get some hors divores and you know, have a beverage
and hang out with twelve people. What I got was an absolutely packed room of people hanging on every word of the Secretary of Commerce, Gina Ramundo, obviously the former governor of Rhode Island. Many of you will know her from that, and she was just it was piercing how intense she was on explaining a new path for America
in the Pacific RIM. I got lucky and that constant hunter was there from macro policy perspectives, and she gleaned out in this very tense thirty five minute conversation the relationship here, the new tone that we'll see in America towards the Pacific RIM.
The other thing that I felt was very interesting is this is a public private partnership where the governments to government relations give cover to make sure that you don't have what do we call it an excessive stroke of the pen risk, right, so you have if you're going to go in and invest in these countries, that you have a little more durability and visibility. And this public private partnership aspect means it's going to be very difficult to dismantle.
This CONSTANTNA there on one of the high points, and at the one point, Secretary of Ramundo just cut off the room and so look, this is a public private effort. And she of course alluded to the failures we've had in our diplomacy to the Pacific rim, not only with the entire span from Australia up to Japan, but also of course with the unmentionable China. Spoke it a little bit about last night. It was great to see Elizabeth Economy there of the CFR now working for Secretary of
Ramundo at Commerce. These are little vignette's little moments. This from two conversations. This is a nascent project for us. Thank you so much for the initial response, particularly out at Apple Podcasts. This is going to be an effort to give you two windows into what you see. I want to remind you that the three hour show, it's on Apple car Play, it's on YouTube. You search in YouTube for Bloomberg Podcasts, and that'll get you to what
we're doing seven to ten am Wall Street Time. I do want to point out if in many many inquiries we are working now, it's like in Raiders of the Lost Arc where they take the Arc into the Pentagon, deep in the bowels of Bloomberg's surveillance. We're working on a three hour program for you after the show comes out. We hope they have that out soon, so it is single best idea. Thank you for listening to this podcast.