Welcome to Crash Course, a podcast about business, political, and social disruption and what we can learn from it.

I'm Tim O'Brien. Every week on Crash Course, I'm going to bring listeners directly into the arenas where epic upheavals occur and

I'm going to explore the lessons we can learn when creativity and ambition collide

with competition and power.

Listen to Crash Course every Tuesday on the IHeartRadio app, Apple Podcasts,

or wherever you get your podcasts.

This is Bloomberg surveillance.

America is not as exceptional anymore.

Traditionally where America was exceptional is that markets were

working exceptionally well.

The problem is the Fed tells us it's data dependent.

We no longer have a framework in which to interpret the data.

I worry much less about the banks in the US.

I worry about where risk has morphed and migrated and

morphed away from the banks. Bloomberg surveillance, your link to the world of

economics, finance and investment on Bloomberg Radio.

Good morning everyone, Michael McKeene and Tom Keene.

We welcome you to another hour, a midweek Wednesday hour of Bloomberg surveillance.

Oil south in the last number of minutes, a 27 handle right now 2807, other than that

a churn to the post-Yellen market, what do we mean? The embargoed comments released, of course,

in one hour, her testimony to the Senate, the Representative

and Chairman from Texas and the Maxine Waters of California.

...