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That's the power of global connections, Merrill Lynch Pierce Fenner and Smith, Inc. Member SIPC. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene with David Gura.

Daily we bring you insight from the best of economics. Finance investment and international relations,

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I'm a Jersey joins us now.

As the Federal Reserve wraps up a two-day meeting in Washington,

he's a rate strategist with Bloomberg

In the Zen on Bloomberg 1130 studios. I regret to speak with you.

Let's set the stage here for this meeting. Day two of the meeting begins shortly.

What are you expecting to come out of? What's this Fed weighing,

what's it looking at over the course of this two-day meeting?

Yeah, so I think it's going to be weighing, you know, what new risks have been

created firstly since the last meeting and then secondly, and I think this is going to be more closed

door and the minutes of this meeting might be more interesting than today's statement but

about how monetary policy and their balance sheet is going to continue to develop over time.

...