Inflation Expectations Are Too Low, Kroszner says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 18 July 2018
⏱️ 30 minutes
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Summary
Priya Misra, TD Securities Head of Global Interest Rates Strategy, says that the Fed is entering a "neutral zone." Rep. Tom Reed (R-NY), House Ways and Means Trade Subcommittee member, thinks the long-term economic growth trajectory will not be impacted by the short-term anxiety from the trade war. Randall Kroszner, University of Chicago Professor & Former Fed Governor, says we ought to be open to the possibility that the yield curve flattening does not mean recession. Terry Haines, Evercore ISI Senior Political Strategist, predicts Republicans will pick up some seats in the Senate and lose a few in the House in the midterm elections.
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| 1:00.1 | and international relations. find Bloomberg surveillance on Apple |
| 1:04.3 | podcasts, SoundCloud Bloomberg.com and of course on the Bloomberg. Priya is for joining me now. |
| 1:15.0 | T security's head of global interest rate strategy here in New York. |
| 1:21.0 | Priya for now, is that like the crack in the conviction with J-Powel at the moment? |
| 1:24.5 | Hi John, yes, I think JaiPowel is trying to retain optionality, is trying to retain flexibility. |
| 1:30.8 | There are a lot of uncertainties out there. |
| 1:32.6 | You know, we've had the tax cuts, so you've had this near-term boost to growth. |
| 1:36.1 | We really don't know if that's going to affect long-term growth. |
| 1:39.1 | We also don't know how the whole trade war thing is going to play out. |
| 1:42.5 | So I think what we're hearing from Chair Powell is for now, so the next couple of hikes. |
| 1:47.0 | But I was struck by the fact that he is not pushing the theme of a higher R-star or a higher |
| 1:52.3 | neutral rate. He actually or a higher neutral rate. |
| 1:53.1 | He actually brought up the neutral rate a bunch of times, |
| 1:55.3 | but he's saying there's a lot of uncertainty. |
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