Markets Cautious Ahead of Jackson Hole

Bloomberg Surveillance

Bloomberg

News, Investing, Business News, Business

4 • 1.1K Ratings

🗓️ 21 August 2025

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyAugust 20th, 2025
Featuring:
1) Michael McKee, International Economics & Policy correspondent from Bloomberg News, joins from Jackson Hole. Traders are staying cautious ahead of Fed Chair Jerome Powell’s speech on Friday for guidance on the path for interest rates. Overshadowing Powell's speech is an attempt by the Trump administration to oust Fed governor Lisa Cook as it looks to reshape the FOMC.
2) Wendy Schiller, professor at Brown University, on the latest DC headlines and how President Trump's next priority appears to be reshaping the Fed. President Trump's campaign to oust Federal Reserve Governor Lisa Cook would give him the opportunity to exert more influence over the US central bank by securing a majority on its seven-member board of governors. If Cook were to depart, it would pave the way for four of the seven slots on the Fed's Board of Governors to be filled by Trump appointees.
3) Kara Murphy, CIO at Kestra Investment Management, brings us into the market open and discusses the "Rip van Winkle" Q2 and the outlook for markets and earnings growth. US stock futures pointed to more weakness for tech shares on Thursday after days of selling as investors awaited the Federal Reserve’s gathering at Jackson Hole.
4) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Business Insiders story on older Americans looking for work and a WSJ story on a 9-9-9 rule in baseball.

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Transcript

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1:25.8	All right. Let's go right to Michael McKee's out there in Jackson Hole.
1:30.3	Hey, Michael, as we get into Fed Chairman Powell's speech tomorrow, have expectations been changing?
1:37.9	What do you think is going to drive his commentary tomorrow?
1:41.3	Well, probably people are starting to change their expectations based on the
	...

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