Surveillance: Dollar Is Overvalued About 10%, Vamvakidis Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 20 August 2018
⏱️ 24 minutes
🧾️ Download transcript
Summary
Thanos Vamvakidis, Bank of America Merrill Lynch International Head of G10 FX Strategy, thinks the dollar is overvalued by about 10%. Tim Quinlan, Wells Fargo Securities Senior Economist, says conversations at Jackson Hole may be more about the balance sheet than the Fed funds rate. Ken Simonson, NABE Survey Analyst & Associated General Contractors Chief Economist, reviews the NABE survey and notes that 91% of the respondents said tariffs are harmful to the economy. And Meenal Patel, JPMorgan Private Bank EMEA Head of FX, Commodities, and Rates, foresees a continuation of global growth.
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| 0:59.8 | So coming up then big week ahead the Federal Reserve's annual policy |
| 1:05.8 | symposium kicking off this Friday in Jackson Hole Wyoming with Fed Chairman |
| 1:09.8 | J. Powell set to deliver the Speech of the Week. |
| 1:13.1 | Joining us to discuss is Thanos Van Vakidis, head of G10 FX strategy, Bank of America, |
| 1:19.4 | Merrill Lynch, and he joins us out of London. |
| 1:21.2 | Good morning to you, Thanos. |
| 1:22.4 | Good morning. For the Federal Reserve, then, in Chair Jackson. and normalizing policies has been hiking this year. The message has been consistent from Powell. |
| 1:35.8 | So from this point of view, I think what will come out this week will be consistent with this |
| 1:39.9 | normalization. But we will be looking for more color, how far the Fed can go, how the |
| 1:46.0 | balance the good data in the US we are seeing with global risks and trade tensions, and also |
| 1:52.3 | about the side effects of their policy normalization and the tightening |
| 1:56.0 | cycle on the rest of the world particularly on emerging markets. |
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