Surveillance: Fed Hawkishness with Dudley
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 10 January 2022
⏱️ 44 minutes
🧾️ Download transcript
Summary
Bill Dudley, Bloomberg Opinion Columnist, Bloomberg Economics Senior Advisor and Former New York Fed President, says the Federal Reserve needs to get a lot more hawkish. Lori Calvasina, RBC Capital Markets Head of U.S. Equity Strategy, says the painful repricing we're seeing in markets still has a ways to go. Albert Bourla, Pfizer CEO, says investment in MRNA technology is a top priority. Francisco Blanch, Bank of America Commodities Research Head, expects to see triple digit oil in the second quarter. Dan Kurtz-Phelan, Foreign Affairs Editor, discusses the challenges China's President Xi is facing.
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Transcript
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| 0:00.0 | Is inflation finally on the retreat? Can labor markets withstand an economic slowdown and demographic |
| 0:05.8 | headwinds? Will the tense geopolitical climate ease or escalate? This is the Outthinking |
| 0:11.3 | Investor. Join us as we re-examine the past, present-day opportunities and future possibilities |
| 0:18.3 | in global capital markets. The Outthinking Investor, an award-winning |
| 0:23.2 | podcast from PGIM. This podcast is intended solely for professional |
| 0:27.1 | investor use. Past performance is not a guarantee of future results. |
| 0:35.1 | Welcome to the Bloomberg surveillance podcast I'm Tom Keane along with Jonathan Ferrell and Lisa |
| 0:41.1 | Abramowitz. Daily we bring you insight from the best and economics finance |
| 0:46.3 | investment and international relations find Bloomberg surveillance. An Apple podcast |
| 0:51.8 | sun cloud, Bloomberg.com and of course on the Bloomberg terminal. |
| 0:59.0 | We are going to stop the show right now. John Ferrell, Lisa Abramowitz and myself. We welcome |
| 1:03.5 | all of you on radio and TV to maybe the first great discussion of the year. William Dudley is not |
| 1:09.8 | the normal economist. Yes, his work at Goldman Sachs out of Berkeley, but Farmore is tenure at the |
| 1:15.3 | New York Federal Reserve and he has been very overt in writing, not weekly, but pretty much |
| 1:22.4 | twice monthly for Bloomberg opinion. And today he issues without question his most scathing |
| 1:28.7 | essay on where our central bank is. Bill, what's it like to write with that language of a |
| 1:35.9 | remarkable and surreal fed economics? Are you getting criticism from inside the fed? |
| 1:43.5 | I'm sure it doesn't make people there happy, but the reality is I got to call it like I see it. |
| 1:48.7 | And what I see right now is a Federal Reserve that has a very benign forecast relative to what's |
| 1:53.8 | actually happening on inflation. If you look at their forecasts, if they published at the |
| 1:57.8 | December F on C meeting, they have inflation melting away to 2.1% in 2024, even though they don't |
| 2:04.8 | take monetary policy to a tight setting. The end of 2024, the federal fund rates 2.1% below |
... |
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