Surveillance: Fed Needs To Act Soon, Darda Says

Bloomberg Surveillance

Bloomberg

Investing, Business News, News, Business

3.8 • 1.2K Ratings

🗓️ 28 February 2020

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike Darda, MKM Partners Chief Economist & Macro Strategist, says central banks, by doing nothing, are actually allowing financial conditions to tighten. Bob Michele, JPMorgan AM CIO and Head of Global Fixed Income, Currency & Commodities, says to expect central rate cuts across the globe. Steve Wieting, Citi Private Bank Global Chief Investment Strategist, says fiscal easing is needed to avoid damaging economic potential in times of crisis. Erik Nielsen, Unicredit Group Chief Economist, says there is little monetary policy can do to offset a supply shock. Jim Bianco, Bianco Research President and Macro Strategist, says the coronavirus might be a bigger deal than the financial crisis.

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0:00.0	Business stories aren't just about business. They're also about policy, politics, finance, and more.
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0:22.0	Find it in the Apple App Store or on Google Play.
0:24.7	Bloomberg in-car apps are sponsored by interactive brokers. Welcome to the Bloomberg Surveillance Podcast, I'm Tom Keene.
0:40.0	Daily, we bring you inside. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene.
0:43.5	Daily, we bring you insight from the best
0:45.9	in economics, finance, investment,
0:48.1	and international relations.
0:49.8	Find Bloomberg Surveillance on Apple Podcasts SoundCloud, Bloomberg.com, and of course, on the
0:56.4	Bloomberg.
0:57.4	Right now we are really going to dive into not only the market response, but what the market
1:01.7	is saying to the Fed.
1:03.8	With us is Michael Darda of MKM partners,
1:07.5	his work particularly on demand and supply dynamics
1:11.1	across the greater economy out of Wisconsin or near legendary for such a
1:15.8	young guy. We're going to talk to him now because he is an outlier with
1:20.5	Mr. Kachal Dakota of Minnesota on what a Fed needs to do and Michael your basic
1:25.4	theme is it's not a Fed in a static environment this is dynamic economics and Cotul Lakota is correct. They've got a cut because it's a moving target right now for the Fed on real rates.
1:39.0	That's exactly right, Tom. So by doing nothing, the Central Banks are doing something. They're actually allowing
1:46.2	monetary conditions to tighten because if you have a big shock to confidence in the neutral
	...

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