Surveillance: Recovery Risks With Rogoff
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 21 January 2021
⏱️ 28 minutes
🧾️ Download transcript
Summary
Alberto Gallo, Algebris Investments Portfolio Manager, discusses fiscal policy and the risks of secular stagnation. Michael Holland, Holland & Co. Chairman, says tech companies will have some comeuppance over the next year, but will overall be okay. Jane Foley, Rabobank Head of FX Strategy, warns of the risks facing policy in a period of low growth and inflation. Kenneth Rogoff, Harvard University Professor and Former IMF Chief Economist, discusses the fiscal state of the U.S. and his skepticism of Bitcoin.
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| 0:00.0 | Together we have the opportunity to build a more sustainable and inclusive future. |
| 0:06.0 | At the Bloomberg New Economy Forum, we help make this possibility a reality |
| 0:11.0 | by cultivating new connections among global leaders that transcend geographies, industries |
| 0:16.3 | and ideologies. |
| 0:18.4 | Because when global leaders work together, the outcomes benefit all of us. |
| 0:23.0 | Learn more at Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.3 | Daily, we bring you insight from the best in economics, finance, |
| 0:46.9 | investment, and international relations. |
| 0:49.7 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, on the |
| 0:56.2 | Bloomberg. |
| 0:57.2 | The Emergency Purchase Program is going to run at least through the end of March 2022. They'll reinvest that QE debt for an extended period of time |
| 1:06.6 | even after the first rate hike. So if you believe, let's just say you believe that we'll |
| 1:11.5 | get a rate hike from the ECB at some point in this cycle. |
| 1:15.5 | After that, the ECB will still be reinvesting the debt on its balance sheet that they've been |
| 1:21.0 | buying over the last year. |
| 1:23.6 | I want to bring an Alberto Gallo of Algebraists on this. |
| 1:26.4 | Alberto, the ECB is going to be in this market for a long, long time. |
| 1:32.0 | How does that shape your view on fixed income in Europe? |
| 1:34.7 | Good morning. Sometimes the most interesting things that come out of |
| 1:40.2 | Central banks are the things they don't talk about. And there's two big questions here. One is how |
| 1:47.9 | longer they're going to keep going with the emergency purchase program even after the pandemic is over and it looks like as you said |
| 1:55.5 | that that's going to be with us for a long period of time even beyond 2022 and the second one is what happens if there's another crisis. Now, interest |
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