Surveillance: The Fed's Options With Kroszner
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 20 September 2019
⏱️ 27 minutes
🧾️ Download transcript
Summary
Today we start with a segment from Bloomberg Surveillance TV. Alan Ruskin, Deutsche Bank Chief International Strategist, says excess reserves in repo systems are ultimately not doing their job. Randall S. Kroszner, University of Chicago Professor and Former Federal Reserve Board Member, explains why the Fed should allow the balance sheet to continue to grow. Seema Shah, Principal Global Investors Chief Strategist, says people still have some optimism about Brexit. Ian Shepherdson, Pantheon Macro's Chief Economist & Founder, says that the trade war might actually be helping consumer spending right now. And Rett Wallace, Triton Research CEO, reviews WeWork's IPO.
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Transcript
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| 0:00.0 | Do you love Elon Musk? Do you hate Elon Musk? Do you have no idea what to think about Elon Musk? |
| 0:09.0 | Then we have just a show for you. He's become even more larger than life. |
| 0:14.4 | Buying Twitter doesn't get us closer to Mars. They are like really close to the edge of like |
| 0:18.8 | everything falling apart. Like oh Elon I, put a chip in my brain. |
| 0:23.0 | Each week on this podcast will break down, analyze, and debate the most important stories on Musk and his empire. |
| 0:30.0 | It's all one big universe. You just work for Elon Inc. From Bloomberg Business Week, this is Elon Inc. |
| 0:37.0 | listen wherever you get your podcasts. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:55.6 | Daily, we bring you insight from the best in economics, finance, investment, |
| 1:00.1 | and international relations. find Bloomberg surveillance on Apple |
| 1:04.3 | podcasts, SoundCloud Bloomberg.com and of course on the Bloomberg. |
| 1:10.3 | It has been a joy this morning to have with us Randall Krasner of the Bus School Chicago. |
| 1:15.2 | We're thrilled that the former governor of the Federal Reserve continues with us at Queen |
| 1:19.3 | Victoria Street and sitting with me in New York is Alan Ruskin, chief international |
| 1:23.4 | strategist for Deutsche Bank as well. If you could bring up this chart, we ran this by |
| 1:28.0 | Randy Crozner here moments ago, I want to run it by Alan Ruskin as well. We had QE and then we rolled over and we had |
| 1:35.7 | QT and Alan we got a new set of options based around this repo market reality. |
| 1:41.4 | One was a certitude of QT, the yellow line. One was the flat line. In the |
| 1:46.1 | new news is we may expand the balance sheet. Is that the Deutsche Bank view? |
| 1:51.2 | I think what you saw from Chairman Powell is reasonable characterization of |
| 1:55.9 | where we're at. I think it'll look and see how effective the repos are. We've got some |
| 2:00.4 | special circumstances now in terms of draining factors, you know, particularly |
| 2:04.8 | from settlements and, you know, just generally treasury balances. |
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