Surveillance: The Phillips Curve Is Still In Play, Posen Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 17 January 2019
⏱️ 35 minutes
🧾️ Download transcript
Summary
Arthur Levitt, Former SEC Chairman, remembers John Bogle's legacy. Jane Foley, Rabobank Head of FX Strategy & Senior Currency Analyst, says the fundamentals of both the euro and the dollar are deteriorating. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, talks how U.S. banks were forced to become bank holding companies after the crisis. Simon French, Panmure Gordon Chief Economist, compares the economic outlook in the U.S. and Europe. Adam Posen, PIIE President and former member of BOE Monetary Policy Committee, says the Phillips curve is definitely still in play.
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| 0:43.5 | Daily, we bring you insight from the best |
| 0:45.9 | in economics, finance, investment, |
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| 0:49.8 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com. And of course, |
| 0:53.0 | soundcloud, Bloomberg.com, and of course, on the Bloomberg. |
| 0:57.0 | This is without question the interview of the day and I should say Arthur in |
| 1:09.4 | immense honor Arthur Leavitt who you know he comes on, chairman of the, former chairman of the SEC, |
| 1:16.0 | Arthur Leavitt leveled the playing field for the individual investor in the vicinity of the |
| 1:21.4 | 70s and into the 1980s and he did it with John Bogle. |
| 1:26.4 | Arthur you wrote the forward for the clash of the cultures, |
| 1:30.8 | investment versus speculation for John Bogle. He changed how all of us think of money, didn't he? |
| 1:38.0 | Yes, he did. He was a real master in terms of understanding the costs of money, |
| 1:48.0 | something frequently overlooked by investors, |
| 1:51.5 | particularly with respect to mutual funds. Those fees that are up front and seem |
| 1:58.1 | so minute are so massive in terms of their implication of loss or gain. |
| 2:05.0 | And Bogle was the one who pioneered that. |
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