Surveillance: This Fed Is Data Dependent, Zentner Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 9 November 2018
⏱️ 35 minutes
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Summary
Chris Rupkey, MUFG Union Bank Chief Financial Economist & Managing Director, thinks the U.S. tariffs are already having an impact on China. Stewart Patrick, CFR Senior Fellow & Director of the International Institutions and Global Governance Program, joins us to discuss the Armistice Day Centennial. Ellen Zentner, Morgan Stanley Chief U.S. Economist, thinks Powell has been a great communicator but his one misstep was when he said, "We are far from neutral." Michael Beschloss, Presidential Historian & Author of "Presidents Of War", expects a Battle Royale within the Democratic Party in the next two years.
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| 0:00.0 | With Bloomberg you get the story behind the story, the story behind the global birth rate, |
| 0:04.7 | behind your EV batteries environmental impact, behind sand. Yeah, sand, you get context. |
| 0:10.8 | And context changes everything. Go to Bloomberg.com to get context. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:28.0 | Daily, we bring you insight from the best in economics finance investment and international relations find |
| 0:35.4 | Bloomberg surveillance on Apple Podcasts soundcloud bloom And of course, on the Bloomberg. Rupke, M-U-F-G, a Union Bank chief financial economist and managing director. |
| 0:54.8 | Good morning to you, Chris. |
| 0:56.5 | So we're slow down in China, implementing lending quotas, commodities breaking down, |
| 1:00.9 | the Federal Reserve does not look like it's for turning right now. |
| 1:04.0 | What do you make of all of this put together? |
| 1:06.0 | Well I was pretty happy last night, right? |
| 1:09.0 | I mean the Dow was up 6% year to date. |
| 1:11.0 | The max it was a month ago was up 8.5% so we climbed back. I was up in |
| 1:17.8 | the black again up 6% year to date. It was only 8.5% year to date. And now what happened? The market went pear shape. |
| 1:28.0 | Got a little wobbly overnight. You have something to do with China, as you say. I don't know how this happened but it's we're only down I have you |
| 1:35.2 | I'm kind of used to the new volatility I don't want to make too much of this yeah |
| 1:39.1 | moves I want to have a look at what is happening in China specifically there is a |
| 1:42.4 | deceleration taking place. Is it made in |
| 1:45.2 | China or made in America? |
| 1:48.7 | I think the tariffs are having an impact and you know we're not all there yet right I |
| 1:57.4 | mean the the final 200 billion of tariffs has a 10% is at 10% now January 1 it goes to 25% that's 9 night and day |
| 2:07.9 | different when we put the tariffs up to 25% that's going to cause a major change in some of these import |
| 2:17.0 | export patterns. |
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