Surveillance: We Are Not Late Cycle, Clarida Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 1 November 2019
⏱️ 57 minutes
🧾️ Download transcript
Summary
Ellen Zentner, Morgan Stanley Chief U.S. Economist, expects to see business investment improve before the consumer cracks. Jeffrey Rosenberg, BlackRock Financial Senior Portfolio Manager, says a stronger than expected jobs report eases concerns of manufacturing uncertainty. Richard Clarida, Federal Reserve Vice Chairman, says the economy is in the trend of range growth. And Lawrence Kudlow, National Economic Council Director, says phase one trade talks are not complete but are going well.
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| 0:00.0 | The media alone can't ease the tensions that come from the debate surrounding the issues we deal with every day. |
| 0:05.7 | However, we can create spaces where people can freely kick the tires of their preconceived notions. |
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| 0:22.4 | how you change things. |
| 0:23.6 | Context changes everything. |
| 0:25.6 | Start exploring our opinion coverage and more at Bloomberg.com slash subscribe. Welcome to the Bloomberg surveillance podcast. I'm Tom Keene. |
| 0:43.6 | Daily, we bring you insight from the best in economics, finance, investment, and international |
| 0:48.9 | relations. |
| 0:49.9 | Find Bloomberg Surveillance on Apple Podcasts, SoundCloud, Bloomberg.com, and of course, |
| 0:56.2 | on the Bloomberg. |
| 0:57.7 | Right now, Ellen, Zener, with us with Morgan Stanley. |
| 1:00.1 | Ellen, we've got a lot of focus on the American labor economy but I want to get your |
| 1:04.4 | recall because you've been so good about lower GDP if you take the consumer and |
| 1:10.4 | X them out was this a 0% economy in the last 90 days? |
| 1:15.0 | No, not a 0% economy, but I mean it's clear that the consumer has been propping up the |
| 1:21.1 | economy, which is good because it's 70% of our economy, but, you know, economists |
| 1:26.5 | always like better balanced growth. |
| 1:28.7 | We wish the growth wasn't just being driven by, say, the consumer and and housing and I think we will get better |
| 1:35.1 | balanced growth next year but that's going to hinge importantly on whether |
| 1:38.8 | trade policy is less uncertain and global growth is a bit stronger and I know those are too big ifs but if you |
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