U.S. Is An Importer, Not Exporter, Sec. Ross Says
Bloomberg Surveillance
Bloomberg
3.8 • 1.2K Ratings
🗓️ 21 June 2018
⏱️ 40 minutes
🧾️ Download transcript
Summary
Danny Blanchflower, Dartmouth College Professor of Economics, says there are no data which support a BOE rate hike. Wilbur Ross, U.S. Secretary of Commerce, thinks finding workers is the biggest problem for American industry. Daniel Yergin, IHS Markit Vice Chairman, says labor in many markets is very tight. And Susan Lund, McKinsey Global Institute Director of Research, observes corporate debt has tripled in size since the financial crisis.
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| 0:00.0 | There's so much news happening around the world that we're somehow supposed to stay on top of. |
| 0:05.5 | That's why we launched The Big Take. It's a daily podcast from Bloomberg and I Heart |
| 0:11.4 | Radio that turns down the volume a bit to give you some space to think. |
| 0:16.5 | I'm Wes Kossova. |
| 0:18.0 | Each weekday I dig into one important story and talk about why it matters. |
| 0:23.7 | Listen to the big take on the I Heart Radio app, |
| 0:26.6 | Apple Podcasts, we bring you insights. Welcome to the Bloomberg Surveillance Podcast. I'm Tom Keene. |
| 0:43.4 | Daily, we bring you insight from the best in economics, finance, investment, |
| 0:47.8 | and international relations. |
| 0:49.8 | Find Bloomberg Surveillance on Apple Apple Podcast, SoundCloud, |
| 0:53.8 | Bloomberg.com, and of course, on the Bloomberg. |
| 0:57.0 | I'm really pleased to say a friend of this program and an old friend of mine |
| 1:06.6 | Danny Blanch Flack enjoyed us now Dartmouth College Professor of Economics and |
| 1:10.2 | former member of the M. P.CPC at the Bank of England. |
| 1:14.0 | Danny, your thoughts as we switch from 7-2 to 6-3 at the BOE. |
| 1:22.0 | Well, that's really quite a surprise. So if you're Andy Halderin, you have to explain to me and to other commentators why last month and the month before you voted against the rate rise and since then the data |
| 1:35.9 | all worth every piece of data that exists has got worse. |
| 1:40.2 | So the question simply is did you make a mistake then or you make a mistake now or both? |
| 1:45.2 | The answer clearly is that the economy is flowing. |
| 1:48.4 | Industrial production figures got a bit pretty bad, no wage growth at all, Brexit having a major impact on my investment. |
| 1:57.1 | So I'm having a chance, because the decision is just tough. |
| 2:00.7 | But this is completely astonishing and how you could possibly vote for a rate rise in these circumstances seems to me to be a major puzzle |
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