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Bloomberg Surveillance

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Discussion on economics, finance and investment. Ken Prewitt and Tom Keene have the economy and the markets "under surveillance."






Trump Doesn't Have to Play Hero Role, Just a Less Destructive One, Gabriel Says

Chuck Gabriel, president of Capital Alpha Partners, says Trump doesn't have to play a heroic role, just a less destructive one. Gary Shilling, president of A. Gary Shilling & Co., says massive tax reform is due in the U.S. Finally, Jacques Rousseau, the managing director of global oil and gas at Clearview Energy Partners, says there's a disconnect in gas consumption data.

Duration: 00:36:49

Trump Is Over-Relying on Military Advice, Former U.S. Army Secretary Says

Former U.S. Army Secretary Eric Fanning says President Trump is over-relying on military advice and that his views on Afghanistan have evolved significantly. Prior to that, Conrad Dequadros, RDQ Economics' senior economist, says there's a low chance that U.S. fiscal policy will change. Finally, Lawrence Korb, the former assistant secretary of defense, says Trump's policy on Afghanistan risks inciting terrorists.

Duration: 00:34:09

Trump Should Apologize for Charlottesville Comments, Former GM CEO Says

Former GM CEO Dan Akerson says President Trump can win back peoples' good will with good deeds. Prior to that, Nathan Sheets, chief economist at PGIM Fixed Income, says Mario Draghi will probably focus on international economic issues at Jackson Hole. Brad Blakeman, a Republican strategist, says it's now up to Trump to unite the country. Finally, Grover Norquist, president of Americans for Tax Reform, says Steven Bannon's tax proposal was the "stupidest, dumbest and more destructive" idea...

Duration: 00:43:57

Authorities Knew Barcelona Attack Site Was Vulnerable, Klausen Says

Jytte Klausen, a professor at Brandeis University, says terror attacks in Europe reflect failures by local officials. Jim Glassman, JPMorgan Chase's commercial banking head economist, says the Fed needs to hold high ground. John Hudak, a senior fellow at the Brookings Institution, says President Trump still has a lot of tacit support. Finally, Mitch Lowe, the CEO of MoviePass, says cinemas must ramp up their security.

Duration: 00:36:11

America Suffers From 'History Deficit Disorder,' Brinkley Says

Douglas Brinkley, a historian and professor at Rice University, says there's a fierce hatred between Americans. Prior to that, Senator Benjamin Cardin, a Democrat from Maryland, says more people need to speak out against President Trump. David Herro, Harris Associates' CIO of international equity, says there are still opportunities in Italian banks. Republican Representative David Reichert says Trump's Charlottesville remarks were concerning. Finally, Chuck Robbins, the CEO of Cisco, says...

Duration: 00:51:14

Wal-Mart Is Killing Small-Town America More Than Amazon, DeLong Says

Brad DeLong, an economics professor at Berkeley, says Wal-Mart, not Amazon, is killing small-town America. Prior to that, New Jersey Representative Bill Pascrell, a Democrat, says Republicans are afraid to stand up to Trump. Sebastien Galy, a macro strategist at Deutsche Bank, says wages will eventually rise. Finally, Michael Barone, the author of "The Almanac of American Politics," says Democrats and Trump are both behaving irrationally.

Duration: 00:43:35

It's Been Difficult to Get Inflation to Move, Soss Says

Neal Soss, Credit Suisse's vice chairman of global fixed income, says it's been difficult to get inflation to move and politics is a distraction to markets. Prior to that, Gideon Rose, the editor of Foreign Affairs magazine, says the U.S. isn't Venezuela and President Trump won't bring this country down. Then, Admiral James Stavridis, the dean of the Fletcher School at Tufts University, says he has enormous respect for John Kelly and communicates with him often.

Duration: 00:38:56

White Supremacy Granted a Place at American Political Table, Ricks Says

Thomas Ricks, a Pulitzer-prize winning author, says U.S. political turmoil is reminiscent of the 1930s. Prior to that, Douglass Kass, founder and partner at Seabreeze Partners, says he expects Twitter to be part of a much larger company by next year. Fred Hochberg, the former chairman of Export-Import Bank of U.S., says the future of the Democratic party will be with the young and millennials. Finally, Michael Mullen, the former chairman of the Joint Chiefs of Staff, says Trump hasn't left...

Duration: 00:40:52

'The Heat Is On' Goldman Sachs, Mayo Says

Mike Mayo, Wells Fargo's head of U.S. large-cap bank research, says the heat is on Goldman Sachs and that he expects to see a jump in Citigroup shares. Prior to that, Doug Bandow, a senior fellow at the Cato Institute, says bluff and bluster doesn't help the U.S. Then, Jeffrey Rosenberg, BlackRock's chief fixed-income strategist, says inflation reports matter to the Fed as it's looking for transitory weakness. Finally, Diane Swonk, founder of DS Economics, says inflation data from...

Duration: 00:50:26

Fed Will Face Questions if Inflation Stays Low, Konstam Says

Dominic Konstam, Deutsche Bank Securities' global rates research head, says the Fed will face questions if inflation stays low and says that fiscal reform may raise potential U.S. growth. Frank Keating, the former governor of Oklahoma, says Trump must be a cheerleader for his agenda. Former Assistant Secretary of State Mark Kimmitt says the U.S. needs to meet Kim Jong-un capability-for-capability and word-for-word so that he's no longer a threat to the region. Finally, Austan Goolsbee, a...

Duration: 00:49:05

Democratic Party Needs to Focus on Economic Growth, General Clark Says

General Wesley Clark, the former NATO Allied Supreme Commander, says the Democratic party needs to focus on economic growth. Prior to that, Ted Alden, a senior fellow at the Council on Foreign Relations, says China is North Korea's primary trade partner and sanctions will squeeze North Korea's economy to a degree we haven't seen in the past. Michael Nathanson, a senior research analyst at MoffettNathanson, says cable companies may shift the profit they made from TV to profit from...

Duration: 00:33:34

Ackman's ADP Fight Is Diverting the Business, Cooperman Says

Leon Cooperman, chairman and CEO of Omega Advisors, talks about Bill Ackman's plans for Automatic Data Processing Inc. Prior to that, Martin Sorrell, CEO of WPP, says China is becoming a major technological force. Then, Jared Bernstein, a senior fellow at the Center on Budget Policy, says the U.S. tax codes are just too complex.

Duration: 00:43:45

No Risk of Inflation Taking Off, Posen Says

Adam Posen, president of the Peterson Institute for International Economics, says the Fed is in a period of "normal" difficulties. Prior to that, Kevin Logan, HSBC's chief U.S. economist, says the Fed is on course to begin its disinvestment policy. Deborah Lehr, a senior fellow at the Paulson Institute, says there's concern about China's abilities to combat North Korea. Finally, Alexia Howard, a senior research analyst at Sanford Bernstein, says Mondelez is struggling in emerging markets.

Duration: 00:51:40

Gary Cohn Says to Expect More Deregulation

White House economic adviser Gary Cohn says there's more deregulation to come. Prior to that, Jim Glassman, a senior economist at JPMorgan, says U.S. benchmarks we used to have are obsolete. Mohamed El-Erian, a Bloomberg View columnist, says Euro gloom has given way to Euro optimism. Alan Krueger, a professor at Princeton University, says technology isn't a job-killer. Finally, Bill Gross, a fund manager at Janus Henderson, says real interest rates are a problem.

Duration: 00:50:00

Amazon/Whole Foods Deal Is a 'Net-Net Win,' Kantor Says

Neuberger Berman's Charles Kantor discusses the Amazon/Whole Foods deal and also says GE's Jeff Immelt performed well for his company. Peter Westaway, Vanguard Asset Services' chief European economist, says the slightly dovish message from the BOE is appropriate. Finally, Michael Chertoff, former U.S. Secretary of Homeland Security, says the scale of cyberattacks will grow.

Duration: 00:31:45

Volcker Rule Is Cumbersome, Goldman Sachs CEO Blankfein Says

Lloyd Blankfein, Goldman Sachs' chairman and CEO, and Michael Bloomberg, founder and majority owner of Bloomberg LP, discuss banking regulation and the impact on business. Prior to that, Credit Suisse's Matthew Rothman and JPMorgan's Gabriela Santos share lessons learned 10 years after the financial crisis. Finally, James Stavridis, the dean of Fletcher School at Tufts University, says General John Kelly is all about duty.

Duration: 00:42:46

Intesa Sanpaolo Is a Solid and Undervalued Bank, Herro Says

David Herro, Harris Associate's CIO of international equity, says the European economy is finally seeing a spark. Prior to that, Christopher Grisanti, founder of Grisanti Capital Management, says the Discovery-Scripps deal is desperation not to be left behind. Charles Gabriel, founder of Capital Alpha Partners, says the health-care bill is "mostly dead." Finally, PIMCO's Joachim Fels says Trump is winning the "cold currency war."

Duration: 00:49:34

GOP Has Been Compromised by Protectionism, Sen. Jeff Flake Says

Arizona Senator Jeff Flake says many people are concerned about President Trump's chaotic White House atmosphere. Prior to that, Michael Shaoul, CEO of Marketfield Asset Management, says 2017 may be the best year for markets since 2009. Wendy Schiller, the chair of political science at Brown University, says established Republicans don't want to work for Trump. Russ Koesterich, a money manager at BlackRock, says OPEC isn't in control. Finally, Dennis Gartman, editor of the Gartman Letter,...

Duration: 00:59:15

Americans Deserve Thorough Consideration of Tax Reform, Doggett Says

Tim Adams, President and CEO of the Institute of International Finance, said we can still get a deal on tax reform in fourth quarter of 2017 or first quarter of 2018. George Bory, Wells Fargo Head of Credit Strategy, said he thinks bond yields will go up a bit and is looking to protect bond price returns. Steven Friedman, BNP Paribas Senior Economist, said consumers will continue to drive economic growth. Rep. Lloyd Doggett (D-TX) House Ways and Means Tax Policy Subcommittee Ranking...

Duration: 00:54:44

Randy Quarles is Ideal Choice for Fed Job, Clarida Says

Bob Nardelli, Former Chrysler & Home Depot CEO & Chairman, said rolling back restrictions and lowering corporate tax rates will help companies stay in the U.S. and make money. Richard Clarida, PIMCO Strategic Advisor, said the U.S. inflation picture can turn on a dime. Robert Tipp, PGIM Fixed Income's Chief Investment Strategist, said volatility is low during rate hike cycles because the Fed has a lot of control.

Duration: 00:31:26

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