Bloomberg Surveillance Single Best Idea with Tom Keene: Ed Yardeni
Feb 14, 2025
Dive into expert analyses of market trends and economic sentiment as key indicators signal optimism. Discover insights on low unemployment and rising GDP, alongside the Federal Reserve's evolving stance on interest rates. The conversation also revisits the historical Smoot-Hawley tariff, highlighting its impact on global trade and the importance of presidential discretion in tariff policies. Join the discussion on the potential for future negotiations aimed at lowering tariffs.
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Episode notes
Fed Policy Assessment
- Yardeni argues the Federal Reserve has achieved its dual mandate and has no reason to lower interest rates further.
- He notes bond yields have risen as the Fed lowered rates, suggesting agreement with his assessment.
Roaring Twenties Now
- Ed Yardeni believes the "Roaring Twenties" are happening now, with the economy in a "nirvana norm."
- He points to low unemployment, rising real GDP, and manageable inflation as evidence.
Tariff Optimism
- Ed Yardeni is optimistic about tariffs, believing the current approach will lead to lower tariffs overall.
- He contrasts the current "reciprocal" approach with the Smoot-Hawley Tariff Act of 1930, which led to a world depression.