Bloomberg Surveillance Bloomberg Surveillance TV: April 25, 2025
25 snips
Apr 25, 2025 
Adewale Adeyemo, former Deputy Secretary at the US Treasury, discusses market fluctuations and potential Treasury interventions to bolster the economy. Jason Thomas from Carlyle Group shares insights on the US equity market amidst ongoing trade negotiations. Adena Friedman, CEO of Nasdaq, provides an overview of recent earnings and the IPO landscape, emphasizing the cautious approach of investors in volatile times. The conversation highlights the complexities of US-China relations and the implications for future economic strategies.
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US Dollar's Uncertain Future
- The US is questioning core global system features, causing uncertainty worldwide.
- Even if the dollar remains the reserve currency, markets worry about risks on US assets.
US Fiscal Deficits Worsen With Downturn
- A US downturn could push fiscal deficits near 10% of GDP, raising borrowing costs.
- Treasury can issue debt but at higher risk premiums, challenging fiscal sustainability.
Tariffs' Prohibitive Impact
- High tariffs like 145% or even 60% are prohibitive and damage supply chains.
- Such tariffs cause severe declines in imports and empty retail shelves, hurting the economy.