Bloomberg Surveillance Single Best Idea with Tom Keene: Robert Kaplan & Ed Yardeni
Oct 28, 2025
In this insightful discussion, Robert Kaplan, former president of the Dallas Fed, shares his expert views on the Federal Reserve's upcoming decisions, hinting at a potential end to quantitative tightening and a December rate cut. He emphasizes the importance of managing inflation, which remains a challenge. The conversation also dives into the societal implications of AI and how to support those displaced by technological change. Kaplan and economist Ed Yardeni both express optimism about corporate adaptability and the bullish prospects for the market.
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Fed Nearing Neutral, Keeps Optionality
- Robert Kaplan expects the Fed to pause QT and signal potential rate cuts while keeping optionality for December.
- He views inflation as still above target but thinks the Fed is nearing a neutral stance.
Conversation On AI And Workers
- Tom Keene described his interview with Robert Kaplan about AI's impact on workers as one of the year's best conversations.
- He highlighted the show's focus on helping people left behind by AI and praised Kaplan's insights.
Bull Market Fueled By Expected Fed Eases
- Ed Yardeni remains bullish and expects further Fed cuts that will fuel the equity rally toward much higher S&P targets.
- He thinks the economy doesn't really need additional stimulus but that easing will support higher stock prices.