Bloomberg Surveillance
Bloomberg Surveillance TV: August 19, 2024
Aug 19, 2024
Amos Hochstein, Senior Advisor to the President for Energy and Investment, discusses the nuances of White House energy policy and ongoing ceasefire talks in Gaza. Steve Englander, Global Head of FX Research at Standard Chartered, analyzes the strength of the Yen and market expectations surrounding a potential rate hike from Ueda. Kelsey Berro, a Fixed Income Portfolio Manager at JPMorgan, sheds light on shifting Federal Reserve expectations in response to robust U.S. economic data, impacting investment strategies in the bond market.
23:25
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Quick takeaways
- The podcast highlights how the Federal Reserve's potential shift towards reducing policy restrictiveness is influenced by declining inflation and economic indicators.
- Experts discuss the changing dynamics between market movements and Fed communications, indicating a need for clearer strategy from the Federal Reserve amidst current conditions.
Deep dives
Federal Reserve's Easing Strategy
The Federal Reserve is contemplating a shift towards reducing policy restrictiveness as inflation levels begin to normalize. Recent data suggests that inflation has been declining and is becoming more broadly based, particularly in areas like shelter and auto insurance. This environment may prompt the Fed to consider rate cuts, potentially moving towards a policy rate of three and a half to four percent. However, it is expected that the Fed will proceed cautiously, allowing the market time to adjust based on incoming economic data rather than providing explicit guidance on the pace or magnitude of rate cuts.
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