Bloomberg Surveillance

Bloomberg Surveillance TV: May 15, 2024

May 15, 2024

JPMorgan and PGIM experts discuss cooling inflation's impact on Fed policy. Former House Speaker delves into Biden admin, Trump campaign, and foreign policy. Podcast analyzes US economy, Fed's monetary outlook, market trends, inflation factors, and US-China trade relations.

25:30

Creator website

Episode guests

David Kelly

Tom Porcelli

Kevin McCarthy

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Cooling inflation gives Fed flexibility with interest rates, potentially leading to a rate cut in July.

US-China trade policies under Biden administration compared to Trump's administration, highlighting bipartisan views on China.

Deep dives

Moderation in the US Economy

The US economy is showing signs of moderate growth and inflation moderation. Despite inflation taking time to decrease, it is on a downward trend towards 2%. Reports on job openings, consumer sentiment, and retail sales indicate a moderation trend, forecasting around 2% economic growth with inflation easing towards 2%.

Introduction

2min

Federal Reserve's Monetary Policy Outlook

5min

Market Perspective and Financial Planning Solutions

2min

Analyzing Economic Data and Inflation Trends

7min

Consumer Confidence, Spending Behavior, and Inflation Expectations Discussion

1min

U.S.-China Trade Relations and Foreign Policy Strategies

9min

Political Analysis and Election Predictions with Mention of Potential VP Candidates

3min

-David Kelly, JPMorgan Chief Global Strategist
-Tom Porcelli, PGIM Fixed Income Chief US Economist
-Kevin McCarthy, Fmr. House Speaker

JPMorgan's David Kelly and PGIM's Tom Porcelli react to the April CPI print and retail sales data, agreeing that the cooling inflation gives the Fed flexibility on their path forward with interest rates. Former House Speaker Kevin McCarthy discusses the Biden administration, Donald Trump's campaign, and US foreign policy.

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