Bloomberg Surveillance

Bloomberg Surveillance TV: April 16, 2024

Apr 16, 2024

PGIM CEO David Hunt predicts inflation will remain high for longer, while Apollo Chief Economist Torsten Slok discusses the 'sugar high' from Fed Chair Powell's pivot. Mohamed El-Erian warns of threats to US exceptionalism from higher oil prices or a tight Fed policy.

25:41

Creator website

Episode guests

Mohamed El-Erian

Torsten Slok

David Hunt

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Episode notes

Podcast summary created with Snipd AI

Quick takeaways

US exceptionalism hinges on policy management and market conditions like oil prices and federal rates.

Global economic growth outlooks diverge with the US displaying robust growth and inflation challenges.

Financial conditions impact market dynamics, creating a 'sugar high' and challenging the Federal Reserve's policy balancing act.

Deep dives

US Exceptionalism: Policy and Inherent Attributes

The podcast discusses the concept of US exceptionalism, highlighting two key elements contributing to this status. Firstly, the US displays higher flexibility, labor force participation, and entrepreneurial spirit, supported by loose fiscal policies and investments in future growth drivers. These factors combine to create a robust engine driving US exceptionalism, with sustainability tied to effective policy management and market conditions like oil prices and federal rates.

Introduction

2min

Factors Driving US Exceptionalism and Federal Reserve Policy Challenges

7min

Discussion on Chairman Powell's Communication, Market Update, and Business Gold Card Benefits

2min

Shifting Trends in Fixed Income Investments and Global Economic Outlook

9min

Asset Management and Economic Trends in Japan

2min

Fed's Financial Policy Impact on Market Trends

7min

Speculation on Rate Cuts and Economic Trends

2min

-David Hunt, PGIM CEO
-Torsten Slok, Apollo Partner and Chief Economist
-Mohamed El-Erian, Queens' College, Cambridge President & Bloomberg Opinion columnist

PGIM CEO David Hunt says 'bonds are back' and predicts inflation will remain higher-for-longer. Apollo Chief Economist Torsten Slok says Fed Chair Powell's December pivot has markets riding a 'sugar high' driving accelerations in inflation. Mohamed El-Erian, Queens' College, Cambridge President, says the theme of US exceptionalism could be threatened by higher oil prices or a 'Fed that's too tight.'

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