Bloomberg Surveillance

Tom Porcelli, RBC Capital Markets Chief U.S. Economist, says we're not yet at full employment. Ted Alden, Council on Foreign Relations Senior Fellow & Author of "Failure To Adjust: How Americans Got Left Behind In The Global Economy," defines a trade war as tit for tat tariff retaliation outside the rules of the trading system. Elisa Martinuzzi, Bloomberg's EMEA Finance & Investing ME, updates us on political events in Italy. Bill Gross, Janus Henderson Fund Manager, defends his strategy that was widely criticized earlier this week. Alan Krueger, Princeton Professor & Former Council of Economic Advisers Chairman under President Obama, recaps his routine when he previewed jobs numbers for the White House. Jason Furman, Harvard Professor & Former White House Council of Economic Advisers Chairman, says the biggest constraint on U.S. wage growth is its lack of productivity growth. See omnystudio.com/listener for privacy information.

Luigi Zingales, Chicago Booth School Finance Professor, thinks people underestimate how devastated Italy is by its economic situation.Donald Straszheim, Evercore ISI Head of China Research, thinks China sees Washington as unreliable and untrustworthy.Gina Martin Adams, Bloomberg Intelligence Chief Equity Strategist, says small cap stocks have outperformed tremendously.Catherine Mann, Citi Research Global Chief Economist, advises we can't be protectionist on the side of trade and welcome international capital flows. Gerard Cassidy, RBC Capital Markets Analyst, jumps on the phone to review the latest Deutsche Bank news. See omnystudio.com/listener for privacy information.

Paul Donovan, UBS Chief Economist, says by and large, Europe has emerged from the recession but there are persisting problems. Sony Kapoor, Re-Define Managing Director, says far too many Euro-related policies are driven by Germany's economic weight. Megan Greene, Manulife Asset Management Managing Director & Chief Economist, says the Fed does not want to be in the headlines for rising inequality in the U.S. Michael Feroli, JP Morgan Securities Chief U.S. Economist, is unsure of where we are in the business cycle but think it's safe to say we're not early in it. See omnystudio.com/listener for privacy information.

Jeff Rosenberg, BlackRock Chief Fixed Income Strategist, says his EM view has changed quite a bit in the past few months.Stefan Selig, BridgePark Advisors Managing Partner & Former Under-Secretary of Commerce for International Trade, says it makes no sense to think of our trade deficit as a scorecard. Dean Curnutt, Macro Risk Advisors CEO, says there's certainly a risk that the dollar continues to rise.Diane Swonk, Grant Thornton Chief Economist, is concerned about the accumulation of debt in the U.S. economy.See omnystudio.com/listener for privacy information.

Christian Schulz, Citi Economics Team Director, says there's plenty of reasons to believe Spanish has become a semi-core Eurozone country. Thomas Byrne, Korean Society President & Columbia University SIPA Professor, says North Korea is a black box but thinks their economy is in trouble. Robert Kaplan, Dallas Fed President, and Michael McKee, Bloomberg's International Economic & Policy Correspondent, review the U.S. economy. Margaret Brennan, CBS Face the Nation Host, says there is no unified message on trade from the Republican or Democratic parties. See omnystudio.com/listener for privacy information.

Richard Bravo, Bloomberg News EU Government Editor, and Julian Jessop, Institute of Economic Affairs Chief Economist, talk Europe's confusion over the U.S. administration's mercurial trade policy. Alison Williams, Bloomberg Intelligence Senior Banks Analyst, wraps the Deutsche Bank Shareholder Meeting earlier today.Geoff Dennis, UBS Investment Bank Head of Global Emerging Markets, says the dollar will go back down eventually and that will change sentiment for EM. Scott Mushkin, Wolfe Research Senior Retail Analyst & Managing Director, suggests Target should increase their food offerings to stay afloat. Craig Gordon, Bloomberg News Washington Bureau Chief, jumps on the phone to talk the breaking headlines: President Trump has cancelled his summit with North Korea's Kim See omnystudio.com/listener for privacy information.

Hans Redeker, Global Head of FX Strategy at Morgan Stanley, gives us an overview of dollar strength and the slump in Turkish lira.  Isaac Boltansky, Compass Point Research Policy Research Managing Director, says the new Dodd-Frank legislation is a modest, narrowly-tailored bill. Don Gimbel, Geneva Advisors Portfolio Manager, predicts there's a couple of years left in this economic cycle. Nabila Ahmed, Bloomberg News Deals Reporter, says Comcast is one of the most indebted American companies. See omnystudio.com/listener for privacy information.

Bill Blain, Mint Partners Fixed Income Strategist & Head of Capital Markets, says he's positive about the U.S.-China trade riffs in the long-term. Tim Armstrong, Oath Inc. CEO, says consumers are flocking to quality content right now. David Kirkpatrick, Techonomy CEO & Founder, offers Facebook some advice: be more transparent. Poonam Goyal, Bloomberg Intelligence Senior Analyst, reviews Marvin Ellison's run as CEO at J.C. Penney per the announcement he's headed to Lowe's. See omnystudio.com/listener for privacy information.

Carl Weinberg, High Frequency Economics Chief Economist & Managing Director, thinks President Trump's mercantilist approach to trade is off. Bill Schneider, George Mason University Professor & Political Analyst, says the flavor of populism is resentment of elites. Patricia Laya, Venezuela Bureau Chief, says many of the voting centers in Venezuela were empty yesterday. Kevin Tynan, Bloomberg Intelligence Senior Analyst, joins us to talk the new $78,000 price tag on Tesla's Model 3. See omnystudio.com/listener for privacy information.

Chad Bown, Peterson Institute for International Economics Senior Fellow, & Enda Curran, Bloomberg's Chief Asia Economics Correspondent, discuss the impact of President Trump's steel and aluminum tariffs. Marc Chandler, Brown Brothers Harriman Senior Vice President of New York & Head of Currency, says a trade war is not easy to win and it is not desirable. Francine Lacqua, Bloomberg Surveillance TV Anchor & Editor at Large, joins us from Rome to report on the general elections this coming Sunday. Jeffrey Sachs, Columbia University Professor & Nobel Laureate, says the new tariffs are one of the most reckless policies that one can imagine.See omnystudio.com/listener for privacy information.