Bloomberg Surveillance

President Trump, Paul Ryan and Mitch McConnell torpedoed the bipartisan effort to pass healthcare, Senator Tim Kaine says. Prior to that, Wolfgang Ischinger, chairman of the Munich Security Conference, says there's no way that Germany, France or the U.K. can replace the leadership of the U.S. Finally, Stephen Roach, a senior fellow at Yale University, says there's a "tug of war" in China between the role of the state and the role of the markets.See omnystudio.com/listener for privacy information.

The former governor of the Bank of England, Mervyn King, talks about how the financial crisis changed the banking culture and says a market economy can't succeed with near-zero interest rates. Martin Sorrell, CEO of WPP, says the uncertainty Brexit caused has been excruciating for his company. Finally, David Rubenstein, co-CEO of the Carlyle Group, defends the liberal arts education as important in business.See omnystudio.com/listener for privacy information.

Ahead of Wednesday's Fed meeting, Russ Koesterich, a global allocation fund manager at BlackRock, discusses criticisms of the U.S. central bank and says rates aren't an ideal tool for tackling income inequality. Toby Cosgrove, the president of the Cleveland Clinic, says people must recognize the magnitude of the opiod crisis and it's up to the state and federal governments to solve it. Douglas Holtz-Eakin, the president of the American Action Forum, discusses the deficit and its disservice to the overall economy. Finally, Gary Bettman, the commissioner of the National Hockey League, says new guidelines have opened up hockey to become a game of speed and skill. See omnystudio.com/listener for privacy information.

Congress needs to disrupt its 19th-century structure, while still respecting the institution, Jane Harman, the president and CEO of the Woodrow Wilson Center, says. Willett Advisors' Steve Rattner says the existential question for Apple is what is the next act and is Tim Cook able to produce it? Finally, Princeton economist Alan Krueger discusses the connection between the opioid crisis and labor force participation.See omnystudio.com/listener for privacy information.

Hugh Hendry, the founder of Eclectica Asset Management, discusses the motivations behind the decision to close the Eclectica Fund and says the global macro game will get fun again in the future. Sen. Ben Cardin, a Democrat from Maryland, says the only way our political system will function is if Republicans and Democrats work together. Fortress Investments' Wes Edens, Marc Lasry, the founder of Avenue Capital Group and co-owner of the Milwaukee Bucks, and Jamie Dinan, the founder of York Capital Management, talk about investing in a "tough" environment and the evolution of basketball. Finally, Christopher Hill, former U.S. Ambassador to South Korea, says the U.S. and China must do more than sanctions against North Korea. See omnystudio.com/listener for privacy information.

It's embarrassing that parents have more choices of mayonnaise at the supermarket than they do schools to send their children to, Sen. John Kennedy, a Republican from Louisiana, says. Pimco's Rich Clarida says technology, trade, and immigration are working together to create anxiety for Americans. Finally, former CIA director Jim Woolsey says Russia's interference with elections isn't new--it's the cyber-tactics they're using.See omnystudio.com/listener for privacy information.

We need to focus on getting workers the skills they need for the jobs that need filling, David Herro, Harris Associates' CIO of international equity, says. Michael R. Bloomberg, founder and majority owner of Bloomberg LP, and Daniel Huttenlocher, dean of Cornell Tech, discuss the university's new campus on Roosevelt Island. Finally, Gene Munster, co-founder of Loup Ventures, says Apple is defying the laws of physics in pricing its products.See omnystudio.com/listener for privacy information.

Most Americans no longer believe the American dream applies to them, Ian Bremmer, president of the Eurasia Group, says. Peter Henry, the dean of NYU's Stern School of Business, says many are still enthusiastic about jobs in public service. Finally, the retention rate of Apple iPhone users is higher than any other product out there, Walter Piecyk, an analyst at BTIG, reports.See omnystudio.com/listener for privacy information.

Nobel winner Joseph Stiglitz, currently an economics professor at Columbia University, says if President Trump asked, he would agree to lead the Federal Reserve. Prior to that, Elaine Kamarck, a senior fellow at the Brookings Institution, says Trump seems bent on making enemies in Washington. Jonathan Miller, CEO of Miller Samuel, says 16 years after 9/11 lower Manhattan’s pace of gentrification has accelerated. Finally, Kurt Andersen, host of Studio 360, discusses his new book, Fantasyland: How America Went Haywire, tracing the Internet’s evolution as a launch pad for lies and what laid the groundwork for it.See omnystudio.com/listener for privacy information.

Mohamed El-Erian, a columnist at Bloomberg View, says the Fed is in the midst of a "beautiful normalization" and needs a team approach. Prior to that, Chuck Gabriel, founder of Capital Alpha Partners, says President Trump's deal with Democrats will only make tax reform harder. Finally, Jeffrey Solomon, president of Cowen and Co., says the research industry is at a point where excellence wins and mediocrity is eliminated. See omnystudio.com/listener for privacy information.