Bloomberg Surveillance

Arkansas Congressman French Hill says Fed governors need banking, business and a mixture of experience. Prior to that, Bruce Kasman, JPMorgan's chief economist, says the important thing to look for from the Fed is balance sheet timing. Libby Cantrill, Pimco's executive vice president, says expectations for passing legislation are unrealistic. Finally, Toby Cosgrove, CEO of the Cleveland Clinic, says he doesn't expect the health-care bill to be passed.See omnystudio.com/listener for privacy information.

Charles Plosser, the former Philadelphia Fed president, says central banks around the world have overreached and Randal Quarles's nomination would be good for the Fed board. Prior to that, Howard Ward, Gabelli Funds' CIO of growth equities, says we're in a nominal 3 percent GDP world. David Shulkin, U.S. Secretary of Veterans Affairs, says the V.A. has invested heavily in cybersecurity. Doug Bandow, a senior fellow at the Cato Institute, says North Korea's regime is evil, but not crazy. Finally, Timothy O'Brien, Bloomberg View's executive editor, says Trump is his own first and last counsel.See omnystudio.com/listener for privacy information.

Greg Valliere, Horizon Investments' chief global strategist, says Trump's "wounds" are self-inflicted by his sensitivity to criticism and inability to let the Russia story go. Prior to that, Carl Weinberg, High Frequency Economics' chief economist, says Europe inflation is under  target. Jim Barry, BlackRock's head of real assets, says the U.S. has underinvested in infrastructure for 30 to 40 years. Finally, Robert Hormats, vice chairman of Kissinger Associates, says a well-functioning global economy would make America great again.See omnystudio.com/listener for privacy information.

Bill Gross, a fund manager at Janus Henderson, says the bond market isn't in a rout yet and to expect one more Fed rate increase this year, likely in December. Prior to that, Alan Krueger, a professor at Princeton University, says the U.S. is heading toward a labor shortage economy. James Glassman, a senior economist at JPMorgan, says the jobs data for June show people are recognizing the economy's in a better position today. Finally, Max Baucus, the former U.S. ambassador to China, says foreign leaders don't know what to expect from President Trump's inconsistency.See omnystudio.com/listener for privacy information.

Robert Hormats, Kissinger Associates' vice chairman, says Russia is clearly trying to undermine stability among European countries within the NATO alliance. Barry Eichengreen, a professor at the University of California at Berkley, says the U.S. will learn how hard it is to go alone in the world. Roberto Azevedo, the director general at the World Trade Organization, says the Trump administration is still trying to figure out its trade plans. Michael Feroli, JPMorgan's chief U.S. economist, says the Fed's still following the Phillips curve tradition. Gene Munster, co-founder of Loup Ventures, says Tesla's Model 3 is a paradigm shift in e-vehicles and autonomy.See omnystudio.com/listener for privacy information.

Adam Posen, the president of the Peterson Institute for International Economics, and John Ryding, RDQ Economics' chief economist, agree to disagree on the past, present and future for Fed Chair Yellen and other bankers. Prior to that, David Folkerts-Landau, Deutsche Bank's chief economist, says the Fed will lead the way against market dangers through gradual rate increases and careful communication. Megan Greene, Manulife Asset Management's chief economist, says the Fed's painted into a corner in terms of shrinking its balance sheet. Finally, Louise Yamada, a market analyst at Louise Yamada Techresearch, says a near-term correction isn't in the horizon.See omnystudio.com/listener for privacy information.

Robert Feldman, a senior advisor at Morgan Stanley MUFG, says Shinzo Abe has an opportunity to get his party back on track and Japan wants to play a more active role against North Korea. Prior to that, Berenberg Capital Markets' Mickey Levy says global central banks are conducting policies that are inconsistent with market fundamentals. Finally, Don Katz, founder and CEO of Audible, discusses the evolution of the audio book, podcasts and Audible's relationship with Amazon.See omnystudio.com/listener for privacy information.

Harm Bandholz, Unicredit's chief U.S. economist, talks about his optimistic view of the unemployment rate and says it would be positive for the U.S. if the Eurozone strengthens. Robert Profusek, a partner at Jones Day, says the pace of deal-making isn't slowing but it's taking longer to close. Finally, Dennis Gartman, editor and publisher of the Gartman Letter, says the recent gold drop may have been caused by Venezuela selling.See omnystudio.com/listener for privacy information.

Doug Kass, president of Seabreeze Partners, says headwinds in the banking industry could be a "toxic cocktail." Prior to that, Peter Hooper, Deutsche Bank's chief economist, says the ECB will be tapering further by the end of the year. Charles Peabody, an analyst at Compass Point Research, says Jamie Dimon's tech investments have put JPMorgan at an advantage. Dan Yergin, IHS' vice chairman, says big oil will go through soul-searching. Finally, Texas Representative Kevin Brady says the Senate will resolve their differences and pass health care.See omnystudio.com/listener for privacy information.

Former Secretary of Health and Human Services Michael Leavitt says Mitch McConnell will ultimately get his 50 votes for health care but will need heavy negotiations. Prior to that, Stan Collender, Qorvis MSLGROUP's executive vice president says the CBO is stronger today than it was two months ago. Komal Sri-Kumar, founder and president of Sri-Kumar Global Strategies, says Christine Lagarde's too optimistic about the U.S. Then, Diane Swonk, CEO of Diane Swonk & Associates, says U.S. GDP is stuck at 2 percent. Finally, Brian Wieser, a senior research analyst at Pivotal Research Group, says Facebook's user growth isn't particularly meaningful.See omnystudio.com/listener for privacy information.