Bloomberg Surveillance

Dana Peterson, The Conference Board Chief Economist, says there's still quite a bit of fragmentation in the economy. Phil Orlando, Federated Hermes Chief Equity Market Strategist, expects one more quarter point hike from the Fed and than a potential pause that may "last a while." Mohamed Younis, Gallup Editor-in-Chief, says nobody in the current GOP lineup is close to giving Trump "any kind of challenge." Anna Ashton, Eurasia Group Director of China Corporate Affairs and US-China, says US Commerce Secretary Raimondo's trip to China is "the most important visit we've had so far from a member of the administration."
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On Friday, Federal Reserve Chair Jerome Powell gave his much-anticipated speech at the Kansas City Fed Monetary Policy Symposium in Jackson Hole, Wyoming.

While many were expecting some kind of academic or theoretical discussion, the text was straightforwardly about the current path of monetary policy. So what did we learn? What actually happens at Jackson Hole? And how did this year's event fit in with prior years?

On this bonus episode, Odd Lots turn to Bloomberg Surveillance co-host Tom Keene and Michael McKee, Bloomberg News International Economics and Policy Correspondent.

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European Central Bank President Christine Lagarde says the central bank's data-dependency forces it to act meeting by meeting. She spoke with host Tom Keene on the sidelines of the Federal Reserve Bank of Kansas City’s annual economic policy symposium in Jackson Hole, Wyoming.

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Join Tom Keene, Jonathan Ferro and Lisa Abramowicz, live From the 2023 Jackson Hole Symposium with esteemed guests including Mohamed El-Erian of Queens' College Cambridge, Tracy Alloway of Bloomberg Odd Lots, Patrick Harker of the Philadelphia Fed, Kristalina Georgieva of the IMF and Barry Eichengreen of UC Berkeley.
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Former St. Louis Fed President Jim Bullard says the biggest question right now is of reacceleration in the US economy. Michael Darda of Roth MKM says the probability of a recession happening in the US are high. Max Kettner, HSBC Chief Multi Asset Strategist says market sentiment has turned bearish over the last two weeks.Diana Amoa of Kirkoswald Asset Management says growth outside the US is lackluster.
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Steven Ricchiuto, Mizuho Securities US Chief Economist, says there's a lot of idiosyncratic risk out there. Liz Ann Sonders, Charles Schwab Chief Investment Strategist, says this is more likely a rally in a bear market. Thierry Wizman, Macquarie Global Interest Rates and Currencies Strategist, says Fed Chair Powell could "pat itself on the back" as the US sees lower inflation and a better economy but "I don't think it's time for him to do that." Greg Valliere, AGF Investments Chief US Policy Strategist, discusses the first GOP presidential debate tonight.
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 Kathryn Kaminski, AlphaSimplex Chief Research Strategist, says a 6% 10-year yield is not crazy. Vincent Reinhart, Chief Economist and Macro Strategist Dreyfus and Mellon, says current yield levels are sustainable. Chuck Grom, Gordon Haskett Senior Retail Analyst, says we are seeing signs of a discretionary recession. David Rubenstein, Carlyle Group Co-Chairman and Co-Founder, says fixed income returns are better than a year ago.
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Julian Emanuel, Evercore ISI Chief Equity & Quantitative Strategist, says this is not an end of a bull market run, this is just a correction. Amanda Lynam, BlackRock Head of Macro Credit Research, says we are in the early stages of the distress cycle. William Lee, Milken Institute Chief Economist, says China may need to install a social safety net for their economy. Wendy Schiller, Taubman Center for American Politics Policy Director at Brown University, says Gov. Ron DeSantis has the most to gain and the most to lose at the first GOP debate, as President Trump continues to lead in polls.
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Edward Yardeni, Yardeni Research President, says the Fed can't really afford to see bond yields keep going up. Kelsey Berro, JPMorgan Asset Management Fixed Income Portfolio Manager, says this is the time to be buying fixed income. Sheila Kahyaoglu, Jefferies Senior Equity Research Analyst, discusses air travel and says domestic fares are seeing declines. Steve Pagliuca, Bain Capital Senior Advisor & Atalanta Co-Chairman, says the recent Saudi investment in football may disrupt the premier league as players see pays rise.

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James Athey, Abrdn Investment Director, says credit spread are too tight. Matthew Luzzetti, Deutsche Bank Chief US Economist, still expects a recession and for equities to come down. Susan Thornton, Yale University Law School Paul Tsai China Center Senior Fellow, says China needs households to start spending. Joe Feldman, Telsey Advisory Group Senior Research Analyst and Assistant Director of Research, discusses Walmart lifting its profit outlook on a boost from US shoppers. 

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