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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyJuly 17th, 2025
Featuring:
1) Glenn Hubbard, Dean Emeritus at Columbia Business School, talks supply side economics and how it's been put into practice by the Trump administration as well as the impact of Fed independence on the US economy. President Trump said he would send letters to more than 150 countries notifying them their tariff rates could be 10% or 15%. Trump said the rate would "be probably 10 or 15%, we haven’t decided yet" in an interview with Real America’s Voice.
2) Lakshman Achuthan, COO and co-founder at ECRI, on his new, un-released research on a forward-looking, non consensus disinflation view. US Treasuries rose for the first time in a week after better-than-estimated producer prices data soothed fears that tariff-stoked inflation will push back Federal Reserve interest rate cuts.
3) Dana Telsey, CEO and Chief Research Officer at Telsey Advisory Group, parses through today's retail sales figures.
4) Frances Donald, Chief Economist at RBC, on the US labor market and Fed independence concerns. President Trump said he's not planning to fire Jerome Powell, but added that he doesn't rule out anything, unless Powell has to leave for fraud. Trump's comments came after he ran the idea of sacking Powell by a receptive group of Republican lawmakers, and an aide said he was likely to follow through. Trump's pressure campaign against Powell is rooted in his view that the Fed is keeping interest rates too high, and he has begun the search for a successor, with his term as chair ending next May.
5) Lisa Mateo joins with the latest headlines in newspapers across the US, including a WSJ story on whether diamonds are luxury anymore and Bloomberg's report that cinemas are considering a launch of a large screen brand to challenge Imax.

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