Bloomberg Surveillance

Steve Chiavarone, Federated Hermes Portfolio Manager, says the stay-at-home recession in most parts of the world has ended. Robert Tipp, PGIM Fixed Income Chief Investment Strategist, says it will take a very long time to get incomes elevated although consumption is at a record level. Bob Doll, Nuveen Chief Equity Strategist & Senior Portfolio Manager, says the U.S. no longer has the interest rate advantage. Garlin Gilchrist, Lieutenant Governor of Michigan and Democratic National Committee Vice Chair, says Joe Biden and Kamala Harris are running on the most progressive agenda for opportunity and racial equity that any president has ever run on. Carla Freeman, Johns Hopkins SAIS Foreign Policy Institute Executive Director, discuss how a Biden-Harris administration might impact U.S.-China relations.See omnystudio.com/listener for privacy information.

John Bolton, Former U.S. National Security Adviser to President Trump, says that the U.S. needs to make sure that Russia stays of out Belarus. Michael Shaoul, Marketfield Asset Management CEO & Portfolio Manager, expects the physical global economy to do much better than the global services economy. Leslie Vinjamuri, Chatham House Director of the U.S. and Americas Programme, says the goal of the Democratic National Convention is to get voters excited about the Biden/Harris ticket, not just to defeat President Trump. Marta Wosińska, Duke-Margolis Center for Health Policy Deputy Director of Policy, says individuals who are not in high-risk demographics will probably not receive a Covid-19 vaccine until the spring of 2021.See omnystudio.com/listener for privacy information.

David Bailin, Citi Private Bank Chief Investment Officer, says corporate earnings and global liquidity will provide a tailwind for stocks going forward. Michael Gapen, Barclays Chief U.S. Economist, says several more months of fiscal benefits would be helpful to the economy before it can be self-sustaining. David Riley, BlueBay Asset Management Chief Investment Strategist, says it will be difficult for Europe to sustain a strong recovery because it is still dependent on global growth and trade. Lupin Rahman, PIMCO Global Head of EM Sovereign Credit, says the Covid-19 pandemic has been a liquidity shock for the bulk of emerging markets.See omnystudio.com/listener for privacy information.

Tony Dwyer, Cannacord Genuity Chief Market Strategist, says a negative feedback loop will become great enough that lawmakers in Washington will reach a stimulus deal. Lisa Hornby, Schroder Investment U.S. Fixed Income Portfolio Manager, says there is a tremendous dislocation between where markets are trading today and what the underlying economy tells us. Leland Miller, China Beige Book CEO, says the chances of seeing a broad-based solution regarding President Trump's ban of WeChat is quite low. Ian Lyngen, BMO Capital Markets Head of U.S. Rates Strategy, says the recent spike in Covid-19 cases has not flowed through the labor market yet. Jason Furman, Harvard Professor and Former Chairman of the Council of Economic Advisers during the Obama Administration, says it is unlikely that an economic stimulus deal from Congress will be reached this month.See omnystudio.com/listener for privacy information.

Jared Woodard, BofA Securities Research Investment Committee Head, expects continued volatility in markets until there is compromise on stimulus measures in Washington. Harry Tchilinguirian, BNP Paribas Head of Commodity-Markets Strategy, believes there will be another gold rally in 2021. James Bevan, CCLA Chief Investment Officer, says equities will grind higher from here. Jeffrey Wright, Eurasia Group U.S. Analyst, says Kamala Harris was the safe pick for Joe Biden’s running mate. Anna Han, Wells Fargo Securities Equity Strategist, says cyclicality will be the winning play over the longer term.See omnystudio.com/listener for privacy information.

Tony Crescenzi, PIMCO Generalist Portfolio Manager, says it is best to look toward the U.S. and Asia in terms of investing in equity markets over the next five years. Diane Swonk, Grant Thornton Chief Economist, says the need for another fiscal stimulus package is now a matter of "life and death." Henrietta Treyz, Veda Partners Director of Economic Policy Research, believes the odds of Republicans and Democrats compromising on an economic stimulus package have decreased. Admiral James Stavridis, Bloomberg Opinion Columnist and Former Supreme Allied Commander at NATO, discusses the life and legacy of Brent Scowcroft.See omnystudio.com/listener for privacy information.

Daniel Alpert, Westwood Capital Managing Partner, says the fourth quarter could reveal a financial crisis trickled from a systemic one due to households not being able to pay their rent and mortgages. Mark Zandi, Moody’s Chief Economist, says the unemployment rate will be around fourteen percent rather than ten once individuals who have stepped out of the workforce return. Diana Amoa, JPMorgan Asset Management Senior Portfolio Manager, says broad dollar dynamics matter for emerging market currencies across Asia and Europe.Dr. Jonathan Quick, The Rockefeller Foundation Managing Director of Pandemic Response, Preparedness, and Prevention, says we don't have herd immunity yet.See omnystudio.com/listener for privacy information.

Larry Kudlow, National Economic Council Director, says virus relief talks are stalemated. Jeff Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says today's payrolls report gives ammunition for another round of fiscal support. Danny Blanchflower, Dartmouth College Professor of Economics, says although nonfarm payroll numbers are positive, we need to watch underemployment figures. Tiffany Wilding, PIMCO Chief U.S. Economist, says this stronger-than-expected jobs report heightens the focus on the negotiations over another stimulus bill.See omnystudio.com/listener for privacy information.

Kit Juckes, Societe Generale Chief Market Strategist, says the dollar cannot weaken further unless emerging market economies are stabilized. Andrew Bailey, Bank of England Governor, says negative rates remain in their toolbox. Neil Dutta, Renaissance Macro Research Head of Economics, says we should expect labor market activity to accelerate in August. Marilyn Watson, BlackRock Head of Fundamental Fixed Income Strategy, says technology and communications are overweight right now because investors are looking for places to put their money. Piotr Matys, Rabobank Emerging Markets Strategist, says a weaker Lira is going to have significant inflationary consequences for Turkey.See omnystudio.com/listener for privacy information.

Ian Bremmer, Eurasia Group President, says the United States is much less interested in the Middle East than before because it is now the world's largest energy producer. Andrew Sheets, Morgan Stanley Chief Cross-Asset Strategist, says you can expect to see a sustainable economic recovery in the next six to twelve months. Senator Bill Cassidy, Republican from Louisiana, says Dr. Fauci's positions on lockdown measures are evolving as we understand the scope of the pandemic. Sarah Hindlian, Macquarie Analyst, says there are legitimate concerns of consumer data collection regarding TikTok given the tensions between the U.S. and China. Jacob J. Lew, Former U.S. Treasury Secretary, discusses the politics behind negotiations on the next round of U.S. stimulus.See omnystudio.com/listener for privacy information.

Frances Donald, Manulife Investment Management Global Chief Economist, says inflation may be coming more from deglobalization and large fiscal spending rather than monetary policy.Geoffrey Yu, BNY Mellon Senior Strategist, says markets are pricing in yield curve control. John Ryding, Brean Capital Chief Economic Advisor, says we may still have an unemployment rate above 9% by the end of this year. Michael Nathanson, MoffettNathanson Founding Partner and Senior Research Analyst, explains how TikTok could become Microsoft's deal of the decade.See omnystudio.com/listener for privacy information.

Robert Kaplan, Federal Reserve Bank of Dallas President, says the U.S. unemployment rate will likely be above 9% if we don't do a better of managing the virus. Catherine Mann, Citi Global Chief Economist, says there will be a higher rise to inflation than markets are currently expecting. Ethan Harris, BofA Securities Head of Global Economic Research, says the size, speed and targeted nature of the next U.S. fiscal stimulus package are all of paramount importance. Leslie Vinjamuri, Chatham House Director of the U.S. and Americas Programme, says Democrats have a strong incentive to hold out on stimulus measures during the negotiating process with Republicans.See omnystudio.com/listener for privacy information.

Bloomberg Markets magazine is out with a special issue focused on diversity, where black men and women share their experience on Wall Street. There's no universal experience, but their stories reflect what it's like, and what it means, to be just one of a handful of black faces in finance. Bloomberg Radio and Television Correspondent Sonali Basak contributed to the issue and brings us more in this special report. See omnystudio.com/listener for privacy information.

Jonathan Golub, Credit Suisse Chief U.S. Equity Strategist, says the gap between the technology companies dominating the market and everything else will continue to widen. Troy Gayeski, Skybridge Capital Co-CIO, says asset reflation is here. Seema Shah, Principal Global Investors Chief Strategist, says a second virus wave is the main reason to buy bonds. Dan Ives, Wedbush Securities Managing Director of Equity Research, says Apple will reach a two trillion dollar market cap by the end of the year.See omnystudio.com/listener for privacy information.

Raghuram Rajan, University of Chicago Booth School Professor and Former Reserve Bank of India Governor, says the Fed will be as supportive as possible but will resist negative interest rates. Michelle Meyer, BofA Securities Head of U.S. Economics, says the leisure and hospitality sector has been one of the hardest hit industries as a result of the pandemic. David Kelly, JPMorgan Asset Management Chief Global Strategist, says the U.S. unemployment rate will be greater than 10% heading into 2021. Arun Sundararajan, NYU Stern School of Business Professor, says the real solution in regards to the tech industry will be self-regulation.See omnystudio.com/listener for privacy information.

Jim McKelvey, Square Co-Founder, Author of "The Innovation Stack," and St. Louis Federal Reserve Deputy Chair, discusses how much regulation Congress should wield over large tech companies. Jill Carey Hall, BofA Securities U.S. Equity Strategist, says she is cautious on the upside of U.S. markets because there could be payback risk from stimulus measures. Priya Misra, TD Securities Global Head of Rates Strategy, says the recent dollar weakness has been a result of the market listening to the Fed. Dennis Gartman, Retired Editor of The Gartman Letter, says gold has become a little too crowded. Al Broaddus, Former Richmond Fed President, weighs in on Fed policy as Congress works on fiscal aid.See omnystudio.com/listener for privacy information.

Charles Plosser, Former Philadelphia Fed President, says the Fed needs to declare its independence and regain control of monetary policy. Tobias Levkovich, Citi Chief U.S. Equity Strategist, says investors are chasing momentum. Chris Krueger, Cowen Washington Research Group Managing Director, says the crux of the phase four fiscal stimulus bill is the split between lawmakers over unemployment benefits. Kathy Hochul, New York Lieutenant Governor, stresses the urgent need for greater federal stimulus in New York. Matt Winkler, Bloomberg Editor-in-Chief Emeritus, discusses the rise of socially conscious investing amid the coronavirus pandemic.See omnystudio.com/listener for privacy information.

Pat Foye, MTA Chairman and CEO, says not funding the MTA will stunt and thwart economic recovery and job creation all over New York. James Sweeney, Credit Suisse Chief Economist, says the incremental slowdown in the U.S. was caused by a surge in virus cases, but forecasts a strong double digit increase in third-quarter GDP. Alicia Levine, BNY Mellon Investment Management Chief Strategist, says it is wise to be cautiously bullish in this current market. Doug Kass, Seabreeze Partners President, discusses the factors that could send us into a bear market this year.See omnystudio.com/listener for privacy information.

Richard Haass, Council on Foreign Relations President, says there is a possibility of broad sanctions between the U.S. and China amid rising tensions. Valdis Dombrovskis, European Commission Executive Vice President, says the EU is willing to cooperate with the U.S. in a multi-lateral strategy to deal with China. Peter Oppenheimer, Goldman Sachs Chief Global Equity Strategist, says the rebound in the third quarter is going to look very V-shaped. Betsey Stevenson, Bloomberg View Columnist and Former U.S. Department of Labor Chief Economist, says studies show that investing in early childcare development reaps huge returns for taxpayers. Sam Kennedy, Boston Red Sox President and CEO, looks ahead to the team's first game back in Fenway Park since before the start of the pandemic.See omnystudio.com/listener for privacy information.

William Dudley, Bloomberg Opinion Columnist and Former New York Federal Reserve President, says if there is no extension of unemployment benefits there will be consequences in consumer spending. Ralph Schlosstein, Evercore Co-Chairman and Co-CEO, says the most important thing for every company to look at is liquidity. Meredith Sumpter, Eurasia Group Head of Research Strategy & Operations, expects the U.S. to continue escalation with China after the closure of the Chinese consulate in Houston. Admiral James Stavridis, Bloomberg Opinion Columnist and Former Supreme Allied Commander at NATO, says the greatest challenge facing the U.S. in this century is China.See omnystudio.com/listener for privacy information.

Adena Friedman, Nasdaq President & CEO, says the SEC has done an excellent job at managing the responsibility of disclosure obligations. Francisco Blanch, Bank of America Head of Global Commodities & Derivatives Research, says gold has been the biggest beneficiary from the reflation story. Michael Zezas, Morgan Stanley Head of U.S. Public Policy Research & Municipal Credit Strategy, expects an agreement in Washington over the next wave of U.S. stimulus within three weeks. Sir Howard Davies, NatWest Group Chairman, discusses the implications of rising U.S.-China tensions against the backdrop of a fragile economic environment.See omnystudio.com/listener for privacy information.

Carlos Gimenez, Miami-Dade County Mayor, says a new stimulus package will prevent the closure of many businesses and restaurants. Deborah Fuller, University of Washington School of Medicine Microbiology Professor, says a number of coronavirus vaccines are indicating positive results, but there are still several more steps before one will be widely available to the public. Chris Van Hollen, Democratic Senator from Maryland, says the nominee for the Federal Reserve should not be a political rubber stamp for the president. Paolo Gentiloni, EU Commissioner for Economic and Financial Affairs, discusses the details of the landmark European stimulus package worth 750 billion euros.See omnystudio.com/listener for privacy information.

David Malpass, World Bank President, says developing countries are under immense debt pressure in the midst of a global pandemic. Jason Furman, Harvard Kennedy School Professor of the Practice of Economic Policy, says the current recession is unlike the last financial crisis because there has been a V-shape recovery in consumer spending. Carsten Nickel, Teneo Intelligence Managing Director for Europe, says EU leaders joining together to create a recovery fund is politically transformative. Dan Ives, Wedbush Securities Analyst, says Amazon and Google seem to be the technology companies most susceptible to regulatory risk in the next year.See omnystudio.com/listener for privacy information.

Abigail Wozniak, Federal Reserve Bank of Minneapolis Opportunity & Inclusive Growth Institute Director & Senior Research Economist, says it is imperative for small and medium-sized businesses to receive continual support. Brian Levitt, Invesco Global Market Strategist, says a protracted U-shaped recovery could be sufficient for the equity market. Wolfgang Munchau, Eurointelligence Director, says it would be reckless to think that the proposed EU virus stimulus is the beginning of the end of the European debt crisis. Mike Mayo, Wells Fargo Securities Senior Bank Analyst, gives the banks a B+ for the second quarter.See omnystudio.com/listener for privacy information.

Geoffrey Okamoto, IMF First Deputy Managing Director, says certain sectors are not going to be as economically viable if their business models can't adapt to the structural changes caused by the coronavirus pandemic. Julian Emanuel, BTIG Chief Equity & Derivatives Strategist, says a NASDAQ retraction of 10 percent could be a healthy development in the long-term. Alberto Gallo, Algebris Investments Head of Macro Strategies, expects central banks to remain stuck in quantitative easing for a very long time. Julia Coronado, Macropolicy Perspectives Founder & President, says the U.S. economic outlook could take a turn for the worse again as some states increase virus restrictions.See omnystudio.com/listener for privacy information.

Patrick Harker, Philadelphia Fed President, says the economy can't get back to full throttle until we get the virus under control. Paschal Donohoe, Ireland Finance Minister, says big digital companies like Apple need to be taxed fairly and effectively. Dan Tannebaum, Oliver Wyman Partner, says investors evacuating the Hong Kong market at this point would be acting prematurely. Jared Woodard, Bank of America Securities Head of Research Investments Committee, says investors should start taking a peak at European banks for potential dividends.See omnystudio.com/listener for privacy information.

George Rusnak, Wells Fargo Co-Head of Global Fixed Income Strategy, says the fiscal and monetary stimulus injected into the U.S. economy is necessary but will cause challenges over time. David Bianco, DWS Investment Management Chief Investment Strategist of Americas & Head of U.S. Equities, says the American financial system is sound, despite a few challenges. Gina Martin Adams, Bloomberg Intelligence Chief Equity Strategist, says everybody focuses on the yield curve when they should be looking at the lack of revenue growth. Chris Verrone, Strategas Research Partners Head of Technical Analysis, says the signal from credit markets is a more important indicator for investors than the daily virus count.See omnystudio.com/listener for privacy information.

Binky Chadha, Deutsche Bank Chief Global Strategist & Head of Asset Allocation, says need rates to start going up in order for cyclicals to perform. Mike Pyle, BlackRock Global Chief Investment Strategist, says he has confidence in European policy ahead of the EU Summit's proposed recovery fund. Lewis Alexander, Nomura Securities Chief U.S. Economist, says China's economy can't expand unless the rest of the world recovers and export demand picks up. Marta Wosinska, Duke-Margolis Center for Health Policy Deputy Director of Policy, says there are certain states in the U.S. where in-person learning can occur safely this fall.See omnystudio.com/listener for privacy information.

Vitor Gaspar, IMF Director of Fiscal Affairs, says global debt is at some of the highest levels in history. Jim Paulsen, Leuthold Weeden Capital Management Chief Investment Officer, says U.S. markets are experiencing an expansion in a new bull market. Mohamed El-Erian, Allianz Chief Economic Advisor, says the migration of layoffs from small to large companies is causing an economic shift. Helane Becker, Cowen Senior Research Analyst, says up to 200,000 airline industry employees could lose their jobs in the fourth quarter.See omnystudio.com/listener for privacy information.

Rob Waldner, Invesco Advisers Chief Strategist of Fixed Income & Head of Multi-Sector, says investors should do their homework before investing in assets that are dependent on economic recovery. Jill Carey Hall, Bank of America U.S. Equity Strategist & Head of U.S. SMID Cap Strategy, says small cap companies were a lot worse positioned before Covid-19 than before previous recessions. Michael Gapen, Barclays Chief U.S. Economist, says the service sector has only recovered about one-third of its lost jobs. Jason Farley, Johns Hopkins Nursing Professor, describes how antibody testing can help us determine a more accurate Covid-19 infection rate.See omnystudio.com/listener for privacy information.

Ebrahim Rahbari, Citigroup Global Markets Global Head of FX Analysis & Content, says Brexit uncertainty will inevitably weigh on sterling and that the currency has found its bottom. Rep. Patrick McHenry, U.S. House Financial Services Committee Ranking Republican, says a tapering down of unemployment benefits may help in safely getting America's workforce back to normal. Ron Kirk, Former U.S. Trade Representative, says U.S. trade tariffs have compromised our ability to access the tools we need to fight Covid-19. Austan Goolsbee, University Of Chicago's Booth School of Business Professor, says the economies in the U.S. and Sweden will have a hard time recovering if the virus is not contained soon.See omnystudio.com/listener for privacy information.

This is a special Bloomberg Surveillance podcast with our Chief Washington Correspondent Kevin Cirilli. Kevin spent the day talking to officials in the halls of the West Wing and we're putting those conversations together for you in this special podcast.See omnystudio.com/listener for privacy information.

James Athey, Aberdeen Standard Investments Director, says it's very difficult for the world economy to thrive without the success of the United States. Isaac Boltansky, Compass Point Director of Policy Research, says Congress will likely roll out $1.5 trillion on subsequent stimulus spending. Jordan Rochester, Nomura FX Strategist, says U.S. growth will underperform the Eurozone this year, driving a weaker dollar. Ed Morse, Citigroup Global Head of Commodity Research, outlines opportunities in oil and natural gas.See omnystudio.com/listener for privacy information.

Andrew Sheets, Morgan Stanley Chief Cross Asset Strategist, says the expectation of U.S. Fiscal stimulus is what is propelling economic expansion. Catherine Mann, Citi Global Chief Economist, explains why she thinks the codependency between the U.S. & China has turned negative. Kathy Hochul, New York Lieutenant Governor, says there is no coronavirus recovery for the United States without the recovery of New York. Alicia Levine, BNY Mellon Chief Investment Strategist, expects the next stimulus bill to surpass one trillion dollars because of the resurgence of virus cases in the south.See omnystudio.com/listener for privacy information.

Larry Kudlow, National Economic Council Director, says the shape of the next relief package is still up in the air. Jeffrey Rosenberg, BlackRock Portfolio Manager of the Systematic Multi-Strategy Fund, says the fiscal policy support for financial markets is being funded in the treasury market. Jay Bryson, Wells Fargo Chief Economist, says big employment gains may be behind us as states reverse or halt reopening efforts. Keith Lockhart, Boston Pops Conductor, looks ahead to this year's socially-distanced Fourth of July Fireworks Spectacular.See omnystudio.com/listener for privacy information.

Ambassador John Bolton, Former U.S. National Security Advisor & Author of "The Room Where it Happened,” says Trump's evolving explanation makes the U.S. ripe for the type of Russian interference that’s being alleged. Vasileios Gkionakis, Banque Lombard Odier & Cie FX Strategist, says the ingredients for a dollar downside are falling into place. Jan Loeys, JPMorgan Long-Term Investment Strategy Senior Adviser, says investors shouldn't be frustrated about short-term volatility between bond and equity markets. Stacey Widlitz, SW Retail Advisors President, says if retail companies shift to an appointment based format, they will see lower spending margins and increase overall returns online.See omnystudio.com/listener for privacy information.

Liz Ann Sonders, Charles Schwab Chief Investment Strategist, says the economic recovery is more likely to look like rolling W’s than a V. Jes Staley, Barclays CEO, says the M&A market will not come back to major banks for a long time. David Lebovitz, JPMorgan Global Market Strategist, says the market has been standing on a three-legged stool: virus case growth, the outlook for economic reopening and the trajectory of corporate profits. Steven Major, HSBC Global Head of Fixed Income Research, says the banking system is financing the Fed's asset purchases through an increase of money it has recently absorbed. Tom Forte, DA Davidson & Co Senior Research Analyst, says Amazon could exit 2020 with a unionized labor force.See omnystudio.com/listener for privacy information.

Tony Dwyer, Cannacord Genuity Equity Strategist, says the Fed can't fix exponential doubt in credit markets with infinite debt. Dr. Jonathan Quick, The Rockefeller Foundation Managing Director of Pandemic Response, Preparedness and Prevention, says leaders need to get more consistent in their coronavirus messaging. Dan Gelber, Mayor of Miami Beach, says the greatest concern for local governments is getting citizens to abide by federal instructions to slow the spread of coronavirus. Tiffany Wilding, PIMCO Chief Economist, says we will see a fiscal cliff in July if Congress does not create financial stimulus support for Americans.See omnystudio.com/listener for privacy information.

Anna Han, Wells Fargo Equity Strategist, the domestic political risk in the U.S. looks under-priced heading towards an election cycle. Brent Schutte, Northwestern Mutual Chief Investment Strategist, says the Fed want you to take risk and will continue to try to get you to take risk. Kenneth Leon, CFRA Global Director of Industry & Equity Research, says projected loan losses for July could top $700 million. Brad Setser, Council on Foreign Relations Senior Fellow, describes how the Covid-19 pandemic is shifting geopolitical dynamics around the globe. Tim Adams, Institute of International Finance President and CEO, discusses the U.S. Stress test results.See omnystudio.com/listener for privacy information.

Adam Neumann had a vision: to make his startup WeWork a wildly successful company that would change the world. He convinced thousands of other people -- customers, employees, investors -- that he could make that dream a reality. And for a while, he did. He was one of the most successful startup founders in the world. But then, in the span of just a few months, everything changed.Foundering is a new serialized podcast from the journalists at Bloomberg Technology. This season, we’ll tell you the story of WeWork, a company that captured the startup boom of the 2010s and also may be remembered as a spectacular bust that marked the end of an era.Catch the first two episodes of Foundering, now available on Apple Podcasts, Spotify, or wherever you listen.See omnystudio.com/listener for privacy information.

LeBron James, Los Angeles Lakers Basketball Player & SpringHill Co. Chairman, discusses the impact he has felt from the "Black Lives Matter" movement. Mark Howard, BNP Paribas Senior Multi-Asset Specialist, says there could be a rally in yields during the fourth quarter. Sébastien Page, T. Rowe Price Global Multi-Asset Division Head, says now is not the time to be the hero between value and growth stock investments. Mario Gabelli, Gabelli Funds Co-Chief Investment Officer for value investments and GAMCO chairman and CEO, says corporate issuance is putting a lid on the market.See omnystudio.com/listener for privacy information.

Lisa Shalett, Morgan Stanley Wealth Management Chief Investment Officer, says a pickup in capital spending intentions is a reason to remain bullish on the U.S. recovery. Michelle Meyer, Bank of America Head of U.S. Equities, says the U.S. economy is starting to approach healing and recovery phase. Henrietta Treyz, Veda Partners Director of Economic policy, says Congress is still stalled on both stimulus and infrastructure spending. Shahab Jalinoos, Credit Suisse Global Head of FX Strategy, says the nominal rate of the dollar does not offer any significant yield pickup. Daniel Boulud, Chef & Restaurateur, says fine dining is suffering at the moment, but its not dead due to Covid-19.See omnystudio.com/listener for privacy information.

Jim Bullard, St. Louis Fed President, says there are more questions than answers about yield curve control right now. Jonathan Golub, Credit Suisse Chief U.S. Equity Strategist, says government action has massively prevented the amount of company bankruptcies throughout this recession. Megan Greene, Harvard Kennedy School Senior Fellow, says it will be difficult to avoid a double dip recession without state and local funding from the federal government. Chris Krueger, Cowen Managing Director, describes how crucial the November election will be for President Trump.See omnystudio.com/listener for privacy information.

William Dudley, Former New York Federal Reserve President and Bloomberg Opinion Columnist, warns that a $10 trillion Fed balance sheet could be coming, but says the risks seem manageable for now. James Sweeney, Credit Suisse Chief Economist, says housing inflation is likely to put pressure on U.S. inflation. Patrick Foye, MTA Chairman & CEO, describes the health precautions being taken in the New York City subway system as the city moves into phase 2 of its reopening plan. Jane Foley, Rabobank FX Strategist, says if the markets stay optimistic due to central bank funding, the dollar will suffer.See omnystudio.com/listener for privacy information.

Sadiq Khan, London Mayor, warns the recession the U.K. is facing could turn into a depression. Torsten Slok, Deutsche Bank Chief Economist, says the Fed was correct in stabilizing financial markets, but the debt loads of companies have increased. Kathy Hochul, New York Lieutenant Governor, says New York City's economic return is an important part of the comeback for the entire nation. Bob Michele, JPMorgan Asset Management CIO and Head of Global Fixed Income, says the real yield has been a causality of this economic crisis.See omnystudio.com/listener for privacy information.

Leland Miller, China Beige Book International CEO, says loan demand will be the absolute key thing to watch in China for the next three or four months. Kate Moore, BlackRock Head of Thematic Strategy for the Global Allocation Team, expects investors to ride the risk wave heading into the election cycle. Bob Crandall, Former American Airlines CEO, says it will be a long time before the airline industry sees as much business travel as they did pre-Covid-19.Dr. Vivian Lee, Verily Life Sciences President of Health Platforms & Author of "The Long Fix: Solving America's Health Care Crisis with Strategies," says testing asymptomatic people will be a critical component in getting people back to work. Craig Gordon, Bloomberg Washington Bureau Chief, says the current national poll numbers between Joe Biden and President Trump will narrow towards the election.See omnystudio.com/listener for privacy information.

Kevin Warsh, Former Federal Reserve Governor, says the Fed acted with overwhelming force to shelter the U.S. economy from Covid-19. Richard Haass, CFR President, says American alliances may not survive a two-term Trump presidency. Edward Morse, Citigroup Global Head of Commodity Research, says supply actions will continue to dominate the oil market. Julia Coronado, Macropolicy Perspectives Founder, says the Fed's forecast of 10% unemployment by year's end is not unreasonable. Mike Wilson, Morgan Stanley Chief U.S. Equity Strategist, says the rate of change in equity markets will continue to be positive for the rest of the year. Barry Eichengreen, University of California Berkeley Professor, Barry Eichengreen, University of California Berkeley Professor, discuses “the political scar of epidemics."See omnystudio.com/listener for privacy information.

Eugene Scalia, U.S. Secretary of Labor, says we are making real headway on the employment picture. Mike Feroli, JPMorgan Chief U.S. Economist, says further stimulus would be insurance against a relapse into more economic weakness. Dr. Peter Hotez, Baylor College of Medicine Dean, says a widely distributed Covid-19 vaccine will not be ready by the end of this year. Kenneth Rogoff, Harvard University Public Policy and Economics Professor, says negative interest rates should absolutely still be on the table. Anne Richards, Fidelity International CEO, says dividend cuts by companies are not all permanent, but some will be.See omnystudio.com/listener for privacy information.

+Steve Sadove, Former Saks CEO & Mastercard Senior Adviser, says retail is in a reset period and a lot of stores will go under. Alan Ruskin, Deutsche Bank Chief International Strategist, says the U.S. government has done a remarkable job in front-loading policy easing on both the fiscal and monetary sides. George Magnus, University of Oxford Research Associate, says the production side of China's economy is recovering well, but the demand side has not been. Stephen Gallo, BMO European Head of FX Strategy, says the medium-term growth outlook will be heavily shaped by the success or failure of government intervention.See omnystudio.com/listener for privacy information.

Mohamed El-Erian, Allianz Chief Economic Adviser & Bloomberg Opinion Columnist, sees a check mark-shaped recovery subject to a lot of volatility. Dean Curnutt, Macro Risk Advisors CEO, says a lower VIX index is part of the Fed's playbook. Jeremy Stein, Harvard Professor of Economics, says having a strong, capitalized banking sector will help economic recovery in the next year. Kathy Hochul, New York Lieutenant Governor, says New York's reopening has been going phenomenally well across the state.See omnystudio.com/listener for privacy information.