Bloomberg Surveillance

Willem Buiter, Citi Special Economic Adviser, says the trade relationship between the U.S. and China is part of a wider new Cold War. George Goncalves, Nomura Securities Managing Director & Head of Americas Fixed Income Strategy, thinks the bond market is nervous about a downturn. Laura Davison, Bloomberg Tax Reporter, says only Democrats in the North East are addressing the new limit on federal deductions for state and local tax payments. Liz Ann Sonders, Charles Schwab Chief Investment Strategist, sees a greater risk of an earnings recession than an economic recession. See omnystudio.com/listener for privacy information.

Marilyn Watson, BlackRock Head of Global Fundamental Fixed Income Strategy, and Edmund Shing, BNP Paribas Global Head of Equity & Derivatives Strategy, discuss dollar strength. Bill Lee, Milken Institute Chief Economist, says economic dynamism lessens social problems. Gideon Rose, Foreign Affairs Magazine Editor, says social democracy is the price of avoiding socialism. Austan Goolsbee, University of Chicago's Booth School of Business Robert P. Gwinn Professor of Economics, reflects on U.S.-China relations. See omnystudio.com/listener for privacy information.

Angel Gurria, OECD Secretary General, says he is not predicting a recession. Catherine Mann, Citi Research Global Chief Economist, says even the U.S. cannot escape the global slowdown. Gary Shilling, A. Gary Shilling President, says strong economic growth brings income polarization. Miranda Carr, Haitong International China Macro Strategist, says nobody is expecting a final deal between the U.S. and China by March 1. See omnystudio.com/listener for privacy information.

David Bailin, Citi Private Bank Global Head of Investments, says bond guys tend to have it right. Greg Valliere, Horizon Investments Chief Global Strategist, thinks the Republicans are less divided than the Democrats. David Stubbs, JPMorgan Global Market Strategist, says the U.S. economy will slow significantly in 2020. Margaret Brennan, Face the Nation Host, says President Trump remains very confident on his convictions despite being embattled. See omnystudio.com/listener for privacy information.

Adam Posen, Peterson Institute for International Economics President, says the BOE's Monetary Policy Committee members have much more independence than the members of the FOMC. Danny Blanchflower, Dartmouth College Professor of Economics, says it is tough days to be a forecaster at the BOE's MPC. David Malpass, World Bank President Nominee, is optimistic that more progress can be made on extreme poverty. Gina Martin Adams, Bloomberg Intelligence Chief Equity Strategist, says fair value for the S&P is still a big higher than current levels. See omnystudio.com/listener for privacy information.

Kevin Cirilli, Bloomberg News Chief Washington TV & Radio Correspondent, shares his takeaways from Pres. Trump's second State of the Union address. Rep. Chuck Fleischmann (R-Tennessee), says Trump is exceedingly popular in his district. James Stavridis, Former NATO Supreme Allied Commander & Bloomberg Opinion Columnist, discusses U.S. foreign policy under the current administration. Julia Coronado, Macropolicy Perspectives President & Founder, brings us an update on U.S. markets and the Fed. Cheryl Bolen, Bloomberg Government White House Reporter, says Stacey Abrams discussed many of the same themes as the SOTU in her Democratic response. See omnystudio.com/listener for privacy information.

Gene Frieda, PIMCO Global Strategist, and Therese Raphael, Bloomberg Opinion Columnist, discuss why markets don't price in the scenario of a no-Brexit. Richard Haass, Council on Foreign Relations President, says Trump has remade the Republican party. Brian Jacobsen, Wells Capital Management Chief Portfolio Strategist, says one of the cardinal rules of successful investment is diversification and patience. Doug Kass, Seabreeze Partners President, expects the spend line of Disney to ramp up, causing the share price to stumble. See omnystudio.com/listener for privacy information.

In an exclusive interview with Tom Keene, Bill Gross announces his retirement and reveals his plans for the future. See omnystudio.com/listener for privacy information.

Bruce Kasman, JPMorgan Chief Economist & Managing Director of Global, notes that the Fed seems to be in an extended pause. Jonathan Golub, Credit Suisse Securities Chief U.S. Equity Strategist, doesn't see the U.S. going into recession. Margaret Brennan, Face the Nation Host, previews her interview with President Trump. Mike Wilson, Morgan Stanley Chief U.S. Equity Strategist, says price momentum makes people feel more bullish. See omnystudio.com/listener for privacy information.

Charles Kantor, Neuberger Berman Long Short Fund Senior Portfolio Manager, says there's not a lot of inflation in the Fed data due to the impact of technology and globalization. Mary Lovely, Peterson Institute Senior Fellow, emphasizes that there is a will to get something done between the U.S. and China. Rich Greenfield, BTIG Technology, Media & Telecom Analyst, believes that Instagram will be a bigger business than Facebook in totality long-term. Chuck Leavell, Musician and Mother Nature Network Co-Founder, shares his experience working with music legends. See omnystudio.com/listener for privacy information.

Anna Edwards, Bloomberg News Anchor, gives us an update on Brexit negotiations. Stephen Stanley, Amherst Pierpont Chief Economist, says markets are still talking about recession. Randy Kroszner, University of Chicago Professor & Former Fed Governor, discusses whether the tight labor market could lead to inflation. Deborah Lehr, Paulson Institute Vice Chairman, expects some kind of framework trade deal between the U.S. and China. Al Broaddus, Former Federal Reserve Bank of Richmond President, says Former Fed officials Ben Bernanke and Janet Yellen did a great job handling the 2008 financial crisis. See omnystudio.com/listener for privacy information.

Troy Gayeski, SkyBridge Capital Partner, says the U.S. economy is the most isolated from other markets. Jeff Currie, Goldman Sachs Head of Commodities Research, favors oil out of the cyclical commodities. Will Power, Baird Senior Research Analyst, says Apple can capitalize on the 1.4 billion active devices they have globally. Julia Coronado, President & Founder of Macropolicy Perspectives, says she will focus on balance sheet comments in tomorrow's Fed meeting. And Admiral James Stavridis, Former NATO Supreme Allied Commander Europe, says Brexit is bad news for NATO. See omnystudio.com/listener for privacy information.

Tony Dwyer, Canaccord Genuity Chief Market Strategist, is more focused on the Fed than on trade tensions. Stewart Patrick, Council on Foreign Relations Senior Fellow, doesn't see a new global hegemon on the horizon. Diane Swonk, Grant Thornton Chief Economist, expects data to confirm that in the fourth quarter, we were in solid footing. Dean Curnutt, Macro Risk Advisors CEO, says current volatility comes from a mix of both micro and macro trends. See omnystudio.com/listener for privacy information.

Marty Schenker, Bloomberg Chief Content Officer, says the indictment of Roger Stone is not related to the crime but the cover-up. Maxim Oreshkin, Russia's Economy Minister, says oil is not a story for Russia anymore. Ricardo Hausmann, Harvard's Kennedy School of Government Professor, says Venezuela's Juan Guaido has massive support. Shannon O'Neil, Council on Foreign Relations Senior Fellow for Latin America Studies, says we should be watching what happens with the protests in Venezuela. See omnystudio.com/listener for privacy information.

Herbert Diess, Volkswagen CEO, is optimistic about trade. Jason Bordoff, Columbia University Professor and Former Special Assistant to President Obama, says we need to move much faster to a clean energy transition. Nadia Calviño Santamaría, Spanish Economy Minister, says the Spanish economy will grow above the EU average in 2019. Mark Rutte, Netherlands Prime Minister, says the economy has to deliver to the people. Jens Stoltenberg, NATO Secretary General, warns that Russia is not complying with the INF Treaty. See omnystudio.com/listener for privacy information.

Christine Lagarde, IMF Managing Director, ranks trade tensions as the top risk for the global economy. Brian Moynihan, Bank of America CEO, says economic data in December were strong enough for a rate rise. Stephen Pagliuca, Bain Capital Co-Chairman, thinks the key in this private equity environment is to be selective. Scott Minerd, Guggenheim CIO, explains the impact of ETFs becoming a bigger player in markets. See omnystudio.com/listener for privacy information.

John Normand, JPMorgan Head of Cross-Asset Fundamental Strategy, Morris Reid, Mercury LLC Partner, and Tony Gardner, Former U.S. Ambassador to the EU, discuss their expectations for the World Economic Forum starting Monday in Davos. Julian Emanuel, BTIG Chief Equity & Derivatives Strategist, expects favorable news regarding an easing of sanctions to Chinese imports. Pippa Malmgren, H Robotics Co-Founder & Former U.S. Presidential Advisor to President George W. Bush, shares her optimist outlook for the world economy. Roger Bootle, Capital Economics Founder & Chairman, says Europe would be better off without the euro. See omnystudio.com/listener for privacy information.

Laura Cha, Hong Kong Exchange Chair, says there's a lot the Chinese government can do in opening up the financial market. Mohammed Barkindo, OPEC Secretary General, says the Organization is transparent as a fishbowl. Arne Sorenson, Marriott International CEO, thinks Democrats and Republicans ought to arrive at a consensus on immigration. Amin Nasser, Saudi Aramco CEO, says the company is in discussions to acquire 70% of SABIC. George Osborne, London Evening Standard Editor and Former Chancellor of the Exchequer, thinks it's not acceptable for the U.K. to leave the EU without a deal. See omnystudio.com/listener for privacy information.

Arthur Levitt, Former SEC Chairman, remembers John Bogle's legacy. Jane Foley, Rabobank Head of FX Strategy & Senior Currency Analyst, says the fundamentals of both the euro and the dollar are deteriorating. Gerard Cassidy, RBC Capital Markets Head of U.S. Bank Equity Strategy & Large Cap Bank Analyst, talks how U.S. banks were forced to become bank holding companies after the crisis. Simon French, Panmure Gordon Chief Economist, compares the economic outlook in the U.S. and Europe. Adam Posen, PIIE President and former member of BOE Monetary Policy Committee, says the Phillips curve is definitely still in play. See omnystudio.com/listener for privacy information.

Charles Peabody, Portales Partners LLC President, recaps U.S. bank earnings with us. Lord Robert Skidelsky, House of Lords Member, says David Cameron landed the U.K. in the Brexit mess without adequate preparation. Chuck Robbins, Cisco Chairman and CEO, says the migration to cloud is driving their growth. Baroness Helena Kennedy, House of Lords Member, says the DUP have Theresa May "by the tail" over the Northern Ireland border agreement. See omnystudio.com/listener for privacy information.

Sonali Basak, Bloomberg Investment Banking Reporter, joins us to break JPMorgan's earnings. Brian Levitt, Oppenheimer Funds Senior Investment Strategist, says the U.S. is slowing back to trend. Ken Leon, CFRA Global Director of Research, says to be cautious on banks. Victoria Hewson, Institute of Economic Affairs' International Trade & Competition Unit Senior Counsel, discusses trade scenarios under Brexit. John B. Taylor, Stanford University Professor of Economics, does not think the government shutdown will impact the economy. See omnystudio.com/listener for privacy information.

Carl Weinberg, High Frequency Economics Chief Economist, says Brexit is a stagflation event. Fred Cannon, KBW Global Director of Research, previews the U.S. bank earnings coming up this week. Leslie Vinjamuri, Chatham House Head of U.S. & Americas Programme, thinks Republicans will have to present the President with a plan to break the gridlock. John Butler, Bloomberg Intelligence TMT Team Leader, discusses Apple music versus Spotify. See omnystudio.com/listener for privacy information.

John Ryding, RDQ Economics Chief Economist & Founding Partner, says the U.S. is in a stronger place than it was several years ago despite what is going on inside the Beltway. Peter Hooper, Deutsche Bank Chief Economist, says we need more training for those who lose their jobs to trade and technology. Mary Barra, General Motors Chairman & CEO, foresees a healthy U.S. market for GM. Laurence Ball, Johns Hopkins University Professor of Economics & Department Chair and Author of "The Fed and Lehman Brothers", critiques how central bankers have discussed the aftermath of the 2008 financial crisis. See omnystudio.com/listener for privacy information.

Mark Kiesel, PIMCO CIO of Credit, thinks markets have overestimated the likelihood of a recession while Harm Bandholz, Unicredit Bank Chief U.S. Economist thinks the U.S. could see a recession in 2020. Miranda Carr, Haitong International Senior Macro Strategist & Senior Analyst, doesn't see China's latest inflation numbers as reflective of a huge slump in all of its upstream pricing. Chris Bryant, Bloomberg Opinion Industrials Columnist, believes recent cuts at Ford & Jaguar Land Rover are just the start for the automotive industry. See omnystudio.com/listener for privacy information.

Vincent Reinhart, Mellon Chief Economist & Macro Strategist, discusses what's he's looking to in the Fed Minutes. Rep. Henry Cuellar (D-Texas) says the President's border wall is a 14th century solution to a 21st century problem. John Brabender, Brabenderbox Chief Creative Officer & Republican Strategist, discusses fractures in the GOP. Betsy Graseck, Morgan Stanley Global Head of Banks and Diversified Financials Research, says she has her eye on big bank buybacks. ------See omnystudio.com/listener for privacy information.

Chris Verrone, Strategas Partner & Head of Technical Strategy, says there's a dichotomy between global and domestic tech. Michael Hirson, Eurasia Group Director of Asia, discusses China's slowdown and what it could mean for trade talks with the U.S. Marc Chandler, Bannockburn Global Forex Chief Market Strategist, foresees the dollar weakening. Taylor Riggs, Bloomberg News Correspondent, brings us an update from the JPMorgan Healthcare conference in San Francisco. See omnystudio.com/listener for privacy information.

Bloomberg Surveillance is on location at Eurasia Group today. Ian Bremmer, Eurasia Group President, defines "innovation winter." Priya Misra, TD Securities Head of Global Rates Strategy, says several forward-looking economic measures are concerning. Meredith Sumpter, Eurasia Group Head of Research Strategy & Operations, discusses market volatility in relation to U.S. politics. Sallie Krawcheck, Ellevest CEO & Co-Founder, discusses the gender gap in retirement investing. See omnystudio.com/listener for privacy information.

Jim Glassman, JPMorgan Chase Commercial Banking Head Economist, says growth for the working age population has slowed dramatically. Miranda Carr, Haitong International China Macro Strategist, says further liquidity is needed in China for its infrastructure projects. Alan Krueger, Princeton University Professor of Economics, and Mike Darda, MKM Holdings Chief Economist & Chief Market Strategist, join us for instant reaction to the U.S. jobs number (312k). Larry Kudlow, White House National Economic Council Director, says there is no recession in sight.See omnystudio.com/listener for privacy information.

Freya Beamish, Pantheon Macroeconomics Chief Asia Economist, says the Chinese economy is much weaker than the official headlines show. Walter Piecyk, BTIG Telecom, Wireless and Communication Equipment Analyst, says Apple's lowering of revenue estimates is a major sign of economic issues in China. Robert Kaplan, Federal Reserve of Dallas President, thinks the Fed should not take any further action on interest rates. Admiral James Stavridis, Bloomberg Opinion Columnist, argues that the U.S. has to remain engaged in the Pacific. Asthika Goonerwardene, Bloomberg Intelligence Biotech & Pharma Analyst, says Bristol's bid for Celgene is a financial transaction to buy cash flows. See omnystudio.com/listener for privacy information.

Tony Crescenzi, PIMCO Market Strategist & Portfolio Manager, believes there is a strong case for the Fed to pause. Freya Beamish, Pantheon Macroeconomics Chief Asia Economist, expects a deeper deterioration of the Chinese economy before the stimulus comes through. Dana Peterson, Citigroup Economist, highlights the importance of the January Fed meeting. Oscar Decotelli, DXA Investments CEO, says the Brazilian elite seem to be positive about the country's new President Jair Bolsonaro. See omnystudio.com/listener for privacy information.

Brett Ryan, Deutsche Bank Senior Economist, expects 3 rate hikes and 2.4% economic growth next year. Bob Profusek, Jones Day Global Chair of M&A, says M&A are driven by technology and globalization not by credit markets. Meredith Sumpter, Eurasia Research Strategy & Operations Head, says the countries in the CPTPP will see roughly 99% of tariffs among them eliminated. Jack Ablin, Cresset Wealth Advisors CIO & Founding Partner, says emerging markets are "downright cheap." See omnystudio.com/listener for privacy information.

Megan Greene, Manulife Asset Management Chief Economist, says the government shutdown isn't a huge story for the U.S. economy. John Sfakianakis, Gulf Research Center Foundation Director of Economics Research, doesn't think Saudi Arabia sees oil as a strategic weapon. Martin Indyk, CFR Distinguished Fellow & Former U.S. Ambassador to Israel, talks the impact of the U.S. pullout from Syria on the "cold war" between Iran and Israel. David Kirkpatrick, Techonomy CEO & Founder, talks the risk of Amazon achieving the status of "commerce king." See omnystudio.com/listener for privacy information.

Don Rissmiller, Strategas Research Partners, thinks the Fed should increase clarity on housing and inflation expectations. Kona Haque, ED&F MAN Head of Commodities Research, says the trade story will drive commodities' sentiment in 2019. Marvin Barth, Barclays Head of FX & EM Macro Strategy Research, says President Trump has realized it is a mistake to undermine people's confidence in institutions. Mark McCormick, TD Securities Head of FX Strategy North America, thinks reserve currencies will strengthen again next year.See omnystudio.com/listener for privacy information.

Edward Stringham, President of the American Institute for Economic Research, doesn't buy that the Fed is responsible for all the problems of the economy. Ivan Feinseth, Tigress Financial CIO, says now is the time to take advantage of the post-Christmas sale on Wall Street. Brian Egger, Bloomberg Senior Gaming & Lodging Analyst, thinks we are only in the early innings of the sports betting legalization process. Dana Telsey, Telsey Advisory Group CEO, says the combination of online and brick-and-mortar is powerful for retailers.See omnystudio.com/listener for privacy information.

Bob Hormats, Kissinger Associates Vice-Chair, describes the demographic challenges China is facing. Margaret Talev, Bloomberg's White House Correspondent, zooms in on the question of how the shutdown will impact the economy. Mark Spindel, "The Myth of Independence: How Congress Governs the Federal Reserve" Author, says markets have listened to President Trump on his criticisms of the Fed. Chris Verrone, Strategas Partner & Head of Technical Strategy, says investors are selling what they can and not what they want.See omnystudio.com/listener for privacy information.

Abby Joseph Cohen, Goldman Sachs Advisory Director & Senior Investment Strategist, thinks the risk tolerance of investors has changed. Bill Lee, Milken Institute Chief Economist, says the Fed still has to define what they mean by "asymmetry." John Hudak, Brookings Governance Studies Senior Fellow, says General Mattis' resignation is connected to the "unstable behavior" and "erratic decision-making" of Trump. Stephen Gallo, BMO Capital Markets Head of European FX Strategy, expects the dollar to be stronger the first half of 2019. See omnystudio.com/listener for privacy information.

Danny Blanchflower, Dartmouth University Professor, says either the market is wrong or the Fed is wrong. Howard Ward, Gabelli Funds CIO of Growth Equities, thinks tightening eight times in the course of two years is too rapid a move. Catherine Mann, Citi Global Chief Economist, says there is a divorce between data from the real economy and data from financial markets. Narayana Kocherlakota, Former Federal Reserve Bank of Minneapolis President, says we should get rid of the FOMC Dot Plot.See omnystudio.com/listener for privacy information.

Andrew Sheets, Morgan Stanley Chief Cross-Asset Strategist, says bond markets are adjusting to slower growth in developed economies next year. Amrita Sen, Energy Aspects Chief Oil Analyst, says oil demand concerns stem from the U.S. and China trade war. Randy Kroszner, Former Fed Governor, says the Fed cannot be a slave to the market. Greg Valliere, Horizon Investments Chief Global Strategist, sees a 55% probability of impeachment for Trump.See omnystudio.com/listener for privacy information.

Mike Darda, MKM Partners Chief Economist & Chief Market Strategist, says the justification to continue rising rates has evaporated. Jim O'Neill, Chatham House Chair and Goldman Sachs Former Chief Economist, says changing the manager will not solve the dilemmas of Manchester United. Terry Haines, Evercore ISI Senior Political Strategist & Head of Political Analysis, says a government shutdown would only affect 25% of federal funding. Freya Beamish, Pantheon Macroeconomics Chief Asia Economist, says better credit conditions in China haven't translated into liquidity. See omnystudio.com/listener for privacy information.

Gideon Rose, Foreign Affairs Magazine Editor and Peter G. Peterson Chair, discusses the latest edition of Foreign Affairs. Andrea Felsted, Bloomberg Opinion Columnist, talks Brexit fears for U.K. retailers. Paul Romer, 2018 Nobel Memorial Prize in Economic Sciences Co-Recipient, says people have less confidence in science than they had 20 years ago. Doug Kass, Seabreeze Partners President, is worried about the lack of cooperation between global superpowers. See omnystudio.com/listener for privacy information.

Kate Moore, BlackRock Investment Institute Chief Equity Strategist, discusses the implications of a slower growth rate next year. David Sowerby, Ancora Managing Director & Portfolio Manager, says in the long term, cash is trash. Dean Curnutt, Macro Risk Advisors CEO & Founder, talks the financialization of the VIX from an index to a trading instrument. Gabriela Santos, JPMorgan Asset Management Global Market Strategist, thinks consumer data do not support the general view of a recession in 2019 or 2020. See omnystudio.com/listener for privacy information.

Chi Onwurah, Labour MP & Shadow Minister of the Department for Business, Energy and Industrial Strategy, thinks the fundamental fractures in British Parliament can't be solved in two weeks. Eoin Drea, Martens Centre for European Studies Senior Research Officer, defines the Irish border as a symbol of peace and reconciliation. John Mills, JML Founder and Chairman, says the confidence vote was a bit of a distraction. Steven Major, HSBC Bank Global Head of Fixed Income Research, joins us to react to the ECB's rate decision. See omnystudio.com/listener for privacy information.

Nigel Huddleston, Conservative Member of Parliament for Mid Worcestershire, says Theresa May would be in a very strong position if she won the vote. Guy Johnson, Bloomberg Anchor, and Erik Nielsen, Unicredit Group Chief Economist, join us for a Brexit update. Priya Misra, TD Securities Head of Global Interest-Rates Strategy, advises to be opportunistic in every asset class in 2019. Adam Posen, Peterson Institute for International Economics President, thinks sterling relief is related to anti-Corbyn sentiment. See omnystudio.com/listener for privacy information.

Alan Ruskin, Deutsche Bank Securities Managing Director & Chief International Strategist, says market participants seem to expect volatility to be sticky for a while. Luke Kawa, Bloomberg Cross-Asset Reporter, says markets are pricing in some kind of inflection point for the Fed over the next two years. Danny Blanchflower, Dartmouth Professor & Former BOE Monetary Policy Committee Member, defines the current situation of the U.K. as one of "chaos" and "rage". Julia Coronado, Macropolicy Perspectives Founder, explains that technology is a deflationary force. Baroness Helena Kennedy, House of Lords Member, remarks that the Irish border question was not in the mind of the voters when the Brexit referendum took place. See omnystudio.com/listener for privacy information.

Neil Shearing, Capital Economics Group Chief Economist, says the key question now is whether Theresa May can go back to Brussels to negotiate changes. Marc Chandler, Bannockburn Global Forex Strategist & Managing Partner, says there will be downward pressure in the rupee until the Indian central bank's independence is reestablished. Gary Shilling, A. Gary Shilling & Co. President & Bloomberg Opinion Columnist, thinks we are in a very deflationary world. Cheryl Bolen, Bloomberg Government’s White House Reporter, discusses the responsibilities of the next White House Chief of Staff. See omnystudio.com/listener for privacy information.

Alan Krueger, Princeton University Professor of Economics, says markets are reacting to the end of the sugar high. James Glassman, JPMorgan Chase Commercial Banking Head Economist, thinks the Fed is more cautious as we near neutral. Michael Darda, MKM Partners Chief Economist & Chief Market Strategist, says the Fed should be focused on the nominal economy. Margaret Brennan, CBS Face the Nation Host, discusses who may be the next candidate for White House Chief of Staff. See omnystudio.com/listener for privacy information.

Tony Blair, Former U.K. Prime Minister, joins Francine Lacqua and Tom Keene on Bloomberg Surveillance TV to discuss Brexit. Tim Culpan, Bloomberg Opinion Columnist, says cybersecurity has played a role in Huawei's CFO's arrest. David Rubenstein, The Carlyle Group Co-Founder & Co-Executive Chairman, reflects on the global admiration for former President George H.W. Bush. Tina Davis, Bloomberg Energy & Commodities Americas, joins us to wrap headlines from the OPEC+ meetings. See omnystudio.com/listener for privacy information.

Bloomberg Surveillance remember former President George H.W. Bush in today's episode. Diana Furchtgott-Roth, Former Office of Policy Planning Associate Director for George H.W. Bush, discusses the former President's economic policies. Ron Bonjean, The Bonjean Company Founder, discusses the future of the Republican party. Admiral James Stavridis, Former NATO Supreme Allied Commander for Europe, says George H.W. Bush was one of the biggest supporters of NATO in history. Bill Hoagland, Bipartisan Policy Center Senior Vice President, says the former President was pragmatic about deficits. See omnystudio.com/listener for privacy information.

Ian Shepherdson, Pantheon Macroeconomics Chief Economist, says wage growth is much more likely to head North than South. Ira Jersey, Bloomberg Intelligence U.S. Rates Strategist, discusses the yield curve flattening. Kevin Book, Clearview Energy Partners Head of Research, brings us an update on oil markets. Emma Ross Thomas, Bloomberg Brexit Editor, says BOE Governor Mark Carney is no stranger to criticism. See omnystudio.com/listener for privacy information.

Richard Clarida, Federal Reserve Vice Chairman, says the U.S. Economy is in good shape right now. Michael McKee, Bloomberg International Economics & Policy Correspondent, says the market is pricing in a much lower path for rate hikes for the Fed in 2019. Marianne Schneider-Petsinger, Chatham House Geoeconomics Fellow for U.S. & the Americas, says it is not clear what the Trump administration wants to achieve with China. Freya Beamish, Pantheon Macroeconomics Chief Asia Economist, highlights the divergent outlook of monetary policy for the PBOC and the Fed. Former Senator Alan Simpson, (R) Wyoming, remembers President George H.W. Bush. See omnystudio.com/listener for privacy information.