Bloomberg Surveillance

Francine Lacqua sits down for a conversation with U.S. Commerce Secretary Wilbur Ross following reports of Russia linked investments. Then, Michael McKee discusses NY Fed President William Dudley's recent retirement announcement. Prior to that, Jonathan Golub, Credit Suisse Securities' chief U.S. equity strategist, says the markets are perceiving Jay Powell as a continued Janet Yellen governance. Howard Gleckman, a senior fellow at the Tax Policy Center, says the Republican tax bill's proposed 20 percent corporate tax rate won't survive. Finally, Mohammed Alyahya, a nonresident fellow at the Rafik Hariri Center for the Middle East, says the issue of a Saudi corruption 'Band-Aid' is being torn off but perhaps may lead to uncertainty. See omnystudio.com/listener for privacy information.

Bill Gross, a fund manager at Janus Henderson, says it's getting much harder to generate alpha and the Fed can't raise rates much further before it hurts the economy. Prior to that, Adam Posen, president of the Peterson Institute for International Economics, says there's an 85 percent chance that the GOP tax proposal will go through. Finally, Joachim Fels, a global economic advisor at PIMCO, says we're stuck in the new neutral and there's no escape from the savings glut. See omnystudio.com/listener for privacy information.

Abby Joseph Cohen, Goldman Sachs' senior investment portfolio strategist, says the economy is at a point of structural change and she's disappointed that Janet Yellen won't be picked again for Fed Chair. Danny Blanchflower, a professor at Dartmouth College, says the Bank of England rate raise in an already slowing economy will slow it even more. JPMorgan's John Bilton says the U.S. has a reasonable labor force growth compared to other markets. Finally, Gordon Wood, author of "Friends Divided: John Adams and Thomas Jefferson," says the U.S. really needs a multiparty political system. See omnystudio.com/listener for privacy information.

Scott Galloway, a professor at NYU's Stern School of Business, says it's not a question of can Big Tech become too big, but can it become too powerful. Prior to that, Steven Wieting, Citi Private Bank's chief global investment strategist, says monetary policy won't be the driving force changing economic markets if Jay Powell becomes Fed Chair. Rick Mishkin, a professor at Columbia University's Business School, says Jay Powell would do a terrific job as Fed Chairman, but Janet Yellen would still be better. Finally, Austan Goolsbee, former chairman of the U.S. Council of Economic Advisors, says Congress isn't even remotely trying to get a 1986-style "comprehensive" tax reform. See omnystudio.com/listener for privacy information.

Richard Ben-Veniste, a partner at Mayer Brown and a former Watergate special prosecutor, says George Papadopoulos's indictment was a surprise and that Robert Mueller is running an efficient and appropriate investigation. Prior to that, Richard Clarida, a strategic advisor at PIMCO, says President Trump is choosing from the right group of people in the Fed Chair shortlist. Greg Valliere, Horizon Investments' chief global strategist, says anyone that's been in contact with Papadopoulos will be questioned by the FBI. David Herro, Harris Associates' CIO of international equity, says making Christopher Bailey an executive at Burberry was a mistake. Finally, Jeff Jarvis, a journalism professor at CUNY Graduate School, says it's too early to start government regulation of the internet. See omnystudio.com/listener for privacy information.

Mark Mobius, Templeton Emerging Markets Group's executive chairman, says China is a "planned" economy and the Communist party will step in at any moment of crisis. Prior to that, Christopher Grisanti, founder of Grisanti Capital Management, says Apple will sell a lot of $1,100 phones. Terry Haines, Evercore ISI's managing director, says the world of Washington D.C. won't stop, despite any Trump-Russia related indictments. Finally, Cass Sunstein, a Bloomberg View columnist and the author of "Impeachment: A Citizen's Guide," says the important track to follow in Mueller's indictments is the connection to the White House. See omnystudio.com/listener for privacy information.

Former Republican Presidential candidate Carly Fiorina says Democrats need to get a program and criticizing Donald Trump isn't enough. Prior to that, Vincent Reinhart, Standish Mellon's chief economist, says Jay Powell as a Fed Chair would be different than Jay Powell as a Fed governor. Nathan Sheets, PGIM's chief economist, says China's President Xi has set himself up for not just five years, but 10 years of rule. Paul Hanly Jr, attorney and shareholder at Simmons Hanly Conroy, says Trump's speech on the opioid epidemic was a disappointment. Brian Wieser, a senior research analyst at Pivotal Research, says Twitter suffers from "shiny object syndrome." Finally, Carlyle Group Co-Founder David Rubenstein says it's important that Carlyle maintains its culture through its executive shakeup. See omnystudio.com/listener for privacy information.

Henry Kaufman, president of Kaufman & Co., says robots will replace human labor. George Friedman, chairman of Geopolitical Futures, says it doesn't matter what President Trump wants, NAFTA will ultimately be decided upon by Congress. Finally, Arthur Levitt, former SEC chair, says a single, global model for market research would be spectacular. See omnystudio.com/listener for privacy information.

Ray Dalio, Bridgewater Associates Co-Chairman and Founder discusses his latest book, 'Principles', the future of the Fed and why the worst asset class to be in is cash.See omnystudio.com/listener for privacy information.

With the final trove of records on John F. Kennedy's assassination due to be released after more than half a century, Bloomberg's Tom Keene and Bob Moon look back at a day that will be forever seared into the collective memory of the nation.See omnystudio.com/listener for privacy information.

Representative Dave Brat, a Republican from Virginia, says more Americans should raise a ruckus about government spending. Greg Valliere, Horizon Investments' chief global strategist, says Trump's base will continue to hang in there and as long as they do, he's inoculated. Michael Purves, Weeden & Co.'s head of equity and derivatives strategy, says you can expect the VIX to reprice if volatility continues to stay low. Finally, Wells Fargo Securities' Mike Mayo and Mike Schumacher discuss the state of banking on Wall Street and the future of the Federal Reserve.See omnystudio.com/listener for privacy information.

U.S. Commerce Secretary Wilbur Ross says the Fed Chair is an important decision that President Trump is taking very, very seriously. Prior to that, Stephen Roach, a senior fellow at Yale University, says China has operated on the same principle of contradictions since the 1980s. Craig Moffett, senior research analyst at Moffettnathanson, says the wireless industry in the U.S. is shrinking partly because of T-Mobile. Senator Cory Gardner, a Republican from Colorado, says Colorado has grown to become a great 'software' state for tech. Steven Swartz, president and CEO of Hearst, says the magazine business is tougher now but his company has been around a long time and will be around for a lot longer. Finally, Virginia Governor Terence McAuliffe says the new Virginia economy is focused on jobs that aren't always related to technology. See omnystudio.com/listener for privacy information.

John Vail, Nikko Asset Management's chief global strategist, says Japan is pessimistic about their own economy, but the markets could be in a period of a "fresh new start." Prior to that, Torsten Slok, Deutsche Bank's chief international economist, says the big thing to look out for from the ECB is an end date to QE. Finally, Lupin Rahman, PIMCO's executive vice president of sovereign credit, says politics are a source of alpha within emerging markets.See omnystudio.com/listener for privacy information.

Nicholas Heymann, an analyst at William Blair, says GE's John Flannery is moving at lightspeed in changing the company. Prior to that, Michael Darda, chief economist at MKM Partners, says long rates don't look like they're headed up dramatically any time soon. Robert Hormats, Kissinger Associates' vice chairman, says the current administration's level of engagement with China isn't enough. Senator Chris Van Hollen, a Democrat from Maryland, says middle-class tax payers will be hit hard under President Trump's tax plan. Finally, Rich Greenfield, an analyst at BTIG, says Amazon's prepared to take football rights away from legacy media. See omnystudio.com/listener for privacy information.

Dennis Gartman, the editor and publisher of the Gartman Letter, reacts to the recent highs in the stock market and says markets have been ridiculously overpriced lately. Prior to that, Alan Ruskin, Deutsche Bank's global head of G-10 FX strategy, says 1987's Black Monday was extraordinary but 2008 was far worse. Finally, Saadia Madsbjerg, the managing director at the Rockefeller Foundation, says the forest fire prevention budget is under pressure. See omnystudio.com/listener for privacy information.

Bruce Kasman, JPMorgan's chief economist, says we don't have a Central Bank inflation issue at this stage, but that is looming. Representative Mark Walker, a Republican from North Carolina, says people are hurting under Obamacare, but insurance companies aren't. Finally, Enda Kenny, the former Prime Minister of Ireland, says there's no reason why Britain couldn't be a global power within the current European Union. See omnystudio.com/listener for privacy information.

Doug Kass, president of Seabreeze Partners Management Inc., tells Tom Keene and David Gura how a short seller survives during a bull market. Bill Lee, chief economist at the Milken Institute, says a John Taylor Fed chairmanship would give us more predictable framework than current Federal Open Market Committee language does. Finally, Gideon Rose, editor of Foreign Affairs magazine, says that when it comes to foreign policy, it's better to watch than listen. See omnystudio.com/listener for privacy information.

Steve Eisman, a portfolio manager at Neuberger Berman, talks about the smaller credit default market and says banks will increase their percentage of stock buybacks. Former Oklahoma Senator Tom Coburn says the insurance market needs price discovery and transparency. Finally, Nariman Behravesh, chief economist at IHS, says there was a split at the IMF meeting last week, with European bankers and policymakers worried and their U.S. counterparts more optimistic.See omnystudio.com/listener for privacy information.

Federal Reserve Bank of Boston President Eric Rosengren talks about the jobless rate and changing inflation dynamics. David Lipton, the first deputy managing director of the IMF, says the IMF has favored tax reform in the U.S. for a long time. David Malpass, the under secretary of the Treasury for International Affairs, says he'd like to see more growth in the U.S. and abroad. Nouriel Roubini, a professor at NYU's Stern School of Business, says monetary policy should be more aggressive if inflation is going to stay low. Finally, Pierre Moscovici, the European Commissioner for Economic and Financial Affairs, Taxation and Customs, says populism in Europe has lost battles but not the war.See omnystudio.com/listener for privacy information.

Live from the World Bank/IMF Meetings in Washington DC. Christine Lagarde, IMF's managing director, says the IMF has repeatedly said corporate tax reform was needed in the U.S. Prior to that, World Bank President Jim Yong Kim says the World Bank is talking with the U.S. about infrastructure and private-sector development. The World Bank is also launching a women's initiative with Ivanka Trump this weekend. See omnystudio.com/listener for privacy information.

Mauricio Cardenas, Colombia's finance minister, says oil prices are the reason for lower GDP growth levels. Prior to that, Jason Furman, former chairman at the Council of Economic Advisers, says he's confident the Trump administration can keep up with the Ph.D.'s of the IMF. Ken Leon, a bank analyst at CFRA, says JPMorgan is more efficient than its peers. Klaus Regling, the managing director of the European Stability Mechanism, says lower taxes can help economic growth. Finally, South Africa's Central Bank Governor Lesetja Kganyago says the government is stable despite political contestation. See omnystudio.com/listener for privacy information.

Charles Evans, the president of the Federal Reserve Bank of Chicago, discusses inflation expectations and says we should be spending time above two percent inflation. Christopher Scalia, editor of "Scalia Speaks," talks about his dad Antonin Scalia and reflects on law and faith. Mike Mayo, the head of U.S. large-cap bank research at Wells Fargo, says banks seek returns and profitability and not market share. Finally, William Blair's Nick Heymann says Honeywell isn't broken, just simplifying. See omnystudio.com/listener for privacy information.

Richard Thaler, the winner of the Nobel Prize in Economics, discusses volatility in stocks and says stocks can't be based on the certitude that there will be a massive tax cut. Prior to that, Kevin Hassett, the chair of the Council of Economic Advisers, says tax reform deserves bipartisan support. Luigi Zingales, a finance professor at the University of Chicago's Booth School of Business, says it's impossible to think about economics without behavioral economics. Finally, Olivier Blanchard, a senior fellow at the Peterson Institute, says tax reform won't boost growth. See omnystudio.com/listener for privacy information.

Glenn Hubbard, the dean of Columbia University Business School, discusses Richard Thaler's "great" Nobel Prize win. Andreas Dombret, a board member at Deutsche Bundesbank, says the Basel Committee is moving closer and closer to a deal. Yale University's Robert Shiller says behavioral economics is the most important thing to happen in economics in the last 20 years. Finally, Randall Kroszner, a professor of economics at the University of Chicago's Booth School of Economics, says adding humanity into economics has been a transformation in recent years. See omnystudio.com/listener for privacy information.

Janus Henderson's Bill Gross says Neel Kashkari would be his choice for chair of the Federal Reserve, but doesn't see it happening. Princeton's Alan Krueger says the tax proposals could have substantial effects on the U.S. economy. Finally, Gary Cohn, director of the U.S. National Economic Council, says the stock market reflects President Trump's economic plan.See omnystudio.com/listener for privacy information.

We are in an era of weak leadership, says Marc Chandler, Brown Brothers Harriman's global head of currency strategy, and the support ratings for some leaders in Europe are lower than Donald Trump's. Eurasia Group's Jon Lieber says the military has a strong command on Trump's foreign policy. Finally, Representative Peter Roskam, a Republican from Illinois, says the end game is transformational tax reform.See omnystudio.com/listener for privacy information.

Richard Haass, president of the Council on Foreign Relations, says Rex Tillerson can't succeed in his role as Secretary of State and that it's hard to run a disciplined operation under this administration. Jared Bernstein, a senior fellow at the Center on Budget and Policy Priorities, says a lot of economists are worried about the proposed tax plan's impact on deficit and debt. Finally, Willett Advisors' Steve Rattner says it's the White House's responsibility to "herd the cats" and bring people together.See omnystudio.com/listener for privacy information.

Tom Keene sits down with Fed Vice Chairman, Stanley Fischer in an interview on Fed policy and the future of the Fed before his departure from the role. See omnystudio.com/listener for privacy information.

Lawmakers and executives are struggling to keep up with the influence of social networks and modern communication, Niall Ferguson, a senior fellow at the Hoover Institution, says. JPMorgan's John Normand says Brexit seems to be going soft. Finally, Representative Jan Schakowsky, a Democrat from Illinois, says the cardinal sin of politics is disrespect.See omnystudio.com/listener for privacy information.

Filmmaker Ken Burns discusses the state of American gun legislation and his latest documentary, "The Vietnam War." Bob Profusek, a partner and head of M&A at Jones Day, says people within China's deal environment aren't worried about currency or regulation, but the attitude of the U.S. administration. Steven Barr, PWC's consumer markets leader, says physical retail may be stronger this holiday season. Finally, former Acting CBO Director Donald Marron says there's evidence that links tax cuts and economic growth, but it isn't as compelling as some think. See omnystudio.com/listener for privacy information.

Gary Cohn, the director of the National Economic Council, says the Trump administration is creating a tax plan that encourages Americans to invest in the future of the country. Christopher Giancarlo, chairman of the U.S. Commodity Futures Trading Commission, says the CFTC needs a 12 percent budget increase for more examiners, more economists and more technology. Ken Sena, a senior analyst at Wells Fargo Securities, reveals how his proprietary research into AI could shift the landscape for investors. Representative Tom Reed, a Republican from New York, talks about the proposed tax plan and says we have to reward hard work, not penalize it.See omnystudio.com/listener for privacy information.

Stephen Moore, a former economic adviser for the Trump campaign, says corporations are holding up to $3 trillion abroad that needs to be brought back to the U.S. to get the economy growing. Prior to that, Dennis Gartman, editor and publisher of the Gartman Letter, says Bitcoin and other cryptocurrencies are ridiculously priced. Americans are tired of waiting for what the GOP said it would do, Republican Representative Jim Jordan says. Finally, Janus Henderson's Ashwin Alankar says as long as interest rates stay low, it's hard for volatility to rise. See omnystudio.com/listener for privacy information.

E.J. Dionne, the author of "One Nation After Trump" and a columnist at The Washington Post, says one of the biggest problems the U.S. faces is the disconnect between the economies of metro areas and smaller, industrial ones. It's great to have a turnover in Congress, according to Senator Pat Toomey, a Republican from Pennsylvania. Markets are drowning in cash, Bob Michele, managing director at JPMorgan Asset Management, says. CFRA's Lindsey Bell says equities are "the best house on the block." Finally, Chad Thomas, Bloomberg's bureau chief in Berlin, says Angela Merkel and German Finance Minister Wolfgang Schaeuble have a "love-hate" relationship. See omnystudio.com/listener for privacy information.

Chris Ailman, CIO of CalSTRS, says we'll see a split in market research and when it's valuable, people should be willing to pay for it. OPEC's power is diminishing but it still has the power to jawbone the price of oil, Bloomberg Intelligence's Mike McGlone says. Senator Chris Van Hollen, a Democrat from Maryland, says his party needs to refocus on what the Democratic party has always stood for: the chance for everybody to have a good job and decent future. Former Health and Human Services Secretary Kathleen Sebelius says more competition is the best rate restrictor in health care. Finally, Joel L. Fleishman, a professor at Duke University, talks about his book "Putting Wealth to Work: Philanthropy for Today or Investing for Tomorrow?" and says the most interesting things in life are the ones that can't be measured. See omnystudio.com/listener for privacy information.

John Kornblum, the former U.S. Ambassador to Germany, questions if Germany's next generation will jump into the digital world or become more national oriented. Jeromin Zettelmeyer, the former director-general for economic policy at the German Federal Ministry for Economic Affairs and Energy, says Germany's governing coalition has done very well economically. John Vail, the chief global strategist at Nikko Asset Management Americas, says the Japanese people are actually against inflation. The oil industry's in denial about electric cars, PK Verleger President Phil Verleger says. Finally, Cornell University's Eswar Prasad says the PBOC is in a good spot with the renminbi.See omnystudio.com/listener for privacy information.

U.S. Commerce Secretary Wilbur Ross says that NAFTA is killing jobs and that the U.S. is the least protectionist major economy in the world. Prior to that, Ellen Zentner, Morgan Stanley's chief U.S. economist, says it's impossible to sustain three percent GDP growth with U.S. productivity the way it is. Finally, David Rubenstein, co-CEO of the Carlyle Group, says CBS CEO Les Moonves has an ability to pick shows that work. See omnystudio.com/listener for privacy information.

President Trump, Paul Ryan and Mitch McConnell torpedoed the bipartisan effort to pass healthcare, Senator Tim Kaine says. Prior to that, Wolfgang Ischinger, chairman of the Munich Security Conference, says there's no way that Germany, France or the U.K. can replace the leadership of the U.S. Finally, Stephen Roach, a senior fellow at Yale University, says there's a "tug of war" in China between the role of the state and the role of the markets.See omnystudio.com/listener for privacy information.

The former governor of the Bank of England, Mervyn King, talks about how the financial crisis changed the banking culture and says a market economy can't succeed with near-zero interest rates. Martin Sorrell, CEO of WPP, says the uncertainty Brexit caused has been excruciating for his company. Finally, David Rubenstein, co-CEO of the Carlyle Group, defends the liberal arts education as important in business.See omnystudio.com/listener for privacy information.

Ahead of Wednesday's Fed meeting, Russ Koesterich, a global allocation fund manager at BlackRock, discusses criticisms of the U.S. central bank and says rates aren't an ideal tool for tackling income inequality. Toby Cosgrove, the president of the Cleveland Clinic, says people must recognize the magnitude of the opiod crisis and it's up to the state and federal governments to solve it. Douglas Holtz-Eakin, the president of the American Action Forum, discusses the deficit and its disservice to the overall economy. Finally, Gary Bettman, the commissioner of the National Hockey League, says new guidelines have opened up hockey to become a game of speed and skill. See omnystudio.com/listener for privacy information.

Congress needs to disrupt its 19th-century structure, while still respecting the institution, Jane Harman, the president and CEO of the Woodrow Wilson Center, says. Willett Advisors' Steve Rattner says the existential question for Apple is what is the next act and is Tim Cook able to produce it? Finally, Princeton economist Alan Krueger discusses the connection between the opioid crisis and labor force participation.See omnystudio.com/listener for privacy information.

Hugh Hendry, the founder of Eclectica Asset Management, discusses the motivations behind the decision to close the Eclectica Fund and says the global macro game will get fun again in the future. Sen. Ben Cardin, a Democrat from Maryland, says the only way our political system will function is if Republicans and Democrats work together. Fortress Investments' Wes Edens, Marc Lasry, the founder of Avenue Capital Group and co-owner of the Milwaukee Bucks, and Jamie Dinan, the founder of York Capital Management, talk about investing in a "tough" environment and the evolution of basketball. Finally, Christopher Hill, former U.S. Ambassador to South Korea, says the U.S. and China must do more than sanctions against North Korea. See omnystudio.com/listener for privacy information.

It's embarrassing that parents have more choices of mayonnaise at the supermarket than they do schools to send their children to, Sen. John Kennedy, a Republican from Louisiana, says. Pimco's Rich Clarida says technology, trade, and immigration are working together to create anxiety for Americans. Finally, former CIA director Jim Woolsey says Russia's interference with elections isn't new--it's the cyber-tactics they're using.See omnystudio.com/listener for privacy information.

We need to focus on getting workers the skills they need for the jobs that need filling, David Herro, Harris Associates' CIO of international equity, says. Michael R. Bloomberg, founder and majority owner of Bloomberg LP, and Daniel Huttenlocher, dean of Cornell Tech, discuss the university's new campus on Roosevelt Island. Finally, Gene Munster, co-founder of Loup Ventures, says Apple is defying the laws of physics in pricing its products.See omnystudio.com/listener for privacy information.

Most Americans no longer believe the American dream applies to them, Ian Bremmer, president of the Eurasia Group, says. Peter Henry, the dean of NYU's Stern School of Business, says many are still enthusiastic about jobs in public service. Finally, the retention rate of Apple iPhone users is higher than any other product out there, Walter Piecyk, an analyst at BTIG, reports.See omnystudio.com/listener for privacy information.

Nobel winner Joseph Stiglitz, currently an economics professor at Columbia University, says if President Trump asked, he would agree to lead the Federal Reserve. Prior to that, Elaine Kamarck, a senior fellow at the Brookings Institution, says Trump seems bent on making enemies in Washington. Jonathan Miller, CEO of Miller Samuel, says 16 years after 9/11 lower Manhattan’s pace of gentrification has accelerated. Finally, Kurt Andersen, host of Studio 360, discusses his new book, Fantasyland: How America Went Haywire, tracing the Internet’s evolution as a launch pad for lies and what laid the groundwork for it.See omnystudio.com/listener for privacy information.

Mohamed El-Erian, a columnist at Bloomberg View, says the Fed is in the midst of a "beautiful normalization" and needs a team approach. Prior to that, Chuck Gabriel, founder of Capital Alpha Partners, says President Trump's deal with Democrats will only make tax reform harder. Finally, Jeffrey Solomon, president of Cowen and Co., says the research industry is at a point where excellence wins and mediocrity is eliminated. See omnystudio.com/listener for privacy information.

Former Philadelphia Fed President Charles Plosser says two percent inflation target is achievable and vacancies at the Fed are the result of politicization. Gregg Lemkau, Goldman Sachs' co-head of investment banking, says the lack of predictability in the Trump administration has people pausing on deals and transactions. Finally, Atul Lele, Deltec's chief investment officer, says U.S. economic expansion has been driven mainly by private industry.See omnystudio.com/listener for privacy information.

Former U.S. Secretary of Commerce Carlos Gutierrez discusses the need for more comprehensive immigration reform. Prior to that, Peter Hayes, BlackRock's head of municipal bonds, says one must believe in the long-term efficacy of a particular state when buying bonds. Finally, Kathleen Fisher, AllianceBernstein's head of wealth and investment strategies, says small banks buying even smaller ones.See omnystudio.com/listener for privacy information.

North Korea's Kim Jong-Un wants the U.S. to "get off his lawn" and Americans shouldn't worry about nuclear war any time soon, says Mark Kimmitt, the former U.S. assistant secretary of state for political-military affairs. Prior to that, James Stavridis, dean of the Fletcher School at Tufts University, says China holds North Korea's leash. Finally, Steve Bell, a senior advisor at the Bipartisan Policy Center, says there's a chance of tax cuts in early 2018.See omnystudio.com/listener for privacy information.

Bill Gross, a fund manager at Janus Henderson, says this is a weak jobs report and that he sees the U.S. budget deficit increasing. Prior to that, Jim Glassman, JPMorgan's head economist for commercial banking, says economists should worry when businesses stop worrying. Gary Cohn, director of the White House National Economic Council, says a tax blueprint will be coming out in the next couple of weeks. Finally, Brian Kelly, founder of The Points Guy, says avoid flying to Houston, but if you are, ask for a "weather waiver."See omnystudio.com/listener for privacy information.