Bloomberg's Tom Keene, Jonathan Ferro and Lisa Abramowicz discuss remarks from Fed Chair Jay Powell following the Federal Reserve's latest policy decision on a special edition of Bloomberg Surveillance. Federal Reserve Chair Jerome Powell said officials are not in a hurry to adjust interest rates, adding tariffs could lead to higher inflation and unemployment. “If the large increases in tariffs that have been announced or sustained, they’re likely to generate a rise in inflation, a slowdown in economic growth and an increase in unemployment,” Powell said Wednesday at the conclusion of a two-day meeting in Washington. “The effects on inflation could be short lived, reflecting a one time shift in the price level,” he said. But it’s “also possible that the inflationary effects could instead be more persistent.” Officials voted unanimously to keep the benchmark federal funds rate in a range of 4.25% to 4.5%, where it has been since December. In a statement, policymakers said they see a growing risk of both higher inflation and rising unemployment. “Uncertainty about the economic outlook has increased further,” the Federal Open Market Committee said in a statement. They added, “the risks of higher unemployment and higher inflation have risen.” The S&P 500 index of US stocks and Treasury yields fell following the announcement, while the dollar pared gains.See omnystudio.com/listener for privacy information.
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28:06
US-China Trade Talks; India, Pakistan Trade Military Strikes
On today's podcast: 1) US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will travel later this week to Switzerland for trade talks with China led by Vice Premier He Lifeng, seeking to de-escalate a tariff standoff that has threatened to hammer both economies.2) India conducted targeted military strikes against Pakistan, which said it retaliated in expected tit-for-tat blows after a militant attack last month in Kashmir that killed 26 people.3) Former US President Joe Biden said the Donald Trump administration is appeasing Kremlin leader Vladimir Putin by pressuring Ukraine to give up territory as part of a potential peace deal to end Russia’s invasion.See omnystudio.com/listener for privacy information.
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17:12
Wall Street Elite Warm Up to Tariffs; Trump-Carney Meeting
On today's podcast: 1) Scott Bessent walked on stage at the largest gathering in months of Wall Street’s champions of global trade, aiming to explain why President Donald Trump is putting up hurdles to global trade. 2) Canadian Prime Minister Mark Carney said he’ll meet with US President Donald Trump in Washington on Tuesday, their first face-to-face encounter since he won an election in part because of an anti-Trump message. 3) Ford Motor Co. suspended its full-year financial guidance and said President Donald Trump’s auto tariffs will take a toll on profit, joining rivals stung by volatile global trade policies.See omnystudio.com/listener for privacy information.
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17:43
President Trump Says Trade Deals Coming; Warren Buffett Picks His Successor
On today's podcast: 1) President Donald Trump suggested that his administration could strike trade deals with some countries as soon as this week, offering the prospect of relief for trading partners seeking to avoid higher US import duties.2) Warren Buffett picked the final minute of his 60th shareholder meeting to drop a long-awaited announcement that was still completely surprising for his fans, most of his board and even his successor.3) Elon Musk called the US government inefficient and said artificial intelligence should be used to replace the functions currently done by some public workers, according to a person who attended the closed-door session at the Milken Institute Global Conference.See omnystudio.com/listener for privacy information.
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17:16
The CEO Radar: Behind the Tariff Headlines (Sponsored Content)
Financial analysts were far more prepared than most CEOs for the US tariffs announced on April 2. Analysts, who serve as a proxy for the financial markets, anticipated tariffs would soon be an enormous issue, mentioning the topic 62% more often than did CEOs during Q1 earnings calls. That’s the conclusion of the second edition of the CEO Radar—a tool to help CEOs determine which issues truly deserve their time and attention. It unpacks the leading topics discussed on almost 4,900 earnings calls worldwide in Q1 2025, enabling chief executives to compare their agendas to those of their peers, and to the market’s expectations. On this episode of the CEO Radar Podcast, Edward Adams of Bloomberg Media Studios is joined by BCG Global Chair Rich Lesser and Michael Brigl, Head of BCG’s Central European practice, to discuss how tariffs are likely to have a long-term effect on corporate operations.See omnystudio.com/listener for privacy information.
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