Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.

In this episode, we feature a conversation with Angela Stent.

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- Claudia Sahm, Chief Economist at New Century Advisors
- Neil Dutta, Head: US Economic Research at Renaissance Macro
- Gennadiy Goldberg, Head: US Rates Strategy at TD Securities
- Kelly Grieco, Senior Fellow at the Stimson Center

Claudia Sahm, Chief Economist at New Century Advisors, joins to discuss the outlook for markets and the labor market ahead of Jay Powell's Jackson Hole speech. Neil Dutta, Head: US Economic Research at Renaissance Macro, talks about the chances of a September rate cut as mixed data on inflation and the consumer come in. Gennadiy Goldberg, Head: US Rates Strategy at TD Securities, discusses the Fed's rate easing cycle and when it could begin. Kelly Grieco, Senior Fellow at the Stimson Center, breaks down the Trump-Putin summit and what's next for the war in Ukraine.

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Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyAugust 18th, 2025
Featuring:
1) Michael Darda, Chief Economist at Roth Capital Partners, joins to discuss the Fed's case for a rate cut and what he expects from Jackson Hole this week. Traders are staying cautious ahead of the Federal Reserve’s annual retreat at Jackson Hole later this week, with Chairman Jerome Powell’s speech keenly watched for guidance on a September interest-rate cut.
2) Blake Gwinn, Head of US Rates Strategy at RBC Capital Markets, joins to discuss his rate cut call as traders prep for Jay Powell's Jackson Hole speech. Investor expectations for monetary easing next month fluctuated in recent days, pricing in more than a quarter-point cut at one point, amid mixed signals on inflation and the strength of US consumers.
3) Angela Stent, Senior Fellow at the Brookings Institute, offers her analysis of the Trump-Putin summit and what Russian President Vladimir Putin gained from the meeting. President Trump and Vladimir Putin agreed that the US could offer security guarantees to Ukraine, according to Steve Witkoff, Trump's special envoy. The details of the security guarantees and any potential territorial concessions remain unclear, with Secretary of State Marco Rubio offering less certainty on the topic than Witkoff.
4) Kona Haque, Head of Commodities Research at ED&F Man, discusses her note on the major moves in coffee prices and how tariffs will affect it, and offers her macro and oil outlook. Coffee remains highly volatile due to geopolitical and weather instability.

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