Bloomberg Surveillance Bloomberg Surveillance TV: August 21st, 2025
19 snips
Aug 21, 2025 John Stoltzfus, Chief Investment Strategist at Oppenheimer & Co., shares a bullish outlook on the S&P for 2025, arguing for the potential of equities. Meanwhile, Jeffrey Schmid, President of the Federal Reserve Bank of Kansas City, discusses the importance of Fed independence and the current labor market challenges. Their conversation touches on inflation dynamics and the delicate balance needed in monetary policy amid external pressures, emphasizing how economic indicators shape the Fed's strategies.
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Don't Precommit To Rate Cuts
- Schmid advises caution about assuming imminent rate cuts and warns against pre-committing to cuts publicly.
- He recommends waiting for incoming data before changing the policy stance.
Clarity Over Silence In Fed Communication
- Schmid emphasizes clearer public communication about what the Fed does and why, not less communication.
- He argues the dual mandate helps explain policy choices to the American public.
QE3 Launch And Misleading Payroll Print
- Betsy Duke recounts a past QE3 decision where a bad payroll print prompted action that later revisions didn't support.
- She uses the story to caution about overreacting to single payroll prints.