Bloomberg Surveillance

 Veronica Clark, Citi Economist, sees the Fed terminal rate at 5.5 to 5.75%, anticipating another rate hike in May, June and July. Douglas Rediker, International Capital Strategies Managing Partner & Former IMF Executive Board Member, says there's a "group think" at the IMF and World Bank that contributes to the gloom forecasts. Mike Schumacher, Wells Fargo Global Head of Macro Strategy, says "something broke" but the Fed would need another "big debacle" in the markets before easing. John Bolton, Former National Security Adviser & Former US Ambassador to the United Nations, discusses the leak of classified Pentagon documents. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Subadra Rajappa, Societe Generale Head of US Rates Strategy, says yields seem to have peaked. Peter Tchir, Academy Securities Head of Macro Strategy, says investors are being "a little too complacent" to geopolitical risks. Steven Ricchiuto, Mizuho Securities USA Chief Economist, says there is a substantial amount of firepower left in the consumer. Daniel Ives, Wedbush Senior Equity Analyst, says an EV arms race is playing out. Adam Tooze, Columbia University Professor, says a zero-rate world is off the table. Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.

Mohamed El-Erian of Bloomberg Opinion says we are likely to see the Fed go 25 basis points in May. Former Fed Governor Randy Kroszner says the Fed won't quite until the labor market quits. Tiffany Wilding, PIMCO Economist says the growth deceleration will continue. US Commerce Secretary Gina Raimondo says President Biden is obsessed with bringing manufacturing back to America. See omnystudio.com/listener for privacy information.

Luigi Zingales, University of Chicago Booth School of Business Professor of Finance says the banking system can't operate with interest rates at 4%. Thierry Wizman, Macquarie Global Interest Rates and Currencies Strategist says it's the "speedy, aggressive and abrupt increase" to 4% rates that is the problem. Julie Norman, UCL Centre on US Politics Co-Director says Europe's more open-handed approach to China could be an advantage for the US. Carl Riccadonna, BNP Paribas Chief US Economist, Markets 360 says there's some progress on the inflation fight.  See omnystudio.com/listener for privacy information.

Federal Reserve Bank of Cleveland President Loretta Mester says Fed officials will need to raise interest rates "a little bit higher" and then hold them there for some time to bring inflation back toward their goal. Claudia Sahm, Former Federal Reserve Economist & Bloomberg Opinion Columnist, says the Fed's tools could cause a lot of pain. Gargi Chaudhuri, BlackRock Head of iShares Investment Strategy Americas calls this a "generational opportunity" for high quality income from fixed income. Michael Zeldin, Former Federal Prosecutor, discusses Donald Trump's legal troubles.See omnystudio.com/listener for privacy information.

Gregory Peters, PGIM Fixed Income Co-CIO, says central banks have to be viewed as inflation fighters in order to get rates lower over time. Neil Dutta, Renaissance Macro Research Head of US Economic Research, says the US economy is not collapsing. Barbara Reinhard, Voya Investment Management Head of Asset Allocation, says the Fed is likely first to pause and cut. Richard Haass, Council on Foreign Relations President & "The Bill of Obligations: The Ten Habits of Good Citizens" Author, discusses Finland joining NATO and the indictment of former US President Donald Trump. Stephen Pagliuca, Bain Capital Senior Advisor, discusses Bloomberg's 'Brackets for a Cause' as well as the private credit market following SVB's collapse. See omnystudio.com/listener for privacy information.

James Bullard, St. Louis Fed President, says OPEC's decision to cut output came as a "surprise," but it's not clear what higher oil prices will mean for US monetary policy. John Ryding, Brean Capital Chief Economic Advisor, says the response to the bank turmoil has been swift and strong. Lori Calvasina, RBC Capital Markets Head of US Equity Strategy, still expects 4,100 on the S&P 500 by year-end. Ed Morse, Citi Research Global Head of Commodities, sees a "scenario" for $100 oil but says we're not "anywhere near there yet." See omnystudio.com/listener for privacy information.

Susan Collins, Boston Fed President, says history shows the Fed must stay the course on inflation. Michael Zeldin, Former Federal Prosecutor & American University Washington College of Law Adjunct Professor, discusses former President Donald Trump's indictment. Jim Bianco, Bianco Research Founder & President, says the Fed "is not thinking pause right now" unless there is a significant slowdown in credit. Matthew Luzzetti, Deutsche Bank Chief US Economist, says inflation is still too high for the Fed's liking. Daniel Ives, Wedbush Senior Equity Analyst, says there is another 10-15% upside in tech.See omnystudio.com/listener for privacy information.

Andrew Hollenhorst, Citi Chief US Economist, says we could see a Fed funds rate as high as 5.75%. Peter Tchir, Academy Securities Head of Macro Strategy, says the Nasdaq rally has been overdone. Mayra Rodriguez Valladares, MRV Associates Managing Principal, discusses the US bank hearings. Stephen Pagliuca, Bain Capital Senior Advisor & Boston Celtics Co-Owner, says there's still plenty of opportunities in tech. Doug Kass, Seabreeze Partners President, details his view on the banking crisis and also why he moved into a market neutral position, this morning. See omnystudio.com/listener for privacy information.

Tom Michaud, KBW CEO, says the banking crisis is behind us, "barring any other major shocks." Ed Al-Hussainy, Columbia Threadneedle Investments Senior Interest Rates Strategist, says the Fed will prioritize inflation. Geoffrey Yu, BNY Mellon Senior Market Strategist, says central banks will keep rates higher for longer. Wendy Schiller, Taubman Center for American Politics and Policy Director at Brown University, discusses the hearings on the collapse of SVB and Signature Bank. David Rubenstein, "The David Rubenstein Show: Peer-to-Peer Conversations" Host and Carlyle Group Co-Chairman & Co-Founder, says the banking system is in "reasonably good shape."  See omnystudio.com/listener for privacy information.