Single Best Idea with Tom Keene: Angela Stent & Jonathan Hill

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

In this episode, we feature conversations with Angela Stent & Jonathan Hill.

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF

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Episode Transcript

Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news. A single best idea
on a less than quiet Monday in August. It's supposed
to be quiet. We're almost into the dog days of August.
It's a bit heated actually in New York City today.

(00:24):
I don't think we get the ninety degrees, but right
up there. But it is a heated environment of economics, finance, investment,
and international relations all changed in the last forty eight hours.
As a president of the United States, we'll meet with
a leader of Russia in Alaska. There's no one better
to talk to than Angelus Stent. Her book is Putin's World.

Speaker 2 (00:48):
I mean, normally these kinds of summits are well prepared
in advance, they're experienced, diplomats are involved in them. This
is the result of, you know, a long conversation between
Steve and Whitcoff, not a diplomat, not an expert on
Russia and Vladima Putin. We don't know the contents of it,
and so we're really left in the dark about what

(01:08):
the process is in this. And the concern is that
President Trump will be there and then he doesn't have
all the backing he needs and the understanding going into
this about what Pudent's actually trying to do.

Speaker 1 (01:20):
Angela's stan to the Brookings Institution. David Gerr was a
huge value add this morning, and he talked about the
partition between say Vice President Vance wanting it to be
very much US Russia and Secretary Rubio saying suggesting that
Europe should be part of the dialogue. This is very
fluid on a Monday. Is Bloomberg News staggers to Friday

(01:44):
and this historic conference in Alaska. We're being a coverage
from Alaska. I'm not even sure right now we know
where in Alaska, but well, Bloomberg News will be there.
One thing we also look at as well as this
inflation report tomorrow PPI, I believe on Wednesday, and then
the retail sales report. Really interesting week on price change,

(02:05):
an interesting week for Chair Powell is he and we
moved to Jackson Hole. Jonathan hill is at Barclays. He
is expert on four percent inflation.

Speaker 3 (02:17):
So that's actually not that crazy or hard to get
to four percent. You know, we're already priced for something
in the mid to upper threes headline in your.

Speaker 1 (02:25):
Barclay's world, we're priced for three ish.

Speaker 3 (02:28):
Yeah, and that's really the inflation market and therefore the
fixed income market. We're priced for an acceleration in the
coming months to the mid to high threes. Big error
bands around those estimates. We don't know exactly when, but
to get to four isn't unreasonable, especially if other parts
of the inflation process brought it out beyond tariffs.

Speaker 1 (02:49):
Jonathan Hill, there are Barclays and of course a heated debate.
We'll bring you that coverage tomorrow at eight thirty am.
Google beneath the headline data on inflation, it is a podcast.
It's on Apple and Spotify, on YouTube podcasts. It's single
best idea