Canada Chooses its Leader and Tariffs Dominate Traders' Minds

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyApril 29th, 2025Featuring:1) Russ Koesterich, Global Head of Investment Strategy for BlackRock Scientific Active Equities, joins for a discussion on near term volatility in stocks and whether the bull run in international stocks is set to slow. Investors are tracking a stream of data for clues on the health of the American economy and prospects for Federal Reserve interest-rate cuts, with some experts warning of the risk of recession in the US. Tariffs continued to dominate headlines, with Treasury Secretary Scott Bessent saying the US has put China to the side for now as it seeks trade deals with 15 to 17 other countries.2) Elizabeth Economy, Hargrove senior fellow and co-director of the U.S., China and the world program at the Hoover Institution at Stanford University, joins for a discussion on US-China relations and who has the upper hand in a trade war. Chinese Foreign Minister Wang Yi warned countries against giving in to US tariff threats, saying it would only embolden the "bully". Wang's remarks came as the Trump administration hinted at using new trade tools to pressure Beijing, and US Treasury Secretary Scott Bessent suggested banning certain exports to China to gain leverage.3) Ethan Harris, former Head of Research at Bank of America, talks about a potential golden age for the US economy and what a post-Powell Federal Reserve would look like. Currently, Fed Chair Jay Powell is trying to prevent price increases from spreading through the economy due to Donald Trump's tariffs, earning him the nickname "Mr. Too Late" from the president. The Fed is expected to leave rates unchanged at their next meeting, and Powell has emphasized the need to keep longer-term inflation expectations anchored to prevent a one-time price increase from becoming an ongoing inflation problem.4) Dr. David Dodge, former Governor of the Central Bank of Canada, joins to discuss Mark Carney's victory in the Canadian election. Canada's Liberal Party, led by Carney, is projected to win a fourth consecutive election, but with a narrow margin of victory. Carney's win represents a major turnaround for the Liberals, and he has pledged to focus on strengthening Canada's economic independence and standing up to US President Trump in a trade war.5) Lisa Mateo joins with the latest headlines in newspapers across the US, including Fortune's story on a harsh new reality when it comes to groceries and inflation and Business Insider's look at how a Chinese mobile dating game is getting single women across Asia to open their hearts and wallets.See omnystudio.com/listener for privacy information.