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robert kaplan joins us now with his own view. also the former vice president of goldman sachs. mr. kaplan, welcome back. it's good to see you. >> good to see you, scott. >> how complicated did things get this week for the fed? >> uh -- i think the narrative continues, that goods are disinflating, not perfect, but disinflating. services is sticky, and the cpi and the ppi, i think were somewhat conflicting, but confirm that. and i think the other narrative here is you've got very restricted monetary policy is offset by an underestimated impact of very stimulative fiscal policy. so the net of it all is you're seeing some confusion, and i think it will likely cause the fed to be very careful about moving in june. but i think they should keep their options open and let the situation continue to clarify. >> so you don't think the door is fully closed on june, it sounds like? >> it's -- i think from a risk management point of view, i'd say the waying, if i were there, i think the bar has gone up for me to want to cut in june, but i would keep an open mind. i would be careful about making
robert kaplan joins us now with his own view. also the former vice president of goldman sachs. mr. kaplan, welcome back. it's good to see you. >> good to see you, scott. >> how complicated did things get this week for the fed? >> uh -- i think the narrative continues, that goods are disinflating, not perfect, but disinflating. services is sticky, and the cpi and the ppi, i think were somewhat conflicting, but confirm that. and i think the other narrative here is you've got...
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Apr 30, 2024
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. >> let's bring in robert kaplan, should they be talking about a hike this soon, robert? >> no, they shouldn't be. they should be keeping their options open and i think they will be keeping their options open. >> do you think that -- >> that's what you'll hear in the press conference. >> to steve's point would they change the language to keep the hike on the table as an option right now instead of the easing language? >> i think that they would be wise to keep the language as it is. my own view, and i would be arguing this in the meeting, one of the reasons why the fed is struggling to be able to cut rates and why service sector inflation and wages are so sticky, is you've heard me say this before, excessive government spending which i don't think is a long-term option for the federal government. i think it's artificial. i think it eventually is going to have to peter out and i think the fed would be wise to keep their options open and not make grand prognostications at this point. >> you have been leading the charge it's fiscal stimulus. tease that out for us. how do you
. >> let's bring in robert kaplan, should they be talking about a hike this soon, robert? >> no, they shouldn't be. they should be keeping their options open and i think they will be keeping their options open. >> do you think that -- >> that's what you'll hear in the press conference. >> to steve's point would they change the language to keep the hike on the table as an option right now instead of the easing language? >> i think that they would be wise to...
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we have cameron dawson, we have the former dallas fed president robert kaplan. also just added an interview with "the wall street journal"'s nick tumeros is what the fed is going to do next. we catch up on all things market. let's do "final trades." shannon, start us off. >> i'm going to talk about commodities. this is my contrarian trade of the year and we're getting some steam behind it. so happy to see motion in commodity prices. >> jason? >> chubb. operating income was up 42% yeefr over year. >> rick? >> chevron, a geopolitical hedge, and i love the sector. >> obviously do. way overweight energy, says rick sapperstein. >> josh brown? >> toast. not because i love someone to hand me a tip when they hand me a muffin, but i think we'll see a good quarter. so i'm long here. >> "the exchange" is now. ♪ ♪ >>> scott, thank you very much. i'm tyler mathisen in for kelly evans. here's what's ahead this hour. the market fixated on the macro, but that's a good thing says one of our guests, helping to set up into earnings, which he says couldn't be better. he's ready
we have cameron dawson, we have the former dallas fed president robert kaplan. also just added an interview with "the wall street journal"'s nick tumeros is what the fed is going to do next. we catch up on all things market. let's do "final trades." shannon, start us off. >> i'm going to talk about commodities. this is my contrarian trade of the year and we're getting some steam behind it. so happy to see motion in commodity prices. >> jason? >> chubb....
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kaplan. he's coming up in a little bit. in the meantime take a look at your scorecard with 60 minutes to go in regulation. got a very interesting final stretch underway because the cooler than expected ppi is stabilizing interest rates. that's good enough to get stocks a bit of a liftod
kaplan. he's coming up in a little bit. in the meantime take a look at your scorecard with 60 minutes to go in regulation. got a very interesting final stretch underway because the cooler than expected ppi is stabilizing interest rates. that's good enough to get stocks a bit of a liftod
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Apr 10, 2024
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an by the way, robert kaplan former president dallas federal reserve regular on this program said many times, that the federal reserve is fighting a tsunami of cash coming at it, for a long time jamie dimon and others have been saying cash is going to run out cash is going to run out bank of america said the covid money going away it is not going away. because joe biden is right now trying to forgive student loan debt, right so that stimulus in and of itself barry what is behind this number this morning tell us. >> another way to think about this wage numbers from last friday what you see is something that we haven't seen in decades, which is sectors that are being driven by i fiscal spending like construction spending, construction wages, construction sector should have lost jobs when fed tightened aggressively, wages should have come down. instead because of the so-called inflation reduction act i hate calling it that or infrastructure spending bill, semiconductor chips act, tradition money flooding around state local governments you are seeing wages in those sectors continue to go u
an by the way, robert kaplan former president dallas federal reserve regular on this program said many times, that the federal reserve is fighting a tsunami of cash coming at it, for a long time jamie dimon and others have been saying cash is going to run out cash is going to run out bank of america said the covid money going away it is not going away. because joe biden is right now trying to forgive student loan debt, right so that stimulus in and of itself barry what is behind this number...
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Apr 24, 2024
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. >> coming up, joined by former dallas fed president robert kaplan on the new data. >>> stay tuned you're watching "squawk box" on cnbc. >>> welcome back to "squa box. talking about the global goods data just got and gdp, inflation numbers due up later in the week bringing in former dallas fed president robert kaplan and get his thoughts on maybe the way the fed should see this, will see this will you take us inside the brain of jay powell to the extent you think you can do some mind reading for us? >> i think this most recent durable goods number is consistent with a resilient economy and i think overarching narrative in my mind is, we have historically restricted monetary policy being blunted to a great extent by historically stimulative fiscal policy. unspent american rescue act money still being spent, inflation reduction act projects, infrastructure act projects and the conflict between those two has meant that the particularly the services sector, inflation in the service sector has been stickier goods are disinflating that's being helped by china over-capacity, and particularly glo
. >> coming up, joined by former dallas fed president robert kaplan on the new data. >>> stay tuned you're watching "squawk box" on cnbc. >>> welcome back to "squa box. talking about the global goods data just got and gdp, inflation numbers due up later in the week bringing in former dallas fed president robert kaplan and get his thoughts on maybe the way the fed should see this, will see this will you take us inside the brain of jay powell to the extent...
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Apr 29, 2024
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that's what larry fink and robert kaplan has been talking about this, former dallas fed president. it's a good debate i doubt we'll hear the fed talk about it, though. >> but they have to deal with it you know, sometimes i think powell can be his own worst enemy because what they say is, you know, we'll just deal with what they give us. guess what the fed is really responding to fiscal policy and how are they doing so by just the question you asked, sara if fiscal policy is creating inflation the fed is keeping rates higher than ne normally would be because it does respond to fiscal policy. >> steve, thank you. steve liesman. >>> get we get earnings from apple and amazon this week amazon first up that's tomorrow. kate rooney gives us a closer look at what investors need to watch. kate >> hey, david. look at the advertising. we hear about amazon's cloud business, ai, but ads and advertising is a less talked about but really a core part of amazon's bull case the bar is higher after snap, microsoft and alphabet all au strong demand for digital ads. investors factoring in amazon's move
that's what larry fink and robert kaplan has been talking about this, former dallas fed president. it's a good debate i doubt we'll hear the fed talk about it, though. >> but they have to deal with it you know, sometimes i think powell can be his own worst enemy because what they say is, you know, we'll just deal with what they give us. guess what the fed is really responding to fiscal policy and how are they doing so by just the question you asked, sara if fiscal policy is creating...