The latest in finance, economics and investment. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene &amp; Paul SweeneyTuesday, June 30, 2026 Featuring: 1) Bob Michele, CIO: and Head of GFICC at JPMorgan Investment Management, talks about the probability of an economic expansion and the 10-year range 2) Chris Marangi, Co-CIO: Value at Gabelli Funds, joins for a discussion on value investing and the three T&#x27;s in macro markets. 3) Ellen Wald, Senior Fellow at the Atlantic Council, discusses why oil dropped so fast, the president&#x27;s accusations of price gouging, and why there isn&#x27;t a lot of gasoline right now. 4) Tani Fukui, Senior Director of Economic &amp; Market Strategy at MetLife Investment Management, talks market rebalancing and inflation threats amid a new Fed regime. See omnystudio.com/listener for privacy information.

The US Macroeconomic Picture

Bloomberg Surveillance

# Full Transcript

**Podcast:** Bloomberg Surveillance

## Transcript

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[SPEAKER_E] We're advantaged in particularly that we're not under the time pressure of the Fed decides. To have someone that's been a foundation of our thinking about our central bank and bills, notes and bonds. Bob Michele joins us now, CIO, head of GFICC.

[SPEAKER_G] What?

[SPEAKER_H] Global Fixed Income, Currency and Commodities. Got them all.

[SPEAKER_A] Got them all.

[SPEAKER_E] He attended every restaurant in the new building and they gave him that honorarium. JPMorgan Investment Management. Do you know what worse strategy is yet?

[SPEAKER_H] Other than to set up task forces, it's not clear how long will it take based on the history of central bankers. Powell, for example, we think his hand will be forced sooner than he likes it. Clearly, by having the task force come back at year end, he wants to glide into 2027 without having to do much. But the markets move, the economy moves. The summers tend to be a crucibl...

The US Macroeconomic Picture

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

The US Macroeconomic Picture

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.