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Bloomberg Surveillance: Dollar Dominance

Bloomberg Surveillance: Dollar Dominance

Bloomberg22-04-2025

Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney April 22nd, 2025 Featuring: 1) Jeff deGraaf, Chairman and Head: Technical Research at Renaissance Macro Research, joins for a discussion on Jay Powell, market risks, and tariffs. US stocks were higher in futures trading this morning as equities are set to bounce back from Monday's losses as investors weigh progress on trade talks with India and Tesla's upcoming earnings. 2) Brian Belski, Chief Investment Strategist at BMO Capital Markets, brings us into the market open and discusses whether he remains a US equity bull. President Trump's demands on Jerome Powell to cut rates have raised concerns about the president's willingness to meddle with central bank policy and the impact on the economy. 3) Alicia Garcia-Herrero, Chief Economist for Asia Pacific at Natixis, joins for a discussion on the dollar as the globe's reserve currency and how the trade war will harm China and the US. This morning, gold topped $3,500 for the first time, and other markets such as stocks, currencies, and commodities experienced mixed movements amid ongoing trade tensions and uncertainty. 4) Warwick McKibbin, non resident Senior Fellow at the Peterson Institute for International Economics, talks about his piece from the fall outlining the costs of Trump's tariff and deportation policies as well as his newest analysis released today on the US revenue implications of Trump's tariff plan. 5) Margaret Franklin, CEO of the CFA Institute, joins from our DC studio to discuss the CFA program, how it's evolving, and the impact of AI on the investing profession. 6) Lisa Mateo joins with the latest headlines in newspapers across the US, including a Financial Times report on the marketing campaign of plant-based eggs and the Washington Post's look into the changing economics of college football and how it's affecting the NFL draft.

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Trump economic adviser ‘very comfortable' with a trade deal closing with China on Monday
Trump economic adviser ‘very comfortable' with a trade deal closing with China on Monday

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Trump economic adviser ‘very comfortable' with a trade deal closing with China on Monday

National Economic Council Director Kevin Hassett said Sunday that he is 'very comfortable' with a trade deal closing between the United States and China after the two sides meet Monday in London. Hassett's comments on CBS' 'Face the Nation' come after President Donald Trump said last week that he had a 'very good' conversation with Chinese leader Xi Jinping and that talks with China are 'very far advanced.' Hassett said the United States is looking to restore the flow of 'crucial' rare earth minerals, which are used in the manufacturing of electronics, to the same levels before early April, when the US-China trade war escalated. 'Those exports of critical minerals have been getting released at a rate that is higher than it was, but not as high as we believe we agreed to in Geneva,' Hassett said. Commerce Secretary Howard Lutnick will lead the negotiations in London, along with Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, who in May led a weekend of the trade talks in Geneva. But tensions between the nations escalated weeks later after Trump posted on Truth Social that China 'totally violated' its 90-day trade agreement, which had dialed back the tit-for-tat trade war. Under the agreement, the US temporarily lowered its overall tariffs on Chinese goods from 145% to 30%, while China cut its levies on American imports from 125% to 10%. Under the agreement, China said it would suspend or cancel its non-tariff countermeasures imposed on the United States since April 2. Part of Beijing's retaliatory measures included export restrictions on some rare earth minerals, which are essential parts used in products such as iPhones, electric vehicles and fighter jets. The Trump administration on April 2 imposed sweeping 'reciprocal' tariffs on dozens of trading partners before pausing them for 90 days and lowering them to a 10% baseline. Hassett on Sunday declined to say what baseline tariffs could be in place moving forward as the Trump administration continues negotiations with trading partners ahead of the July 9 deadline. 'You could be certain that there's going to be some tariffs,' Hassett said. Lutnick told CNN's 'State of the Union' in May that 'we will not go below 10%' and to expect that baseline rate for the foreseeable future. The Trump administration has so far announced only one trade deal, with the United Kingdom. The Trump administration has touted that other countries, particularly China, will bear the burden of tariffs. Businesses and economists have warned otherwise, spurring uncertainty about consumer spending and fears of a potential recession. Amid those concerns, US inflation slowed to its lowest rate in more than four years in April. The annual inflation rate fell from a 2.4% increase in March to 2.3% as consumer prices rose 0.2%, according to Consumer Price Index data. 'All of our policies together are reducing inflation and helping reduce the deficit by getting revenue from other countries,' Hassett said. The Treasury Department reported that a record $16.3 billion was collected in gross customs duties in April, a sharp jump from the $8.75 billion that was collected in March. Since the start of the 2025 fiscal year, which began in October 2024, the United States has collected about $63.3 billion in gross customs duties — a more than $15 billion increase from the same period during the last fiscal year. The Congressional Budget Office estimates that increased tariff revenue, without accounting for effects on the US economy, could reduce total deficits by $3 trillion over the next decade. The US government deficit stood at about $2 trillion in 2024, or roughly 7% of gross domestic product, according to a June 2024 report by the CBO. Meanwhile, House Republicans' sweeping bill to enact Trump's policy agenda would pile another $3.8 trillion to the government's $36 trillion debt pile, according to recent CBO estimates. CNN's Matt Egan and Alicia Wallace contributed to this report. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

US, China to Resume Trade Talks With Focus on Rare Earth Exports
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US, China to Resume Trade Talks With Focus on Rare Earth Exports

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'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72
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'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72

Saving for retirement is a long game — and for decades, Dave Ramsey has told his audience that building wealth doesn't require massive income, just consistent effort. But when one caller threw that entire mindset into question, Ramsey didn't just correct the math — he unleashed a full-on lecture. In a video clip titled "Why Should I Invest If I'm Just Going To Die?" posted to his official YouTube channel, a listener named Isaiah challenged Ramsey's popular claim that $100 invested monthly could grow into millions over time. Don't Miss: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Maximize saving for your retirement and cut down on taxes: . "You keep saying to invest $100 a month beginning at age 30 and you'll be worth $5 million at 70 years old," Isaiah said. "That's the most ridiculous thing I've ever heard, because the life expectancy of a white male is 72 and for a Black male it's 68." Ramsey fired back: "We have never said $100 a month from 30 to 70 is $5 million. It's $1,176,000. All of your numbers are wrong." He cited data from the National Vital Statistics System showing that as of 2023, the average life expectancy for men in the U.S. was nearly 76. But more importantly, he pointed out that once someone reaches age 65, the average life span stretches another 18 years. "That's into your 80s," he said. "So no, you don't just die before you enjoy your money." But it wasn't just the math that set Ramsey off — it was the mindset. "At the core of your belligerency," Ramsey said, "is the idea that somehow you're supposed to get rich in 10 minutes, or that you're entitled to something." Trending: Invest where it hurts — and help millions heal:. He pushed back hard on Isaiah's claim that his background or race had anything to do with financial limits. "Color of skin hasn't got anything to do with your ability to build wealth," Ramsey said. "You're not a victim of anything but your bad thinking." Then came the now-infamous rant: "Roll up your sleeves, live on less than you make, get out of debt, deny yourself a little bit of pleasure... and quit smoking so much pot. Seriously." Ramsey called the caller's view "hopelessness," and accused him of spreading discouragement to others who could be working toward financial independence. "You're a hope stealer," he said. "And that pisses me off. Because I spend my life giving people hope." By the end of the clip, Ramsey reminded listeners that 89% of America's millionaires are first-generation wealthy. "If you plant $100, you'll get this. If you plant $1,000, you'll get 10 times as much," he said. "Most of you waste $100 driving past Starbucks."Ramsey's closing argument? "This is the best economy in the history of mankind for the little man to get ahead. If you don't do it, that's not on life. That's on you." Not everyone may agree with Ramsey's delivery, or his assumptions about longevity, race, or motivation. And sure — life doesn't come with guarantees. You might not live to 88, and a $100 monthly investment won't magically turn you into a millionaire overnight. But the bigger question is: What's the alternative? If you don't save out of fear you'll never make it to retirement, what happens if you do? Ramsey's point may be harsh, but it's hard to argue with the logic: hoping you'll be dead before you need your money isn't a financial plan. And if you're wrong — that could cost you a lot more than $100 a month. Read Next: Can you guess how many retire with a $5,000,000 nest egg? . Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Why Should I Invest If I'm Just Gonna Die?' — Dave Ramsey Viewer Insists He's Giving Bad Advice But Cites Bogus Stats That Men Don't Live Past 72 originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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