Rob Kaplan on How the Fed Will Think about the Tariffs

Odd Lots

Bloomberg

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4.4 • 1.6K Ratings

🗓️ 10 April 2025

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

On Wednesday, Trump pulled back from the brink on most of the reciprocal tariffs announced on April 2. The market surged. But we're still in an extraordinarily challenging moment. We have new across-the-board tariffs. We have gigantic tariffs on China. And there's a possibility that a recession has already begun. So what does the Fed do in this environment, with so much persistent uncertainty? On this episode, we speak with Rob Kaplan, former President of the Dallas Fed, and now the Vice Chairman of Goldman Sachs. We talk about the extreme uncertainty, the unusual behavior in the market, and what this all means for the energy sector.

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Transcript

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0:00.0	KPMG makes the difference by creating value, like developing strategic insights that help drive M&A success, or embedding AI solutions into your business to sustain competitive advantage.
0:13.4	KPMG, make the difference. Learn more at www.kpmg.us slash insights.
0:22.2	Is this a negotiation or the new rules at a game?
0:24.8	It could be either.
0:25.8	It is up to the president how he wants to negotiate.
0:28.7	A deal is going to be made with China.
0:30.4	Nothing's over yet.
0:31.4	There's been a lot of confusion up to now.
0:33.2	A 90-day pause is not an eradication.
0:35.8	Where is this leading to?
0:37.0	Trust Bloomberg Television for all the context and clarity you need as the tariff and global economy story evolves.
0:43.5	This year's bear case, very quickly, becoming the base case.
0:46.7	Nobody covers tariffs like Bloomberg Television.
0:50.0	Context changes everything.
0:54.7	Bloomberg Audio Studios.
0:57.2	Podcasts, Radio News.
1:10.3	Hello, and welcome to another episode of the Odd Lots podcast. I'm Joe Wisenthall.
1:15.7	And I'm Tracy Allaway.
1:17.2	Tracy, there are many dimensions of the ongoing market turbulent and trade tensions that we can't stop talking about.
1:24.3	But a big one, and in a way, it almost like people aren't talking about it
1:27.6	that much right now because there's so many other things top of mind, a lot of questions about how
1:31.1	the Fed is going to think about what's happening right here. Right. And I know it's probably not
	...

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