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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The single best ideas

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Speaker 1: were the Bonus today outside Boston during interimor will join

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Speaker 1: us on his beabs and let's get right to it.

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Speaker 1: I think so much a single best idea as a

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Speaker 1: FED parlor game. I think it's very evident that I'm

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Speaker 1: not a fan of the parlor game, the WRP function,

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Speaker 1: and you know, the gaming and the betting of what

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Speaker 1: the FED will do. I gay, I guess a lot

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Speaker 1: of people care. I don't care. I'm sort of more

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Speaker 1: interested in the real economy. Andrew hollendhors of the team

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Speaker 1: at City Group have been absolutely brilliant of focusing on

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Speaker 1: the real economy. Months ago, quarters ago, they said, calm down,

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Speaker 1: we're going to hire for longer. They nailed that call.

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Speaker 1: Now they've turned around and they said, not only are

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Speaker 1: we going lower with the FED, but because of the

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Speaker 1: real economy, we're going to persistently grind down interest rates.

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Speaker 1: Brian Whale in a TCW today was brilliant with the

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Speaker 1: same vector of disinflation and lower FED rates. Here, Hollendhorst

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Speaker 1: of City.

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Speaker 2: Group, if you just focus on four point two percent unemployment,

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Speaker 2: that's not a bad unemployment rate. If we could just

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Speaker 2: stay at four point two percent. The problem is, like

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Speaker 2: you're saying, all of the evidence is that unemployment rate

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Speaker 2: is going to continue to move higher, and it may

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Speaker 2: move higher in a non linear way. I think that's

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Speaker 2: a real concern. There's been a lot of focus on

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Speaker 2: the idea that, well, the hiring rates come down, the

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Speaker 2: layoff rate hasn't come up yet. And the yet, I

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Speaker 2: would emphasize, because in every cycle that's what we see.

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Speaker 2: The hiring rate comes down, then the layoff rate comes up,

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Speaker 2: and that's when you get that nonlinearity.

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Speaker 1: Andrew Hallenhorst there on the curvature of the unemployment rate.

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Speaker 1: We talked about a five percent unemployment rate not being

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Speaker 1: the same is a four point nine percent statistic as well.

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Speaker 1: Shout out to Dan Ives, a trooper in the late

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Speaker 1: late evening of Soul, Korea. Dan Ives briefing us today

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Speaker 1: on the Apple meeting to come. We talked about the chip,

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Speaker 1: the A eighteen chip. I'm very much a believer that

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Speaker 1: all the fanboy stuff is secondary to the actual three

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Speaker 1: nanometer technology in this case, and I think the chip

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Speaker 1: will dazzle whether the phone sells or not. I don't know,

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Speaker 1: but I think the chip will dazzle as well. Thanks

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Speaker 1: to Dan Ives for stepping in in his late night

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Speaker 1: Soul Korea as well. One thing that is certain is

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Speaker 1: there is a debate tomorrow. David Gurrow will be in Philadelphia.

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Speaker 1: Balance of Power Joe Matthew Kayley lines eight pm, starting

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Speaker 1: for a nine pm debate. I have no idea why

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Speaker 1: it's on at nine pm. I aggressively disagree with that.

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Speaker 1: It's worse than sports. It should be on earlier, so

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Speaker 1: not kids, but you know, teenagers can watch it without

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Speaker 1: being brained at at nine pm. But anyways, they'll be

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Speaker 1: good coverage. We were lucky and I got some heat

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Speaker 1: on this on Twitter. People are like, you know, why

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Speaker 1: are you talking to a guy from Arkansas. French Hill

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Speaker 1: is a banker, a businessman. He's at a payroll to

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Speaker 1: meet in Arkansas. It's the second congressional district. I think

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Speaker 1: it's north of Little Rock. We talked about the map

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Speaker 1: of that Frenchhill, Republican from Arkansas on his candidate.

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Speaker 3: I don't think so.

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Speaker 1: No.

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Speaker 3: I think he and this has been very consistent I

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Speaker 3: think with President Trump. I mean, he sticks with this

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Speaker 3: messaging that he has that he believes so strongly in

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Speaker 3: and I don't see him moving it, And I don't

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Speaker 3: you know. I think some would argue that Vice President

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Speaker 3: Harris is moving to the middle with some of her proposals,

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Speaker 3: but they're like from the most radical left fringe to

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Speaker 3: slightly less left, not per se to the middle. She

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Speaker 3: uses a lot of press release buzzwords, you know, childcare,

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Speaker 3: lowering taxes for working family, and things like that, but

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Speaker 3: when you get into the details, I don't think so.

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Speaker 3: I'm thinking she needs to look like she's centrists, that

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Speaker 3: she's not Bernie Sanders, that she's somewhere to the far

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Speaker 3: right of Bernie Sanders, that she is smart and she's

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Speaker 3: up on the issues, and that she's got a sense

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Speaker 3: of humor, but looks presidential. I think that's a big

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Speaker 3: I think it's a big lift for her, but I

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Speaker 3: think that's the main issue for her.

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Speaker 1: Frenchchill just riveting in not once, but twice three times

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Speaker 1: in that conversation, he made clear he feels that the

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Speaker 1: former president will not move to the middle, that he

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Speaker 1: will stay a mega themes if you will, good to

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Speaker 1: have friendshill in today. Last week I believe it was

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Speaker 1: the Wall Street Journal did at college ranking, and it

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Speaker 1: had the usual victims lined up at the top, and

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Speaker 1: sandwich between number one and number two was Babson College.

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Speaker 1: There is no one in the game more affiliated with

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Speaker 1: Babson than Urian Timor of Fidelity. And of course we

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Speaker 1: say good September to ninety two nine FM and all

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Speaker 1: that's going on in Boston. Babson is a leafy, suburban

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Speaker 1: event and had an international student body before that was

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Speaker 1: cool or required, whatever you want to say. Here is

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Speaker 1: a gentleman from an island, a Dutch island in the Caribbean,

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Speaker 1: on his first day at Babson.

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Speaker 4: I was born and raised on the small island of Aruba,

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Speaker 4: and I wanted to go to college in the States.

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Speaker 4: My brothers went in Holland as his typical for Dutch

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Speaker 4: families in Aruba, and my father did some business with

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Speaker 4: people in the Boston area and they all told him

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Speaker 4: to send your kid to Babson and we went and

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Speaker 4: we looked. I bought a suit for the first time

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Speaker 4: to interview, and I saw a young man walking down

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Speaker 4: the campus with a rolled up Wall Street journal under

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Speaker 4: his arm, and I'm like, that was the image that

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Speaker 4: I wanted for myself. And so I went to Bobson

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Speaker 4: in nineteen eighty one. It was already an international kind

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Speaker 4: of oriented college. At the time, eight percent of the

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Speaker 4: student body was international. Now it, of course it's much more.

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Speaker 4: But it has always provided that intimacy of a small

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Speaker 4: business school that is still world class at the same time,

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Speaker 4: and as an international student, that really fit the mold

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Speaker 4: for me.

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Speaker 1: You're in Timor, arguably the greatest technician in economics, finance,

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Speaker 1: and investment. I can't say enough about the sophistication of

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Speaker 1: the charts he develops for Fidelity. Many of them are

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Speaker 1: widely available at the Fidelity website. You're in Timor of Fidelity.

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Speaker 1: An eventful week forward here after the jobs report. Thank

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Speaker 1: you to our team for just an incredible Friday. We

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Speaker 1: move on on YouTube. Subscribed to Bloomberg Podcasts on terrestrial

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Speaker 1: traditional radio ninety nine to one FM in Boston, our

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Speaker 1: flagship station in New York City Bloomberg eleven three ye

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Speaker 1: oh am in Boston, ninety two nine FM, on Apple CarPlay,

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Speaker 1: Android Auto, and on Apple Podcast. This is a single

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Speaker 1: best idea