Bloomberg Surveillance

Athanasios Orphanides, a professor at MIT and a former ECB official, discusses the merits of the Federal Reserve's dot plot and central bank transparency. Then, Abby Joseph Cohen, president of Goldman Sachs Global Markets Institute, says the market is shifting into more cyclical aspects of the stock market. Also, Michael Lewis discusses his new book, "The Undoing Project," which traces a "bromance" between Israeli psychologists Daniel Kahneman and the late Amos Tversky, whose work sparked the rise of behavioral economics and led to shifts in sports, medicine and government. Finally, Southwest Airlines CEO Gary Kelly says he's hopeful that regulation will abate with Donald Trump.

Richard Haass, president of the Council on Foreign Relations, and Michael Spence, a professor at NYU, weigh in on European and American politics, saying the euro zone remains flawed and globalization is moving faster than politics. Then, Gerard Cassidy, RBC's managing director of equity research, says Bank of America is the best too-big-to-fail buy and has had a great turnaround. Finally, Utah Senator Mike Lee says there are some potential anti-competitive concerns with the AT&T/Time Warner deal.

Dennis Gartman, editor of the Gartman Letter, says the price of crude oil will fall to zero in 30 years. Then, Kate Moore, BlackRock's chief equity strategist, says she's most focused on monetary policy from the ECB and how it moves markets. Finally, Mario Gabelli, founder of Gabelli Funds, says Donald Trump's notion of lower taxes, less regulation and reestablishment of entrepreneurial innovation isn't bad for any entrepreneur.

BMO's Brian Belski and Eurasia Group's Ian Bremmer discuss the future of Europe after the Italian referendum. Then, former IMF Chief Economist Olivier Blanchard says China's power within the global supply chain could easily cripple the U.S. Also, Luigi Zingales, a professor at University of Chicago's Booth School, says it's the dawn of Donald Trump's crony capitalist world. Finally, Carl Weinberg, the founder of High Frequency Economics, discusses Italy's economic future.

Tom Keene and David Gura talk to Janus Capital's Bill Gross about the job report and the Fed. Prior to that, Carl Weinberg, High Frequency Economics' chief economist, says Italian banks are in trouble, no matter the outcome of the Italian referendum. Finally, Ira Jersey, a fixed-income strategist at OppenheimerFunds, says we'll see an uptick in yields for a few years and his colleague, Brian Levitt, says markets are starting to price in optimism.

Former IMF Chief Economist Kenneth Rogoff says India's currency crisis is exacerbated by policy implementation issues. Then, Daniel Yergin, the vice chairman of IHS, says the OPEC production deal will work. Also, Harvard's Nicholas Burns says President-elect Donald Trump should align himself with German Chancellor Angela Merkel. Finally, chess grandmaster Fabiano Caruana says Magnus Carlsen's opponents can never recover, once the current world chess champion gets even a tiny advantage over them.

Ian Shepherdson, Pantheon Macroeconomics' chief economist, says Italy leaving the Eurozone would be an "end of the world event," while TS Lombard Research's chief economist, Shweta Singh, says things won't dramatically change after the Italian referendum. Then, Stephen Schork, editor of the Schork Report, says the OPEC deal is great news for U.S. producers. Finally, Anthony Scaramucci, co-managing partner of SkyBridge Capital and an adviser to Donald Trump, says Trump will use trade tariffs as a last resort.

Tom Keene and David Gura talk to Adam Posen, the president of the Peterson Institute for International Economics, about what we know about Donald Trump's economic plan. Then, Bob Greifeld, Nasdaq's CEO, says 2017 will be a year of increased IPOs. Also, George Bory, the head of credit strategy at Wells Fargo, says companies may see a powerful trickle-down from Trump's economic plan. Finally, Mortimer Singer, the CEO of Marvin Traub Associates, says he's never seen anything like the way midtown Manhattan retail has been negatively affected by the security around Trump Tower.

David Gura and Francine Lacqua, filling in for Tom Keene, discuss Fidel Castro's legacy and what his death means for the future of Cuba with Julia Sweig, a professor at University of Texas at Austin and the author of "Cuba: What Everyone Needs to Know." Prior to that, Sheila Bair, the president of Washington College and former chairman of the FDIC, says the populist backlash to the economic crisis helped Donald Trump win the election. Then, Gideon Rose, the editor of Foreign Affairs Magazine, says it's unlikely Trump will live up to his campaign rhetoric. Finally, Bill Lee, Citi Research's head of North American economics, says Trump won't be able to reflate the economy until 2018.

Howard Davidowitz, Davidowitz & Associates' chairman, says we will see more brick and mortar stores close as online sales grow. Then, Jerry Storch, CEO of Hudson's Bay, says that while 85 to 90 percent of sales are taking place in a brick and mortar store, more of the growth is taking place online. Finally, Don Rissmiller, Strategas Research Partners' chief economist, says the biggest thing he's worried about is rising tensions with China over trade.

Glenn Hubbard, the dean of Columbia Business School, says he is optimistic about the policy agenda that President-elect Donald Trump has set out. Prior to that, Howard Ward, Gabelli Funds' CIO for growth, says Amazon will have an outstanding holiday season. Finally, Harm Bandholz, UniCredit's chief U.S. economist, discusses what could happen to the U.S. economy under Trump.

Komal Sri-Kumar, the president of Sri-Kumar Global Strategies, and Kim Schoenholtz, a professor at NYU's Stern School of Business, discuss the possibility of a "rules-based" Federal Reserve. Prior to that, Alberto Gallo, Algebris Investments' head of macro strategies, says the U.S. and U.K. populism wave is emerging in Europe. Finally, Jim Paulsen, a Wells Capital Management strategist, says dollar strength is peaking and will come down over the next couple of years.

Diane Swonk, founder of DS Economics, says not being able to have a grown up conversation about long-term fiscal sustainability is a real issue. Prior to that, Martin Feldstein, the National Bureau of Economic Research's president emeritus, says exceptionally high asset prices are a risk to the economy. Then, Pablo Goldberg, a BlackRock portfolio manager, says it's crucial to hedge against dollar moves. Finally, Daragh Maher, HSBC's head of FX strategy, says he's still bearish on sterling.

St. Louis Fed President James Bullard says Donald Trump's policies may improve U.S. productivity. Prior to that, UBS' Geoffrey Yu says the Turkish Lira is among the most vulnerable to changes in exchange rates. Then, Michael Feroli, JPMorgan's chief U.S. economist, says Trump's fiscal policy has several layers of uncertainty. Finally, Joachim Fels, PIMCO's global economic adviser, says populism means the EU may break up in the next crisis.

Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, says that politics never comes up in Fed meetings. Prior to that, Ian Shepherdson, Pantheon Macroeconomics' chief economist, says fiscal stimulus is the wrong thing at the wrong time. Then, Ajay Rajadhyaksha, Barclays' head of macro research, says under a Donald Trump economy, economic drag from trade barriers should be more than offset by economic stimulus. Finally, Sam Stovall, S&P's head of U.S. equity strategy, says returns average 15 percent in years of a GOP government.

Alex Salmond, the former First Minister of Scotland, and Holger Schmieding, Berenberg's chief economist, discuss the election of Donald Trump, Brexit and the rise of protectionism. Then, Joseph Nye, a professor at the Harvard Kennedy School, says that Trump can't let Vladimir Putin off the hook. Also, Jim O'Neill, the former U.K. Treasury Minister, discusses how the United Kingdom fits into Trump's foreign policy. Then, Charles Wyplosz, a professor of economics at the Graduate Institute of International and Development Studies, says that Trump's victory is making him rethink Marine Le Pen's chances in the French election. Finally, Dane Davis, an analyst at Barclays Commodities, says Trump is making metals great again.

Tom Keene and David Gura talk to Robert Skidelsky, a historian & House of Lords member, about Donald Trump's economic plan, which Skidelsky says is broadly a fiscal stimulus package. Then, Luigi Zingales, a professor at the University of Chicago Booth School of Business, says Trump's inexperience means he will depend heavily on his advisers. Also, former Minneapolis Fed President Gary Stern says the Fed will be cautious about placing any bets until they understand what fiscal policies will actually be implemented. Finally, former ECB President Jean-Claude Trichet says Trump's victory and Brexit are signs of people's anxiety.

David Folkerts-Landau, Deutsche Bank's chief economist, says Italy is better outside the Eurozone if the country refuses to reform. Then, Tom Keene and David Gura talk to Frank Newport, Gallup Poll's editor-in-chief, about the difficulties found in state-by-state polling. Also, Charles Dumas, TS Lombard's chief economist, discusses the future of the Federal Reserve under a Donald Trump presidency and says inflation will be up to 2 percent next year and 3 percent the following year. Finally, Julian Jessop, Capital Economics' chief global economist, says that rising bond bond yields represent the long-awaited normalization of interest rates.

Tom Keene and David Gura talk to Niall Ferguson, a senior fellow at Stanford's Hoover Institution, about the role of populism in Donald Trump's election. Then, Willem Buiter, the chief economist at Citi, discusses what the role of the Fed could be under President Trump. Then, Robert Sinche, a global strategist at Amherst Pierpont, says he's still looking for an overshoot in the Mexican peso. Also, Rich Greenfield, an analyst at BTIG, says ESPN's struggling to expand because viewers have an infinite number of other options to watch. Finally, Bret Baier, host of "Special Report" on Fox News, says the Republican party has no excuses to not get anything done.

Steve Rattner, Willett Advisors' chairman, says Donald Trump's policies can transform the U.S. economy. Prior to that, John Burns of John Burns Real Estate Consulting, says the housing market is recovering and new home buyers are slowly entering the market. And Harris Associates' David Herro says that Trump was able to convince Americans that he understands them. Narayana Kocherlakota, a Bloomberg View contributor and former president of the Federal Reserve Bank of Minneapolis, says the central bank has tools to dampen inflationary risk. Finally, Rhode Island Governor Gina Raimondo says the federal government needs to step up with infrastructure spending because states can't afford to bear the entire burden.