Bloomberg Surveillance

E.J. Dionne, the Washington Post columnist and senior fellow at the Brookings Institution, says Democrats need to craft a compact message for the working-class voters who are hurting the most in today's economy. Prior to that, Sebastien Galy, an analyst at Deutsche Bank Securities, says a weaker British pound is led by a stronger dollar and a dovish Bank of England. Ted Alden, a senior fellow at the Council of Foreign Relations, says the Trump administration wants to get a sense of China's willingness to cooperate on North Korea. Finally, Scott Wren, Wells Fargo's chief equity strategist, says markets will be driven by policies that are implemented.

Steve Eisman, a money manager at Neuberger Berman Group, discusses bank regulation and says too little leverage in the banking system is bad. Peter Navarro, the director of the National Trade Council, says the U.S. has significant trade deficits with 16 nations and Commerce Secretary Wilbur Ross will take a comprehensive look at trade balances. New York Fed President William Dudley says a couple more rate hikes this year seems reasonable. Finally, Mohamed El-Erian, a Bloomberg View columnist, says Brexit is a response to the lack of inclusive growth.

Michael Holland, chairman of Holland & Co., says getting some kind of corporate tax reform in the next six months will help the markets. Absolute Strategy Research's Ian Harnett says the Fed will have difficulty raising rates for a third or fourth time this year. Ian Bremmer, president of Eurasia Group, says there is both internal pressure and pressure from the European Union for Prime Minister Theresa May to unify the U.K. after Brexit. Finally, Jonathan Miller, president of Miller Samuel, says New York City real estate prices are moving sideways or down.

Willem Buiter, Citigroup's chief economist, says faster economic growth requires structural reforms, more capital expenditure and an elimination of trade barriers. Daniel Yergin, IHS' vice chairman, says Germany has kept the EU together. Finally, Vitor Gaspar, the IMF's fiscal affairs director, says the link between politics and economics was a tradition until the 20th century -- something that's been lost recently.

David Herro, CIO of Harris Associates, says Germany is one of the worst markets for banking because it has a competitive marketplace. Prior to that, Tobias Levkovich, Citigroup's chief U.S. equity strategist, says the reaction to Trump's election in markets have been off-the-cuff and not real investing. Finally, Joachim Fels, PIMCO's global economic advisor, says 3-to-4 percent growth is unrealistic now.

Anthony Crescenzi, a Pimco money manager, says inaction in Washington has hurt the U.S. economy. Greg Valliere, Horizon Investments' chief global strategist, says tax reform isn't the next issue for the Trump administration. Jim Kochan, Wells Fargo's chief fixed-income strategist, says the high-yield market still offers value as yields will move sideways through 2017. Finally, Michael Cohen, Barclays' head of energy commodities research, says most commodity prices are driven lower by macro developments.

Brian Levitt, a senior strategist at OppenheimerFunds, says there's going to be a pause in markets as we deal with the reality of politics. Peter Tague, Citigroup's co-head of global M&A, says it's tougher for private equity to make money now. Finally, UBS Securities' Julian Emanuel says a lot of pockets in the market are at historically high valuations.

Anne-Marie Slaughter, the president of New America Foundation, says the Russians hacked the presidential election and the U.S. needs to respond, but the national trauma of 9/11 and the Iraq War has made the U.S. more timid and reluctant to use force. Prior to that, Deutsche Bank's Sebastien Galy says the catalyst for a stronger dollar will be better data in the U.S. Then, Tony Dwyer, Canaccord Genuity's chief market strategist, says you should never sell until you're in close proximity to a recession. Nicholas Burns, a professor at Harvard University's Kennedy School, says you need to work across borders to counter modern terrorism. Finally, Erwin Chemerinsky, the dean of University of California, Irvine's School of Law, says Neil Gorsuch is smart and articulate but isn't answering many questions in Congress.

Zeke Emanuel, a senior fellow at the Center for American Progress, says there should be a bipartisan approach to health care. Prior to that, Harm Bandholz, UniCredit's chief U.S. economist, says Trump and European countries are the losers on globalization and technological progress. Don Straszheim, Evercore ISI's head of China research, says China's in Draghi mode. Finally, Yale's Robert Shiller says Trump oversimplifies and implies it's easy to fix problems.

Admiral James Stavridis, the dean of Tufts University's Fletcher School, says Secretary of State Rex Tillerson's decision to skip April's NATO meeting is a violation of "diplomacy 101." William Rhodes, president and CEO of William Rhodes Global Advisors, says the banking culture needs to improve to restore trust in banking. Paul Quinsee, JPMorgan's global head of equities, says revenue growth and currency movements will help profit growth this year in Europe. Finally, Neil Shearing, Capital Economics' chief emerging markets economist, says the strength of the Mexican peso and other emerging market currencies has been surprising.

Jeffrey Sachs, Columbia University Professor of International and Public Affairs, said President Trump has turned the world against the U.S. Phil Verleger, PKVerleger President, said technology will lead to an overwhelming drop in oil costs. Jack Bogle, Vanguard Founder, said active investing has moved to the ETF space. Neel Kashkari, Minneapolis Fed President, said he's not worried about the Fed falling behind the curve.

Gabriela Santos, JPMorgan Asset Management Global Market Strategist, said equities will escape the sideways market. Doug Elmendorf, Former CBO Director, said it's time to scale back entitlement programs. Nicholas Burns, Harvard Professor, said budget cuts would decimate the State Department. Stan Collender, MSLGROUP Executive Vice President, said President Trump's budget is masquerading as a government document. Steven Rattner, Willett Advisors Chairman, said it's hard to see the long-term growth rate above 2%. Andrew Gurman, American Medical Association President, said that the science on vaccines is totally clear.

Jason Furman, a senior fellow at the Peterson Institute, discusses Donald Trump's budget proposal. Peter Hooper, chief economist at Deutsche Bank Securities, says the Bank of England is on the sidelines for Brexit. Sebastian Mallaby, a senior fellow at the Council on Foreign Relations, says the Fed should be more paranoid about asset prices overshooting. Richard Haass, the president of the Council on Foreign Relations, says Rex Tillerson is having a rough start to the year. Willem Buiter, Citigroup's chief economist, says the Dutch election outcome is a personal punch to Geert Wilders. Finally, Tom Nichols discusses his book, "The Death of Expertise: The Campaign Against Established Knowledge and Why It Matters."

Alan Ruskin, global co-head of head of currency research at Deutsche Bank Securities, warns that U.S. investors risk losing their "animal spirits." Joe Antos, a health economist at the American Enterprise Institute who is critical of the Affordable Care Act, says Republicans should take time to refine their health-care plan. Doug Kass, president of Seabreeze Partners, says the unexpected often moves markets. Finally, Jim Palmer, former Hall of Fame pitcher for the Baltimore Orioles, discusses the business of baseball.

Andy Slavitt, the former administrator of the Centers for Medicare and Medicaid, says politicians must make progress on the health-care bill, without pride of authorship. Prior to that, Neil Dutta, Renaissance Macro's head of U.S. economics, says animal spirits are returning to America, but not in Europe. Bob Haber, Proficio Capital Partners' founder, says he's sitting on the sidelines for private equity. Finally, Michael Froman, a former U.S. Trade representative, says several TPP countries want to move ahead on the deal without the U.S.

Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, says there's room for debate on where to spend federal dollars. Prior to that, Carl Weinberg, the chief economist at High Frequency Economics, says he's skeptical that GDP growth will be as high as the Trump administration has promised. Doug Holtz-Eakin, the president of the American Action Forum, discusses the Congressional Budget Office's review of the proposed American Health Care Act. Finally, Greg Valliere, the chief global strategist at Horizon Investments, says Medicaid cuts are a non-starter.

Janus Capital's Bill Gross says it's a stretch to think that job growth will continue. Prior to that, Michael Cannon, the Cato Institute's director of health policy studies, says the country needs a full repeal of the Affordable Care Act. Willem Buiter, Citigroup's chief economist, says there's a risk of the rise of fascism in Europe. Finally, Alan Krueger, an economics professor at Princeton University, says the U.S. corporate tax system is awful.

JPMorgan CEO Jamie Dimon says consumer and small-business confidence have skyrocketed under Trump's growth agenda. Prior to that, former ECB President Jean-Claude Trichet says that productivity in the U.S and E.U. isn't rising fast enough. Nathan Sheets, the U.S. Treasury Department's former undersecretary for international affairs, says a key question is how committed America is to a free trading order across the globe. Finally, Steve Wieting, Citi Private Bank's global chief strategist, says he trusts polls less and relies more on politics in investing.

U.S. Commerce Secretary Wilbur Ross says he's still studying a border adjustment tax and hasn't yet taken a position on it. Prior to that, Kate Moore, BlackRock's chief equity strategist, says low volatility doesn't indicate complacency -- instead, it suggests paralysis and confusion. Finally, Lindsey Piegza, Stifel Nicolaus' chief economist, says it's clear underemployment is significant when looking at wages.

Mervyn King, former governor of the Bank of England, discusses the role that the House of Lords plays in the Brexit process. Catherine Mann, the OECD's chief economist, says a U.S. border tax won't achieve its aims. Finally, Howard Dean, a former Democratic presidential candidate, says Trump's health-care proposal is "pretty bad."