The latest in finance, economics and investment. Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF (http://bit.ly/3vTiACF). Bloomberg Surveillance hosted by Tom Keene & Paul Sweeney Tuesday, August 18th, 2026 Featuring: 1) Kay Herr, Managing Director & CIO: US GFICC at JPMorgan Asset Management, examines the shifting expectations for Fed policy. 2) Mark McCormick, Chief FX Strategist at BMO Capital Markets, on how geopolitical headwinds are weighing on currency markets. 3) Liz Ann Sonders, Chief Investment Strategist at Charles Schwab, discusses the gap between sell-side consensus and buy-side expectations 4) Wayne Sanders, Senior Defense Analyst for Bloomberg Intelligence, assesses the latest on the war in Iran and the ramp-up of American military production. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Tom Keene, Paul Sweeney, Lisa Mateo and Michael Barr have the economy and the markets "under surveillance" as they cover the latest in finance, economics and investment, and talk with the leading voices shaping the conversation around world markets. Watch Surveillance TV LIVE each mornings: http://bit.ly/3P7nstQ Watch Surveillance Radio LIVE weekday mornings: http://bit.ly/3vTiACF Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts Listen to more Bloomberg Surveillance: https://youtube.com/playlist?list=PLe4PRejZgr0OA0Pnb-62GrhgZ_ziGyxMJ #Bloomberg #Podcast #Surveillance #News #Markets Visit us: https://www.bloomberg.com/podcasts Follow Bloomberg Podcasts on Twitter: https://twitter.com/podcasts Visit our other YouTube channels: Bloomberg Television: https://www.youtube.com/@markets Bloomberg Originals: https://www.youtube.com/bloomberg Quicktake: https://www.youtube.com/@BloombergQuicktake For coverage on news, markets and more: http://www.bloomberg.com/video