Bill Dudley, Bloomberg Opinion Columnist, Bloomberg Economics Senior Advisor & Former NY Fed President, says the Fed's usage of a "skip" versus a "pause" is to temper market expectations that they are "finished." Heidi Crebo-Rediker, Former US State Department Chief Economist, CFR Senior Fellow & International Capital Strategies Partner, discusses China's weak data. Alan Ruskin, Deutsche Bank Chief International Strategist, says a mild recession would be a soft landing scenario. Chuck Grom, Gordon Haskett Senior Retail Analyst, discusses Macy's earnings.Get the Bloomberg Surveillance newsletter, delivered every weekday. Sign up now: https://www.bloomberg.com/account/newsletters/surveillance See omnystudio.com/listener for privacy information.