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In the decade that followed the Great Financial Crisis, inflation rates remained low and steady, and in some cases even threatened to turn negative, as economies around the world struggled to recover.This era came to an abrupt end in recent years following the double economic shocks of the COVID pandemic and Russia's invasion of Ukraine. Many central banks and senior policymakers were caught on the back foot as inflation rates soared to levels not seen for nearly half a century in some countries.Although rates have since come down from those highs, they're still proving tricky to completely get under control, causing concern among some observers.This week on The Inquiry, we explore what inflation is and where it comes from, what's been happening in recent years, and what the outlook might be.Presenter: Tanya Beckett Producer: Ben Cooper Researcher: Katie Morgan Technical producer: Richard Hannaford Production Co-ordinator: Liam Morrey Editor: Tara McDermottContributors: Stephen D. King, author and Senior Economic Advisor at HSBC Vicky Pryce, Chief Economic Advisor at the Centre for Economics and Business Research Marieke Blom, Chief Economist and Global Head of Research at ING Manoj Pradham, author and Chief Economist at Talking Heads Macroeconomics
Brian interviews Hendrik Brakel. Hendrik is a Director in the Federal Practice at Sussex Strategy Group. Previously, he spent 5 years on Parliament Hill, first as the Chief Economic Advisor to the Leader of the Official Opposition and later he was promoted to Director of Policy and Parliamentary Affairs. Before politics, Hendrik served as the Chief Economist at the Canadian Chamber of Commerce. Hendrik holds a Master of Public Policy and International Affairs, as well as a Master of Business Administration from the University of Ottawa. Hendrik Brakel talks about his article “From trade wars to trade wins – Securing Canada's economic security in the Trump era”.
pWotD Episode 2795: Manmohan Singh Welcome to Popular Wiki of the Day, spotlighting Wikipedia's most visited pages, giving you a peek into what the world is curious about today.With 954,799 views on Thursday, 26 December 2024 our article of the day is Manmohan Singh.Manmohan Singh (Punjabi: [mənˈmoːɦən ˈsɪ́ŋɡ] ; 26 September 1932 – 26 December 2024) was an Indian politician, economist, academic, and bureaucrat, who served as the 13th prime minister of India from 2004 to 2014. He was the fourth longest-serving prime minister after Jawaharlal Nehru, Indira Gandhi and Narendra Modi. A member of the Indian National Congress, Singh was the first Sikh prime minister of India. He was also the first prime minister since Jawaharlal Nehru to be re-elected after completing a full five-year term.Born in Gah in what is today Pakistan, Singh's family migrated to India during its partition in 1947. After obtaining his doctorate in economics from Oxford, Singh worked for the United Nations during 1966–1969. He subsequently began his bureaucratic career when Lalit Narayan Mishra hired him as an advisor in the Ministry of Commerce and Industry. During the 1970s and 1980s, Singh held several key posts in the Government of India, such as Chief Economic Advisor (1972–1976), governor of the Reserve Bank (1982–1985) and head of the Planning Commission (1985–1987).In 1991, as India faced a severe economic crisis, the newly elected prime minister, P. V. Narasimha Rao, inducted the apolitical Singh into his cabinet as finance minister. Over the next few years, despite strong opposition, he carried out several structural reforms that liberalised India's economy. Although these measures proved successful in averting the crisis, and enhanced Singh's reputation globally as a leading reform-minded economist, the incumbent Congress Party fared poorly in the 1996 general election. Subsequently, Singh was leader of the opposition in the Rajya Sabha (the upper house of the Parliament of India) during the Atal Bihari Vajpayee government of 1998–2004.In 2004, when the Congress-led United Progressive Alliance came to power, its chairperson Sonia Gandhi unexpectedly relinquished the prime ministership to Singh. His first ministry executed several key legislations and projects, including the National Rural Health Mission, Unique Identification Authority, Rural Employment Guarantee scheme and Right to Information Act. In 2008, opposition to a historic civil nuclear agreement with the United States nearly caused Singh's government to fall after Left Front parties withdrew their support. India's economy grew rapidly during his term.The 2009 general election saw the UPA return with an increased mandate, with Singh retaining the office of prime minister. Over the next few years, Singh's second ministry government faced a number of corruption charges over the organisation of the 2010 Commonwealth Games, the 2G spectrum allocation case and the allocation of coal blocks. After his term ended, he opted out from the race for the office of prime minister during the 2014 Indian general election. Singh was never a member of the Lok Sabha but served as a member of the Rajya Sabha, representing the state of Assam from 1991 to 2019 and Rajasthan from 2019 to 2024.This recording reflects the Wikipedia text as of 02:07 UTC on Friday, 27 December 2024.For the full current version of the article, see Manmohan Singh on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Mastodon at @wikioftheday@masto.ai.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm generative Joanna.
At a recent panel discussion in New Delhi, French economist Thomas Piketty suggested that a wealth and inheritance tax be imposed on the super-rich in India, which, in turn, could fund health and education. India's Chief Economic Advisor, Anantha Nageswaran, opposed the idea, arguing that higher taxes could encourage fund outflows. Should the wealth tax be brought back to address inequality in India? Here we discuss the question. Guests: Ajay Shah, Senior Research Fellow and Co-founder Xkdr Forum; Rahul Menon, Associate professor at the Jindal School of Government and Public Policy Host: Samreen Wani You can now find The Hindu's podcasts on Spotify, Apple Podcasts and Stitcher. Search for Parley by The Hindu. Write to us with comments and feedback at socmed4@thehindu.co.in
On Episode 456 of The Core Report, financial journalist Govindraj Ethiraj talks to Avinash Gorakshakar, Head of Research of Profitmart Securities. SHOW NOTES (00:00) The Take (04:50) FIIs are back, as markets gear up for Santa rally (06:46) Chief Economic Advisor makes indirect case for bitcoins and crypto day after conservative RBI governor departure (08:31) Rupee hits fresh low on reports of China loosening Yuan (10:17) Asian Development Bank lowers India growth estimates Listeners! We await your feedback.... The Core and The Core Report is ad supported and FREE for all readers and listeners. Write in to shiva@thecore.in for sponsorships and brand studio requirements For more of our coverage check out thecore.in Join and Interact anonymously on our whatsapp channel Subscribe to our Newsletter Follow us on: Twitter | Instagram | Facebook | Linkedin | Youtube
In this episode, journalist Puja Mehra is joined by economist Prachi Mishra to uncover the factors behind Bihar's economic challenges. From historical policies like the Freight Equalisation Scheme to the migration patterns driven by low wages, Prachi explains the root causes of Bihar's struggles and its divergence from other Indian states. They also discuss the aspirations of Bihar's youth, the state's limited industrial growth, and the role of education in shaping its future. ABOUT PRACHI MISHRA Prachi Mishra is currently Professor of Economics, Director and Head of the Isaac Center for Public Policy, Ashoka University. Prior to joining Ashoka, Prachi was Chief of the Systemic Issues Division and Advisor in the Research Department at the International Monetary Fund. Previously, Prachi worked in several IMF departments in Washington, including the office of the First Deputy Managing Director. Between 2018 and 2020, she worked at Goldman Sachs as Managing Director, Global Macro Research, and India Chief Economist. During 2014-17, she served as Specialist Adviser and Head of the Strategic Research Unit at the Reserve Bank of India. During 2012-13, she was Senior Economist in the Office of Chief Economic Advisor in India's Ministry of Finance, and at the Prime Minister's Economic Advisory Council. She also served as a member on the Board of CAFRAL (Center for Advanced Financial Research and Learning, owned and promoted by the RBI), on the External Advisory Council of the Fifteenth Finance Commission of India, and on the Fiscal Responsibility and Budget Management Review Committee. She has a PhD in Economics from Columbia University and a Masters from the Delhi School of Economics. Her research interests are in the areas of international economics, macroeconomics, and the Indian economy and financial markets. For more of our coverage check out thecore.in Subscribe to our Newsletter Follow us on:Twitter | Instagram | Facebook | Linkedin | Youtube
In this episode of the NEON Show, Ashok K. Lahiri, a leading economist and former Chief Economic Advisor, talks about India's economic journey and the changes in its tax system. Lahiri shares why India has fallen behind some countries, pointing to missed opportunities in education, healthcare, and infrastructure. He also highlights the importance of India's democracy and federal system in shaping its progress.Check out Ashok K. Lahiri's book, India in search of glory, https://www.amazon.in/India-Search-Glory-Political-Calculus/dp/067009207X/Time Stamp00:00 - Trailer01:27 - Introduction of Ashok K. Lahiri03:07 - Ashok's upbringing and early education in economics05:27 - Why Ashok went abroad and how UPSC got him back08:33 - Are you satisfied with GDP growth12:42 - Education and health lead to long-term economic growth15:27 - The right to information is important but debatable18:27 - The govt went overboard in the 70s20:37 - What happened to West Bengal24:32 - Improvement will come with liberal society25:57 - Troubles of taxations29:42 - Taxing in the Indira Gandhi era33:27 - People once informed take the right decision37:32 - Chicken and egg in politics39:27 - Why India is on the right track43:27 - Challenges faced by Bangladesh and lessons for India47:32 - India: union of states52:07 - Struggle of India to get where it is right now58:32 - Why we can't blame our ancestors01:01:52 - Importance of transportation and Connectivity------Hi, I am your host Siddhartha! I have been an entrepreneur from 2012-2017 building two products AddoDoc and Babygogo. After selling my company to SHEROES, I and my partner Nansi decided to start up again. But we felt unequipped in our skillset in 2018 to build a large company. We had known 0-1 journeys from our startups but lacked the experience of building 1-10 journeys. Hence was born The Neon Show (Earlier 100x Entrepreneur) to learn from founders and investors, the mindset to scale yourself and your company. This quest still keeps us excited even after 5 years and doing 200+ episodes.We welcome you to our journey to understand what goes behind building a super successful company. Every episode is done with a very selfish motive, that I and Nansi should come out as a better entrepreneur and professional after absorbing the learnings.------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us a text
Gary Cohn, former chief economic advisor to President Donald Trump, says Trump still has time to get his pick for Treasury secretary right.See omnystudio.com/listener for privacy information.
From digital innovation and manufacturing to infrastructure development and financial inclusion, India's economy is poised for an economic transformation, with technology at the forefront of its growth. According to a review report released by its government earlier this year, India's GDP is estimated to hit the $7 trillion mark by 2030. On this episode of Morning Shot, Anantha Nageswaran, Chief Economic Advisor to the Government of India shares his insights on what's ahead for India and how the outcome of the US Presidential Election will affect the South Asian region. Presented by: Ryan HuangProduced & Edited by: Yeo Kai Ting (ykaiting@sph.com.sg)See omnystudio.com/listener for privacy information.
As Labour unveils their first budget in 14 years, the rocket beams in for a bumper Budget special with not one but two stowaways! But what do the rocket's incumbents make of Chancellor Rachel Reeves's first big fiscal challenge.Former Prime Minister Liz Truss explains why she thinks Chancellor Rachel Reeves might have ‘turbo charged taxes' and could be about to ‘crash the car into the wall'.Chief Economist at Net Wealth and former Chief Economic Advisor to Boris, Johnson Dr Gerard Lyons, outlines the good, the bad and the uglier sides of the Budget.Elsewhere on the podcast Allison explains why she has declared her allegiance to one particular candidate in the nearly finalised Tory leadership contest….Read more from Liam: https://www.telegraph.co.uk/authors/liam-halligan/ |Read more from Allison: https://www.telegraph.co.uk/authors/a/ak-ao/allison-pearson/ Need help subscribing or reviewing? Learn more about podcasts here: https://www.telegraph.co.uk/radio/podcasts/podcast-can-find-best-ones-listen/ |Email: planetnormal@telegraph.co.uk |For 30 days' free access to The Telegraph: https://www.telegraph.co.uk/normal | Hosted on Acast. See acast.com/privacy for more information.
What are some of the most important reforms or initiatives needed to achieve the vision outlined in "India@100"? How does the book address potential criticisms of its growth projections and policy recommendations? For the latest episode of SparX, Krishnamurthy Subramanian, renowned economist and author, joins us to discuss his latest book 'India@100'. Explore the vision and strategies for India's economic growth. From ancient economic texts to modern-day reforms, Subramanian offers unique insights into India's growth potential. Tune in to discover the roadmap for India's journey to becoming a $55 trillion economy by 2047. Discover the insights and expertise that can shape India's future. Resource List - The Infrastructure Leasing & Financial Services Ltd (IL&FS) Crisis - https://www.edu91.org/blog/everything-you-need-to-know-about-the-il-fs-fiasco#:~:text=IL&FS%2D%20You%20all%20might%20have,it%20involved%209900%20crore%20rupees. To Know More About the Economic Survey - https://www.indiabudget.gov.in/economicsurvey/ What is a V shaped Recovery? - https://www.nextias.com/ca/current-affairs/30-12-2022/v-shaped-recovery#:~:text=In%20a%20V%2Dshaped%20recovery,the%20economic%20growth%20recovers%20sharply. To Know More About the Global Financial Crisis - https://www.britannica.com/money/financial-crisis-of-2007-2008 To Know More About the Asian Financial Crisis - https://www.investopedia.com/terms/a/asian-financial-crisis.asp#:~:text=The%20Asian%20financial%20crisis%20started,region%20falling%E2%80%94some%20quite%20catastrophically. What is the Golden Quadrilateral? - https://en.wikipedia.org/wiki/Golden_Quadrilateral What is the Pradhan Mantri Gram Sadak Yojana? - https://omms.nic.in/ To Know More About the 1973 Oil Crisis - https://en.wikipedia.org/wiki/1973_oil_crisis What is a Black Swan Event? - https://www.britannica.com/topic/black-swan-event What is Thalinomics? - https://www.indiabudget.gov.in/budget2020-21/economicsurvey/doc/vol1chapter/echap11_Vol1.pdf What is the Rule of 72? - https://www.investopedia.com/terms/r/ruleof72.asp About SparX by Mukesh Bansal SparX is a podcast where we delve into cutting-edge scientific research, stories from impact-makers and tools for unlocking the secrets to human potential and growth. We believe that entrepreneurship, fitness and the science of productivity is at the forefront of the India Story; the country is at the cusp of greatness and at SparX, we wish to make these tools accessible for every generation of Indians to be able to make the most of the opportunities around us. In a new episode every Sunday, our host Mukesh Bansal (Founder Myntra and Cult.fit) will talk to guests from all walks of life and also break down everything he's learnt about the science of impact over the course of his 20-year long career. This is the India Century, and we're enthusiastic to start this journey with you. Follow us on our Instagram: / sparxbymukeshbansal Also check out our website: https://www.sparxbymukeshbansal.com You can also listen to SparX on all audio platforms! Fasion | Outbreak | Courtesy EpidemicSound.com
Is it a buyers market? Why has there been a surge in buyer enquiries this year (which doesn't look to be slowing down any time soon). What's the story behind the latest trends in technology, labor shortages, and business competitiveness? This week on The Deal Room Podcast, Joanna Oakey is joined by Head of SEEK Business, Lucia Vuong and Judo Bank's Chief Economic Advisor, Warren Hogan for a two-part episode covering the latest data in business buyer enquiries, what might be driving the enquiry volumes and what this may mean for the market ahead. In this episode, Part 1 of 2, Warren, Lucia, and Joanna dig into: - Which sectors are seeing the highest buyer inquiries? - Emerging buyer behaviors - Where the widely forecasted “cliff” of retirees currently stands? - What the latest data reveals about different industries - How population shifts between states and regional vs. city areas is impacting the economy. We see hundreds of transactions at Aspect legal, so it's always interesting to see if the data “out there” matches what we're seeing first hand..and guess what… as you'll hear.. It does!
Canada's workforce is among the most educated in the world. But when it comes to worker productivity, we've seen a real slump over the past few years. The quarterly data published by StatCan in June 2024 confirms Canadian workers are continuing to underperform compared to our neighbours to the south. This comes as no surprise to this episode's guest, Guy Gellatly, Chief Economic Advisor at StatCan. The latest quarterly numbers are a continuation of an on-going decline in Canada's productivity that economists have been tracking for years. But what factors influence worker productivity? And why does it matter if Canadians are less productive? As a matter of fact, what even is productivity? In this episode, we asked Guy to help us understand how we got to this point and why it matters for Canadians.
In part one of Red Eye Radio with Gary McNamara and Eric Harley, a rundown of how Biden's "Big Boy" press conference went. David Axelrod and Rachel Maddow imply the President is in a bubble and not receiving information. Democrat Socialists abandon AOC. Biden's Chief Economic Advisor says the President is as sharp as ever. A CNN report says Biden does not have regular meetings with his cabinet. The question is can the Democrats become united? Chris Matthews praises Biden by criticizing Obama. Speaker Johnson goes after Democrat House members who have lied about Biden's cognitive abilities. Slight improvement in inflation numbers because of energy numbers. The Biden Obama civil war. For more talk on the issues that matter to you, listen on radio stations across America Monday-Friday 12am-5am CT (1am-6am ET and 10pm-3am PT), download the RED EYE RADIO SHOW app, asking your smart speaker, or listening at RedEyeRadioShow.com Learn more about your ad choices. Visit podcastchoices.com/adchoices
On today's The Truth Central, Dr. Jerome Corsi explores:The Biden Administration's economic mentality through Modern Monetary Theory. #Tax, Print and Spend does NOT work#Biden's Chief Economic Advisor embarrasses himself, can not explain a simple monetary policy concept#Israel is poised to take #Rafah#CollegeProtests continue, but do the students really know what they are marching and chanting for or are they just trying to be "hip?"John Kerry's fascination with #IranGet Dr. Corsi's new book, The Assassination of President John F. Kennedy: The Final Analysis: Forensic Analysis of the JFK Autopsy X-Rays Proves Two Headshots from the Right Front and One from the Rear, here: https://www.amazon.com/Assassination-President-John-Kennedy-Headshots/dp/B0CXLN1PX1/ref=sr_1_1?crid=20W8UDU55IGJJ&dib=eyJ2IjoiMSJ9.ymVX8y9V--_ztRoswluApKEN-WlqxoqrowcQP34CE3HdXRudvQJnTLmYKMMfv0gMYwaTTk_Ne3ssid8YroEAFg.e8i1TLonh9QRzDTIJSmDqJHrmMTVKBhCL7iTARroSzQ&dib_tag=se&keywords=jerome+r.+corsi+%2B+jfk&qid=1710126183&sprefix=%2Caps%2C275&sr=8-1Join Dr. Jerome Corsi on Substack: https://jeromecorsiphd.substack.com/Visit The Truth Central website: https://www.thetruthcentral.comGet your FREE copy of Dr. Corsi's new book with Swiss America CEO Dean Heskin, How the Coming Global Crash Will Create a Historic Gold Rush by calling: 800-519-6268Follow Dr. Jerome Corsi on X: @corsijerome1Our link to where to get the Marco Polo 650-Page Book on the Hunter Biden laptop & Biden family crimes free online:https://www.thetruthcentral.com/marco-polo-publishes-650-page-book-on-hunter-biden-laptop-biden-family-crimes-available-free-online/If you like what we are doing, please support our Sponsors:MyVitalC https://www.thetruthcentral.com/myvitalc-ess60-in-organic-olive-oil/Swiss America: https://www.swissamerica.com/offer/CorsiRMP.phpThe MacMillan Agency: https://www.thetruthcentral.com/the-macmillan-agency/Pro Rapid Review: https://prorrt.com/thetruthcentralmembers/Become a supporter of this podcast: https://www.spreaker.com/podcast/the-truth-central-with-dr-jerome-corsi--5810661/support.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Steven Skancke, Chief Economic Advisor at Keel Point and Yelena Shulyatyeva, Senior US Economist at BNP Paribas, provide a preview of Wednesday's Fed rate decision. Blomberg News Health Reporter Madison Muller explains Lilly raising 2024 guidance as Zepbound drug flies off shelves. Ruchir Puri, Chief Scientist at IBM Research, shares his thoughts on the rethink of data centers and enterprise around GenAI. Chattanooga, TN Mayor Tim Kelly discusses creating an innovation ecosystem for sustainable mobility. And we Drive to the Close Michael Sheldon, Executive Director at RDM Financial Group. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Steven Skancke, Chief Economic Advisor at Keel Point and Yelena Shulyatyeva, Senior US Economist at BNP Paribas, provide a preview of Wednesday's Fed rate decision. Blomberg News Health Reporter Madison Muller explains Lilly raising 2024 guidance as Zepbound drug flies off shelves. Ruchir Puri, Chief Scientist at IBM Research, shares his thoughts on the rethink of data centers and enterprise around GenAI. Chattanooga, TN Mayor Tim Kelly discusses creating an innovation ecosystem for sustainable mobility. And we Drive to the Close Michael Sheldon, Executive Director at RDM Financial Group. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg News Seattle Bureau Chief Anna Edgerton and Bloomberg News Technology Reporter Alex Barinka share the details of their Businessweek story Congress Should Think Bigger Than TikTok Ban, Tech Critics Say. Steven Skancke, Chief Economic Advisor at Keel Point and Bloomberg Economics US Economist Stuart Paul provide a Fed decision preview. EV Realty CEO Patrick Sullivan discusses installing strategic fleet hubs to electrify America's over-the-road transport. And we Drive to the Close with Jitania Kandhari, Deputy CIO of the Solutions and Multi-Asset Group at Morgan Stanley Investment Management. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.Bloomberg News Detroit Bureau Chief David Welch discusses General Motors beating Wall Street expectations for the fourth quarter and expecting profits this year to grow on improved sales as the US economy chugs along. Brad Case, Chief Economist at Middleburg Communities and Steven Skancke, Chief Economic Advisor at Keel Point, provide a preview the FOMC rate decision on Wednesday. Siggi Hilmarsson, Chairman and Founder of Siggi's, talks about the company's digital detox program to give up your smartphone for a month. Bankrate Senior Data Analyst Alex Gailey reports on why American workers are struggling to save enough to feel financially comfortable. Techonomy Founder David Kirkpatrick and Bloomberg Intelligence Senior Technology Analyst Mandeep Singh break down Alphabet and Microsoft earnings. And we Drive to the Close with Sandy Villere, Portfolio Manager at Villere & Co.Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Dr. Steven Skancke, Chief Economic Advisor at Keel Point, shares his thoughts on the FOMC meeting and looking for clarity on the Fed's views on inflation and interest rates. Brendan Coughlin, Vice Chairman and Head of Consumer Banking at Citizens Financial Group, discusses delving into private credit and the 2024 economic outlook. And we Drive to the Close with Ana Arsov, Global Head of Private Credit & Financial Institutions at Moody's Investors Service. Hosts: Tim Stenovec and Emily Graffeo. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Bloomberg Economics US Economist Stuart Paul and Steven Skancke, Chief Economic Advisor at Keel Point, discuss the Federal Reserve meeting and provide a preview of Wednesday's rate decision. Bloomberg Technology Co-Host Ed Ludlow breaks down Advanced Micro Devices reporting a lackluster revenue forecast and looks at the latest EV news. Martina Larkin, CEO of Project Liberty, talks about efforts to return ownership and control of personal data to individuals. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Media and Entertainment Reporter Samantha Stewart share the details of Samantha's Businessweek Magazine story Hollywood Has Perfected the Lucrative Business of Horror Movies. And we Drive to the Close with Jimmy Lee, CEO at Wealth Consulting Group.Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
See omnystudio.com/listener for privacy information.
Steven Skancke, Chief Economic Advisor at Keel Point and Bloomberg Economics Chief US Economist Anna Wong look ahead to Wednesday's FOMC rate decision and the Fed's summary of economic projections. Hans Kobler, Founder and Managing Partner of Energy Impact Partners, discusses transforming the global economy towards a sustainable future. Johannes Jütting, Executive Head of the Partnership in Statistics for Development at PARIS21, talks about data related to climate, gender equality, evidence-based policy-making. And we Drive to the Close with Charles Tan, Co-CIO of Global Fixed Income at American Century Investments. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Dr. Mohamed El-Erian returns to the podcast to discuss the implications of the recent announcement of the expansion of BRICS, China's economy and possible spillover effects in the West, past forecasting of recession/stagflation, and the Fed's inflation target. We also discuss Mohamed's new book: "Permacrisis: A Plan to Fix a Fractured World" We begin the podcast with a conversation about the upcoming NFL season. To go straight to the discussion about the BRICS, the macro economy and global markets, begin listening at 17:00. Mohamed El-Erian is President of Queens' College at Cambridge University. He serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on the board of the National Bureau of Economic Research, and of Barclays and Under Armour. From 2007-2014, Mohammed was CEO/co-CIO of PIMCO and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007. Book discussed in this episode: Permacrisis: A Plan to Fix a Fractured World -- https://www.barnesandnoble.com/w/books/1143921882?ean=9781398525610
Steven Skancke, Chief Economic Advisor at Keel Point and Bloomberg News Economics Reporter Steve Matthews share their thoughts on the Fed policy and Wednesday's rate decision. Angelo Zino, Senior Equity Analyst at CFRA Research and Bloomberg Intelligence Senior Technology Analyst Anurag Rana break down Microsoft earnings. Dr. Angela Fitch, Chief Medical Officer at Knownwell, explains why Ozempic won't solve the nation's obesity crisis. And we Drive to the Close with Michael Sheldon, Chief Investment Officer at Hightower RDM Financial Group.Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Brian Stockton, Senior Director of Technical Services and Training at Audi, discusses the need for trained EV technicians and the automaker's Audi Education Partnership. Steven Skancke, Chief Economic Advisor at Keel Point, provides a preview of Wednesday's Fed decision. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Startups Reporter Ellen Huet share the details of Ellen's Businessweek Magazine story Layoffs and AI Are Changing Tech's Once Invincible Job Market. And we Drive to the Close with Jeff Krumpelman, Chief Investment Strategist at Mariner Wealth Advisors. Hosts: Matt Miller and Madison Mills. Producer: Paul Brennan. See omny.fm/listener for privacy information.
India Policy Watch #1: Silly Season Is Upon UsInsights on issues relevant to India— RSJLate on Friday this week, the RBI issued a circular withdrawing the circulation of ₹2000 denomination banknotes. The RBI clarified that these notes would continue to serve as legal tender, so this isn't another demonetisation. Here's the Indian Express reporting:THE RESERVE Bank of India (RBI) Friday announced the withdrawal of its highest value currency note, Rs 2,000, from circulation, adding that the notes will continue to be legal tender. It said the existing Rs 2,000 notes can be deposited or exchanged in banks until September 30, but set a limit of “Rs 20,000 at a time”.“In order to ensure operational convenience and to avoid disruption of regular activities of bank branches, exchange of Rs 2,000 banknotes can be made up to a limit of Rs 20,000 at a time, at any bank starting from May 23,” it said.“To complete the exercise in a time-bound manner and to provide adequate time to the members of the public, all banks shall provide deposit and/ or exchange facility for Rs 2,000 banknotes until September 30, 2023,” the RBI said.The RBI circular and the press note also attempt to make a convincing, logical case for this decision. There appear to be three reasons for doing this.Thanks for reading Anticipating the Unintended! Subscribe for free to receive new posts and support my work.One, the ₹2000 denomination notes seem to have served their useful purpose. They were introduced in November 2016 when the legal tender status of existing ₹500 and ₹1000 banknotes in circulation were withdrawn. Looking back, it appears these were introduced to help re-monetise the economy really quickly, which was under the stress of not having adequate new legal tender banknotes. According to the RBI, after this task of re-monetising was completed, the printing of new ₹2000 banknotes was stopped in 2018-19. Therefore, after 5 years of not printing any new notes, this looks like the right time to take them out of circulation completely.Two, since most of the ₹2000 denomination notes were issued prior to 2017, they have apparently completed the typical lifespan of a banknote which is between 4-5 years. In an ideal system, most of these old notes should have come back to the RBI by now. Further, these notes are not seen to be used for transactions anymore. They seem to be just sitting somewhere out there. So, in pursuance of the ‘clean note policy', the best course of action is to withdraw them from circulation. Lastly, there was also an allusion to the ₹2000 notes being often found by various investigative agencies in their haul of black money or frauds. So, somewhere there is a view that withdrawing these notes would smoke these fraudsters out, who are sitting on piles of this unaccounted-for cash.Now, as students of public policy, we must assess this measure based on its intended objectives, the likely costs of doing it and the unintended consequences that are likely to arise. The first reason—that the ₹2000 banknotes have served their purpose, so it is time we take them out—can be scrutinised further. I don't think it was made clear when they were introduced back in November 2016 that the only reason for doing it was to re-monetise the economy quickly. There's a bit of retrofitting of logic here. Also, the decision to stop printing new ₹2000 notes in 2018-19 has meant the total circulation of these notes has been on a decline. In the last four years, the total value of the ₹2000 notes in circulation has gone down from ₹6.5 trillion (over 30 per cent of notes in circulation by value) to about ₹3.6 trillion (about 10 per cent of total circulation by value). I guess, left to itself, we might have had this number slide to a smaller number, say below, ₹1 trillion in the next 3 years. The same point is relevant for the ‘clean note policy' since these notes would have eventually come back if they were not being used for transactions and were already at the end of their lifetime. So, the question is, did we need to accelerate something that would have followed a natural path to the policy objective that's desired? Would another three years of these notes in circulation have been detrimental to some policy objective? It is not clear. What's clear is there will be another season of ordinary citizens queuing up in front of bank branches that will begin on Monday. It might be argued that there won't be any panic because the regulator has made it clear that these notes will continue to be legal tender. But who will receive these notes for any transactions starting today? These notes are as good as useless, and for anyone who uses them for transactions or has stored them for any legal purpose, the only way is to get them exchanged for those notes that are both legal and usable. There's always a sense of schadenfreude among the middle class that it is the rich who will suffer. As was seen during the demonetisation exercise, the poor suffer equally, if not more. The cost of the logistics of sending all ₹2000 notes back from ATMs and branches to the RBI, replacing them with notes of other denominations, the extra hours spent by people exchanging their notes in batches of ₹20,000 and the additional measures to be taken to check for the provenance of the money that will come into the banking system and the risk of frauds during this process are all additional costs to the system. There should be a more compelling upside to these costs except to argue that these notes have served their purpose.Lastly, on high denomination notes abetting corruption and fraud, there's some data from experiences in other countries that suggest this. However, experience in India has shown after the initial ‘disruption', the system finds a new equilibrium, and things continue as usual. The idea that demonetisation would aid the digital economy and will bring down cash in circulation was compelling at that time. But as seen, over time, cash in the economy continued to rise despite a significant ramp-up in digital transactions, which might have happened anyway because of UPI. There are more fundamental reasons for corruption that need to be addressed than making a case for smaller denomination notes. Anyway, the corruption argument never gets old in India, where everyone assumes that, barring them, everyone else around is corrupt. So, the usual arguments have started surfacing on social media that this will impact a small minority of people, and they anyway need to answer why they were hoarding these high denomination notes. And, there's the political masterstroke argument which suggests this will derail the fundraising ability of the opposition in this election year. I'm not sure if that's supported by data because we had the unusual scenario of almost 100 per cent of the invalidated denomination notes during demonetisation eventually returning to the RBI. Nobody was wiser when that happened. The only upside at the end of this exercise will possibly be with banks that will have a temporary increase in their deposits. The scramble for deposits that was on because of shrinking liquidity will abate for some time. That will possibly help them support loan growth that was dependent on deposit mobilisation. That might not be a bad outcome, but it is a torturous way to get there. But then we like convolutions.In parallel, there was another interesting piece of policy-making going on. The TCS (tax collected at source) on international credit card spending outside of India. Earlier during the week, reports emerged that all such spends will now attract a TCS of 20 per cent which can then be recovered by individuals at the time of filing their annual return. The Indian Express on Tuesday reported:THE CENTRAL Government, in consultation with the Reserve Bank of India, in a late night notification Tuesday amended rules under the Foreign Exchange Management Act, bringing in international credit card spends outside India under the Liberalised Remittance Scheme (LRS). As a consequence, the spending by international credit cards will also attract a higher rate of Tax Collected at Source (TCS) at 20 per cent effective July 1.The notification brings transactions through credit cards outside India under the ambit of the LRS with immediate effect, which enables the higher levy of TCS, as announced in the Budget for 2022-23, from July 1. This is expected to help track high-value overseas transactions and will not apply on the payments for purchase of foreign goods/services from India.Prior to this, the usage of an international credit card to make payments towards meeting expenses during a trip abroad was not covered under the LRS. The spendings through international credit cards were excluded from LRS by way of Rule 7 of the Foreign Exchange Management (Current Account Transaction) Rules, 2000. With the latest notification, Rule 7 has now been omitted, paving way for the inclusion of such spendings under LRS.Now, what could be the reason for this? The Chief Economic Advisor in a column in the Indian Express gave an insight into the thinking:It is a fact that remittances under LRS have increased multi-fold in the last few years, and as per data published by the Reserve Bank of India (RBI), LRS remittances which were Rs 0.9 trillion in FY2019, crossed Rs 2 trillion in FY2023. During FY2023, an interesting trend was noticed in the remittances for deposits, purchase of immovable property, investment in equity/debt, gifts/donations and travel. Remittances under these heads constituted almost 70 per cent of the total, representing a year-on-year growth of 74 per cent. Foreign travel alone was almost Rs 1.1 trillion in FY2023, a three-fold increase from the pre-Covid period. In all of these, payments made through credit cards are not reflected as such payments were not subject to the LRS limit. This is an anomaly that needed to be fixed anyway.We are back to the old Indian argument. There are people who are spending money on their credit cards abroad that's not captured in the LRS limit. We need to know who these people are and what is the amount they are spending. That's fair. It is an information problem that needs to be solved. Find out who are the people spending this and add it back to their LRS eligibility. Better still, increase the LRS limit so that people can spend more freely. We aren't in the 70s that we need to conserve foreign exchange through means that make the lives of ordinary citizens difficult. Why should a tax be applied to an information problem? And it is conceptually fine to say that this tax amount is only deposited with the government during the transaction and can be recovered at the time of filing the annual return. But there are way too many complications at an operational level, including upfront working capital costs. The challenge of tracking international spending, separating corporate and individual purchases and optimising for the overall LRS limit, especially if people have kids studying abroad, will burden individuals. For card companies, it will mean helping customers track this, figuring out all sorts of exception scenarios when a customer cancels a foreign transaction on which a TCS has already been paid or where they default on payment but the card company has already deposited the TCS with the government. Instead of simplifying the tax structure and remittances, the attempt is to complicate things to catch hold of a few exceptions. And those who claim this impacts only 7 per cent of people who have a passport, I can only say why inconvenience even 1 per cent of citizens if there's no compelling motive. Thankfully, some sense seems to have prevailed, and we had a clarification from the finance ministry on Friday. The ministry clarified:Concerns have been raised about the applicability of Tax Collection at Source (TCS) to small transactions under the Liberalized Remittance Scheme (LRS) from July 1, 2023. To avoid any procedural ambiguity, it has been decided that any payments by an individual using their international Debit or Credit cards up to Rs 7 lakh per financial year will be excluded from the LRS limits and hence, will not attract any TCS.Small mercies. But it still doesn't fully do away with an unnecessary measure. India Policy Watch #2: Technological Learning is a Marathon, Not a SprintInsights on issues relevant to India— Pranay KotasthaneElectronics manufacturing is a hot topic nowadays, as it is being seen as a lead indicator of India's improving manufacturing prowess. Not a week goes by without reports on this topic, ranging from the mobile exports clocked every quarter and the difficulties encountered by companies in localising production to the uptake of the Production-linked Incentives (PLI) scheme to encourage production. Broadly speaking, the analyses can be classified into two simple categories: detractive (“hum se naa ho paayega” type) and presumptuous (“Hum jahan khade ho jaate hain line wahi se shuru hoti hain” type). I contend that both kinds of analyses make a common mistake: they don't appreciate a concept of called technological learning. This leads them to reach similar conclusions, albeit through different perspectives.Dodgson, a scholar of innovation, defines technological learning as “the ways firms build and supplement their knowledge-bases about technologies, products and processes, and develop and improve the use of the broad skills of their workforces”. The assumption is that firms build additional capabilities over time as and when they keep getting better at doing relatively simpler tasks, projects, and processes. The detractors of India's nascent electronics manufacturing are quick to point out that Indian manufacturers' high failure rates are a clear indication that India cannot do large-scale manufacturing. For instance, the news report that iPhone casings produced at Tata's Hosur plant had a 50 per cent failure rate, has become an oft-cited datapoint to downplay India's manufacturing capabilities. While such critiques should not be dismissed lightly, it's also important not to overreact. Electronics manufacturing in China faced pretty much the same challenges; in fact, Chinese manufacturers had far lower yields in the initial phases. Technological learning and upgradation happen over time; it is unrealistic to expect immediate success in this field.On the other hand, fervent supporters believe that the Indian government can boost manufacturing output and export competitiveness merely by implementing industrial policies and import substitution measures. In this model, PLI schemes, higher import tariffs, and infant industry protection are necessary and sufficient conditions for building India's electronics manufacturing sector. This line of thinking also ignores technological learning. Indian firms will have to begin with the assembly of imported components necessarily. In fact, we should be willing to digest a decrease in the domestic value added per unit of demand over the next few years, as was the case in China and Viet Nam. As Indian manufacturing achieves global scale, local content addition will increase by default, as firms seek to optimise costs, and employees go on to become local entrepreneurs. The hurry to localise domestic value addition runs at odds with exporting competitiveness, a point that the self-assured are ignoring.And so, both viewpoints are misguided due to their disregard for the role of technological learning in manufacturing development. It is crucial to acknowledge that gaining proficiency in manufacturing takes time. Naushad Forbes Business Standard article explains this process of learning took place in East Asia:Firms like Samsung, Hyundai, LG, TSMC and Acer did not start as global brands. They began with outsourcing, as original equipment manufacturers or OEMs, building manufacturing operations of global scale. They used their demanding buyers as a source of technology that made them world-competitive. But they did not stop there. They invested in R&D, as process innovation, to make manufacturing more efficient. They then offered their buyers products with new and improved design, moving up the scale to own design and manufacture or ODM, claiming a piece of the innovation rents that came from better products. This required them to invest in substantial product design capabilities, which over time completely outclassed and replaced the design capabilities of their buyers. And, finally, with world-competitive manufacturing and leading-edge product design in place, they made the shift to own brand manufacture or OBM, launching their own brands, going beyond their home market, spreading step by step into the world. This is the story of Samsung in microwaves and semiconductors, LG in TV sets, Hyundai in cars and excavators, TSMC in microprocessors, and Acer in laptops. This OEM to ODM to OBM story is one of continuous learning. It's crucial to bring technological learning back in conversations on India's manufacturing.P.S.: Earlier this week, the government announced another PLI scheme for "laptops, tablets, all-in-one PCs, servers etc.", with a budgetary outlay of ₹17000 crores over six years. If the government appreciated technological learning, it would accompany this PLI with a reduction in customs duties. Competitive exports need competitive imports of intermediate components and equipment. Matsyanyaaya: Launch India-US Trade into Another OrbitBig fish eating small fish = Foreign Policy in action— Pranay KotasthaneAhead of the Indian PM's visit to the US next month, some of us at Takshashila propose an ambitious agenda on the trade front in this document—increase bilateral trade to $500 billion by 2030 and $1 Trillion by 2040.Here're the pathways to achieve this goal:* Expand the existing US-India 2+28 ministerial dialogue: This dialogue currently comprises the Foreign and Defence ministers from both countries. However, to comprehensively address the intricacies of global trade relations, it would be beneficial to transition to a 3+3 format to include both nations' trade and commerce representatives. * Capitalize on the role of states: The economic landscape in India is witnessing a shift towards the states. Various factors that significantly influence business operations, such as land acquisition and law and order, predominantly lie under the jurisdiction of individual states. Owing to India's vast size and diverse nature, different states have fostered their unique strengths and advantages. The trade relations between the two nations can be further enhanced through a partnership where groups of states engage in reciprocal visits each year, bolstering trade ties and fostering mutual growth. * The Trade Policy Forum (TPF) must be held every year. It is the right cadence to ensure disciplined action and follow-through on ambitious goals. The institutional memory of the TPF will work to create continuity. The old adage "we overestimate what can be done in one year and underestimate what can be done in 5 or 10 years" is particularly applicable here. * The organic growth in trade between companies on either side needs only the occasional enablement. Trade in technology services, pharmaceuticals, SaaS, industrial goods and many other sectors can continue. It will benefit from forums like the US-India Business Council (USIBC) that seek to remove frictions in the ordinary conduct of business and shine a light on some sticky areas. * Create plurilateral trade partnerships. Until now, the US and India do not together find themselves in any regional trade partnership. The revived QUAD, with a heavy security focus, will be one such partnership with significant trade implications. The Indo-Pacific Economic Framework (IPEF) proposed this summer is a promising way to advance on a partnership, but the partnership details must be worked out. For the greater good, India and the US will have to work out sticking points in the data & privacy sections of the agreement. There appears to be significant mutual concurrence on tax, anti-corruption and clean energy, the other three pillars of the IPEF agreement. * Trade in high-technology sectors would get a fillip from the two governments setting up specific framework agreements. The new US-India initiative on Critical and Emerging Technologies (iCET) is an example of a framework agreement that could kickstart interaction between government, industry and academia in areas such as artificial intelligence (AI), semiconductors, 5G/6G telecommunications, quantum computing, biotech, deep ocean and space technologies. * In commercial and societal terms, the exchange of people will be the biggest binding factor between the two countries. In the short term, reciprocal visa access and availability should be addressed on a priority basis. In the longer term, both sides should work on Indians being separated from the general pool of "H1" applicants and in a category of their own. Additionally, the thresholds for each country employing citizens of the other should be brought down gradually. [From Narayan Ramachandran et al., “Time to Launch the US-India Trade Relationship into Another Orbit,” Takshashila Policy Advisory 2023-02]HomeWorkReading and listening recommendations on public policy matters* [Article] Anupam Manur on the ₹2,000 note withdrawal in Moneycontrol — “Like a nightmare resulting from a traumatic experience for a person suffering from PTSD, demonetisation came back to haunt the collective consciousness of this country when the Reserve Bank of India (RBI) decided to recall the 2000 rupee note.”* [Podcast] In the next Puliyabaazi, Devashish Dhar talks about cities, urbanisation, working in government, etc. Strongly recommend it to people considering public policy as a career option.* [Articles 1, 2, & 3] Naushad Forbes' series on private R&D and national innovation in Business Standard is a must-read for those interested in technology geopolitics and tech policy. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit publicpolicy.substack.com
The one and only Clay Clark returns to The Jeff Dornik Show in his first appearance since the ReAwaken America Tour stopped at Trump Doral, at which I spoke at and announced that I'm launching a new social media platform called pickax. During this episode, Clark reveals how banks and our government are colluding to steal our money through legalized theft using a tactic called a bank bail-in. He then drops the truth bomb about Joe Biden's chief economic advisor and how he intends to move the United States off of the dollar and onto a global currency. Don't miss the constant stream of truth bombs from Clay Clark, and grab your tickets for the next ReAwaken America Tour stop in Las Vegas, NV at https://timetofreeamerica.com. If you are not convinced about the need to invest in gold after this episode, I'd be shocked. Request a complimentary consultation from Our Gold Guy to find out the best strategy to protect your wealth from bank collapses and hyper-inflation at https://ourgoldguy.com.
Jamie Dimon, JPMorgan Chase Chairman & CEO, says the debt ceiling issue is potentially catastrophic, and says "you will have panic" the closer the US gets to a default. After PPI data and initial jobless claims, as well as the BOE's rate hike, John Ryding, Chief Economic Advisor at Brean Capital, says a recession in the US and UK is inevitable. Gabelli Funds Co-CIO, explains exactly where he would put money to work amid all the market uncertainties. Megan Horneman, CIO at Verdence Capital Advisors, says there will be more bank crises to come. Tom Tzitzouris, Head of Fixed Income at Strategas, believes this is a good time for the Fed to pause, but to keep the door open to another hike. Brian Wieser, Madison & Wall Principal, joins to discuss Disney's earnings, and the outlook for streaming. 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.
StatCan's Consumer Price Index tells us a lot about the economy… if you know what to look for. Guy Gellatly, Chief Economic Advisor at StatCan, joins us at the mic to break down the CPI and answer our questions about the economy. What's the ideal inflation rate? Is no inflation the best kind of inflation? And what is a deflationary spiral?
Steven Skancke, Chief Economic Advisor at Keel Point, shares his thoughts on Fed policy ahead of Wednesday's rate decision. Dexter Roberts, Senior Fellow at the Atlantic Council's Indo-Pacific Security Initiative, discusses Chinese President Xi Jinping meeting Russian President Vladimir Putin at the Kremlin. Maju Kuruvilla, CEO of Bolt, talks about helping retailers solve one-click checkout technology. And we Drive to the Close with Gina Bolvin, President of Bolvin Wealth Management Group. Hosts: Carol Massar and Jess Menton. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Last week the S&P 500 posted its first down week of the year, confirming fears among those who feel that stocks rose too far and too fast in January, especially given ongoing uncertainties with borrowing costs. Fed officials are now warning that interest rates may have to head higher than expected if inflation doesn't cool fast enough. Joining the show to discuss is Mohamed El-Erian, chief economic advisor at Allianz and president of Queens College at Cambridge University. Also on today's show: World Central Kitchen founder Jose Andres joins us live from Turkey to discuss his team's efforts to feed those impacted by last Monday's devastating earthquake. To learn more about how CNN protects listener privacy, visit cnn.com/privacy
Steven Skancke, Chief Economic Advisor at Keel Point, has a preview of Wednesday's Federal Reserve rate decision. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Trade Tsar Brendan Murray share the details of Brendan's Businessweek Magazine story A Fleet of New Cargo Ships Is Coming. Here's How They're Named. Bloomberg Technology Co-Host Ed Ludlow explains how GM is accelerating a lithium push with an investment in the biggest US mine. And we Drive to the Close with Larry Pitkowsky, Managing Partner at Goodhaven Capital Management.Hosts: Carol Massar and Tim StenovecProducer: Paul BrennanSee omnystudio.com/listener for privacy information.
Is there any precedent for combating inflation that doesn't end in recession or depression? This is one of many questions we have for Dr. Mohamed El-Erian as we look ahead to 2023. What should we expect this year in the markets and the economy? Mohamed El-Erian is President of Queens' College at Cambridge University. He serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on the board of the National Bureau of Economic Research, and of Barclays and Under Armour. From 2007-2014, Mohammed was CEO/co-CIO of PIMCO and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007. Essay discussed in this episode: "Not Just Another Recession: Why the Global Economy May Never Be the Same" https://www.foreignaffairs.com/world/not-just-another-recession-global-economy
Bloomberg News Senior Markets Reporter Katie Greifeld and Bloomberg News Bankruptcy Reporter Steven Church discuss FTX founder Sam Bankman-Fried being charged with eight criminal counts, including conspiracy and wire fraud, for allegedly misusing billions of dollars in customers' funds before the spectacular collapse of his cryptocurrency empire. Steven Skancke, Chief Economic Advisor at Keel Point and Bloomberg News International Economics and Policy Correspondent Michael McKee provide a preview on Wednesday's Federal Reserve rate decision. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Finance Team Leader Sally Bakewell share the details of the Businessweek Magazine story AmEx Hooked Big Spenders, Regained Throne With Pricier Platinum. Rocket Mortgage CEO Jay Farner talks about the mortgage business and the impact Fed policy has on home buyers. And we Drive to the Close with Axel Merk, President & CIO at Merk Investments. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Ali Velshi is joined by NBC's Vaughn Hillyard, Former U.S. Attorney Joyce Vance, Chief Economic Advisor at Allianz SE Mohamed El-Erian, CEO and Co-Founder of Rappler & Author of “How To Stand Up To A Dictator” Maria Ressa, Fmr. Chairman of the Republican National Convention Michael Steele, Fmr. Senior advisor to fmr. Vice President Mike Pence Olivia Troye, Democracy Reporter at The Washington Post Matthew Brown, Fmr. U.S. Secretary of Health and Human Services Kathleen Sebelius, Author of “The Handmaid's Tale” and “Hag-Seed” Margaret Atwood.
Bloomberg Markets Correspondent Kriti Gupta, Bloomberg News Economics Editor Molly Smith and Steven Skancke, Chief Economic Advisor at Keel Point, break down the news that Federal Reserve officials at their meeting earlier this month concluded it would soon be appropriate to slow the pace of rate increases. Dr. Ian Lustbader, Clinical Professor of Medicine at NYU Langone, discusses concerns of a possible “tripledemic.” Bloomberg Businessweek Markets and Finance Editor Pat Regnier and Businessweek Contributor Joel Stein provide the details of Joel's Businessweek story Crypto's Crash Is Helping Couples Rekindle Their Relationships. Bloomberg News US Economy Reporter Augusta Saraiva explains why Taylor Swift's $40,000-plus tickets are a harsh lesson in economics. And we Drive to the Close with Jennifer DeSisto, CIO at Anchor Capital Advisors. Hosts: Carol Massar and Mike Regan. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Record inflation, another wake-up call out of Beijing, a new prime minister in the UK, overhang of supply chain shocks and massive fiscal and monetary stimulus from the pandemic, all against the backdrop of the Russia-Ukraine war, which shows no signs of abating. What are the economic implications of all this? What should Central Banks be doing? Dr. Mohamed El-Erian returns to the podcast. He is President of Queens' College at Cambridge University. Mohamed serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on several non-profit boards, including the NBER, and those of Barclays and Under Armour. From 2007-2014, Mohamed served as CEO/co-CIO of PIMCO. He worked at PIMCO for a total of fourteen years, and was chair of President Obama's Global Development Council. Mohamed also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007.
Pandemic government spending, labour shortages, rising gas prices, and supply chain bottlenecks have led to a surge in inflation and some of the fastest price gains for a broad range of goods and services in the last 40 years. In response, some financial experts expect central banks to raise rates multiple times this year and start selling off some of the hundreds of billions in bonds they purchased during the pandemic. The threat of entrenched inflation supposedly requires central banks to respond aggressively and raise interest rates repeatedly over the course of 2022 despite tightening financial conditions and seemingly slowing economic growth. Other economists disagree, insisting that central banks have responded appropriately by not taking drastic and unnecessary actions that could cause a recession. Long-term inflation pricing in the bond market suggests that the inflation threat is a short-term problem, and small rate increases now can more than offset the risk of runaway, long-term inflation. The bigger risk is an economic slowdown or outright recession brought on by central banks raising rates too fast while selling off hundreds of billions in bonds into a global debt market that will struggle to absorb record government deficits. Arguing for the motion is Mohamed El-Erian, President of Queens' College at Cambridge University and Chief Economic Advisor to Allianz SE Arguing against the motion is David Rosenberg, President and Chief Economist and Strategist of Rosenberg Research & Associates Inc. QUOTES: MOHAMED EL-ERIAN “The Fed has to act and act boldly. Already it has lost some credibility, and if it delays more, it will lose even more credibility and have very few policy options that are attractive.” DAVID ROSENBERG “My view is that inflation is going to ultimately decline of its own accord and the historical record proves that.” Sources: CNN, CNBC, PBS, France24 The host of the Munk Debates is Rudyard Griffiths - @rudyardg. Tweet your comments about this episode to @munkdebate or comment on our Facebook page https://www.facebook.com/munkdebates/ To sign up for a weekly email reminder for this podcast, send an email to podcast@munkdebates.com. To support civil and substantive debate on the big questions of the day, consider becoming a Munk Member at https://munkdebates.com/membership Members receive access to our 10+ year library of great debates in HD video, a free Munk Debates book, newsletter and ticketing privileges at our live events. This podcast is a project of the Munk Debates, a Canadian charitable organization dedicated to fostering civil and substantive public dialogue - https://munkdebates.com/ Senior Producer: Ricki Gurwitz Editor: Reza Dahya
Ali Velshi is joined by NBC News' Ali Vitali, Ukrainian Parliament Member Kira Rudik, Vice President of Russia and Europe at the U.S. Institute of Peace Amb. William B. Taylor, Fmr. Federal Prosecutor Cynthia Alksne, Author of “LADY JUSTICE: Women, the Law, and the Battle to Save America” Dahlia Lithwick, Pulitzer Prize-winning Investigative Reporter with The New York Times Susanne Craig, Pennsylvania Attorney GeneralJosh Shapiro, Chief Economic Advisor at Allianz SE Mohamed El-Erian, President of BancAlliance Lori Bettinger.
Bloomberg News Auto Reporter Keith Naughton discusses Ford saying inflation is pushing supplier costs $1 billion higher than expected in the current quarter. Bloomberg News Washington Correspondent Annmarie Hordern checks in from the 77th session of the UN General Assembly. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Detroit Bureau Chief David Welch share the details of David's Businessweek Magazine story GM Wants to Be the Tortoise, Not the Hare, in the Great EV Race. Steven Skancke, Chief Economic Advisor at Keel Point, provides a preview of Wednesday's Fed rate decision. And we Drive to the Close with Brent Schutte, Chief investment Strategist at Northwestern Mutual Wealth Management. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Ali Velshi is joined by Nancy Northup, President & CEO at Center for Reproductive Rights, Sen. Bob Casey, (D) Pennsylvania, Adm. James Stavridis, Fmr. Supreme Allied Commander at NATO, Fmr. Sen. Doug Jones, (D) Alabama, Mohamed El-Erian, Chief Economic Advisor at Allianz SE, Jennifer Rubin, Opinion Writer at Washington Post, Michael Steele, Fmr. RNC Chairman.
Bloomberg News Finance Reporter Jenny Surane shares the details of her Big Take story ‘Free' Checking Accounts Cost Consumers Over $8 Billion. Bloomberg Businessweek Columnist Max Chafkin explains how Coinbase promised empowerment while pushing questionable assets. Steven Skancke, Chief Economic Advisor at Keel Point, provides a preview of Wednesday's FOMC rate decision. And we Drive to the Close with Bill Page, Senior Portfolio Manager at Essex Investment Management. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan. See omnystudio.com/listener for privacy information.
Inflation hit a staggering 9.1% over the last 12 months, rising 1.3% for the month of June. The increases were “broad-based,” as the Bureau of Labor Statistics (BLS) put it, touching just about every aspect of our lives…especially food prices and energy prices. In anticipation of these new numbers, we invited Dr Mohamed El-Erian back to the podcast. He is President of Queens' College at Cambridge University. Mohamed serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He's a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on several non-profit boards, including the NBER, and those of Barclays and Under Armour. From 2007-2014, Mohammed served as CEO/co-CIO of PIMCO, which has over two trillion under management. He worked at PIMCO for a total of fourteen years, and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment. He has been chair of the Microsoft Investment Advisory Board since 2007 Mohammed is expert in many domains when it comes to the financial markets and the macro economy, but especially - inflation.
Summary: In this week's fact-filled and informative episode, Sadler and the Senator fight back against President Biden's ridiculous claim that it is not his misguided energy policies that are to blame for the nation's high gas prices, but rather it is the small business gas station owners who are to blame for the pain that all Americans are feeling at the pump, even though Biden's Chief Economic Advisor says that these high gas prices are a part of the Democrats' preservation of the new “Liberal World Order”-- whatever the heck that means. As a part of the Senator's “Turning Right Moment,” the fellas welcome one of the most brilliant minds in the United States Congress, Rep. Morgan Griffith (Va-9), to engage in a compelling discussion about the true causes of the outrageous rise in in both inflation and gas prices in America, and what it will take for us all to band together to “Build Back Better, Just Like It Used To Be.” In Hermie Sadler's “Turning Left” racing segment, Bill and Hermie discuss the Nascar® races at Road America in Wisconsin over the past weekend, their part-time driver Ryan Newman's huge win in the SRX Series at Stafford (and Ryan's daughter's wearing of the Sadler/Stanley Racing Sweatshirt on national TV in Victory Lane), the SSR's race team's return to the SMART series at Caraway Speedway that didn't end so well for their driver, their car (that almost flipped over in a wreck) or the team, as well as the race team's new mascot, a rescue kitten found in the parking lot on race day, now named “Jon Boy” after their team's open-wheel modified driver, Jonathan Brown. And, Sadler and the Senator welcome their newest sponsor, Manscaped.com to the podcast, and provide their listeners with an opportunity to buy Manscaped.com's great man-grooming products at a significant discount when they enter the promo code “Sadler” with their online order. The Leaning Right and Turning Left Boys continue to deliver podcast hit after hit, and after you listen to their latest episode, you will agree that this one is a base-clearing home run! MANSCAPED - Get 20% Off and Free Shipping with the code SADLER at Manscaped.com. That's 20% off with free shipping at manscaped.com and use code SADLER. Unlock your confidence and always use the right tools for the job with MANSCAPED™. Learn more about your ad choices. Visit megaphone.fm/adchoices
Pandemic government spending, labour shortages, rising gas prices, and supply chain bottlenecks have led to a surge in inflation and some of the fastest price gains for a broad range of goods and services in the last 40 years. In response, some financial experts expect central banks to raise rates multiple times this year and start selling off some of the hundreds of billions in bonds they purchased during the pandemic. The threat of entrenched inflation supposedly requires central banks to respond aggressively and raise interest rates repeatedly over the course of 2022 despite tightening financial conditions and seemingly slowing economic growth. Other economists disagree, insisting that central banks have responded appropriately by not taking drastic and unnecessary action that could cause a recession. Long term inflation pricing in the bond market suggest that the inflation threat is a short-term problem and small rate increases now can more than offset the risk of runaway, long-term inflation. The bigger risk is an economic slowdown or outright recession brought on by central banks raising rates too fast while selling off hundreds of billions in bonds into a global debt market that will struggle to absorb record government deficits. Arguing for the motion is Mohamed El-Erian, President of Queens' College at Cambridge University and Chief Economic Advisor to Allianz SE Arguing against the motion is David Rosenberg, President and Chief Economist and Strategist of Rosenberg Research & Associates Inc. QUOTES: MOHAMED EL-ERIAN “The Fed has to act and act boldly. Already it has lost some credibility, and if it delays more, it will lose even more credibility and have very few policy options that are attractive.” DAVID ROSENBERG “My view is that inflation is going to ultimately decline of its own accord and the historical record proves that.” Sources: CNN, CNBC, PBS, France24 The host of the Munk Debates is Rudyard Griffiths - @rudyardg. Tweet your comments about this episode to @munkdebate or comment on our Facebook page https://www.facebook.com/munkdebates/ To sign up for a weekly email reminder for this podcast, send an email to podcast@munkdebates.com. To support civil and substantive debate on the big questions of the day, consider becoming a Munk Member at https://munkdebates.com/membership Members receive access to our 10+ year library of great debates in HD video, a free Munk Debates book, newsletter and ticketing privileges at our live events. This podcast is a project of the Munk Debates, a Canadian charitable organization dedicated to fostering civil and substantive public dialogue - https://munkdebates.com/ Senior Producer: Ricki Gurwitz Editor: Reza Dahya
Steven Skancke, Chief Economic Advisor at Keel Point, provides a preview of Wednesday's FOMC meeting and future rate decisions. Bloomberg News HighYield and Distressed Credit Reporter Eliza Ronalds-Hannon explains why Russia is spiraling toward a $150 billion debt default nightmare. Bloomberg Businessweek Editor Joel Weber and Bloomberg News Financial Investigations Reporter Caleb Melby share the details of Caleb's Businessweek Magazine story ADHD Drugs Are Convenient To Get Online. Maybe Too Convenient. And we Drive to the Close with Liz Young, Head of Investment Strategy at SoFi. Hosts: Tim Stenovec and Katie Greifeld. Producer: Paul Brennan. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Jake Sullivan, National Security Adviser to President Biden joins to discuss reports Iran fired an overnight missile that landed near the U.S. consulate in Iraq. He also spoke about the continued conflict in Ukraine. Dmytro Kuleba, Ukrainian Foreign Minister says “President Putin definitely believes that Ukraine has no right to exist as a country. He doesn't recognize our identity. He says we are Russians, we are not Ukrainians.” Kristalina Georgieva, the managing director of the International Monetary Fund, says the Russian economy is being hit hard by sanctions imposed by the U.S. and the West. Anthony Salvanto, CBS' News executive director of elections and surveys breaks down the latest CBS News poll on Americans' feelings on the war in Ukraine and rising gas prices. Mohamed El-Erian, Chief Economic Advisor at Allianz tells Face the Nation moderator Margaret Brennan the Federal Reserve can either raise interest rates and risk a recession, or allow inflation to continue to rise. The mRNA technology Pfizer used to develop their COVID-19 vaccine has the potential to cure certain types of cancer, says CEO Albert Bourla..See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Ben goes to the experts on healthcare and the economy to weigh the Coronavirus challenges from both perspectives. He is joined by Dr. Bob Wachter, Professor and Chair of the Department of Medicine at the University of California, San Francisco, Dr. Scott Atlas of the Stanford University Hoover Institution, and Mohamed El-Erian, Chief Economic Advisor to the financial services company, Allianz. They discuss models used by governments determining whether to shut down the economy, the question of balancing economics and public health, when we can finally get back to normal, and much more. Become a Daily Wire member today — dailywire.com/Shapiro Learn more about your ad choices. Visit podcastchoices.com/adchoices
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