Podcasts about Fed

Jul 22, 2025 – Fiscal stimulus is running hot, the Fed is still on the brake, and stocks refuse to quit—so what's really going on under the hood of the U.S. economy? Discover where the markets and economy are likely heading in the second half...

President Donald Trump has repeatedly attacked Federal Reserve Chair Jerome Powell for not lowering interest rates. But lowering interest rates at the wrong time can spark inflation, which is a burden on working-class families. Today, we'll discuss accountability, independence, and the Fed with Karen Petrou, financial analyst and co-founder of Federal Financial Analytics. And later: Tariffs are straining the relationship between the U.S. and Canada, and they're starting to impact border town tourism.

Officials say 85 Palestinians seeking aid are killed in Gaza, why some Trump allies want to protect the Fed's independence, and tips to beat the summer heat.

Plus: Treasury Secretary Scott Bessent lays out his case to President Trump for why he shouldn't try to push out Fed chair Jerome Powell. And, with earnings season in full swing we look at recent reporting from Stellantis and Ryanair. Kate Bullivant hosts.  Sign up for WSJ's free What's News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Jul 21, 2025 – Explore high-net-worth dividend strategies in this special episode of Lifetime Planning, designed for experienced investors and financial professionals. Host Jim Puplava discusses recent tax law changes affecting portfolio...

We look at global container shipping volumes to assess how tariffs are reshaping trade flows. Two former U.S. Fed chairs, Ben Bernanke and Janet Yellen, issue a rare warning about political pressure on the central bank — could it damage America's economic credibility? In Japan, Prime Minister Shigeru Ishiba faces fresh economic headwinds after losing control of both houses of parliament. And in the UK, we visit an Oxfam bookshop in Hove where a donation from Nick Cave is turning rare books into hot sellers.

KB is joined by Dr. Tiff in this episode of Fed by the Fruit. Dr. Tiff is an expert in health and human performance.At the heart of the discussion Dr. Tiff goes over how important it is to cultivate a healthy relationship with food and fitness, one that honors God's design for our lives rather than succumbing to the pressures of society's expectations.Dr. Tiff shares her personal journey, marked by struggles with body image and perfectionism, which ultimately informs her mission to empower young girls through her organization, Fizeek. We delve into the significance of establishing one's identity in Christ, as opposed to transient accolades or physical appearance.This episode serves as a clarion call for individuals to prioritize their spiritual well-being while navigating the complexities of health and nutrition.Connect with Dr. Tiff at workwithtiff.com and on Instagram.Reach out to KB on Instagram and share your thoughts.

“We're going to be going into very lumpy, bumpy times,” warns Clem Chambers, founder of ANewFN. In a new interview with Daniela Cambone, Chambers predicts a coming credit bust fueled by opaque private lending and overleveraged companies. “If companies can't pay back the credit,” he says, “it will end up in a scenario similar to 2008.” On the Fed, Chambers is emphatic in his support despite the criticism it often receives: “People love to hate on the Fed, but without it, the financial system would've imploded multiple times by now.” He also underscores gold's role in moments of deep systemic uncertainty: “Gold doesn't just rise when inflation's high — it rises when faith in the system cracks.”✅ FREE RESOURCESDownload the Ultimate Decision-Making Guide on Gold & Silver plus Daniela Cambone's Top 10 Lessons to safeguard your wealth (FREE)

Despite relatively low trading volumes and narrow trading ranges as of late, there is still plenty factors top of mind for investors that could stir up market volatility in the weeks ahead. This morning, we check-in on the Q2 earnings season, reflect on Fed independence concerns, and assess macro uncertainty stemming from evolving US trade policy. Plus, a review of CIO's market outlook and portfolio positioning recommendations. Featured is Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office. Host: Daniel Cassidy

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about unlikely July rate cuts, whether Chris Waller will be Trump's shadow Fed president and the latest homebuilder data. Related to this episode: Single-family construction is getting worse due to rates ⁠⁠HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠More info about HousingWire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enjoy the episode! The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate stories. Hosted and produced by the HousingWire Content Studio. Learn more about your ad choices. Visit megaphone.fm/adchoices

Brian and Jeremiah cover what everyone's thinking: Why does the market feel fine if the public doesn't? They unpack the disconnect between bullish investors and frustrated consumers, and what the Fed's “higher for longer” stance really means for housing, inflation, and your portfolio. They also dive into a huge shift coming to our financial system—stablecoins. As Congress pushes new legislation to bring these digital dollar-backed assets into the mainstream, Brian and Jeremiah explain what it means for investors, the banking industry, and anyone tired of waiting 3 days for an ACH transfer. Other highlights this week: how regret can wreck a retirement plan, why cash isn't a long-term strategy, and how to avoid emotional investing traps that burned people during COVID-era markets.   Listen, Watch, Subscribe, Ask! https://www.therealmoneypros.com Host: Brian Wiley & Jeremiah Bates ————————————————————— SPONSORS: Guild Mortgage: https://guildmortgage.com Ataraxis PEO https://ataraxispeo.com Tree City Advisors of Apollon: https://www.treecityadvisors.com Apollon Wealth Management: https://apollonwealthmanagement.com/ Formations: https://get.formationscorp.com/real-money-pros —————————————————————

Welcome to The Chrisman Commentary, your go-to daily mortgage news podcast, where industry insights meet expert analysis. Hosted by Robbie Chrisman, this podcast delivers the latest updates on mortgage rates, capital markets, and the forces shaping the housing finance landscape. Whether you're a seasoned professional or just looking to stay informed, you'll get clear, concise breakdowns of market trends and economic shifts that impact the mortgage world.In today's episode, we examine how lenders are winning business in this high-rate environment. Plus, Robbie sits down with ABL's Kevin Rodman for a discussion on how hard money lending has evolved, what innovations are shaping the future, and why private capital is gaining ground in today's high-rate, high-stakes real estate market. And we close by looking at what to make of all the headlines surrounding the Fed.Thank you to Wholesale Mortgage Direct (WMD) for sponsoring today's podcast. Their mission is to deliver high demand, innovative products unique to the wholesale industry, including MyEQNow, which is one-of-a-kind TraDigital HELOC platform. Looking for innovative HELOC, NonQM and/or Reverse options? WMD is your trusted partner.

Derek Moore and Shane Skinner give their thoughts on the Fed, interest rates, and the Trump vs. Powell situation. Plus, looking at new data on how much revenue US companies derive from overseas markets. Later the talk about what many get wrong about where their stock market returns come from year over year plus those crazy surveys and inflation expectations. Finally, they talk about what the option market is expecting around TSLA earnings   How long are Fed Governor terms? How long is the term of the Federal Reserve Chair? Where returns come from changes in revenues, margins, EPS, buybacks, and dividends Q2 Earnings Season kicks off  Will earnings beat by more than people expect? What percentage do S&P 500 Index companies revenues come from overseas? What about the Mag 7 percentage of foreign earnings? U of Michigan inflation survey still shows crazy disparity between democrats and republicans Trump vs Powell debate Fed interest rate probabilities Will the Fed lower interest rates in July? What the options market says about the TSLA earnings move this week TSLA implied volatility   Mentioned in this Episode   Semper Augustus 2021 letter talking about where returns come from over longer periods https://static.fmgsuite.com/media/documents/db64b928-53d6-43a9-a4d0-a9d2f69f76ba.pdf   Derek Moore's book Broken Pie Chart https://amzn.to/3S8ADNT   Jay Pestrichelli's book Buy and Hedge https://amzn.to/3jQYgMt   Derek's book on public speaking Effortless Public Speaking https://amzn.to/3hL1Mag   Contact Derek derek.moore@zegainvestments.com   

Fed Chair Jerome Powell's caution has infuriated President Donald Trump, who has demanded the Fed cut borrowing costs to spur the economy and reduce the interest rates the federal government pays on its debt. Jill on Money host and CBS News Business Analyst Jill Schlesinger helps Vineeta break it down.

Het Nederlandse stroomnet zit propvol. Op sommige plekken wachten bedrijven maanden — of zelfs jaren — op een zwaardere stroomaansluiting. Energieopslagbedrijf iwell denkt dé oplossing te hebben: slimme batterijen die het net kunnen ontlasten. Met een kapitaalinjectie van 27 miljoen euro wil het bedrijf nu ook Europa veroveren. Jan Willem de Jong, medeoprichter en directeur van iwell is te gast in BNR Zakendoen. Macro met Baarsma Elke dag een intrigerende gedachtewisseling over de stand van de macro-economie. Op maandag en vrijdag gaat presentator Thomas van Zijl in gesprek met econoom Arnoud Boot, de rest van de week praat Van Zijl met econoom Edin Mujagić. Ook altijd terug te vinden als je een aflevering gemist hebt. Blik op de wereld Wat speelt zich vandaag af op het wereldtoneel? Het laatste nieuws uit bijvoorbeeld Oekraïne, het Midden-Oosten, de Verenigde Staten of Brussel hoor je iedere werkdag om 12.10 van onze vaste experts en eigen redacteuren en verslaggevers. Ook los te vinden als podcast. Economenpanel De plannen van Ursula von der Leyen voor de meerjarenbegroting van de Europese Unie zorgen voor onrust onder de lidstaten. En: Donald Trump heeft genoeg van de baas van de Amerikaanse centrale bank. Gaat het de president lukken om Fed-baas Jerome Powell nog vóór het einde van zijn termijn te ontslaan? Dat en meer bespreken we in het economenpanel met Steven Brakman, Hoogleraar internationale economie aan de Rijksuniversiteit Groningen en Hans Stegeman, hoofdeconoom bij de Triodosbank. Luister l Economenpanel Zakenlunch Elke dag, tijdens de lunch, geniet je mee van het laatste zakelijke nieuws, actuele informatie over de financiële markten en ander economische actualiteiten. Op een ontspannen manier word je als luisteraar bijgepraat over alles wat er speelt in de wereld van het bedrijfsleven en de beurs. En altijd terug te vinden als podcast, mocht je de lunch gemist hebben. Contact & Abonneren BNR Zakendoen zendt elke werkdag live uit van 11:00 tot 13:30 uur. Je kunt de redactie bereiken via e-mail. Abonneren op de podcast van BNR Zakendoen kan via bnr.nl/zakendoen, of via Apple Podcast en Spotify. See omnystudio.com/listener for privacy information.

There's no shortage of doom-and-gloom in the podcast world—especially in the gold and silver crowd. You know the type. The ones who spend half their airtime warning you that the dollar is about to collapse, the grid will go down, and that only silver coins will save you. I used to buy into that narrative too. I was a card-carrying member of the Zombie Apocalypse school of personal finance. I even listened to Peter Schiff religiously. But as time passed and I realized that zombies would not rule the world, I gradually became an optimist. I believe in the resilience of the U.S. economy. I don't think society is going to crumble, and I'm not prepping for Armageddon. That said, there is one warning from the doom crowd that's absolutely true—and it's not a matter of opinion. It's a fact. The U.S. dollar is losing value. Fast. That might not feel dramatic. But it should. Because it means that if you're sitting on cash—thinking you're being conservative—you're actually guaranteeing yourself a loss. Robert Kiyosaki said it best: “Savers are losers.”It's a clever phrase, but it's not a joke. It's reality. Inflation isn't a glitch in the system—it is the system. In a country running record-breaking deficits and drowning in debt, the only viable solution is to devalue the currency. In other words, print more money. And whether that inflation comes in at a “modest” 2% like the Fed wants, or 7–9% like we saw in recent years, the outcome is the same: your money loses purchasing power. A dollar in 1970 had the buying power of nearly $8 today. So if your dad tucked away $10,000 in a shoebox thinking he was doing you a favor, that money is now worth a little over $1,200. Even the money you saved in the year 2000 has lost nearly half its value. Inflation is the background noise of our economy. It's always there, always working, always eroding. Slowly when things are “normal.” Fast when they're not. So what do you do? Well, if you're keeping large chunks of money in a savings account paying less than 1% interest while inflation clips along at 3–6%, you are, without exaggeration, bleeding wealth every single day. It feels safe. It looks safe. But it's not.It's a bucket with a hole in the bottom. And you don't even notice until it's almost empty. That's why the wealthy don't hoard cash. They own assets that inflate with inflation. They buy things that grow in value as the dollar shrinks—because they understand the system. They don't fight it. They ride it. Real estate is one of the best tools in the game. Home prices tend to rise over time. Rents go up. But if you lock in a 30-year fixed mortgage, your payment never changes. So while the cost of everything else is climbing, your loan stays frozen. Meanwhile, inflation is silently reducing the real value of the debt you owe. You're paying it back in cheaper dollars every single year. Then you've got ownership in productive businesses. Sure, stock prices can swing in the short term. But long-term? Equities in companies with pricing power—companies that can raise prices when costs go up—often outpace inflation. And as an owner, you benefit directly. And finally, there are the scarce assets. Bitcoin. Gold. Precious metals. In a world where central banks can conjure trillions out of nowhere, things that can't be printed tend to hold real value—or even multiply it. This is how the wealthy play the game.While most people are watching their savings accounts decay quietly, the wealthy are stacking assets that appreciate. They are playing offense in a very predictable system. So those are the basics. But let me give you one more ninja tip from the wealthiest real estate investors in the world: You can print your own money by using debt. Think about it. Let's say you buy a $250,000 property this year using a 30-year fixed mortgage. You put 20% down, so you're financing $200,000. Now fast forward three decades.

Sam Anthony joins us for a great chat about the state of the news and how YourNews is poised to scale up massively for local and global news stories and much more.   We chat about searching for your local news by zip code and how this is a great opportunity for many independent unemployed journalists, especially with the death of mainstream media. We are the media now. We also chat about NGO's, Canadian news, headline manufacturing, radio going out of business, the platform and providing the opportunity, info aggregation, and equity crowd funding.   In the second half we talk about X, cross pollination, the changing landscape, free speech, woke infiltration, and then we switch gears to talk about the whole Epstein thing and Trump, the grand jury theory, buying votes, the collapse of 2007, the Fed, Atlas Shrugged and much more.   Sam Anthony is the founder and CEO of YourNews.com, a rapidly growing, censorship-resistant citizen journalism platform. With over two decades of experience in online media, Sam has been instrumental in designing and implementing technology that empowers thousands of journalists to transition into the digital realm. YourNews.com operates in every U.S. ZIP code, offering hyper-local news and reviving the grassroots journalism approach of the pre-1990s era. The platform allows citizen journalists to report authentic, community-driven stories, providing a stark contrast to centralized corporate media.   To gain access to the second half of show and our Plus feed for audio and podcast please clink the link http://www.grimericaoutlawed.ca/support.   For second half of video (when applicable and audio) go to our Substack and Subscribe. https://grimericaoutlawed.substack.com/ or to our Locals  https://grimericaoutlawed.locals.com/ or Rokfin www.Rokfin.com/Grimerica Patreon https://www.patreon.com/grimericaoutlawed   Support the show directly: https://grimericacbd.com/ CBD / THC Tinctures and Gummies https://grimerica.ca/support-2/ Eh-List Podcast and site: https://eh-list.ca/ Eh-List YouTube: https://www.youtube.com/@TheEh-List Our Adultbrain Audiobook Podcast and Website: www.adultbrain.ca Our Audiobook Youtube Channel:  https://www.youtube.com/@adultbrainaudiobookpublishing/videos Darren's book www.acanadianshame.ca Check out our next trip/conference/meetup - Contact at the Cabin www.contactatthecabin.com Other affiliated shows: www.grimerica.ca The OG Grimerica Show www.Rokfin.com/Grimerica Our channel on free speech Rokfin Join the chat / hangout with a bunch of fellow Grimericans  Https://t.me.grimerica https://www.guilded.gg/chat/b7af7266-771d-427f-978c-872a7962a6c2?messageId=c1e1c7cd-c6e9-4eaf-abc9-e6ec0be89ff3   Leave a review on iTunes and/or Stitcher: https://itunes.apple.com/ca/podcast/grimerica-outlawed http://www.stitcher.com/podcast/grimerica-outlawed Sign up for our newsletter http://www.grimerica.ca/news SPAM Graham = and send him your synchronicities, feedback, strange experiences and psychedelic trip reports!! graham@grimerica.com InstaGRAM https://www.instagram.com/the_grimerica_show_podcast/  Purchase swag, with partial proceeds donated to the show www.grimerica.ca/swag Send us a postcard or letter http://www.grimerica.ca/contact/ ART - Napolean Duheme's site http://www.lostbreadcomic.com/  MUSIC Tru Northperception, Felix's Site sirfelix.bandcamp.com 

Tune in every Monday morning ahead of the New York opening bell as Ulrike Hoffmann-Burchardi, CIO Americas and Head of Global Equities for UBS Wealth Management, briefs you on the most important market drivers in the week ahead, along with opportunities beyond the consensus. This week – How AI will feature in upcoming tech earnings, macro uncertainty stemming from evolving US trade policy, and how to think about Fed independence concerns.

Policy uncertainty is rising—but markets seem unfazed. In this episode, we sit down with Libby Cantrill, Head of Public Policy at PIMCO, to explore the critical policy risks that investors may be underestimating or ignoring altogether.From the real-world implications of the tariffs to questions around Fed independence, fiscal stimulus, and housing market interventions, Libby provides an insider's perspective on what's happening in Washington—and why it matters more than the market suggests.She also discusses how policy risk differs from macroeconomic risk, how investors often price the wrong factors, and why the next shock may not come from where most expect.Topics covered include:Why policy risk remains underappreciated by marketsThe lasting impact of tariffs—and how they could evolveThe Big, Beautiful Tax Bill: What's real, what's hypeRisks to Fed independence and central bank credibilityGSE reform and the political tightrope in housingThe intersection of fiscal policy and market complacencyWhether you're focused on macro trends, portfolio positioning, or simply trying to understand what Washington might throw at markets next, this is a conversation you don't want to miss.

Jul 19, 2025 – What if today's market boom is actually the beginning of a systemic unraveling? In this eye-opening interview, Jim Puplava speaks with Dan Wantrobski...

The 5 things you need to know before the stock market opens today: Chevron has prevailed in its mediation with Exxon over oil assets in Guyana, Federal Reserve Chair Jay Powell has officially responded to White House concerns about Fed building renovations, Amazon is laying off some cloud computing staffers, and the Commerce Department will impose anti-dumping duties on graphite imported from China and used in EVs.  Squawk Box is hosted by Joe Kernen, Becky Quick and Andrew Ross Sorkin.  Follow Squawk Pod for the best moments, interviews and analysis from our TV show in an audio-first format. 

Jul 18, 2025 – What happens when the global economy starts to unravel—and we're forced to bring everything back home? In this thought-provoking conversation, Jim Puplava interviews economist and author Jeff Rubin...

A U.S.-brokered ceasefire takes hold in Syria as the interim president promises to protect the rights of the Druze minority. Trump says he's not planning to fire Fed chair Jerome Powell. Trump's approval rating on immigration drops to its lowest point. And  the biggest piece of Mars ever to make it to earth sells for a record $5.3 million. Sign up for the Reuters Econ World newsletter here. Listen to the Reuters Econ World podcast here. Find the Recommended Read here. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric and Matt dive into the fascinating dynamics of the market from the past quarter. Despite a 10% rise in the S&P 500, the quarter was marked by significant early volatility due to unexpected tariff announcements. The discussion covers the impact of tariffs on markets, the influence of global trade tensions, and the interplay between short-term and long-term market reactions. They also delve into the implications of AI and new technologies on market trends and the potential for volatility driven by algorithmic trading. The episode explores the role of the US Federal Reserve, the evolving market perception of Bitcoin, and the broader economic impacts of geopolitical events.  For the full show notes, transcript, and links to the best content to learn more, check out the episode page HERE. ----- Making Markets is a property of Colossus, LLC. For more episodes of Making Markets, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @makingmkts | @ericgoldenx Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Show Notes (00:00:00) Welcome to Making Markets (00:01:34) Market Reactions to Tariffs (00:03:38) Trump's Strategy and Market Dynamics (00:06:33) Volatility and Market Structure (00:15:33) Geopolitical Tensions and Market Impact (00:20:28) AI Revolution and Market Sentiment (00:24:25) The Gold Rush Analogy in Business (00:25:43) Private Investment Trends and Mega Funds (00:26:26) Yale's Investment Strategy and Its Impact (00:27:22) Challenges in Private Equity Liquidity (00:29:46) Jerome Powell and the Federal Reserve (00:30:51) The Role of the Fed in Economic Stability (00:34:25) Trump's Influence on Treasury and Fed Dynamics (00:40:31) The Impact of AI and Inflation on the Economy (00:43:34) Bitcoin's Maturation and Market Dynamics (00:47:04) Concluding Thoughts on Market Trends Learn more about your ad choices. Visit megaphone.fm/adchoices

Torsten rejoins Jason in the New York podcast studio to exchange thoughts on Fed independence (and the course for monetary policy), the direction of US trade policy (and economic implications), along with 2H25 market outlooks and portfolio positioning considerations. Featured are Jason Draho, Head of Asset Allocation Americas, UBS Chief Investment Office, and Torsten Slok, Partner and Chief Economist with Apollo Global Management. Host: Daniel Cassidy

After this week's events, the question is whether anyone can advocate for US rate cuts without being seen as a political puppet? Yesterday, Federal Reserve Governor Waller offered some (debatable, but valid) economic points in favor of US rate cuts, but the position is politically tainted. The problem for the Fed and markets is that the US administration's policy continues to create considerable uncertainty about the economic outlook.

Richard Rosso & Matt Doyle host Rich's last live Radio-episode* and reveal the reason for Matt's recent absence from the show. Airport Security parameters; strong start to Earnings Season; references to '80's TV sit-coms; market futures, Lance's charts, the ultimate Death Cross; Richard previews Saturday's (7/19) Candid Coffee, and the genesis of the partnership with Lance Roberts; understanding Money Scripts; Netflix & streaming services; Gen-Z and Social Media. Rich and Matt discuss the possibilities of Mrs. Roberts' bakery/coffee shop; Retail Sales report analysis: People are still spending. The Paradox of Thrift, Fed meetings and a brief history of the Federal Reserve Banking System. Rich reviews American Express' report, debt to income ratios and Money Scripts (Brad Klontz); how childhood location bears on credit scores in later life. * NOTE: The Real Investment Show will be 100% digital starting Monday, August 4. Please be sure you're SUBSCRIBED here to catch each episode! SEG-1: Matt's Back (and leg) & some market commentary SEG-2a: Candid Coffee Preview SEG-2b: Money Scripts & Financial Success SEG-3a: Mrs. Roberts' Coffee Shop & Retail Spending SEG-3b: Retail Sales Summary SEG-4: AmEx reports, Money Scripts, & Managing Money Hosted by RIA Advisors Director of Financial Planning, Richard Rosso, CFP, w Senior Relationship Manager, Matt Doyle, CFP Produced by Brent Clanton, Executive Producer ------- Watch today's video on YouTube: https://www.youtube.com/watch?v=XaEHi-fSbuQ&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "The Magnificent Seven Are Mediocre" https://realinvestmentadvice.com/resources/blog/the-magnificent-seven-are-mediocre/ ------- The latest installment of our new feature, Before the Bell, "Prepare Now for Correction," is here: https://youtu.be/VDnRZFc0Hpw ------- Our previous show is here: "The Magnificent 7 Are Mediocre," https://www.youtube.com/watch?v=dFXBBqri1lo&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Register for our next live webinar, "RIA Retirement Blueprint," July 19, 2025: https://streamyard.com/watch/qaMtj3cydgDQ ------- Get more info & commentary: https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MoneyScripts #CreditScoreTips #FinancialMindset #CreditHealth #MoneyBehavior #EarningsSeason #RetailSales #Inflation #ParadoxOfThrift #InvestingAdvice #Money #Investing

On today's episode, Editor in Chief Sarah Wheeler talks with Lead Analyst Logan Mohtashami about what happens to housing if the Fed doesn't cut rates at all this year. Related to this episode: The battle over rates: Trump vs. Fed Chair Jerome Powell ⁠HousingWire | YouTube⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠More info about HousingWire⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enjoy the episode! The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate stories. Hosted and produced by the HousingWire Content Studio. Learn more about your ad choices. Visit megaphone.fm/adchoices

Richard Rosso & Matt Doyle host Rich's last live Radio-episode* and reveal the reason for Matt's recent absence from the show. Airport Security parameters; strong start to Earnings Season; references to '80's TV sit-coms; market futures, Lance's charts, the ultimate Death Cross; Richard previews Saturday's (7/19) Candid Coffee, and the genesis of the partnership with Lance Roberts; understanding Money Scripts; Netflix & streaming services; Gen-Z and Social Media. Rich and Matt discuss the possibilities of Mrs. Roberts' bakery/coffee shop; Retail Sales report analysis: People are still spending. The Paradox of Thrift, Fed meetings and a brief history of the Federal Reserve Banking System. Rich reviews American Express' report, debt to income ratios and Money Scripts (Brad Klontz); how childhood location bears on credit scores in later life.   * NOTE: The Real Investment Show will be 100% digital starting Monday, August 4. Please be sure you're SUBSCRIBED here to catch each episode!  SEG-1: Matt's Back (and leg) & some market commentary SEG-2a: Candid Coffee Preview SEG-2b: Money Scripts & Financial Success SEG-3a: Mrs. Roberts' Coffee Shop & Retail Spending SEG-3b: Retail Sales Summary SEG-4: AmEx reports, Money Scripts, & Managing Money   Hosted by RIA Advisors Director of Financial Planning, Richard Rosso, CFP, w Senior Relationship Manager, Matt Doyle, CFP  Produced by Brent Clanton, Executive Producer ------- Watch today's video on YouTube: https://www.youtube.com/watch?v=XaEHi-fSbuQ&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Articles mentioned in this report: "The Magnificent Seven Are Mediocre" https://realinvestmentadvice.com/resources/blog/the-magnificent-seven-are-mediocre/ ------- The latest installment of our new feature, Before the Bell, "Prepare Now for Correction," is here:  https://youtu.be/VDnRZFc0Hpw ------- Our previous show is here: "The Magnificent 7 Are Mediocre," https://www.youtube.com/watch?v=dFXBBqri1lo&list=PLVT8LcWPeAugpcGzM8hHyEP11lE87RYPe&index=1 ------- Register for our next live webinar, "RIA Retirement Blueprint," July 19, 2025: https://streamyard.com/watch/qaMtj3cydgDQ ------- Get more info & commentary:  https://realinvestmentadvice.com/newsletter/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #MoneyScripts #CreditScoreTips #FinancialMindset #CreditHealth #MoneyBehavior #EarningsSeason #RetailSales #Inflation #ParadoxOfThrift  #InvestingAdvice #Money #Investing

We have a double-length special guest segment this week, featuring Dr. Jeffrey Lacker, former President of the Richmond Federal Reserve Bank. Dr. Lacker takes us through some of the history of monetary policy and gives us inside baseball on how much influence the Chair of the Fed really has in practice. But first, Michael Farr welcomes Kenny Polcari who warns us of rising complacency, and Dan Mahaffee who gives us a rundown of the latest in DC.It's The FarrCast -- Wall Street, Washington, and The World!

Senate Republicans voted to take back billions of dollars in funding for foreign aid and public broadcasting, President Trump has been threatening to fire Fed chair Jerome Powell before his term ends next year, and Israel launched airstrikes into Syria's capital of Damascus. Want more comprehensive analysis of the most important news of the day, plus a little fun? Subscribe to the Up First newsletter.Today's episode of Up First was edited by Gerry Holmes, Dana Farrington, Miguel Macias, Janaya Williams and Mohamad ElBardicy.It was produced by Ziad Buchh, Nia Dumas and Christopher Thomas.We get engineering support from David Greenburg. And our technical director is Carleigh Strange. Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

Trump has been going back and forth on his desire to fire Fed Chair Jerome Powell. Neil Irwin from Axios discusses whether the president has the power, and why a recent Fed building renovation matters. The Senate just passed a bill that would cut more than $1.1 billion in previously allocated federal funds for public media. The Wall Street Journal reports. The president of PBS tells the Washington Post the move would result in an existential crisis for member stations that depend on federal dollars. Umair Irfan with Vox describes why it has been so challenging for Los Angeles to rebuild after its devastating fires. Plus, Trump hit out at his own supporters over the Epstein files, why Israel just bombed Syria, and how a major breakthrough in IVF treatment that involves using the DNA of three people could prevent disease. Today’s episode was hosted by Shumita Basu.

Today's Headlines: Israel launched missile strikes on Syria's military HQ in Damascus, potentially destabilizing the new Syrian government amid talks to normalize relations. Despite the Trump administration's request to hold back, Israel is sending more troops to the border, citing threats to the Druze community. Meanwhile, Trump hosted Bahrain's crown prince, who pledged $17 billion in U.S. investments—though details were vague, aside from a symbolic model airplane. Trump also denied plans to fire Fed Chair Jerome Powell, despite telling Republicans otherwise, and floated the Fed's over-budget HQ renovations as a possible excuse. Separately, the administration fired federal prosecutor Maurene Comey—daughter of James Comey—who had handled the Epstein, Maxwell, and Diddy cases, offering no clear reason. Trump mocked his own supporters who believe Epstein conspiracy theories, calling them “weaklings,” while still refusing to release promised files. And in two more Trump-world twists: DHS deported five migrants to Eswatini, an African country none of them were from, and federal agents arrested nine anti-ICE protesters in Spokane. Lastly, $100 million worth of Trump memecoins are unlocking today, padding the president's net worth. Resources/Articles mentioned in this episode: Axios: Israel bombs Syrian capital despite U.S. pressure to "stand down" Bloomberg: Bahrain's PM Vows $17 Billion US Investment During Trump Meeting NBC News: Trump says it's 'highly unlikely' he will fire Fed Chair Powell after broaching idea with GOP reps Axios: Trump says Fed renovations issue might be fireable for Powell WaPo: DOJ fires Maurene Comey, prosecutor involved in Epstein, Diddy cases AP News: Trump slams his own supporters as 'weaklings' for falling for what he now calls the Epstein 'hoax' Axios: DHS sends migrants to Eswatini in new 3rd-country deportation Seattle Time: Federal government accuses nine Spokane protesters of violence against ICE Bloomberg: Trump Memecoin Unlock To Test Crypto Demand Morning Announcements is produced by Sami Sage and edited by Grace Hernandez-Johnson Learn more about your ad choices. Visit megaphone.fm/adchoices

President Donald Trump wants Federal Reserve Chair Jerome Powell to cut interest rates. But the Fed makes that call based on analyzing the economy, not a president's wishes. This has some concerned that the president is looking for a pretext to fire Powell — like costly renovations to the Fed's DC headquarters. Plus, these are the dog days of summer travel. And, who's really paying for tariffs: foreign exporters or U.S. businesses?

In part one of Red Eye Radio with Gary McNamara and Eric Harley, the Fed keeps his chair and Coca Cola gets sweeter. But back to Jerome Powell, he gets to keep his seat (after all). Also the President calls out MAGA supporters for being selfish, the Epstein files: to be or not to be, the President calls it "the Epstein hoax", the PBS funding issue continues (does anyone actually listen to public radio for emergencies?) in fact taxpayers should support any "good"content..including Red Eye Radio! Also Hunter Biden blames democrats for his disloyalty to his father, the fast moving news cycle, Senate GOP advances $9B spending cuts bill over Democrat and internal GOP resistance, the democratic grand conspiricy against Donald Trump and much more! 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

President Donald Trump wants Federal Reserve Chair Jerome Powell to cut interest rates. But the Fed makes that call based on analyzing the economy, not a president's wishes. This has some concerned that the president is looking for a pretext to fire Powell — like costly renovations to the Fed's DC headquarters. Plus, these are the dog days of summer travel. And, who's really paying for tariffs: foreign exporters or U.S. businesses?

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyTikTokYouTubeFutures and options trading involves risk of loss and is not suitable for everyone.0:00 Trump and Coke3:17 Soybean Rally4:41 US Weather8:23 US/China Tensions Ease9:37 Ethanol Production10:28 Trump and Powell

Donald Trump asked lawmakers whether he should fire Federal Reserve chair Jay Powell, and Wall Street saw a surprise comeback in investment banking fees. Plus, the UK's inflation rate rose higher than expected last month, and yields on Japan's 10-year government debt jumped ahead of Sunday's election.Mentioned in this podcast:Donald Trump asked lawmakers whether he should fire Fed's Jay Powell Goldman Sachs profits jump 22% after investment banking gains UK inflation unexpectedly rises to 18-month high of 3.6%Japan's 10-year yield hits highest level since 2008 financial crisisCredit: Fox NewsSend in your Swamp Notes questions (Marc.Filippino@FT.com)Today's FT News Briefing was produced by Sonja Hutson, Katya Kumkova, Ethan Plotkin, Henry Larson and Marc Filippino. Additional help from Blake Maples, Michael Lello and David da Silva. Our acting co-head of audio is Topher Forhecz. Our intern is Michaela Seah. The show's theme song is by Metaphor Music. Read a transcript of this episode on FT.com Hosted on Acast. See acast.com/privacy for more information.

President Trump has said he won't attempt to fire sitting Fed Chair Jerome Powell, but change is coming to the central bank regardless. On Wall Street and in Washington, names floated for the next Federal Reserve chair have included current NEC director Kevin Hassett and former Fed governor Kevin Warsh. In an extended interview, Kevin Warsh calls for a regime change at the bank, positing a revised theory of inflation and sharing lessons from his own history in finance. Plus, President Trump announced that Coca-Cola agreed to use cane sugar in its U.S. drinks, and the House of Representatives has voted to bring forward crypto legislation. Kevin Warsh - 18:39 In this episode: Joe Kernen, @JoeSquawkBecky Quick, @BeckyQuickAndrew Ross Sorkin, @andrewrsorkinKatie Kramer, @Kramer_Katie

On a busy earnings Thursday, Carl Quintanilla and Jim Cramer explored market reaction to results and guidance from companies including GE Aerospace, United Airlines and Taiwan Semiconductor. PepsiCo CEO Ramon Laguarta joined Sara Eisen, Jim and Carl in an exclusive interview. They discussed everything from the company's Q2 earnings beat -- to President Trump's push to get Coca-Cola to use cane sugar in Coke products. The anchors reacted to Trump's comment that he is "unlikely" to fire Fed Chair Powell -- as CEOs defend Fed independence. Also in focus: What to expect from Netflix's after-the-bell earnings, health insurer Elevance tumbles, Union Pacific reportedly exploring an acquisition of one of its rivals.Squawk on the Street Disclaimer

Get Howard's book here: https://a.co/d/dKN61sC   Tariffs are threatening, AI is replacing jobs, inflation is on the rise, and the word “recession” is being bandied about. The economy is on everyone's mind these days—because we're living it! But few people feel like they understand economics well enough to determine which policies would work best and champion those policies effectively.   Howard Yaruss can break down our economic system in a straightforward, nonpartisan way, avoiding jargon as he answers such questions as:   · Who pays for tariffs and how do they affect prices, jobs, and our economy? · Are the government's huge deficits and escalating national debt threats to our well-being? · What causes inflation, how big a problem is it, and how can we rein it in? · Could alternative currencies like Bitcoin replace the dollar? · What does the Fed do and how does it affect our lives? · Why is inequality soaring and what can we do about it? · Do tax cuts for the wealthy create jobs or just more inequality? · Why do so many people believe free trade is good if it causes some people to lose jobs? · Are we headed for a recession and, if so, what can be done to get the economy back on track?   HOWARD YARUSS is an economist, professor, attorney, businessman, and activist who has taught a variety of courses on economics and business and currently teaches at New York University. Prior to teaching, he served as Executive Vice President and General Counsel of Radian Group, one of the largest guarantors of debt in the world. Yaruss graduated from Brown University, studied at the London School of Economics, and earned a law degree from the University of Pennsylvania.   Check out our new bi-weekly series, "The Crisis Papers" here: https://www.patreon.com/bitterlakepresents/shop   Thank you guys again for taking the time to check this out. We appreciate each and everyone of you. If you have the means, and you feel so inclined, BECOME A PATRON! We're creating patron only programing, you'll get bonus content from many of the episodes, and you get MERCH!   Become a patron now https://www.patreon.com/join/BitterLakePresents?   Please also like, subscribe, and follow us on these platforms as well, (specially YouTube!)   THANKS Y'ALL   YouTube: https://www.youtube.com/channel/UCG9WtLyoP9QU8sxuIfxk3eg Facebook: https://www.facebook.com/Thisisrevolutionpodcast/ Twitter: @TIRShowOakland Instagram: @thisisrevolutionoakland   Read Jason Myles in Sublation Magazine https://www.sublationmag.com/writers/jason-myles   Read Jason Myles in Damage Magazine https://damagemag.com/2023/11/07/the-man-who-sold-the-world/   Read Jason in Unaligned here: https://substack.com/home/post/p-161586946...   Read, "We're All Sellouts Now" here: https://benburgis.substack.com/.../all-we-ever-wanted-was...

Caleb Franzen, founder of Cubic Analytics, joined me to review his outlook and price predictions for Bitcoin, Ethereum, XRP, and the Altcoin market.https://x.com/CalebFranzenhttps://cubicanalytics.substack.com/Show Sponsor -

0:00 - CPS sued 10:18 - Epstein “hoax” 32:47 - Epstein accuser Maria Farmer...they recorded everything 57:11 - John Tamny, editor of RealClearMarkets & Director of the Center for Economic Freedom at FreedomWorks, on the FED chair and interest rates - “replacing Powell won’t alter reality” Check out John’s most recent book The Money Confusion: How Illiteracy about Currencies and Inflation Sets the Stage for the Crypto Revolution 01:11:07 - NPR 01:33:50 - Chief Political Analyst at The Liberal Patriot, Michael Baharaeen, offers A Final, Comprehensive Look at How Trump Won in 2024. For more from Michael michaelbaharaeen.substack.com 01:52:03 - Mark P. Mills, founder and executive director of the National Center for Energy Analytic, on Zohran Mamdani, AI, and the Job Apocalypse. Follow Mark on X @MarkPMills 02:12:27 - James Fitzgerald, retired FBI Special Agent and criminal profiler from the Unabomber case—and now co-host of the “Cold Red” podcast—on the FBI’s mishandling of the Epstein files and what it reveals about the list that may or may not exist. Check out the latest edition to James’ memoir series A Journey to the Center of the Mind at jamesrfitzgerald.comSee omnystudio.com/listener for privacy information.

Does a regular citizen have a chance to win a city council seat anywhere closest to the country's tallest buildings? More alarming news about Omar Fateh. Johnny Heidt with guitar news. Heard On The Show:US attorney announces grand jury indictment against accused assassin Vance BoelterMan shot in exchange of gunfire with authorities in western MN charged with attempted murder, assaultTrump says he's ‘highly unlikely' to fire Fed's Powell after floating that idea in privateSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Tuesday on the News Hour, a slight uptick in inflation muddies the economic waters as the Fed chair faces White House pressure to lower interest rates. The president's reversal on arming Ukraine sparks debate about the best way to end the war. Plus, we travel to Kenya to see how USAID projects to bring water and hope to a drought-ridden land are now in peril. PBS News is supported by - https://www.pbs.org/newshour/about/funders

Donate (no account necessary) | Subscribe (account required) Join Bryan Dean Wright, former CIA Operations Officer, as he breaks down today's biggest stories shaping America and the world. Epstein Case Reignites as Trump Calls for Transparency President Trump reverses course and says credible Epstein files should be released. This comes amid new analysis showing missing jail footage from the night Epstein died, raising fresh suspicions about foul play. House Democrats demand full disclosure, while Bryan calls out AG Pam Bondi for mishandling the case. Trump's Economic Agenda Delivers Wins on Minerals, Trade, and Energy The Pentagon and private firms like Apple ramp up investment in U.S. rare earth minerals to cut dependence on China. Trump signs a new trade deal with Indonesia requiring $20 billion in U.S. imports and cooperation to stop Chinese transshipment. Meanwhile, tech giants pledge $56 billion for new AI centers in Pennsylvania, driving demand for nuclear, hydro, and grid expansion. Inflation Holds at 2.7% Amid Questions Over Federal Data Accuracy June's CPI report shows mild inflation, suggesting tariffs aren't yet hitting consumers. But 35% of prices were estimated, not observed. Fueling concerns the Fed may be basing decisions on faulty data. Bryan warns this could keep interest rates unnecessarily high. Trump Tactics with Russia: Escalate to De-Escalate Trump reportedly encouraged Ukraine to consider striking Moscow to push Putin toward a ceasefire. Though he walked it back publicly, Bryan explains this could be a calculated bluff to pressure the Kremlin as the 50-day ceasefire deadline nears. Syrian Massacre Tests Trump and U.S. Intelligence Syrian troops allied with radical Sunni tribes slaughter over 160 Druze civilians, contradicting assurances that President al-Sharaa was a reformed Islamic leader. Israel launched airstrikes to halt the killings, but Trump asks them to hold off. Bryan questions whether U.S. intel got it wrong—or if al-Sharaa has lost control. Anti-Nausea Drug May Cut Breast Cancer Deaths A Norwegian study finds aprepitant, a common nausea medication, reduces cancer relapse and mortality, especially in aggressive triple-negative cases. Researchers are unsure why, but the drug shows potential as a powerful new ally in chemo treatment. "And you shall know the truth, and the truth shall make you free." – John 8:32

On Tuesday, we learned that inflation rose last month. The New York Times said inflation “accelerated,” ABC News noted it “surged,” and other reports observed that President Trump's tariffs are starting to produce long-predicted price hikes. Trump reacted angrily. He pretended the surge was nonexistent, and then deflected by unleashing a furious tweet at Federal Reserve chairman Jerome Powell that demanded: “Bring down the Fed rate NOW!!!” Trump then unleashed an angry rant to reporters further excoriating Powell. Trump might have also been ticked because his 2024 campaign polling firm just released a memo harshly warning that House Republicans are in trouble in the midterms, and Trump's cuts to the safety net help explain why. We talked to economist Kathryn Edwards, a skillful decoder of Trumponomics. She explains the inflation news, why Trump's perfect storm of policies are hurting working people, and how Democrats should respond by swinging big on the economy in ways they usually don't.  Looking for More from the DSR Network? Click Here: https://linktr.ee/deepstateradio Learn more about your ad choices. Visit megaphone.fm/adchoices

Our analysts Paul Walsh, James Lord and Marina Zavolock discuss the dollar's decline, the strength of the euro, and the mixed impact on European equities.Read more insights from Morgan Stanley.----- Transcript -----Paul Walsh: Welcome to Thoughts on the Markets. I'm Paul Walsh, Morgan Stanley's Head of European Product. And today we're discussing the weakness we've seen year-to-date in the U.S. dollar and what this means for the European stock market.It's Tuesday, July the 15th at 3:00 PM in London.I'm delighted to be joined by my colleagues, Marina Zavolock, Morgan Stanley's Chief European Equity Strategist, and James Lord, Morgan Stanley's Chief Global FX Strategist.James, I'm going to start with you because I think we've got a really differentiated view here on the U.S. dollar. And I think when we started the year, the bearish view that we had as a house on the U.S. dollar, I don't think many would've agreed with, frankly. And yet here we are today, and we've seen the U.S. dollar weakness proliferating so far this year – but actually it's more than that.When I listen to your view and the team's view, it sounds like we've got a much more structurally bearish outlook on the U.S. dollar from here, which has got some tenure. So, I don't want to steal your thunder, but why don't you tell us, kind of frame the debate, for us around the U.S. dollar and what you're thinking.James Lord: So, at the beginning of the year, you're right. The consensus was that, you know, the election of Donald Trump was going to deliver another period of what people have called U.S. exceptionalism.Paul Walsh: Yeah.James Lord: And with that it would've been outperformance of U.S. equities, outperformance of U.S. growth, continued capital inflows into the United States and outperformance of the U.S. dollar.At the time we had a slightly different view. I mean, with the help of the economics team, we took the other side of that debate largely on the assumption that actually U.S. growth was quite likely to slow through 2025, and probably into 2026 as well – on the back of restrictions on immigration, lack of fiscal stimulus. And, increasingly as trade tariffs were going to be implemented…Paul Walsh: Yeah. Tariffs, of course…James Lord: That was going to be something that weighed on growth.So that was how we set out the beginning of the year. And as the year has progressed, the story has evolved. Like some of the other things that have happened, around just the extent to which tariff uncertainty has escalated. The section 899 debate.Paul Walsh: Yeah.James Lord: Some of the softness in the data and just the huge amounts of uncertainty that surrounds U.S. policymaking in general has accelerated the decline in the U.S. dollar. So, we do think that this has got further to go. I mean, the targets that we set at the beginning of the year, we kind of already met them. But when we published our midyear outlook, we extended the target.So, we may even have to go towards the bull case target of euro-dollar of 130.Paul Walsh: Mm-hmm.James Lord: But as the U.S. data slows and the Fed debate really kicks off where at Morgan Stanley U.S. Economics research is expecting the Fed to ultimately cut to 2.5 percent...Paul Walsh: Yeah.Lord: That's really going to really weigh on the dollar as well. And this comes on the back of a 15-year bull market for the dollar.Paul Walsh: That's right.James Lord: From 2010 all the way through to the end of last year, the dollar has been on a tear.Paul Walsh: On a structural bull run.James Lord: Absolutely. And was at the upper end of that long-term historical range. And the U.S. has got 4 percent GDP current account deficit in a slowing growth environment. It's going to be tough for the dollar to keep going up. And so, we think we're sort of not in the early stages, maybe sort of halfway through this dollar decline. But it's a huge change compared to what we've been used to. So, it's going to have big implications for macro, for companies, for all sorts of people.Paul Walsh: Yeah. And I think that last point you make is absolutely critical in terms of the implications for corporates in particular, Marina, because that's what we spend every hour of every working day thinking about. And yes, currency's been on the radar, I get that. But I think this structural dynamic that James alludes to perhaps is not really conventional wisdom still, when I think about the sector analysts and how clients are thinking about the outlook for the U.S. dollar.But the good news is that you've obviously done detailed work in collaboration with the floor to understand the complexities of how this bearish dollar view is percolating across the different stocks and sectors. So, I wondered if you could walk us through what your observations are and what your conclusions are having done the work.Marina Zavolock: First of all, I just want to acknowledge that what you just said there. My background is emerging markets and coming into covering Europe about a year and a half ago, I've been surprised, especially amid the really big, you know, shift that we're seeing that James was highlighting – how FX has been kind of this secondary consideration. In the process of doing this work, I realized that analysts all look at FX in different way. Investors all look at FX in different way. And in …Paul Walsh: So do corporates.Marina Zavolock: Yeah, corporates all look at FX in different way. We've looked a lot at that. Having that EM background where we used to think about FX as much as we thought about equities, it was as fundamental to the story...Paul Walsh: And to be clear, that's because of the volatility…Marina Zavolock: Exactly, which we're now seeing now coming into, you know, global markets effectively with the dollar moves that we've had. What we've done is created or attempted to create a framework for assessing FX exposure by stock, the level of FX mismatches, the types of FX mismatches and the various types of hedging policies that you have for those – particularly you have hedging for transactional FX mismatches.Paul Walsh: Mm-hmm.Marina Zavolock: And we've looked at this from stock level, sector level, aggregating the stock level data and country level. And basically, overall, some of the key conclusions are that the list of stocks that benefit from Euro strength that we've identified, which is actually a small pocket of the European index. That group of stocks that actually benefits from euro strength has been strongly outperforming the European index, especially year-to-date.Paul Walsh: Mm-hmm.Marina Zavolock: And just every day it's kind of keeps breaking on a relative basis to new highs. Given the backdrop of James' view there, we expect that to continue. On the other hand, you have even more exposure within the European index of companies that are being hit basically with earnings, downgrades in local currency terms. That into this earning season in particular, we expect that to continue to be a risk for local currency earnings.Paul Walsh: Mm-hmm.Marina Zavolock: The stocks that are most negatively impacted, they tend to have a lot of dollar exposure or EM exposure where you have pockets of currency weakness as well. So overall what we found through our analysis is that more than half of the European index is negatively exposed to this euro and other local currency strength. The sectors that are positively exposed is a minority of the index. So about 30 percent is either materially or positively exposed to the euro and other local currency strength. And sectors within that in particular that stand out positively exposed utilities, real estate banks. And the companies in this bucket, which we spend a lot of time identifying, they are strongly outperforming the index.They're breaking to new highs almost on a daily basis relative to the index. And I think that's going to continue into earning season because that's going to be one of the standouts positively, amid probably a lot of downgrades for companies who have translational exposure to the U.S. or EM.Paul Walsh: And so, let's take that one step further, Marina, because obviously hedging is an important part of the process for companies. And as we've heard from James, of a 15-year bull run for dollar strength. And so most companies would've been hedging, you know, dollar strength to be fair where they've got mismatches. But what are your observations having looked at the hedging side of the equation?Marina Zavolock: Yeah, so let me start with FX mismatches. So, we find that about half of the European index is exposed to some level of FX mismatches.Paul Walsh: Mm-hmm.Marina Zavolock: So, you have intra-European currency mismatches. You have companies sourcing goods in Asia or China and shipping them to Europe. So, it's actually a favorable FX mismatch. And then as far as hedging, the type of hedging that tends to happen for companies is related to transactional mismatches. So, these are cost revenue, balance sheet mismatches; cashflow distribution type mismatches. So, they're more the types of mismatches that could create risk rather than translational mismatches, which are – they're just going to happen.Paul Walsh: Yeah.Marina Zavolock: And one of the most interesting aspects of our report is that we found that companies that have advanced hedging, FX hedging programs, they first of all, they tend to outperform, when you compare them to companies with limited or no hedging, despite having transactional mismatches. And secondly, they tend to have lower share price volatility as well, particularly versus the companies with no hedging, which have the most share price volatility.So, the analysis, generally, in Europe of this most, the most probably diversified region globally, is that FX hedging actually does generate alpha and contributes to relative performance.Paul Walsh: Let's connect the two a little bit here now, James, because obviously as companies start to recalibrate for a world where dollar weakness might proliferate for longer, those hedging strategies are going to have to change.So just any kind of insights you can give us from that perspective. And maybe implications across currency markets as a result of how those behavioral changes might play out, I think would be very interesting for our listeners.James Lord: Yeah, I think one thing that companies can do is change some of the tactics around how they implement the hedges. So, this can revolve around both the timing and also the full extent of the hedge ratios that they have. I mean, some companies who are – in our conversations with them when they're talking about their hedging policy, they may have a range. Maybe they don't hedge a 100 percent of the risk that they're trying to hedge. They might have to do something between 80 and a hundred percent. So, you can, you can adjust your hedge ratios…Paul Walsh: Adjust the balances a bit.James Lord: Yeah. And you can delay the timing of them as well.The other side of it is just deciding like exactly what kind of instrument to use to hedge as well. I mean, you can hedge just using pure spot markets. You can use forward markets and currencies. You can implement different types of options, strategies.And I think this was some of the information that we were trying to glean from the survey was this question that Marina was asking about. Do you have a limited or advanced hedging program? Typically, we would find that corporates that have advanced programs might be using more options-based strategies, for example. And you know, one of the pieces of analysis in the report that my colleague Dave Adams did was really looking at the effectiveness of different strategies depending on the market environment that we're in.So, are we in a sort of risk-averse market environment, high vol environment? Different types of strategies work for different types of market environments. So, I would encourage all corporates that are thinking about implementing some kind of hedging strategy to have a look at that document because it provides a lot of information about the different ways you can implement your hedges. And some are much more cost effective than others.Paul Walsh: Marina, last thought from you?Marina Zavolock: I just want to say overall for Europe there is this kind of story about Europe has no growth, which we've heard for many years, and it's sort of true. It is true in local currency terms. So European earnings growth now on consensus estimates for this year is approaching one percent; it's close to 1 percent. On the back of the moves we've already seen in FX, we're probably going to go negative by the time this earning season is over in local currency terms. But based on our analysis, that is primarily impacted by translation.So, it is just because Europe has a lot of exposure to the U.S., it has some EM exposure. So, I would just really emphasize here that for investors; so, investors, many of which don't hedge FX, when you're comparing Europe growth to the U.S., it's probably better to look in dollar terms or at least in constant currency terms. And in dollar terms, European earnings growth at this point are 7.6 percent in dollar terms. That's giving Europe the benefit for the euro exposure that it has in other local currencies.So, I think these things, as FX starts to be front of mind for investors more and more, these things will become more common focus points. But right now, a lot of investors just compare local currency earnings growth.Paul Walsh: So, this is not a straightforward topic, and we obviously think this is a very important theme moving through the balance of this year. But clearly, you're going to see some immediate impact moving through the next quarter of earnings.Marina and James, thanks as always for helping us make some sense of it all.James Lord: Thanks, Paul.Marina Zavolock: Thank you.Paul Walsh: And to our listeners out there, thank you as always for tuning in.If you enjoy Thoughts on the Market, please leave us a review wherever you listen and share the podcast with a friend or colleague today.

Bitcoin broke its all-time high. Meanwhile, stablecoin legislation is about to pass. And the macro picture is a powder keg. In this episode of Bits + Bips, Steve Ehrlich, Ram Ahluwalia, and Noelle Acheson are joined by Austin Campbell to break down what's really driving markets, and what could break them. From the GENIUS Act reshaping stablecoins to tariffs putting pressure on the Fed, to the Pump.fun ICO and memecoin mania, nothing is off limits. And with crypto ripping, is it time to ride the rally, or take some risk off the table? Thank you to our sponsor! Bitwise Steve Ehrlich, Executive Editor at Unchained Ram Ahluwalia, CFA, CEO and Founder of Lumida Noelle Acheson, Author of the “Crypto Is Macro Now” Newsletter  Guest: Austin Campbell, founder and managing partner of Zero Knowledge Consulting Unchained:  Bitcoin Sets New All-Time High, But Eyes Even Bigger Gains PUMP Traders Make Big Options Bets on the Token Surging Past Its ICO Price Grayscale Files Confidential IPO Paperwork Timestamps:

In this episode, Dinesh considers the scandal of the Bidenpardons and explores whether they can be invalidated. Dinesh says Trump should go beyond getting rid of Jerome Powell and end the Fed. Alex McFarland, radio host and church director, joins Dinesh to talk about how socialism poses a grave threat to America.See omnystudio.com/listener for privacy information.