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The Michael Yardney Podcast | Property Investment, Success & Money
Interest rates are falling again. After years of rate hikes, mortgage stress, and a cooling economy, the RBA has now dropped interest rates for the second time this cycle and there are more rate cuts to come. But what does this actually mean? Is the worst behind us—or is this a sign of deeper cracks in the economy? In today's Big Picture episode, I'm joined again by leading financial commentator Pete Wargent as we unpack the macroeconomic forces shaping our housing markets and the financial outlook for Australians. Of course, the headline is the Reserve Bank's decision to cut rates on May 20. But there's so much more going on behind the scenes—consumer spending is tanking, the construction sector is in crisis, our population is booming while new housing approvals are plummeting, and unemployment is quietly starting to rise. We also explore whether this rate cut will fire up another round of property price growth, how investors are likely to respond, and whether inflation could make an unwelcome return. Plus, we'll take a step back and look at the global context—what's happening with the US Federal Reserve, China's economy, and what all of this means for you as a property investor, business owner, or just someone trying to make sense of the chaos. So whether you're wondering if now is the right time to buy property, refinance, or simply want to stay ahead of the curve, you're in the right place. Takeaways · Market signals indicate a turning point in property investment. · Falling interest rates are expected to boost consumer confidence. · The narrative we tell ourselves can limit our potential. · First home buyers are likely to enter the market soon. · Melbourne's population growth poses significant infrastructure challenges. · Consumer confidence is crucial for property market recovery. · The housing market is facing a significant shortage of supply. · Government policies need to align with housing demand. · Long-term investment strategies are essential for success. · Understanding market trends is key to making informed decisions. Chapters 00:00 Global Economic Trends and Interest Rates 04:40 Impact of Interest Rate Cuts on Consumer Confidence 10:17 Investor Loans and Market Indicators 15:35 Consumer Confidence and Economic Resilience 18:32 Challenges in Housing Supply and Development 23:48 The Future of Rental Markets and Social Housing 31:50 The Turning Point in Property Investment Links and Resources: Metropole's Strategic Property Plan – to help both beginning and experienced investors Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Pete Wargent's blog Pete Wargent's new book, The Buy Right Approach to Property Investing Pete's other book – The New Wealth Way Get a bundle of free reports and eBooks – www.PodcastBonus.com.au Also, please subscribe to my other podcast Demographics Decoded with Simon Kuestenmacher – just look for Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future.
Watch The X22 Report On Video No videos found (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:17532056201798502,size:[0, 0],id:"ld-9437-3289"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs");pt> Click On Picture To See Larger Picture British PM is now betraying the country, he is making huge concessions with the European Union, his days are numbered. China cuts the interest rate, the Fed is still in a holding pattern, see what is happening. D's lost the rich are getting the tax cut narrative. Investors are buying gold funds. The [DS]/fake news is now trying to pivot away from Biden. The problem is they do not have the narrative and the people are now asking a lot of questions of who was really running the country. Kash Patel and Dan Bongino are putting a information to smoke the sleepers out. Scavino in the last couple of days has pushed the military is the only way, why? Think statute of limitations, under civil law most are 5 years, under military most are unlimited. Economy Leftist British PM Keir Starmer BETRAYS Brexit, Causes Alarm by Signing Agreement With European Union Making HUGE Concessions Prime Minister, Keir Starmer, has just betrayed Brexit – and may have dealt a death blow to the island's fishing industry. There's widespread alarm over the terms of the ‘reset' deal with the European Union and the huge concessions that he made. At a press conference alongside European Commission chief Ursula von der Leyen, Keir Starmer says he is ‘moving on' from ‘Brexit battles', and that this deal will put Britain ‘back on the world stage'. Daily Mail reported: https://twitter.com/NicholasLissack/status/1924372295377662009?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1924372295377662009%7Ctwgr%5E7c2d31a35626b522c5601d813473a16e3f834205%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2025%2F05%2Fleftist-british-pm-keir-starmer-betrays-brexit-causes%2F (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:18510697282300316,size:[0, 0],id:"ld-8599-9832"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="https://cdn2.decide.dev/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); https://twitter.com/darrengrimes_/status/1924436308941791427?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1924436308941791427%7Ctwgr%5E7c2d31a35626b522c5601d813473a16e3f834205%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.thegatewaypundit.com%2F2025%2F05%2Fleftist-british-pm-keir-starmer-betrays-brexit-causes%2F Source: thegatewaypundit.com China cuts key lending rates to record lows to counter the impact of US tariffs China's central bank has cut its key lending rates to record lows to bolster the economy and cushion the impact of escalating trade tensions with the United States. The move follows a sweeping stimulus package announced earlier this month. The People's Bank of China (PBOC) has lowered its benchmark lending rates for the first time in seven months as part of ongoing efforts to mitigate the impact of US tariffs on its economy. The central bank cut the 1-year and 5-year loan prime rates (LPR) by 10 basis points to 3.0% and 3.5%, Source: euronews.com US Federal Reserve officials signal rates likely to stay on hold until at least September The central bank's next three meetings are in June, July and September https://twitter.com/MarketsDotNews/status/1924709190376820961 https://twitter.com/TrumpWarRoom/status/1924818332550639622 https://twitter.com/KobeissiLetter/status/1924816670285054349 Trump tax bill will expire on December 31, 2025. and taxes will go up No,
This week we talk about kidnappings, ransoms, and bitcoin.We also discuss crypto wealth, robberies, and memecoins.Recommended Book: The Status Game by Will StorrTranscriptIn 2008, a white paper published by someone writing under the pen name Satoshi Nakamoto proposed a method for making a decentralized asset class called a cryptocurrency that led to the creation of bitcoin, which was implemented and began trading in 2009.While there were other variations on this theme, and attempts to create something like a cryptocurrency previously, bitcoin is generally considered to be the first modern incarnation of this asset class, and its approach—using a peer-to-peer network to keep track of who owns what tokens on a publicly distributed ledger called a blockchain—led to the development of many copycats, and many next-generation cryptoassets based on similar principles, or principles that have been iterated in all sorts of directions, based on the preferences and beliefs of those assets' founders.In its early days, bitcoin didn't make much of a splash and was considered to be kind of an anomaly, mostly interesting to a very small number of people who speculated about alternative currencies and how they might be developed and implemented in the real world, but as of mid-May 2025, the global market cap for all cryptocurrencies is $3.39 trillion, bitcoin accounting for more than $2 trillion of that total.That said, there are tens of thousands of cryptocurrencies available, these days, though the majority of them have been formally discontinued or simply allowed to go fallow, becoming functionally inactive.That's partly the consequence of a surge in interest during the height of the COVID-19 pandemic, the price of bitcoin popping from just over $5,000 at the start of the pandemic to around $68,000 in late-2021.Bitcoin and most of the other crypto-assets that sprung up during that tumultuous period then collapsed when the US Federal Reserve hiked interest rates, intending to temper inflation, which had the knock-on effect of reining in risky bets on things like seed-level startups and alternative assets classes, like crypto—bitcoin dropped to less than $17,000 in 2023, partly as a result of that move—but as inflation levels cooled and investors started to look for assets that might pay out big time again, there was another wave of crypto-asset launches, especially of the ‘meme coin' variety, which basically means a crypto token that's launched either as a joke, or to try to make some money off something that's trending—the most famous meme coin is probably Dogecoin, which was originally released in 2013 as a joke, but then boomed in popularity and price during the pandemic.Through it all, and well before most people knew what bitcoin or cryptocurrencies were, Coinbase has served as a central pillar of the crypto-asset ecosystem.The company was founded in 2012 by a former Airbnb engineer as a crypto exchange: a place where you can swap crypto assets for other crypto assets, but importantly, where you can also sell those assets for real world money, or buy them for real world money.And that's what I want to talk about today, and more specifically a recent hack of Coinbase, and the potential implications of that hack.—In mid-May of 2025, Coinbase reported, in a legally required Securities and Exchange Commission filing, that their company was hacked, and that the hack may end up costing Coinbase between $180 and $400 million, all told.According to that filing, Coinbase received an email from the hacker on May 11, saying that they'd obtained a bunch of information about Coinbase customers and their accounts, alongside other Coinbase documentation related to their account management systems and customer service practices. The hacker demanded $20 million from the company, which the company refused to pay.Coinbase officials have been keen to note that passwords and private keys were not compromised in the hack, so the hackers couldn't just log into someone's account and empty their crypto wallets or the real-deal money they might be keeping there, but they did access names, addresses, phone numbers, and email addresses, alongside the last four digits of some users' social security numbers, their government ID images, like drivers licenses and passports, and their account balances.All of which isn't as bad as passwords and private keys being stolen, but it's not good, either. The hackers, or people working with them, have reportedly been launching phishing attacks against some of the higher net-worth individuals whose information was stolen, those attacks—which usually involve tricking victims into divulging other information, like passwords—made a million times easier because the folks doing the attacks had that stolen information.What's more, and this isn't necessarily obvious from reading the pieces published about this hack, but it's important context surrounding all of this, people who have a lot of money in crypto-assets are increasingly likely to be targeted for other sorts of crimes, compared to people with a lot of wealth in conventional assets, like money, homes, and stocks.Case in point, in early May of this year, a trio of Florida teens kidnapped a man at gunpoint in Las Vegas, drove him to a remote desert area about an hour away, and then stole about $4 million in crypto and other digital assets, like NFTs.They apparently waited for him at his apartment complex and when he pulled up, they threatened him, and said they had his dad, and would kill him if he didn't get in their car, and then they got his account passwords and other information from him, once he was away from any possible help.In Canada, back in early November of 2024, the CEO of a crypto company based in Toronto was kidnapped during rushhour, forced into the kidnappers' vehicle and forced to pay a million dollars in ransom before he was released.According to a security firm that specializes in protecting wealthy people with crypto-assets, that CEO's kidnapping was the 171st instance of criminals using physical violence, including kidnapping, but also other types of robbery, to steal crypto assets; they also said there tend to be more such cases when the price of these assets is high.Well, the price of a bitcoin is high right now, more than $103,000 per coin, as of the day I'm recording this, and France and other Western European nations are seeing a spate of kidnappings of high net-worth crypto-holders, some of which have resulted in mutilation, as was the case with a 60-year-old man who was kidnapped in broad daylight, at 10:30am in Paris—four men in ski-masks pushed him into the back of a delivery van, and his kidnappers demanded his crypto-millionaire son pay a ransom; they cut off the older man's finger during the ordeal.The kidnappers demanded something like 5-7 million euros, which wasn't paid, and they were eventually captured by police. But law enforcement is seeing a lot of this sort of thing all over the world right now, people who made fortunes in crypto being kidnapped, and in some cases their friends and family, or partners, also being kidnapped, or kidnapped instead. Whatever the specifics, the person with the crypto-wealth is then hit up for a ransom.Often, the people being targeted are known to be wealthy because their wealth, their gains in this particular asset market, is publicized.The big concern amongst many people in the crypto-world right now, then, is that although the Coinbase hack didn't result in lost passwords or keys, the information that was stolen, including the balance of users' accounts, could make these users targets, giving anyone with access to this stolen data a list of people they might steal from, and information about where to find them, how to contact them, and how much they can probably hit them up for.On top of that, they can see who has had large balances in the past, how much cash they sold their holdings for, and who maybe previously had large holdings on Coinbase, but then transferred those assets to a private wallet—so even if they don't have large Coinbase balances, they possibly have large balances hidden on a harddrive somewhere.Crypto wealth is generally considered to be easier to steal, and to get away with said theft, because of its very nature; it's largely disconnected from traditional banking systems and many traditional banking regulations, and it's often simpler to launder crypto assets than real money, converting bitcoin into stable coins into other coins before then converting those assets into real money, for instance.So while Coinbase seems to be doing what they can to make their users whole, including paying back users whose information was lost in the breach, that information then used to phish them, successfully—so if you were conned out of money because the hackers got this information and then tricked you—Coinbase will pay you back what you lost.But it's not really possible to undo other, non-immediate damage, like the new level of threat some of these hacking victims maybe face, as the global economy gets weird, job security is iffy for many people in many industries, at best, and there's this list of people who seem to have plenty of money, that money held in more-stealable-than-usual assets, alongside what amounts to a map to where they can be found, and all sorts of information that paints an incomplete, but potentially leveragable, portrait of their lives.Show Noteshttps://www.sec.gov/ix?doc=/Archives/edgar/data/0001679788/000167978825000094/coin-20250514.htmhttps://www.cnbc.com/2025/05/15/coinbase-says-hackers-bribed-staff-to-steal-customer-data-and-are-demanding-20-million-ransom.htmlhttps://techcrunch.com/2025/05/15/coinbase-says-customers-personal-information-stolen-in-data-breach/https://www.nytimes.com/2025/04/24/magazine/crybercrime-crypto-minecraft.html?unlocked_article_code=1.Hk8.UV7K.VEEqHFsUu24g&smid=url-sharehttps://www.yahoo.com/news/florida-teens-kidnap-las-vegas-200918594.htmlhttps://www.cbc.ca/news/canada/toronto/kidnapping-toronto-businessman-cryptocurrency-1.7376679https://www.theguardian.com/world/2025/may/04/french-police-investigate-spate-of-cryptocurrency-millionaire-kidnappingshttps://www.advisor.ca/investments/market-insights/the-reasons-behind-bitcoins-surge/https://www.statista.com/statistics/863917/number-crypto-coins-tokens/https://www.forbes.com/digital-assets/crypto-prices/?sh=c86585d24785https://en.wikipedia.org/wiki/Coinbasehttps://en.wikipedia.org/wiki/Cryptocurrencyhttps://en.wikipedia.org/wiki/Bitcoinhttps://www.sciencedirect.com/science/article/abs/pii/S0378437122005696https://en.wikipedia.org/wiki/Meme_coin This is a public episode. 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JOIN THE MONEY MISSION:https://moneymissionja.comGET THE MONEY MISSION WORKBOOK: https://amzn.to/4567eL2Baked Bio Foods is ready to shake up Jamaica's snack industry. And they already have their sights on regional expansion. Learn more about this company from Founder and Managing Director Levavion Bailon DeMarquezAnd the analysts weigh in on the latest market developments… The Manufacturing industry is very busy right now. Seprod has launched a takeover bid for AS Bryden. And Wisynco's Q3 results are out.Plus the US Federal Reserve is holding interest rates steady. What does this mean for the rest of us?We'll discuss.******************OUR SEGMENTS: 0:00- Intro4:36 - What's Hot in Business13:09- Discussion43:30- Market Recap50:20- The Analysts- AS Bryden and Seprod1:00:45-The Analysts- Wisynco Updates*******************SUBSCRIBE TO OUR NEWSLETTER: https://kalilahreynolds.com/newsletter JOIN THE MONEY MISSION:https://moneymissionja.com******************
Listen now to the podcast from the Asset Management and Investors Council (AMIC), ICMA's dedicated forum advocating the interests of buy-side members, including asset managers, institutional investors, private banks, pension funds, and insurance companies, among others. Returning for this episode are industry experts, Bob Parker, former Chairman of AMIC and Senior Adviser to ICMA, alongside Massimiliano Castelli, PhD MSc, Managing Director and Head of Strategy & Advice at UBS Asset Management, who also serves as the Co-Chair of the AMIC Executive Committee. In this podcast, recorded on 7th May 2025, the team discussed: The evolving US tariff policy and how these policies may affect the economies of the US and its major trading partners. How might other Governments react? Whether the independence of the US Federal Reserve is under threat Implications for foreign demand for US Treasuries and whether the turmoil could persuade investors to increasingly shift allocations outside the US If you have questions or topics that you would like our guests to address in future episodes, please feel free to get in contact via email: AMIC@icmagroup.org. Learn more about AMIC: https://www.icmagroup.org/market-practice-and-regulatory-policy/asset-management/
Money Man Scott Phillips talks We've seen the first thawing in Donald Trump's trade war, with a deal between the US and the UK, But the US Federal Reserve remains worried, and Bank shareholders have been pretty underwhelmed by profits this week. https://play.listnr.com/podcast/the-good-oil-with-scott-phillips See omnystudio.com/listener for privacy information.
Citing rising risks of higher unemployment and higher inflation and the wave of uncertainty unleashed by US President Donald Trump’s trade policy, the US Federal Reserve announced that they will be keeping interest rates unchanged at 4.25% to 4.5%. How should investors be reading this move and what does it suggest about the trajectory of the policy rate path for the rest of this year? Closer to home, DBS just released its latest set of earnings reports, revealing a fall in net profit for its first quarter. What were the main growth drivers and weaknesses from Q1? Find out with Dan Koh as he speaks to Isaac Lim, Chief Market Strategist at Moomoo Singapore as they break down these stories and more.See omnystudio.com/listener for privacy information.
As expected, the US Federal Reserve has kept its benchmark interest rate unchanged despite pressure from President Donald Trump. Fed chair Jerome Powell warned the risks of higher inflation and higher unemployment has risen. Plus, Disney announced a plan to build its first theme park in the Middle East, on Abu Dhabi's Yas Island. But first, we take a look at how a 14-year civil war devastated Syria's economy, as interim president Ahmed al-Sharaa visited Paris.
During Episode 27 of Biotalk, Geoff Meyerson, CEO of Locust Walk, steps back to examine the macro forces shaping the biopharma landscape. After holding a bearish outlook since 2021, Geoff explains why he's finally shifting his stance and what could signal a true turnaround for biotech. He unpacks the “big three” market headwinds—regulatory hurdles from the IRA, FTC deal scrutiny, and high interest rates—and outlines how recent shifts, including rate cuts, new FTC leadership, and potential IRA reform, could spark renewed momentum, especially in M&A and rare diseases. Geoff also highlights previously underappreciated risks like HHS cuts and aggressive tariffs, which could stall progress if unresolved. With a balanced, apolitical lens, this episode offers candid insights into why policy matters for biotech investors, operators, and dealmakers—and what to watch for as 2025 unfolds. Tune in to understand the key inflection points and why Geoff sees the second half of 2025 as a potential breakout period for the industry. Full Transcript: Welcome to Biotalk. My name is Geoff Meyerson, CEO and Co-founder of Locust Walk, and you are listening to Biotalk, our podcast for biotech deal makers. In this episode, I want to zoom out and talk about the bigger picture — what's really driving the biotech market right now. In almost every meeting the past few months I have been asked my views on the market. I decided that I am going to share my thoughts publicly. I fancy myself to be a free market limited government champion across all aspects of life. I do not comment politically nor believe it is my job to criticize or promote any politician or party. That said, the macro policies enacted by both parties directly impact the biopharma industry, and I believe it's important to analyze and comment on areas related to the life science industry. For all other issues, I subscribe to the University of Chicago's institutional neutrality, and it is my (and Locust Walk's) policy to not comment publicly. First a recap of why I was bearish starting fall 2021 when Locust Walk ran a webinar titled “Has Biotech Peaked”. Throughout 2022, 2023, and until September 2024, despite many market analysts predicting a turnaround, I maintained my bearishness because the 3 underlying headwinds that started blowing hadn't stopped or reversed, namely: Regulatory headwinds because of the IRA Transaction headwinds from an openly hostile FTC Monetary headwinds via high interest rates caused by high inflation Until these 3 drivers reversed, I didn't believe the market would improve beyond incremental changes. When in September 2024 the US Federal Reserve dropped rates by 50 bps, the rate tightening cycle had not only stopped but reversed. My changing perspective was independent of the pending election since the largest factor interest rates was starting to shift. In January 2025, Lina Khan exited the FTC and a new era of antitrust enforcement began. While far from perfect, it has been markedly more pro-business with a much less aggressive effort to block transactions. Locust Walk's Quarterly Market conditions detailed a 47% uptick in M&A by value and 35% by volume showing signs of life in this market even though I didn't anticipate any material improvement until 2H25 because it takes time for deals to come to fruition after the changeover in policy. I predicted M&A had the potential to transform the industry this year after years of suppression. I stand by this prediction and for everyone's sake I hope I'm right. The IRA pill fix is being discussed and because President Trump has come out in support, some form of it is likely to make its way into the reconciliation package of tax and regulatory cuts. I hope small molecules move to 13 years of exclusivity but bigger price discounts thereafter to remain budget neutral rather than meeting in the middle at 11 years, which I think would be quite problematic.
Talks between the US and China could mean the end of the trade war, as healthcare stocks take a hit in the markets. MARKET WRAP: ASX200: Up 0.3% or 27 points to 8178 GOLD: $3,384 US BITCOIN: $149, 805 9 of the 11 sectors finished stronger, with the largest gains in the energy sector. It’s all on the back of oil prices, which have seen a rise.. brent crude now buying $63 US a barrel, off the back of hopes that an easing of tariffs could boost demand from China. Woodside and Santos are up 1.5% and 2.3% respectively. NAB has seen a jump of 2% after releasing a better than expected earnings report. And attention has turned to the US Federal Reserve’s 2 day policy meeting, which kicked off today - they’re expected to keep rates on hold tomorrow. CURRENCY UPDATE: AUD/USD: 64.86 US cents AUD/GBP: 49 British pence AUD/EUR: 57 Euro cents AUD/JPY: 93 yen AUD/NZD: 1.08 New Zealand dollars See omnystudio.com/listener for privacy information.
Wall Street closed lower, with the S&P 500 snapping a historic nine-day winning streak. In company news, GoDaddy posted better-than-expected earnings, while Netflix ended an eleven-session winning streak amid market reaction to Trump’s proposed tariffs on foreign films. Meanwhile, US bond yields edged higher following stronger-than-expected data from the services sector. In commodities, oil fell to a four-year low due to rising OPEC supply, while gold prices climbed ahead of the upcoming US Federal Reserve meeting. Closer to home, Aussie shares are set to fall on Tuesday after ending a seven-day winning streak. The content in this podcast is prepared, approved and distributed in Australia by Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814. The information does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information before acting and if necessary, seek appropriate professional advice.See omnystudio.com/listener for privacy information.
More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump's protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026. To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022). “If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual', people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit'. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?” Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer". Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump's protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026. To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022). “If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual', people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit'. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?” Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer". Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science
More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump's protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026. To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022). “If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual', people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit'. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?” Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer". Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/biography
More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump's protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026. To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022). “If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual', people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit'. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?” Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer". Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
More than any one institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. This eighth and final episode covers the life and times of the current chair, Jerome ("Jay") Powell - the technocratic lawyer-turned-banker who managed the global economy through two unprecedented disasters: the Covid pandemic and Donald Trump's protectionist trade policies. As the episodes about Martin, Burns, and Volcker all attest, Powell isn't the first chairman to face political blowback. But he is the first to be publicly denounced as “Mr Too Late” and a “major loser” by a president intent on removing him from office before his term ends in mid-2026. To discuss Powell, Tim is joined by Nick Timiraos, author of Trillion Dollar Triage: How Jay Powell and the Fed Battled a President and a Pandemic and Prevented Economic Disaster (Little, Brown, 2022). “If people think you're not going to act in the country's best interest, that's bad for the Fed,” he says. “The next time the Fed decides it needs to do something that actually is ‘exigent and unusual', people will say: ‘Well, wait a minute, the last time you did this, we thought you were a toady for the Democrats or a toady for the Republicans. We don't think you're a straight shooter. We're not going to let you raise interest rates by 25 basis points. We're not going to give you money to backstop your purchases of corporate credit'. Those are the kind of medium and long term risks from a fight with the White House. I think, for Powell, the worst outcome is that people don't think you have an independent central bank anymore. Your monetary policy won't be credible. Why not just roll that thing into the Treasury Department if that's what you're going to do?” Since 2017, Nick Timiraos has been the chief economics correspondent at The Wall Street Journal and has developed an unrivalled reputation as the "Fed whisperer". Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke's successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He's still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke's successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He's still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke's successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He's still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/biography
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke's successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He's still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The third episode of the second series covers Janet Yellen – not only the first woman to become Fed Chair but the first person of either sex to lead the Fed, the Treasury, and the Council of Economic Advisors. To discuss Ben Bernanke's successor, Tim is joined by Jon Hilsenrath, author of Yellen: The Trailblazing Economist Who Navigated an Era of Upheaval (Harper Collins, 2022). “Bernanke was a consensus builder,” says Hilsenrath. “He wasn't the kind of guy who was going to push people on a personal level out of their comfort zones … Yellen was a bit of a bulldog there, but she was also a bulldog with the Fed staff. I mean, she had a view that the world was on fire and that they, you know, and that they had to be moving like people putting out a fire”. In 2023, Hilsenrath left the Wall Street Journal after a 26-year career during which he developed a market reputation as a pre-eminent Fed-watcher. He's still watching the Fed but now for his own advisory firm. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/biography
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. Episode two of the second series covers the life and crisis-era times of Ben Bernanke, the man who filled Alan Greenspan's big shoes and ran the Fed from 2006 to 2014. A shy but world-renowned monetary economist and historian of the Great Depression, Bernanke was left holding the proverbial bomb when the financial system came close to collapse in 2008. To discuss Bernanke, Tim is joined by David Wessel, author of In FED We Trust: Ben Bernanke's War on the Great Panic (Crown, 2010). “It wasn't obvious when he was appointed to the Fed in 2006 that having somebody who had spent their life studying the Great Depression would be well equipped to be Alan Greenspan's successor,” says Wessel. “I have sometimes said it was a like being a paleontologist. It's very nice that you know a lot about dinosaurs, but what use is that to us today until one day a Stegosaurus appears on the horizon. And it was remarkable good fortune for the country and the world that there was a guy who happened to have studied all the mistakes that the Fed made in the 1920s and the 1930s in a position to do something about it when a situation, not all that dissimilar, appears both to his surprise and to almost everybody else's”. Wessel is two-time Pulitzer Prize winning journalist who now runs the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. For 30 years, he worked at the Wall Street Journal - reporting mostly from Washington and covering economics and the Fed. Learn more about your ad choices. Visit megaphone.fm/adchoices
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/biography
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/economics
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices
More than any other single institution, the US Federal Reserve drives global capital markets with its decisions and communications. While its interest rates are set by a committee, for almost a century, the Fed's philosophy and operational approach have been moulded by one person: the Chair of the Board of Governors. In the first series of The Chair, Tim Gwynn Jones talked to authors of books about the Fed's foundational Chairs – Marriner Eccles, Bill Martin, Arthur Burns, and Paul Volcker. In this second series, he covers the people who chaired the Fed through the post-1990 period of financialisation, globalisation, and – perhaps today – deglobalisation. The first episode of the second series explores Alan Greenspan, the chairman who followed Paul Volcker and ran the Fed from 1987 until 2006. Once bestowed with “Maestro” status, Greenspan – who turns 100 in March 2026 – has seen his reputation deflate in the wake of the post-2008 financial crisis. To discuss the fallen Maestro, Tim is joined by Sebastian Mallaby, author of The Man Who Knew: The Life and Times of Alan Greenspan (Bloomsbury, 2016). “Greenspan was the man who knew,” says Mallaby. “He was the man who knew that bubbles were extremely destructive, and yet he was not the man who acted against those bubbles. So, whilst he was great on inflation and on stabilising the price of eggs, he was not good on asset-price inflation or stabilising the price of nest eggs”. A former journalist at The Economist and the Washington Post, Mallaby is the prize-winning author of The World's Banker – a portrait of the World Bank under James Wolfensohn – and More Money Than God: Hedge Funds and the Making of a New Elite. He is now the Paul A. Volcker senior fellow for international economics at the Council on Foreign Relations. Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance
Guy Morris has released three pulse-pounding thrillers inspired by true stories, actual technologies, global politics and history.#guymorris #ai #masonicgroup================All Episodes can be found at https://www.podpage.com/speaking-podcast/ All about Roy / Brain Gym & Virtual Assistants at https://roycoughlan.com/ ------------------ About my Guest Guy Morris :After a traumatized childhood, Guy pushed on to earn multiple undergraduate degrees in economics, finance with a minor in computer science, before earning an MBA. Guy was awarded a full grad school scholarship and acceptance into the Harvard MBA program by building a macro-economic model that out-performed the US Federal Reserve. Starting with IBM, Guy went on to a 36-year leadership career with Fortune 100 software, high-tech and global energy such as Burroughs, Oxy Petroleum, Oracle, and Microsoft. Known as a thought-leader and innovator of leading edge technologies that span over three decades, including early stage AI, Guy now speaks to the dangers of AI. During his career, Guy was also a published song writer for Disney Records, recorded multiple CDs, produced an award-winning webisode series that brought the FBI to his door, earned a Coast Guard charter captain license, and an adventurer /diver who fed sharks. In 2019, Guy retired to pursue his third-act career as a self-published author of award-winning thrillers, most often compared to Dan Brown. From cartel death threats in Latin America to the shark diving in Moorea; from the Board Room to a recording studio; from child homelessness to corporate jets, Guy pulls from a rich life of diverse experience to write books that thrill, educate, and inspire thoughtful dialogue on genuine issues facing humanity.Since his 2021 debut, Guy has released three pulse-pounding thrillers inspired by true stories, actual technologies, global politics and history. His Kirkus recommended books won both a Reader's Favorite Gold and Silver Award, listed on BookTrib's Favorite 25 Books of 2021, finalist for IAN Book of the Year, and semi-finalist for Screencraft's Cinematic Book. His articles have been published in SD Voyager, and Mystery & Suspense magazines.What we Discussed: 00:40 Who is Guy Morris01:20 How he became Homeless at a young age05:15 The Hardship created his success mentality08:10 Never Judge any persons job Position10:30 The Patents he created13:30 The FBI Knocking on his door 20:20 His book was ahead of his time22:15 DARPA mentioned in the book26:10 The Bilderberg Group29:00 The Illuminati and Freemasons33:00 Who is the Bad Guy Behind the Bad Guy33:35 My expereince at a Masons Event and friends in it36:00 They believe in Karma so tell us what they will do38:00 The World Economic Forum and the Great Reset39:45 How he wrote about things before they happened44:30 DNA & Cloning47:15 It was not called Artifical Intelligence before50:10 Different Ai Types53:10 What is Good with Ai56:45 Ai does not need to be politically correct1:01:15 Ai can be Biased1:04:10 Technology that was available 100+ years ago1:08:00 His 3 Books and Awards1:10:05 Could the Book become a MovieHow to Contact Guy Morrishttps://www.guymorrisbooks.com/https://x.com/guymorrisbookshttps://www.linkedin.com/in/guybmorris/https://www.instagram.com/authorguymorris/https://www.facebook.com/OfficialGuyMorrisBookshttps://www.youtube.com/channel/UCGi3JinUp6w24dJmDVq3ZKg------------------All about Roy / Brain Gym & Virtual Assistants at https://roycoughlan.com/ ___________________
Guy Morris has released three pulse-pounding thrillers inspired by true stories, actual technologies, global politics and history.#guymorris #ai #masonicgroup================All Episodes can be found at https://www.podpage.com/speaking-podcast/ All about Roy / Brain Gym & Virtual Assistants at https://roycoughlan.com/ ------------------ About my Guest Guy Morris : After a traumatized childhood, Guy pushed on to earn multiple undergraduate degrees in economics, finance with a minor in computer science, before earning an MBA. Guy was awarded a full grad school scholarship and acceptance into the Harvard MBA program by building a macro-economic model that out-performed the US Federal Reserve. Starting with IBM, Guy went on to a 36-year leadership career with Fortune 100 software, high-tech and global energy such as Burroughs, Oxy Petroleum, Oracle, and Microsoft. Known as a thought-leader and innovator of leading edge technologies that span over three decades, including early stage AI, Guy now speaks to the dangers of AI. During his career, Guy was also a published song writer for Disney Records, recorded multiple CDs, produced an award-winning webisode series that brought the FBI to his door, earned a Coast Guard charter captain license, and an adventurer /diver who fed sharks. In 2019, Guy retired to pursue his third-act career as a self-published author of award-winning thrillers, most often compared to Dan Brown. From cartel death threats in Latin America to the shark diving in Moorea; from the Board Room to a recording studio; from child homelessness to corporate jets, Guy pulls from a rich life of diverse experience to write books that thrill, educate, and inspire thoughtful dialogue on genuine issues facing humanity.Since his 2021 debut, Guy has released three pulse-pounding thrillers inspired by true stories, actual technologies, global politics and history. His Kirkus recommended books won both a Reader's Favorite Gold and Silver Award, listed on BookTrib's Favorite 25 Books of 2021, finalist for IAN Book of the Year, and semi-finalist for Screencraft's Cinematic Book. His articles have been published in SD Voyager, and Mystery & Suspense magazines.What we Discussed: 00:40 Who is Guy Morris01:20 How he became Homeless at a young age05:15 The Hardship created his success mentality08:10 Never Judge any persons job Position10:30 The Patents he created13:30 The FBI Knocking on his door 20:20 His book was ahead of his time22:15 DARPA mentioned in the book26:10 The Bilderberg Group29:00 The Illuminati and Freemasons33:00 Who is the Bad Guy Behind the Bad Guy33:35 My expereince at a Masons Event and friends in it36:00 They believe in Karma so tell us what they will do38:00 The World Economic Forum and the Great Reset39:45 How he wrote about things before they happened44:30 DNA & Cloning47:15 It was not called Artifical Intelligence before50:10 Different Ai Types53:10 What is Good with Ai56:45 Ai does not need to be politically correct1:01:15 Ai can be Biased1:04:10 Technology that was available 100+ years ago1:08:00 His 3 Books and Awards1:10:05 Could the Book become a MovieHow to Contact Guy Morrishttps://www.guymorrisbooks.com/ https://x.com/guymorrisbookshttps://www.linkedin.com/in/guybmorris/https://www.instagram.com/authorguymorris/https://www.facebook.com/OfficialGuyMorrisBookshttps://www.youtube.com/channel/UCGi3JinUp6w24dJmDVq3ZKg------------------All about Roy / Brain Gym & Virtual Assistants at https://roycoughlan.com/ ___________________
Equity markets continued their multi-day rally yesterday on US Federal Reserve comments indicating an openness to rate cuts and signs that trade negotiations were progressing. China may exempt some US goods from tariffs and Apple plans to shift the assembly of all US-sold iPhones to India as soon as next year. In this episode, we are joined by Tim Gagie, Head of FX and Precious Metals Solutions in Geneva, who shares his expertise on the latest developments in foreign exchange and metals markets.00:00 Introduction: Helen Freer, Investment Writing00:24 Markets wrap-up: Jan Bopp, Investment Writing05:48 FX and metals: Tim Gagie, Head of FX & PM Solutions Geneva09:59 Closing remarks: Helen Freer, Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
Andrew Coyne is a Globe and Mail Columnist and one of Canada’s most trusted commentators. He joins host Rudyard Griffiths to discuss how the Conservative Party's anti-Trudeau messaging undermined their ability to provide Canadians with an appealing platform in an election that doesn't include the former PM. Mark Carney, meanwhile, is acting like a grownup in charge when a crisis hits, even though his big spending promises suggest he's not the blue liberal many centre-right Canadians had hoped. Rudyard and Andrew also talk about Trump's threats to fire US Federal Reserve chair Jerome Powell, and why the independent authority of central banks is so integral to the functioning of democracies.
Wall Street closed in firmly negative territory on Monday, continuing a rout that's reaching historic dimensions. After Trump's disruptive tariff policies, it's now his attacks on the US Federal Reserve that are unsettling investors. The US president has been lambasting the head of the central bank, Jerome Powell, on social media. He called Powell "a major loser" and urged "pre-emptive cuts in interest rates". We take a look at the Federal Reserve's mandate and why it's supposed to be independent of political pressure.
The American President Donald Trump has criticised Jerome Powell after the Chair of the US Federal Reserve stated that tariffs are likely to push up inflation and unemployment, while President Trump says he's "one-hundred per cent sure" of a US-EU trade deal.We hear from the CEO of the Port of Long Beach - the busiest port in the US - on how they're already feeling the effects of US-China tariffs. Elsewhere the head of the International Monetary Fund, Kristalina Georgieva, has warned that economic growth will suffer due to global trade uncertainty being "off the charts".And Rahul Tandon speaks to a former Netflix director after the streaming service reported quarterly profits of $2.9bn.Global business news, with live guests and contributions from Asia and the USA.
US President Trump's Liberation Day tariff announcements sent shockwaves through financial markets and 2 April 2025 will certainly be remembered as a hugely significant day. But what are the implications for investors in the wake of all the tariff-related uncertainty? In this episode, Christian Gattiker, Head of Research at Julius Baer, talks to Helen Freer about navigating the world of investing post-Liberation day. They discuss the risk of a recession, the role of US and non-US assets in portfolios, the outlook for safe-haven assets including the US dollar, and much more.00:31 Introduction01:07 Has the risk of a US and global recession increased?03:24 What is the expected timeline now?05:20 Is it possible to say what Trump's plan is?06:41 The US Federal Reserve's dilemma08:14 Impact on capital flows to the US09:49 Adjusting exposure to US and non-US assets10:58 Where do US technology stocks go from here?12:36 The outlook for the US dollar now15:21 The reaction of the Swiss franc and the Japanese yen16:23 Historic moves in bond markets18:46 What to focus on now in the fixed income space20:19 Thoughts on gold in the current environment22:16 What does the situation mean for Swiss equities?23:38 The role of Chinese equities in a portfolio26:44 The significance of talks between the EU and China27:49 Exposure to India to increase portfolio diversification29:02 The relevance of the Q1 earnings season30:29 Oil prices under pressure31:48 Our expectations for the rest of the year33:31 OutroWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
Trump's been right before. There are occasions when he's come out with something seemingly crazy —totally bananas— earning him all the ire and ridicule of the expert class and the media, only to maybe be proven right over time. The one that springs to mind is the travel ban with China, shortly after Covid-19 took off. One minute he was being rinsed for it, the next, everyone had a travel ban with China. That being said, it is so hard to see how his extraordinary move this week is going to work out as he says it will. Overnight, China has reacted to the tariff plan and share markets around the world have continued to shed trillions of dollars in value. Today is not the day for checking your KiwiSaver balance! But even as the US Federal Reserve says America should expect slower economic growth and higher inflation, the White House insists his plan is working. One of the curious things about this term is how little he's seemed to care about the stock market. In his first term as President, anything that hurt share prices elicited an immediate backdown, and Trump constantly bragged about how he had the strongest economy ever. It's going to be extremely difficult to make that argument when almost everything costs more. Still, if we've learnt anything from the past it shouldn't be that sometimes Trump is right to buck conventional wisdom, it's that in the absurd polarised world we live in, personality and teams are more important than facts. This applies to many of his opponents as well – people on the absolute opposite end of the political spectrum. But Trump's keenest cheerleaders are so slavishly loyal, many refuse to even acknowledge the most obvious objective failings. So his team accidentally messaged war plans to a journalist? Well, we'll just insist they weren't classified. So he's slapped tariffs on uninhabited sub-Antarctic islands? Of course he has! Those penguins have been getting away with murder! He's kicked off a global trade war that'll leave a majority of us worse off? Fantastic. All part of the genius. It's a fool's game to try and predict Donald Trump's next move but for the little it's worth, my best guess is that none of these tariffs are set in stone. Countries are going to try and placate him. Companies in the US are going to try and negotiate their own little carve-outs. Trump's gonna absolutely love picking favourites, but his approach will lurch all over the place, defined only by spur-of-the-moment whims and incoherence. Regardless of what happens, he will claim success. His supporters will agree, but the global order looks that much more unstable. See omnystudio.com/listener for privacy information.
AIB's Chief Economist David McNamara and AIB Treasury's Jason Rehill discuss the latest AIB Ireland PMI reports including the positive picture for manufacturing despite looming threats, very strong growth in services, the market reactions following the US tariff announcements and how tariffs might impact Irish industries.Visit our website and subscribe to receive AIB's Economic Analysis direct to your inbox. You can also find us on Twitter @TreasuryAIB . Our full legal disclaimer can be viewed here https://aib.ie/fxcentre/podcast-disclaimer. Registered in Ireland: No: 24173 Allied Irish Bank p.l.c is regulated by the Central Bank of Ireland AIB Customer Treasury Services is a registered business name of Allied Irish Banks, p.l.c. Registered Office: 10 Molesworth Street, Dublin 2
①A Boao Forum report projects Asian economic growth at 4.5 percent in 2025. What's driving this steady growth amid global uncertainties? (00:44)②China unveils regulation on implementing anti-foreign sanctions law. (14:19)③Opposition grows as USTR holds hearing on levies on Chinese ships. (25:00)④The US Federal Reserve has cut its growth forecast for the US economy. (34:31)⑤Greenland's leaders have called US officials' visit "highly aggressive". What are the Trump administration's real motives behind such a controversial move? (44:07)
In this episode, Anthony and Piers break down the latest decisions from the US Federal Reserve and the Bank of England, including why both central banks chose to hold interest rates and what it means for markets.They unpack the implications of quantitative tightening (QT), explore shifts in the Fed's balance sheet, and shed light on the importance of the dot plot and what it signals about future rate cuts. The conversation also covers the debate around transitory inflation, market reactions, and the growing uncertainty clouding the UK economy.Perfect for anyone interested in central banks, monetary policy, macroeconomics, or making sense of today's financial headlines.(00:00) Central Bank Decisions Overview(01:37) Fed's Economic Forecasts and Market Reactions(04:35) Understanding Quantitative Tightening(07:57) The Fed's Balance Sheet and Its Implications(15:48) The Debt Ceiling Issue(20:28) How the Market Reacted(22:38) The Dot Plot Matrix Explained(26:19) Transitory Inflation and Its Implications(30:55) 2nd April is An Important Day(32:39) Peak Global Uncertainty (35:02) The Bank of England's Position and Vote Split Hosted on Acast. See acast.com/privacy for more information.
America's central bank keeps interest rates steady but warns that inflation projections are rising and growth is likely to slow as President Donald Trump's trade wars hit the US economy. Also in this edition: Ben & Jerry's sues parent company Unilever over the ouster of its CEO.
Istanbul's mayor is detained over investigations into alleged corruption and terrorism support, Canada inks a $4.2B Arctic radar deal with Australia, Ukraine reports Russian strikes after Putin agreed to a partial truce in consultation with the Trump admin., Germany breaks its debt rules to finance its defense spending boost, the UK's Kemi Badenoch drops her net zero emissions support, Jair Bolsonaro's son takes leave from Brazil's Congress and seeks US political asylum, a US federal judge blocks the Trump admin.'s USAID shutdown, while a US federal judge moves Mahmoud Khalil's deportation case to New Jersey, the US Federal Reserve holds interest rates steady, and a Europol report claims that AI is becoming a powerful catalyst for organized crime. Sources: www.verity.news
Watch The X22 Report On Video No videos found Click On Picture To See Larger Picture Chuck Schumer says the quiet part out loud. They believe that your hard earned money should be handed over to them. The Fed is now beginning the blame game, Trump is countering all of it. Elon message about the magic money computers is a very important message. The [DS] is panicking, because slowly but surely people are seeing that they are the ones who have been destroying this country. The JFK files were released and the CIA was a "state within a state" they are a rogue agency. Soon the people will release that the FBI, CIA others within our government and foreign governments were pushing the US down the path of destruction. What did the framers fear the most? (function(w,d,s,i){w.ldAdInit=w.ldAdInit||[];w.ldAdInit.push({slot:13499335648425062,size:[0, 0],id:"ld-7164-1323"});if(!d.getElementById(i)){var j=d.createElement(s),p=d.getElementsByTagName(s)[0];j.async=true;j.src="//cdn2.customads.co/_js/ajs.js";j.id=i;p.parentNode.insertBefore(j,p);}})(window,document,"script","ld-ajs"); Economy https://twitter.com/RepNancyMace/status/1902094406380929332 Federal Reserve cuts US economic growth outlook amid Trump tariffs Officials raise forecast for price growth, estimating that inflation will increase at average rate of 2.7% this year Officials at the US Federal Reserve cut their US economic growth forecasts and raised their projections for price growth as they kept interest rates on hold while Donald Trump bids to overhaul the global economy with sweeping tariffs. Policymakers at the central bank expect inflation to increase by an average rate of 2.7% this year, according to projections released on Wednesday, up from a previous estimate of 2.5%. They expect US gross domestic product (GDP) – a broad measure of economic health – to rise by 1.7% this year, down from an estimate of 2.1% in December. Source: dailymail.co.uk Political/Rights Scoop: Schumer faces growing House Dem calls to step down Senate Minority Leader Chuck Schumer (D-N.Y.) is facing more calls to step aside than have previously been reported, with the possibility of more soon to come, Axios has learned. Rep. Delia Ramirez (D-Ill.), asked at a town hall on Tuesday whether Schumer should "retire or step down," nodded her head and said "yes." Ramirez's comments have not previously been reported. The liberal group Indivisible has also called on Schumer to resign as leader. Rep. Glenn Ivey (D-Md.) also followed suit at a town hall on Tuesday. Source: axios.com https://twitter.com/CollinRugg/status/1902151255474188526 the evening he showed up at the home of friends in New Jersey. He was very agitated.” “A small clique within the CIA was responsible for the assassination, he confided, and he was afraid for his life and probably would have to leave the country.” “Less than six months later Underhill was found shot to death in his Washington apartment. The coroner ruled it suicide.” https://twitter.com/CollinRugg/status/1902152531880640633 https://twitter.com/MJTruthUltra/status/1902402025083523261 according to his Commander at the time. • The cable's very existence—marked “SECRET” and addressing a specific media inquiry about Oswald's CIA ties in Japan—reveals an agency on high alert, carefully managing a narrative that threatens to expose a long-buried secret: Oswald's recruitment by the CIA during his time at the Atsugi Naval Air Facility in the late 1950s . • Consider the context… Oswald was stationed at Atsugi, a known CIA hub for covert operations, including U-2 spy plane missions, from 1957 to 1958. • The cable confirms that as late as 1996, a credible UPI reporter was pursuing a story that Oswald was recruited by the CIA during this period, per Oswald's commanding officer.
Jane D'Arista walks us through a comprehensive analysis of a global economy flooded with US dollar liabilities, economies bound to damaging export-led growth models, and vulnerable households piling up useless debts. She offers a rigorous template of policy and regulatory solutions encompassing reform of the US Federal Reserve and the International Payments System and calls to continue fighting to get ideas out. Produced by GPEnewsdocs.
Big Tech earnings season is in full swing, the US Federal Reserve held interest rates steady despite pressure from President Donald Trump, and Syria's new government pressed Moscow about reparations. Plus, activist short-selling is on the decline. Mentioned in this podcast:Meta's bumper results tempered by revenue outlook Federal Reserve keeps US interest rates on hold Syria asks Russia for reparationsLast men standing: the short sellers who remain after Hindenburg's exitThe FT News Briefing is produced by Niamh Rowe, Fiona Symon, Sonja Hutson, Kasia Broussalian, Lulu Smyth, and Marc Filippino. Additional help from Breen Turner, Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Joseph Salcedo. Topher Forhecz is the FT's executive producer. The FT's global head of audio is Cheryl Brumley. 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.
Our Chief Asia Economist Chetan Ahya discusses how tariffs, the power of the U.S. dollar, and the strength of domestic demand will determine Asia's economic growth in 2025.----- Transcript -----Welcome to Thoughts on the Market. I'm Chetan Ahya, Morgan Stanley's Chief Asia Economist. Today on the podcast: three critical themes that will shape Asia's economy in 2025. It's Tuesday, January 21, at 2 PM in Hong Kong. Let's start with the big picture: We foresee Asia's growth decelerating from 4.5 per cent last year to 4.1 per cent in 2025. The whole region faces a number of challenges and opportunities that could sway these numbers significantly. We highlight [the] following three key factors. First up, tariffs. They are our single biggest concern this year. The pace, scale and affected geographies will determine the magnitude of the growth drag. In our base case, within Asia, we expect tariffs to be imposed on China in a phased manner from the first half of 2025. As Mike Zezas, our Head of US Public Policy states, this will be about fast announcements and slow implementation. Given tariffs and trade tensions are not new, we think this means corporate confidence may not be as badly affected as it was in 2018-19. But the key risk is if trade tensions escalate. For instance, into more aggressive bilateral disputes outside of US-China or if [the] US imposes universal tariffs on all imports. Asia will be most affected, considering that seven out of [the] top ten economies that run large trade surpluses with the US are in Asia. If either of these risk scenarios materialize, it could bring a repeat of [the] 2018-19 growth shock. Next, let's consider the Fed and the US dollar. Asian central banks find themselves in a bind with the US Federal Reserve's hawkish shift – which we think will result in only two rate cuts in 2025. The Fed is taking a cautious approach, driven by worries over inflation concerns, which could be exacerbated by changes in trade and fiscal policy. This has led to strength in the US dollar and on the flipside, weakness in Asian currencies. This constrains Asian central banks from making aggressive rate reductions -- even though Asia's inflation is in a range that central banks are comfortable with. Finally, with [the] external environment not likely to be supportive, domestic demand within key Asian economies will be an important anchor to [the[ region's growth outlook. We are constructive on the outlook for India and Japan but cautious on China. China has a deflation challenge, driven by excessive investment and excess capacity. Solving it requires policy makers to rely more on consumption as a means to meet its 5 per cent growth target. While some measures have been implemented and we think more are coming, we remain skeptical that these measures will be enough for China to lift consumption growth meaningfully. We see investment remaining the key growth driver and the implementation of tariffs will only exacerbate the ongoing deflationary pressures. In India and Japan, we think domestic demand tailwinds will be able to offset external headwinds. We expect a robust recovery in India fueled by government capital expenditure, monetary easing and acceleration in services exports. This should put GDP growth back on a 6.5 per cent trajectory. In Japan we expect real wage and consumption growth reacceleration, which will lead [the] Bank of Japan to be confident in the inflation outlook such that it hikes policy rates twice in 2025. This week marks the start of the new Trump administration. And together with my colleagues, we are watching closely and will continue to bring you updates on the impact of new policies on Asia.Thanks for listening. If you enjoy the show, please leave us a review wherever you listen and share Thoughts on the Market with a friend or colleague today.