All-Stars #38 Danielle DiMartino-Booth: FOMC Preview

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 29 July 2019

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-Star Danielle DiMartino Booth gives a briefing on what to expect from Wednesday’s FOMC Press Release, 25 or 50 bps? How will the ECB React? And much more! Link: http://bit.ly/2LMsaPc

Transcript

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0:00.0	This is a special edition of Macrovoises with hedge fund manager Eric Townsend.
0:14.2	The premier financial podcast targeting professional finance, high net worth individuals, family
0:19.8	offices, and other sophisticated investors.
0:23.0	Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.
0:30.4	Macrovoises All Stars episode 38 was recorded on July 26, 2019.
0:36.3	I'm Eric Townsend.
0:38.0	All-Star Danielle de Martino Booth is back with us today.
0:41.7	This episode will air on Monday morning, so Danielle, we're coming into FOMC meeting
0:47.6	and press release on Wednesday.
0:50.0	This is kind of a big one.
0:51.2	A lot of people have been expecting a rate cut.
0:54.0	What should investors expect as we see the FOMC and what they have to say on Wednesday?
0:59.8	Well, so first of all, I think investors and market players should be highly aware of how
1:05.5	very historic Wednesday is.
1:08.0	The last time that the Federal Reserve lowered interest rates was December the 14th, 2008.
1:13.2	So it has been a very long time since the Fed has even flirted with an easing cycle.
1:18.2	So this will be a monumental move and more importantly, it could set off a currency
1:22.9	war where other countries that are desperate to keep their currencies weak decide to start
1:29.2	a tick for tax meeting with the Fed pushing policy makers to continue lowering rates.
1:37.2	And I think the way markets operate naturally is the minute Jay Powell leaves the podium
1:43.1	after Wednesday afternoon press conference.
1:46.0	Market participants are going to do what they always do, especially in a Twitter world.
	...

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