All-Stars #53 Juliette Declercq: What to expect from the ECB on Thursday

Macro Voices

Hedge Fund Manager Erik Townsend

Business, Investing, Business:investing

4.8 • 3.4K Ratings

🗓️ 9 September 2019

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

All-Star Juliette Declercq weighs in on what to expect from the ECB this Thursday, as well as her own prescriptions for monetary policy. Link: http://bit.ly/2kAtLfb

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.
0:30.7	Macrovoises All Stars episode 53 was recorded on September 9th 2019.
0:36.1	I'm Eric Townsend.
0:37.8	JDI Research Founder Juliet DeClerk is back with us this week.
0:42.4	Juliet, all eyes are on the ECB on Thursday.
0:46.4	What should we expect?
0:48.3	OK, firstly on the ECB, I think we need to have a big
0:52.6	rethinking about what a big package means.
0:57.2	So I think this week investors on TCPade that the ECB will unveil a super package,
1:04.0	including rate cuts, a tiered system, and a return to QE.
1:09.2	I think that consensus is probably like 10 by 10 cuts and 30 billion euros of QE per month.
1:17.0	What I've shown in the last JDI Research report, entitled Change is the only constant,
1:24.0	is that monetary policy now works in reverse.
1:27.6	So how does this so-called big package even make any sense at this point?
1:33.4	Come back on what I explained in my report.
1:36.9	Central banks have been so successful with forward guidance
1:40.9	and literally convincing the public that positive saving rates will soon be a thing of the past.
1:48.2	And you know, as an aside, arguably social media and fear mongering
1:52.6	has had a multiplied effect on that, that basically individuals are leaping at what they believe
	...

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