Are We Seeing the Fed’s Lag Effects?

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 24 November 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets held modest gains late Wednesday, as minutes from the most recent meeting of the Federal Open Market Committee suggest monetary tightening will continue, though at a less intense pace, and the policy interest rate may even reach a higher terminal level than initially forecast. That’s as more and more indicators point to slowing growth in the U.S. At the same time, data from Europe suggest things may not be as dire as once feared. Andreas Steno Larsen welcomes Weston Nakamura to talk about central bankers, markets, and the economy (perhaps a little World Cup, too) in the middle of a holiday-shortened trading week in the U.S. Andreas and Weston assess near-term price action in the broader macro context — and separate the hawks from the doves just ahead of Turkey Day. We also hear from Jamie McDonald about position-sizing, portfolio management, and the importance of process in a complex macro environment. Watch the complete “We Got the Message” episode featuring Jamie McDonald here: https://rvtv.io/3F5TtPj. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hi, guys, and welcome to the Real Vision Daily Briefing.
0:10.4	This is Antelastino from Real Vision Speaking.
0:13.7	Turkey is stuffed, and it is not even Thanksgiving yet.
0:18.0	This is, of course, a Thanksgiving joke.
0:20.5	But it's also very telling for the financial landscape that we are amidst.
0:25.6	We will get back to why, but Turkey is actually the best performer in the world when it comes
0:29.7	to equity markets this year.
0:32.3	Today, I'm joined by my colleague, Weston Nakamura, from Tokyo.
0:36.7	It's very good to see you, Weston.
0:38.0	I'm looking forward to spending the next 30 minutes in your company.
0:42.5	Yes, sir. Good to see you, too.
0:45.0	We will try to make it an interactive session today.
0:48.0	So we strongly urge you to ask all the questions you may have.
0:51.5	We will answer as many as possible over the next 30 minutes.
0:54.8	So shoot us your questions at YouTube, Twitter,
0:57.8	the Real Vision web page, and so on.
1:01.0	We will get back to those in a second.
1:02.8	But before we get to the questions, Weston, we had the Fed minutes earlier.
1:08.2	And I think the headlines for pretty clear, right?
1:11.0	It is now written on paper that Fed officials see smaller aid hikes coming soon.
1:18.2	What do you make of that in the market reaction?
1:21.7	The, I mean, as far as like Fed funds pricing, I mean,
	...

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