BREAKDOWN: Hawks vs. Bulls – The Fed Clashes With Optimistic Investors
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 January 2023
⏱️ 18 minutes
🧾️ Download transcript
Summary
Markets and the Federal Reserve aren’t seeing eye-to-eye when it comes to what’s best for the economy.
On today’s episode, NLW previews the Federal Open Markets Committee meeting this week. While most still believe the Federal Reserve will raise rates by just 0.25%, there is a growing sense the hike will be accompanied by some harsh talk for a market the Fed thinks is getting overly optimistic around rapidly loosening financial conditions.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Swoon” by Falls. Image credit: kevin willans/500px/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:00.0 | To some extent, the Fed's job has now entered a much harder phase. |
| 0:04.5 | Inflation is clearly moderating. |
| 0:06.5 | There is a let-up, or at least some indicators, at least, in the labor data. |
| 0:09.8 | But at the same time, financial conditions are loosening significantly, as Wall Street |
| 0:13.3 | sees all those things as well. |
| 0:15.3 | It's one thing to be in a position to just hike into oblivion and keep the language strong. |
| 0:19.4 | It's another thing to try to keep everyone |
| 0:21.1 | in line during an in-between wait-and-see type period. Welcome back to the breakdown with me, |
| 0:28.4 | NLW. It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world. |
| 0:35.9 | The breakdown is produced and distributed by CoinDesk. |
| 0:41.2 | What's going on, guys? It is Monday, January 30th, and today we are talking about the Fed's |
| 0:46.6 | potential showdown with Wall Street later this week. Before we dive into that, however, |
| 0:51.5 | if you are enjoying the breakdown, please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into the conversation, |
| 0:57.6 | come join us on the Breakers Discord. You can find a link in the show notes or go to bit. |
| 1:01.1 | com. L.Y slash breakdown pod. All right, team, happy Monday and welcome to the first big |
| 1:07.1 | macro week of 2023. The Fed has its Federal Open Markets Committee meeting on Tuesday and |
| 1:12.5 | Wednesday, at which point we'll likely get our first insight into how Powell and Coe are thinking |
| 1:17.8 | about the economy heading into this new year. So what we're going to look at today is one, |
| 1:22.5 | how markets are thinking about that meeting and what's likely to happen, two, why there is |
| 1:26.2 | something of a battle going on between Powell and stock investors. And three, what some other indicators suggest about the |
| 1:32.0 | other big economic question, which is, of course, recession or not. Now, by way of background, |
| 1:37.7 | we have been in the most aggressive monetary tightening cycle since the early 1980s. This is, of course, |
... |
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