BREAKDOWN: Jerome Powell Finally Believes He Might Actually Get His Soft Landing
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 2 February 2023
⏱️ 16 minutes
🧾️ Download transcript
Summary
The FOMC raised rates by the expected 25 basis points at this week’s meeting.
On today’s episode, NLW breaks down the Federal Open Markets Committee rate hike decision, as well as Fed Chairman Jerome Powell’s comments on inflation, the labor force, the debt ceiling and loosening financial conditions. While many commentators have argued that Powell failed to be as hawkish as he wanted, NLW argues that Powell’s ultimate objective may have actually changed over the last few months.
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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 “Foothill Blvd” by Sam Barsh. Image credit: Kevin Dietsch/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.
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Transcript
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| 0:43.9 | Wondery, UK. That's audible.com slash Wondery UK. |
| 0:49.8 | I don't know, man, Powell at this point has a pretty good beat on what it takes to send a message |
| 0:54.6 | to investors. This is a guy who scrapped his entire plan Jackson Hull speech and hit him hard |
| 0:59.7 | with an eight-minute speech that turned markets off a rally back last summer. If Powell had wanted |
| 1:04.8 | to tamp down on markets and really fight the narrative around these loosening financial conditions, |
| 1:11.7 | I think he would have done so, or at least I think it's a mistake to assume that that was his goal, and he somehow |
| 1:16.3 | missed it. So what could possibly be the explanation then? |
| 1:21.9 | Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 1:31.8 | The breakdown is produced and distributed by CoinDesk. |
| 1:37.2 | What's going on, guys? |
| 1:38.5 | It is Thursday, February 2nd, and today we are talking about the first FOMC rate decision of the year, and whether |
| 1:46.0 | Chairman Jerome Powell is finally, truly convinced that he has a chance at a soft landing. |
| 1:52.3 | Before we get into that, however, if you are enjoying the breakdown, please go subscribe to it, |
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