BREAKDOWN: Market Whiplash as Jobs Report Undermines Powell’s Less Hawkish Speech

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CoinDesk

News, Tech News, Daily News, Business News

4.7 • 698 Ratings

🗓️ 3 December 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

November saw a higher-than-expected 263,000 jobs added. This episode is sponsored by Nexo.io, Circle and Kraken. On this edition of the “Weekly Recap,” NLW catches up on the macro landscape, including recapping Federal Reserve Chair Jerome Powell’s speech on Wednesday and how the jobs report released Friday might undermine it as a market signal. - Nexo is a security-first platform where you can buy, exchange and borrow against your crypto. The company ensures the safety of your funds and keeps innovating with products like the Nexo Wallet - a non-custodial smart wallet that allows you to create your Web3 identity. Get early access at nexo.io/wallet. - Circle, the sole issuer of the trusted and reliable stablecoin USDC, is our sponsor for today’s show. USDC is a fast, cost-effective solution for global payments at internet speeds. Learn how businesses are taking advantage of these opportunities at Circle’s USDC Hub for Businesses. - Kraken, the secure, trusted digital asset exchange, is our sponsor for today's show. Kraken makes it easy to instantly buy 185+ cryptocurrencies with fast, flexible funding options. Your account is covered by regular Proof of Reserves audits, industry-leading security and award-winning Client Engagement, available 24/7. Sign up and trade today at kraken.com/breakdown. - “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 sponsors today is "Back To The End" by Strength To Last. Image credit: ryasick/Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:43.9	Wondery UK. That's audible.com slash Wondery UK.
0:53.9	Welcome back to The Breakdown with me, NLW.
0:58.8	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
1:05.0	The breakdown is sponsored by nexo.io, Circle, and Cracken, and produced and distributed by CoinDesk.
1:12.5	What's going on, guys? It is Saturday, December 3rd, and that means it's time for the weekly recap.
1:18.4	One note before we dive into that, there are two ways to listen to the Breakdown Podcast.
1:23.0	You can hear us on the Coin Desk Podcast Network feed, which comes out every afternoon,
1:26.3	and it features other great Coin desk shows, or you can listen listen on the Breakdown Only feed, which comes out a few
1:31.0	hours later. Wherever you are listening, I would so appreciate it if you would take the time
1:35.1	to leave a rating or a review. It makes a huge difference, and I really appreciate each and every
1:39.2	one of them. Now, for today's weekly recap, we are going to check in on some of the macro topics that all of the shenanigans in crypto world have forced us to not cover during the week.
1:51.0	And where I'd like to start is with Jerome Powell's remarks on Wednesday, which were the second most anticipated comments of the day after Sam's New York Times conversation.
2:02.4	So Federal Reserve Chair Jerome Powell spoke at the Brookings Institution on Wednesday, ostensibly to discuss the labor market, but also
	...

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