BREAKDOWN: The Dreaded Federal Reserve Taper Is Coming
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 September 2021
⏱️ 14 minutes
🧾️ Download transcript
Summary
How will markets handle less Fed support for the bond markets and eventual interest rate increases?
This episode is sponsored by NYDIG.
Today on “The Breakdown,” NLW examines the upcoming Federal Reserve winding down, or taper, of its support for the markets. This includes scaling back its bond-buying programs, a process that could begin as early as next month and conclude the middle of next year. Plus, the Fed may raise interest rates before the end of 2022. Additionally, on the Brief, he covers:
- A $50 million fundraise for a former ConsenSys exec
- A new social token focused accelerator
- Invesco and Galaxy team on crypto ETFs
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NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features NLW, with editing by Rob Mitchell and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Only in Time” by Abloom. Image credit: Andrew Harrer/Bloomberg/Getty Images, modified by CoinDesk.
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Transcript
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| 0:00.0 | Projections released at the end of the meeting showed that half of the 18 Fed officials expect to raise interest rates by the end of next year, 2022. |
| 0:08.2 | In June, by contrast, only seven thought that. |
| 0:11.3 | Most thought that it was going to be 2023 at least. |
| 0:14.4 | The broad sense in markets is that Fed officials are finally catching up to what everyone has been saying, |
| 0:19.9 | which is that inflation is not transitory, |
| 0:22.0 | but in fact, something that could be more persistent. |
| 0:26.5 | Welcome back to The Breakdown with me, NLW. |
| 0:30.6 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:37.7 | The Breakdown is sponsored by Nidig and produced and distributed by CoinDesk. |
| 0:44.1 | What's going on, guys? It is Thursday, September 23rd. And today, we are talking about the Fed |
| 0:51.4 | Taper. Ooh. |
| 0:56.7 | First up, however, let's do the brief. |
| 1:00.7 | Let's kick off the brief with some funding news. |
| 1:06.7 | A former executive from Consensus, Kavita Gupta, has closed their first venture round, |
| 1:08.8 | a $50 million fund. |
| 1:13.3 | The fund's mandate is to back startups in the institutional, decentralized finance, |
| 1:19.0 | blockchain-based gaming, and NFT spaces. It's called Delta Blockchain Fund, and here's what Gupta had to say about it. Delta Blockchain Fund is a strategic partner for outstanding founders |
| 1:24.0 | building products to scale and support a decentralized world irrespective of their |
| 1:28.0 | chain solution. We truly believe that the future will be on multi-chain and we want to support |
| 1:32.6 | various cross-bridging scalable multi-chain solution and DAPs on them. So why is this notable? Well, |
| 1:39.3 | frankly, there are far too few funds run by women in tech and crypto, of course. This may not always be a |
| 1:46.3 | popular opinion, but frankly, every different experience we have shapes how we see the world. And |
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