Did the Fed Do Enough? The Central Banks’ Great Awakening 6/16/22

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CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 16 June 2022

⏱️ 29 minutes

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Summary

The Fed raised interest rates by 75 basis points on Wednesday and alluded to more hikes in the coming months, as CNBC’s Steve Liesman recaps. But did the Fed do enough? Mohamed El-Erian, Allianz and Gramercy advisor and president of Queens’ College, Cambridge shares his thoughts on the Fed, the European Central Bank, and the Swiss Central Bank after all three announced interest rate hikes. CNBC’s Jon Fortt considers whether the Fed raised rates high enough, quickly enough, and what it will take to find a ‘soft landing.’ In this episode: Mohamed El-Erian @elerianm Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Mike Santoli @michaelsantoli Steve Liesman, @steveliesman Jon Fortt @jonfortt Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:02.6	Hi there, I'm C. M. C. producer Cameron Costa.
0:07.6	Today on Squack-POD, a Fed Recap.
0:10.6	The US Central Bank's most aggressive move in 28 years and the doors open for another one next month
0:18.0	Clearly today's 75 basis point increase is an unusually large one and I do not expect moves of this
0:24.0	size to be common. Plus the Fed says inflation this year will likely be even
0:29.3	higher than we thought. You know you have to be on alert it doesn't mean something
0:32.4	nasty is going to happen. No. But it it's than we're
0:35.0	checking in we thought you know you have to be on alert it doesn't mean something nasty
0:36.4	we're checking in with economists like see nb c's Steve leisman and allian's chief
0:40.9	economic advisor m Alarian.
0:43.4	We need a more honest Fed.
0:44.8	We need a Fed that first acknowledges why it got its inflation
0:48.1	forecast so wrong for so long.
0:50.2	What the Fed got right and wrong with
0:53.2	CNBC's John Ford.
0:54.8	Well, if policy makers had accurately gauge reality,
0:58.0	they should have been at 75 all along and considering 100.
1:01.2	It's Thursday, June 16, 2022, and and
1:05.0	Squatpad begins right now.
1:08.0	Stand Becky by three, two, one, fuel.
1:11.0	Good morning, everybody.3. Good morning everybody.
	...

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