Did the Fed Topple Your Assets? Advice for Your Wallet

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 17 December 2021

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Dec16,2021:As the Fed wages its battle against inflation by signaling raising interest rates in 2022 at a faster pace than expected, Liz Young, Head of Investment Strategy at SoFi, explains who the winners and losers are from the Fed’s decision and how we should position our investments. Will a hike in interest rates accelerate the growth of cryptocurrencies? In the UK, the Bank of England raised interest rates for the first time in more than three years from 0.1% to 0.25%, which may increase the mortgage costs of some homeowners. In the meantime, businesses around the world continue to suffer from the spread of Covid and the Omicron variant. Liz Young speaks about these issues, the macro environment, our investment future, the clean energy trends, and the supply chain woes. Interviewed by Maggie Lake. Want to submit questions? Drop them here on the Exchange: https://rvtv.io/3F6i6ca Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Hello, welcome to the Real Vision Daily briefing. It's Thursday, December 16th, 2021. I'm Maggie
0:11.1	Lake and here with me today is Liz Young head of investments at SoFi. Hi, Liz, welcome
0:16.8	to Real Vision. Hi, thank you for having me. I'm really excited to be here. Yeah, it's
0:21.0	great to have you because we have a lot going on and particularly late in the session here
0:25.6	in the US. So we take a quick look at the market action. It was an ugly looking day for tax. We
0:30.8	see the NASDAQ down, you know, almost 400 points, about two and a half percent rustle getting
0:36.8	hit hard. The Dow was trying to stay in positive territory, really only thanks to financials, but
0:42.4	we're not really managing it right now. Vix is up, bonds pretty steady, metals up and interestingly
0:48.4	crypto down, which we'll talk about a little bit later. But you know, investors really taking stock
0:54.0	of what was a really busy week on the central bank front today, Bank of England, ECB. And they're
0:59.5	also trying to digest really the spread of the Omicron virus variant. Samuel Burke has the latest
1:06.5	from London. Maggie, the UK is facing the highest amount of COVID cases we've seen at any point in
1:13.6	the pandemic. And even though 70% of the population is fully vaccinated, England's chief medical
1:20.1	officer says that a post Christmas surge in hospitalizations is now inevitable. The government
1:26.6	had already asked people to work from home already put back a mask mandate. So people are wondering
1:32.6	what type of restrictions we'll see next. Businesses are starting to fuel the squeeze.
1:37.9	Restaurants and pubs had been hoping that Christmas parties would help the recovery from last
1:43.2	year's lockdown. Well, instead they're facing a huge wave of cancellations. Check out this tweet
1:49.6	from celebrity chef Tom Carridge showing that in just one of his restaurants over the past six days,
1:55.8	there have been 654 guests cancel their reservations. Now, the travel industry is already starting to
2:04.1	fuel the pinch as well. France has banned travelers from the UK from entering that country unless
2:10.9	they have a compelling reason. And even visiting relatives is not on the list of those reasons.
	...

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