Ghosts of Volcker Past: The Fed’s Inflation Fight. 3/17/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 17 March 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

The markets react to the Fed’s strategy to combat inflation with the first rate hike in over three years. Former Vice Chair of the Federal Reserve Roger Ferguson considers whether six more hikes in 2022 would increase the probability of a U.S. recession, and whether investors are haunted by the last time the Fed tried to fix inflation with big hikes. Plus, President Biden has some sharp words for President Putin, and Netflix might be cracking down on shared accounts. In this episode: Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Klaire Odumody, @klairemarie

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod.
0:06.0	I'm C. NBC producer Claire Odumody.
0:08.0	Today on our podcast.
0:10.0	The first interest rate height from the Fed in more than three years with more to come
0:15.6	and markets rally maybe on hopes the move will cut inflation. I couldn't
0:21.0	help thinking about the market being Kevin Bacon.
0:23.7	Thank you, sir, may I have another?
0:25.3	It made me think of Jim Carey.
0:26.7	So you're saying there's a chance.
0:29.3	Frequent big rate hikes might worry investors,
0:31.9	but former Federal Reserve Vice Chair Roger Ferguson says
0:34.8	Don't let ghosts of Volker Past haunt you.
0:38.5	Say that the risk of a recession is gone up does not mean that we should bat down the hatches expecting the kinds of
0:44.4	things that we've seen in terms of really deep traumatic moments.
0:48.0	Plus the latest in Ukraine and keeping all the headlines from geopolitics to pop culture straight.
0:55.1	The current world, the current simulation we're in right now there are a lot of things
0:59.2	you gotta be careful about.
1:01.0	It's Thursday, March 17, 2022.
1:03.8	Squad begins right now.
1:06.3	First up on the podcast today, we have lift off for rates that is. The FOMC raised its
1:15.7	policy interest rate by one-quarter percentage point. After deliberating for two days
	...

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