Hunt Adviser Talks Likely Recession, the Fight Against Inflation, and Brexit Pain

Leaders with Francine Lacqua

Bloomberg

Entrepreneurship, Careers, Management, Business

4.6 • 64 Ratings

🗓️ 31 August 2023

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Karen Ward, EMEA chief market strategist at JP Morgan Asset Management and a key adviser to Chancellor of the Exchequer Jeremy Hunt, joins hosts Francine Lacqua and David Merritt to unpack key points by central bankers who attended the Jackson Hole Economic Symposium, and what it all means for the BOE and the UK. For the latter, the answer is recession.

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Transcript

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0:54.9	now on Apple, Spotify, or anywhere you listen. Hi, Fran. Hi, Dave. Hi, Dave. Chau, Francine.
1:03.1	Ciao, Dave. Dave's all Italian. But you know, summer's over when there's Jackson Hole.
1:08.3	Yes, exactly. Even more fun than my Italian holiday was the annual
1:13.2	get-together of central bankers in Wyoming. Wish we were there, right?
1:21.2	Wyoming over an Italian island? Absolutely, Dave. I'm 100% with you, especially when central
1:26.4	banks say, we have no playbook. We're not really sure where the economy's headed or how to tackle it.
1:31.4	That's right. And obviously, we have lots of reporters on the ground. And what we've heard back is that rates are going to be higher for longer. That's the message. Markets don't like it much, obviously. And rates already at multi-decade highs here in the UK, are they going to have to
1:45.8	keep rising to finally get inflation under control? I'm Francine Lacqua. And I'm David Merritt.
1:52.7	Welcome to In the City, Bloomberg's podcast connecting to the conversations at the heart of the
1:57.3	city of London. This week is a perfect time to really take stock of what we heard in Jackson Hole
	...

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