Inside the Head of the FED

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 6 August 2024

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

With financial markets on edge, the world is anxiously awaiting the Fed’s decision on whether to cut or maintain historically high interest rates. In this episode, we dive into the profound impact these choices have on commercial property, exchange rates, and stock markets. We explore the 'wealth effect' of these rates, now around 5%, and what it means for the real economy. A sharp drop in non-farm payrolls to 115,000 jobs from an average of 250,000 raises concerns about the U.S. economic trajectory—could a recession be on the horizon? We also bring the discussion home, examining how these shifts impact Ireland, especially given our reliance on multinationals like Intel, which recently saw a 30% stock drop. The Fed's data-driven decisions are not unlike ancient Assyrian stargazing, blending science with a dose of guesswork in shaping our economic future.

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Transcript

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0:00.0	John, we have something very exciting for our listeners, which is we are taking the podcast
0:05.5	out and about on a tour in September. I know you're all prepped. Absolutely. You're all, your
0:12.3	mind is focused. I can't wait to get out of the basement. Exactly. I've been locked up there
0:17.1	for years now. So we are from the 11th of September taking the podcast on tour.
0:23.0	We kick off in London and then from the 16th, we're back home and we're around the country.
0:27.9	And we would love to see you.
0:29.5	And you would also get a copy of the book, Money, a Story of Humanity signed by me.
0:35.8	So check out tickets at David McWilliams.com.
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0:42.1	And we'll see in September.
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