Jay versus the volcano

Grant’s Current Yield Podcast

Grant's Financial Publishing, INc.

Investing, Business, Stockmarkets, Financeexpertjimgrantoninvestment, Realestatefederalreserve, News, Business News

4.6 • 693 Ratings

🗓️ 4 August 2019

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Jim Bianco, president of Bianco Research, calls in to discuss the state of markets and central banking following Wednesday’s rate cut.

@biancoresearch

https://www.linkedin.com/in/james-bianco-117619152/

2:25 Press conference post-mortem

8:01 Inverted yield curve: predictor of recession, or cause?

14:10 Negative rates on the way for the U.S.?

21:41 Jim’s interview at the Fed

Subscribe to Grant’s Podcast on iTunes, Stitcher, iHeart Radio and Google Play Music. Grant’s Interest Rate Observer is available at http://www.grantspub.com

Transcript

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0:00.0	Ladies and gentlemen, welcome to Current Yield.
0:06.0	This is Grant's interest rate observer of the air, and I guess on the wires, too.
0:11.0	I have no idea how this is getting to you, but maybe by fax machine.
0:15.0	But Eric Whitehead is the control panel and seeing all that technical stuff.
0:19.0	With us today is Evan Lorenz, the great deputy editor of Grants and Phil Grant, who produces
0:24.5	our almost daily grants, which you must read.
0:27.6	I think that as a suggestion.
0:29.7	And our special guest is Jim Bianco, who is the Chief Cook and Bottle Watcher of Bianco
0:34.6	Research LLC, which is situated in Chicago and, which turned 21 this
0:40.7	year. So can the firm drink, Jim? Yes, the firm can drink. We can afford it. Okay. Well, Jim,
0:46.3	it is a pleasure to have you. I mean, we, I can give away this secret. We are taping this on
0:52.1	Thursday, the 1st of August. And I have been, personally, I have
0:57.0	been driving upstate New York most of the afternoon to occupy my summer typing quarters.
1:03.0	But when I was on the road, apparently strange things happened. Jim, could you, by way of
1:07.0	preface to this discussion about the intricacies and the consequences of modern monetary policy.
1:14.5	Can you tell us what has happened today? I really haven't. Rather clueless.
1:19.4	About midday, President Trump came out and tweeted. That's how he does it.
1:24.6	That effect of September 1st, he's going to impose a 10% tariff on the $300
1:31.4	billion of Chinese goods that are currently not subject to tariffs. Now, this includes things like
1:39.0	iPhones and laptops and iPads and stuff that people can recognize, use, and love.
1:47.0	The other 250 billion of tariffs that have been previously announced have been on more business-related
1:53.0	products that the average consumer doesn't understand.
	...

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