This is Macro Voices, the free weekly financial podcast targeting professional finance,

high net worth individuals, family offices, and other sophisticated investors.

Macrovoices is all about the brightest minds in the world of finance

and macroeconomics telling it like it is, bullish or bearish, no holds barred. Now, here are

your hosts, Eric Townsend and Patrick Suresna. Macrovoices episode 525 was produced on March 26th, 2026. I'm Eric Townsend.

We've got another macrovoices double header lined up for you as we continue to add extra

interviews to cover the developing situation in Iran. Macrovoices' all-time listener favorite,

Lynn Alden returns is this week's headliner. Lynn and I will discuss the Iran conflict, the return to a multipolar world order,

the outlook for persistent inflation, the breakdown in private credit markets, and what

we can expect from monetary policy after Kevin Warsh takes over as Fed Chair.

That's assuming, of course, that he's confirmed, and much more.

For this week's Iran update, we're bringing back Robo Banks Michael Evry, who will weigh in on the

broader macro implications of this geopolitical upset. Then we'll aim to bring one of our oil experts

back next week. Then be sure to stay tuned for our postgame segment after the

feature interview when Patrick's trade of the week will take a look at food inflation and what it

could mean for emerging markets. And then we'll have our usual postgame chart deck with coverage

of all the markets as of Wednesday's close. And I'm Patrick Suresna with the macro scoreboard week over week as of the close of Wednesday,

March 26, 2006.

The S&P 500 index down 51 basis points trading at 6591.

The price action remains weak and distributive.

We'll take a closer look at that chart and the key technical

levels to watch in the postgame segment. The US dollar index down 57 basis points, trading at 9964,

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