The Election and Your Money Part One

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 17 October 2020

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

In October 2016, I warned that in advance of the presidential election, “you should not make changes to your portfolio in an effort to outfox the tried and true investment strategy of identifying your personal goals and objectives; creating and sticking to a diversified asset allocation plan, using low cost index funds; and rebalancing two to four times a year.” Four years later, I am sticking to that guidance, so let’s just pinky-swear that you won’t try to adjust your investments or time whatever market movement you expect, and I promise not to lecture you about the folly of trying to time the market, OK? To help us break down how the upcoming election may impact your investments, we're joined by Nathan Sheets, Chief Economist and Head of Global Macroeconomic Research at PGIM Fixed Income. Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Podcast. It is Saturday October 17th and we are
0:09.6	delighted that you are joining us. The weekend podcast is when I get to interview really cool people who think big or maybe small doesn't really matter but cool people.
0:20.0	Mark found this guy because he read an article that this guy wrote in Barons and his name is Nathan Sheets. He's an economist and we invited him on because Mark basically sent me an email, said, oh, finally, someone who can compare the two presidential candidates with no partisanship.
0:41.0	And I think that is one of Nathan Sheets great strengths. So he's the chief
0:46.5	economist and head of global macroeconomic research at PGIM fixed income.
0:52.9	He did spend a bunch of his career in government related jobs.
0:56.4	He did serve at the U.S. Treasury under the Second Obama Administration, but also at the Federal
1:02.2	Reserve Board and the IMF before that.
1:04.6	He's pretty middle of the road, and he says, like, I'm just a wank.
1:08.0	So in the first part of our interview, we are focusing on President Trump's economic policies and whether or not
1:17.3	stimulus will be detrimental to the national debt and what that means in terms of contemplating what kind of
1:26.0	stimulus we need. Here is the first part of our interview with Nathan Sheets. I want to
1:31.5	start first by getting a little bit of your bio here. You had a kind of a cool job in the last administration. What did you do?
1:40.0	So I was the under secretary for for International Affairs at the US Treasury, which means that I was responsible for the international program of the Treasury, working with foreign counterparts,
1:56.0	building relationships, working in the G20, the IMF, and so forth representing the United States around the world.
2:03.6	Before you took that job, were you political in nature?
2:08.4	Was that like, oh, that's the coolest thing?
2:10.3	How'd you get involved in that?
2:12.0	My roots, I think the best word I could use would be technocratic or, you know, pure economic analysis that I spent almost 20 years at the Federal Reserve also in the
2:25.9	International Division and then spent a few years in the private sector speaking to market participants.
2:35.0	And in the process of those other activities,
2:40.0	I built relationships with a number of folks who were working at the Treasury.
	...

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