The Fed's Focus Is "Singular" Right Now

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 7 July 2022

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Institute of Supply Management’s services gauge sank to its lowest level in two years, mortgage demand declined despite falling rates, and the housing rental market cooled markedly, as evidence of economic slowdown accumulates. The Federal Reserve, meanwhile, as revealed by the minutes to the June 14-15 FOMC meeting, remains “highly attentive” to inflation risks. “The market is still in a process of pricing in or pricing out incremental tightening, as if there’s a spectrum of Fed activity,” explained Darius Dale in his daily note this morning. “But the Fed is waiting to achieve its signal before it does something different.” The Federal Reserve, according to Darius, is operating right now under a “singular” mandate, and that is to get inflation expectations re-anchored to its long-term 2% target. Darius, the founder of 42 Macro, joins Real Vision’s Maggie Lake to talk about whether and when the Fed will respond to data other than inflation. We also get a sneak peak at Raoul Pal’s and Sam Bankman-Fried’s discussion about what’s happening in crypto and beyond these days. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3akrlLq. Catch Raoul’s conversation with SBF on Friday. And be sure to catch Raoul's conversation with SBF on Friday. Learn more about your ad choices. Visit podcastchoices.com/adchoices

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1:13.4	Hi everyone. Welcome to the ReoVision Daily Briefing. It's Wednesday, July 6, 2022. I'm Maggie
1:18.8	Lake and here with me today is Darius Dale, founder of 42 macro. Hi, Darius. Hey, what's
1:24.8	up Maggie? How are you? I'm doing okay. You know, it was a really interesting session today and
1:30.0	I'm plugging back in from having sort of been unplugged in a way for weeks. So we see stocks advancing,
1:36.4	bond yields moving higher, energy lower and investors really sifting through. It seems like
1:41.3	the Fed minutes and some data coming in and all I heard about all day long and splashed all over
1:46.4	the place was recession. So, you know, let's start with those Fed minutes. Anything jump out at
1:51.8	you as different or interesting that would have caused any kind of market reaction?
1:56.5	Yeah, two things in particular, although I'm not sure the market reaction today reflected
2:01.2	those two things, but I'd say the number one thing that really caught my attention was just how
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