The Fed Stays Strong: Higher Rates for Longer

Real Vision: Finance & Investing

Real Vision

Business News, Business, Investing, News

4.1 • 1.1K Ratings

🗓️ 4 January 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Federal Reserve officials believe that “substantially more evidence” of slowing inflation is necessary before the central bank cuts interest rates this year, according to the December FOMC minutes which were released Wednesday afternoon. Fed officials cited concern that inflation could prove “modestly persistent,” and said that higher rates for longer will be necessary to fight inflation. Officials agreed that rate cuts shouldn’t happen in 2023. On today’s Daily Briefing, Darius Dale, the founder of 42 Macro, joins Maggie Lake to discuss the market’s response to this news, his view of inflation, and what it all means for global assets as we navigate the year ahead. Plus, we hear from Mish Schnieder of MarketGauge.com who gives us her opinion of where inflation will head in 2023. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This episode is brought to you by London Business School.
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0:30.0	What will stop the fed? Hi, everyone. Welcome to the Real Vision Daily Briefing and Happy New Year to all of you.
0:43.0	With me today is Darry Stale Founder of 42 macro. Hi, Darry, how's Happy New Year?
0:48.0	Happy New Year, Maggie. It's great to be back. It's great to be back with the Real Vision Gang, so appreciate bigger.
0:54.0	Yeah, I think everyone's we're feeling hopeful, but let's see what happens because 2022 really
0:59.0	knocked the stuffing out of a lot of people, but listen, we're two days into the trading year.
1:04.0	We had a down day for you as stocks yesterday, not a great way to start rebound today.
1:08.0	Just broadly, how are you feeling about the markets as we start this new year?
1:13.0	Well, great question. I'll answer not the question you asked, but the question that I didn't want to answer,
1:18.0	which is I don't really feel anything about the market size.
1:22.0	You know, we want a pretty systematic quantitative process here, 42 macro.
1:25.0	So the summary of those processes leads me to continue to be bearish.
1:30.0	I mean, as you know, on this program for quite some time, espousing our bearish bias on risk assets.
1:36.0	And really, you know, in the back half of last year on bonds as well.
1:40.0	It's been pretty, it's been pretty brutal out there for the past 14 months as we make that pivot.
	...

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