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The David McWilliams Podcast

US interest rates: What's driving them?

The David McWilliams Podcast

David McWilliams

News & Politics

4.6643 Ratings

🗓️ 10 October 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

We're in North America this week thinking about the US economy. How come the USA is creating so many jobs, why are interest rates not biting, does macroeconomics have to have a massive re-think about monetary policy and if so, what does this all mean for you? Is the Fed flunking it?

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Transcript

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0:00.0

Now, just before we start, I have a special announcement.

0:03.7

It's a new Kilkenomics X event.

0:06.4

That means it's in Dublin, not in Kilkenny.

0:08.9

It's on the 13th of October, and it features Michael Lewis,

0:13.0

the author of The Big Short Flash Boys, Moneyball.

0:16.3

He's talking to me in St. Patrick's Cathedral about his new book,

0:20.7

which is called Going Infinite.

0:22.5

And it is the story of Sam Bankman-Fried.

0:26.3

Sam Bankman-Fried, you will know, was the chief executive of FTX,

0:30.9

the crypto exchange that went spectacularly bust around this time last year.

0:35.6

Now, before this guy was 30, he'd become the world's

0:38.9

youngest billionaire, making a fortune on crypto. Now, chief executives, celebrities, world leaders,

0:44.6

they were all vined for his time. At one point, he considered paying off the entire national

0:49.0

debt of the Bahamas so that he could take his business there. And then it all fell apart. And Michael Lewis was

0:56.1

there when it happened, having got to know SBF, as he was called, during his epic rise. Now,

1:02.0

this new book, going infinite, and I'm reading it right now, tells the story like no other,

1:06.7

taking you through the mind-bending trajectory of a character who never liked the rules

1:10.6

and was allowed play by his own.

1:12.8

So if you're interested in economics, finance, crypto, boom busts, legal trials, what happens when companies rise dramatically and then fall to the ground?

1:23.9

This is the gig for you, and it's an amazing story.

1:26.7

So the gig is Michael Lewis, talking to

1:30.2

myself, David McWilliams, 13th of October, a Friday night, 8pm, St. Patrick's Cathedral in Dublin,

...

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