Viktor Shvets on How the Fed Has Become a Prisoner of Its Own Making
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 13 May 2024
⏱️ 53 minutes
🧾️ Download transcript
Summary
This week, we'll get fresh inflation data in the US, which will inevitably feed into the Federal Reserve's future decisions to raise, hold or lower benchmark interest rates. Meanwhile, the Biden administration is preparing to announce new tariffs aimed at curbing Chinese imports in key industries, including electric vehicles, batteries and solar cells. On this episode, we speak to Odd Lots favorite Viktor Shvets. The Macquarie strategist has a way of threading the needle between major global events and reaching back into history to provide context for our current macroeconomic moment. He describes the US central bank as a prisoner of its own policies, namely data dependency and the "dot plot." Meanwhile, China faces "massive" overcapacity problems as more and more countries put up barriers to its exports. We also talk about generational shifts and what they mean for investment.
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Transcript
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| 0:30.3 | LLC. The countdown has begun. |
| 0:34.0 | This May, a thousand global leaders will gather in Doha for the Carter Economic Forum powered |
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| 1:02.0 | Bloom. Forum. Hello and welcome to another Wiesenthall. |
| 1:25.0 | I'm Tracy Allaway. |
| 1:27.0 | And I'm Joe Weisenthall. |
| 1:28.0 | Joe, did you watch the FOMC Presser recently? |
| 1:31.0 | No, I did not because we were recording an episode of the |
| 1:34.1 | Odd Lots podcast. I know that you didn't watch it either unless you watched it |
| 1:38.7 | on video afterwards in which case you are a better journalist than I am? I didn't just to clear that up. |
| 1:44.2 | What I did was I read a bunch of analysis of the Fed meeting |
| 1:49.0 | and a bunch of news summaries of what happened. |
| 1:52.0 | And I have to say there was one term that I really liked |
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