"Whiplash Week" Ends With a Jobs Jolt

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 5 February 2022

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

It wasn’t just the nonfarm payrolls data for January that moved markets on Friday. Upward revisions to prior months’ reports put a fresh glow on the U.S. economy – and also invited questions about Federal Reserve policy. “Too late the hawk” is how Harry Melandri might put it. Melandri, currently an advisor with MI2 Partners and formerly of Deutsche Asset Management and the Bank of England, notes that we have hit our “max non-inflationary growth potential.” In fact, the Fed “could tighten a lot without having a restrictive monetary policy.” The issue now could be either how big is the “everything bubble” in the U.S. or whether inflation or growth is the central bank’s key policy objective. Melandri joins Real Vision’s Maggie Lake at the end of one of the most fascinating weeks in recent financial market history. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3rsVnTh Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:35.4	Hello and welcome to the Real Vision Daily Briefing.
0:37.8	It's Friday, February 4th, 2022.
0:40.4	I'm Maggie Lake and here with me today is the one and only Harry Melondry, advisor at MI2.
0:46.4	Hi, Harry. How are you?
0:47.8	I'm good. I'm good. It's good to see you again, Maggie.
0:50.2	Same here. Same here. So great to have you on Friday, jobs Friday,
0:55.2	another big, surprising number.
0:57.6	We saw a move up in U.S. Bond yields, equity markets that actually stabilise
1:01.2	after posting some pretty big swings again this week.
1:04.4	So let's kick it off with jobs.
1:07.2	Why don't you make the report?
1:08.6	Was there any new information in there for us?
1:12.2	So there is so much new information.
1:14.2	I can't really give you a sensible answer because, first of all, on its face,
1:20.0	those are obviously lower at numbers.
	...

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