The Fed held rates last week, but two officials voted to hike. Eric Wallerstein of Clocktower Group explains what really decides a Fed meeting, why outside pressure from the White House changes little, and how diesel prices that are higher than in 2022 could drive more hikes.
Chapters:
00:00 Eric Wallerstein on the Fed’s Next Move
00:37 Why a December Rate Hike Is Baked In
01:11 Trump, Lisa Cook and Political Pressure on the Fed
02:19 Diesel Prices and the Next Round of Rate Hikes
03:55 Election Day, the Deficit and Mortgage Rates
05:52 From Globalization to Resource Nationalism
07:03 Goods Inflation and the End of Low Rates
08:57 How Weak Is China’s Economy?
11:00 The US-China AI Arms Race
12:37 Populist Pushback Against Data Centers
14:02 Bitcoin in a Higher-for-Longer Regime
16:23 Why Reserve Managers May Move to Bitcoin and Stablecoins
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