Jurrien Timmer, Director of Global Macro, joins for this weeks “global macro view” to give a weekly market overview. He discusses rising inflation reaching a CPI change of 6.2% in the U.S. and going well above the Fed’s comfort zone, although there still are some transitory elements present. Jurrien talks about the U.S. unemployment report which was released Friday December 3rd, that has shown employment rates are now beyond full capacity. He touches on the supply chain bottle necks potentially causing a significant slowdown in economic activity coinciding with the Fed normalizing policy in 2022. He also spoke on the historical trend of the Fed using lagging indicators to set forward looking policies that caused many policy errors in the past. Jurrien touches on the “stealth correction” seen where the market has rotated to favour different investment styles and sectors compared to earlier this year.

Recorded on December 6, 2021.