MNI FedSpeak Podcasts: Recent Episodes
Hosted by Pedro da Costa | Greg Quinn | Jean Yung
Tyler Meredith says housing squeeze "has become a real metaphor issue of middle-class success” and Justin Trudeau's Liberal government needs a large-scale solution to regain political support lost to the Conservatives. Public anger also radiates towards the Bank of Canada but the central bank isn't being singled out, he says.
Elliot Hughes at Summa Strategies discusses Canadian Prime Minister Justin Trudeau's efforts to convince voters upset over the surge in housing costs, saying his recent comments suggest a potential expansion of more direct federal involvement in homebuilding.
Robert Asselin, adviser to the Business Council of Canada and previously to the prime minister and finance minister, says the central bank likely needs high-for-long interest rates that will further crimp badly needed investment. He also says a recent cabinet shuffle put communication ahead of strong policy as Justin Trudeau girds for the next election.
The Federal Reserve is likely to keep tightening monetary policy despite an economy that is already effectively in a downturn, which is being masked by rising consumer borrowing and strong fiscal policy, former Dallas Fed advisor Danielle DiMartino Booth told MNI.
Money market funds are buying Treasuries again, leaving enough liquidity in the banking system for QT to continue for at least two more years, former New York Fed trader Joseph Wang tells FedSpeak.
Joseph Tracy, former senior adviser to Fed presidents Robert Kaplan and Bill Dudley, says it will most likely take a mild recession to rein in inflation.
Royal LePage Real Estate Services COO Karen Yolevski says many younger Canadian buyers feel the pressure to buy amid a lack of supply before prices become completely out of reach, even as they also feel the pinch of higher interest rates.
Robert Kaplan, former Dallas Fed President, worries the ripples from robust fiscal policy are making the Fed's job harder, and could yet force it to hike rates up to 6%.
Ex-IMF chief economist Simon Johnson says inflation is coming down quickly enough for the Fed to remain patient as it ponders possible additional rate hikes. We also talked about his new book, 'Power and Progress,' which takes a skeptical look at the idea that technological advances automatically make everyone better off.
Ex-Fed board economist and Peterson Institute fellow Joseph Gagnon discusses his outlook on Fed policy, inflation and employment. He thinks Fed rates will go a bit higher but the central bank will eventually pause as inflation ebbs at the end of 2023.
Ex-NY Fed economist Dominque Dwor-Frecaut expects a sharp drawdown of reserves as the Treasury rebuilds its cash balances after the debt ceiling resolution. She also explains why the Fed will likely have to raise rates much higher to bring inflation under control.
Thorsten Koeppl, a Queen's University economics professor and Bank of Canada research award winner, discusses how to handle coming losses on the central bank's bond purchase program and a potential further slowdown in interest-rate hikes.
The Bank of England may need to hike interest rates as high as 6% despite a looming UK recession, ex-MPC member Willem Buiter tells MNI.
The Fed's aggressive push to raise interest rates in the face of 40-year high inflation risks an overtightening of monetary conditions that could send the economy into recession, says Jeff Fuhrer, a former senior policy advisor at the Boston Fed.
Canadian trade finance bank EDC chief economist Stuart Bergman discusses why the global economy can cycle through next year without a recession if policymakers avoid hitting any pebbles.
Olivier Blanchard, the former IMF chief economist, sees only a narrow path to avoiding recession as the Fed will have to keep hiking rates to deal with high and stubborn inflation pressures.
Atlanta Fed economist Brent Meyer tells MNI it's no surprise the September CPI report showed persistently high inflation and that it will likely be months if not another year before inflation responds to rising interest rates.
Toronto Centre President Babak Abbaszadeh discusses training Ukraine’s central bankers on crisis management and helping supervisors worldwide improve policy coordination through the pandemic.
San Francisco Fed economist Nicolas Petrosky-Nadeau tells MNI the Fed is seeing an orderly slowdown in the labor market, with job openings peaking for a number of sectors and quits rates falling without layoffs taking off. We also discuss labor participation.
Atlanta Fed Research Director David Altig tells MNI the economy may yet skirt recession as the Fed battles historic inflation, but he admits the path is narrow.
Danielle DiMartino Booth, a former Dallas Fed advisor, tells MNI the U.S. economy is already effectively in recession but the Fed is going to keep hiking aggressively anyway.
Atlanta Fed Economist Patrick Higgins talks to MNI about the regional bank's closely watched GDPNow measure, which he said is unlikely to show a recession any time soon.
Ex-Fed Vice Chair Alan Blinder discusses Chair Powell's hawkish Jackson Hole speech, 'nearly unprecedented' U.S. inflation, and his new book on the history of U.S. monetary and fiscal policy.
Philadelphia Fed President Patrick Harker talks exclusively to MNI about inflation pressures, the direction of interest rates and financial conditions on the sidelines of the Kansas City Fed's Annual Jackson Hole Symposium.
Thomas Hoenig, former president of the Kansas City Fed, previews the upcoming Annual Jackson Hole Symposium, which he hosted for 20 years.
St. Louis Fed President James Bullard tells MNI rates may have to go higher than the Fed has already signaled, adding it's too soon to say U.S. inflation has peaked.
MNI Fed reporter Jean Yung discusses her takeaway from the Fed's latest 75 basis point rate hike and her impressions from attending Fed Chair Powell's press conference.
St. Louis Fed senior researcher Ana Hernandez Kent discusses her research on how single moms and other financially-challenged groups are recovering from the pandemic recession.
Former Fed board economist Bill Nelson breaks down why he's concerned that the cost to taxpayers from QE and its reversal is underappreciated.
Rick Roberts, former NY Fed executive and ex-Kansas City Fed adviser, tells MNI the Fed's latest rate hike makes 75 bp moves the 'new baseline' for now.
MNI's Evan Ryser attended this week's press conference with Fed Chair Powell, and discusses the outlook for policy after an aggressive 75 basis point rate hike.
Ex-MPC member Adam Posen says the Bank of England will need to raise rates by at least another 3 percentage points in order to control inflation.
MNI's Greg Quinn discusses the outlook for Bank of Canada policy after the central bank raised rates by a half percentage point.
MNI's Bank of England correspondent David Robinson speaks with FedSpeak host Pedro da Costa about the differences and similarities between the scenarios facing the Fed and the BOE.
Central bank advisor and LSE monetary scholar Ricardo Reis tells MNI the Fed is so far behind the curve that it will probably have to tighten policy even more than officials currently expect.
Richmond Fed President Thomas Barkin speaks exclusively to MNI about the prospect for further interest rate hikes, the likely path of inflation and more.
Former Fed board economist Roberto Perli sees at least a 50% chance that the economy will slip into recession as the Fed tightens monetary policy.
William Rodgers III, Director of Institute for Economic Equity at the Federal Reserve Bank of St. Louis, discusses the job market and his research on the benefits of true full employment.
The Fed will soon start to reduce its $9 trillion balance sheet in a process it hopes will run smoothly and in the background. However, former New York Fed senior trader Joseph Wang says reversing the biggest monetary experiment in modern history will not likely be that smooth.
"My own president is one of those advocating for a pretty aggressive hiking cycle, 50 basis points at more than one meeting," St. Louis Fed Vice President and Senior Economist David Andolfatto tells MNI. .
Former Atlanta Fed President Dennis Lockhart told MNI the Fed is doing its best to play catch-up on unexpected and persistent inflation.