cover of episode Richard Clarida on This Tricky Moment for the Federal Reserve

Richard Clarida on This Tricky Moment for the Federal Reserve

2024/11/14
logo of podcast Odd Lots

Odd Lots
AI Deep Dive AI Chapters Transcript
People
J
Joe Weisenthal
通过播客和新闻工作，提供深入的经济分析和市场趋势解读。
R
Richard Clarida
前联邦储备系统董事会副主席，现任PIMCO经济顾问和哥伦比亚大学经济学教授。
T
Tracy Alloway
知名金融播客主播和分析师，专注于市场趋势和经济分析。
Topics
Tracy Alloway 和 Joe Weisenthal 指出，美联储的货币政策制定目前面临两难困境：一方面需要根据短期经济数据进行调整，另一方面又要考虑特朗普政府新政的长期影响，市场对这两种不同时间框架的关注也增加了决策的复杂性。Richard Clarida 认为，美联储已开始降息，因为他们判断当前政策具有限制性，即使通胀略高于目标，也需要启动降息进程，因为货币政策存在滞后性。他也强调，美联储并非预设降息路径，而是依赖数据，十二月降息的可能性较大。

Deep Dive

Chapters
The episode discusses the Fed's recent decisions and the challenges it faces with inflation, economic data, and political uncertainty.
  • Fed meeting schedule confusion and its impact on market expectations.
  • The Fed's focus on short-term data dependency versus market's medium-term outlook.
  • Uncertainty about the Trump administration's economic policies and their potential impact.

Shownotes Transcript

Last week the Federal Reserve opted to cut interest rates by 25 basis points, which was what the market expected it to do. But things get more uncertain from here on out. Inflation has been softening this year, but there’s a sense that this trend could turn — especially with the Trump administration coming in after the new year. All of this raises the question of what the Fed does next, and how it’s approaching near-term data versus the longer-term outlook for the economy. At the same time, Trump has had vocal disagreements with Chair Jerome Powell over the path of monetary policy and the role of the central bank, which adds more uncertainty. On this episode, we speak with former Fed Vice Chair Richard Clarida, now an economic advisor at Pimco and a professor of economics at Columbia University, about where the Fed goes from here.

Become a Bloomberg.com subscriber using our special intro offer at bloomberg.com/podcastoffer). You’ll get episodes of this podcast ad-free and exclusive access to our daily Odd Lots newsletter. Already a subscriber? Connect your account on the Bloomberg channel page) in Apple Podcasts to listen ad-free.

See omnystudio.com/listener) for privacy information.