Money and Politics: Richard Clarida and Libby Cantrill on the New Fed Chair, Iran Conflict, and the ‘Stag vs the Flation’

In a world shaped by big headlines, Richard Clarida and Libby Cantrill give advisors a grounded view of what really matters in Washington, the economy, and the markets. Together with host Greg Hall, they explore the next chapter for the Federal Reserve under Kevin Warsh, the fluidity of the conflict in the Middle East, and the political ripple effects of AI, inflation, and tariffs. About the Speakers  Dr. Richard Clarida is a former Vice Chairman of the Federal Reserve and current Global Economic Advisor at PIMCO  Libby Cantrill is a Managing Director and Head of Public Policy for PIMCO  Greg Hall is the host of Accrued Interest, a Managing Director, and the Head of U.S. Global Wealth Management for PIMCO (1:09) What to expect from a Warsh-led Fed (11:09) The fluid nature of the conflict in the Middle East (15:46) The political ripple effect of inflation (22:45) How do the midterms shape the rest of 2026? (25:11) Fiscal credibility and the bond market (29:37) Is stagflation really in play? (35:16) Where do things stand with tariffs? (38:02) The state of AI optimism If you enjoyed the episode, check out our related resources below:  A New Fed Chair, a New Tone – But Familiar Anchors by Richard Clarida  Podcast: When Geopolitics Becomes an Economic Input (Apple or Spotify) Subscribe to Libby Cantrill's newsletter, Washington Watch. The discussion and content provided within this podcast is intended for informational purposes only and may not be appropriate for all investors. Reliance upon information provided in a podcast is at the sole responsibility of the listener. The information included herein is not based on any particularized financial situation, or need, and is not intended to be, and should not be construed as, a forecast, research, investment advice or a recommendation for any specific PIMCO or other security, strategy, product or service. Past performance is not a guarantee of future results. All investments contain risk and may lose value. Investors should speak to their financial advisors regarding the investment mix that may be right for them based on their financial situation and investment objective. Podcasts may involve discussions with non-PIMCO personnel and such content contain the current opinions of the speaker but not necessarily those of PIMCO. Other podcasts may consist of audio recording of an existing PIMCO article and such material contains the current opinions of the manager. The opinions expressed in all podcasts are subject to change without notice. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. PIMCO as a general matter provides services to qualified institutions, financial intermediaries and institutional investors. This is not an offer to any person in any jurisdiction where unlawful or unauthorized. For additional important information go to www.pimco.com/gbl/en/general/legal-pages/podcast-disclosures