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MNI FedSpeak Podcast
by Hosted by Pedro da Costa | Greg Quinn | Jean Yung
MNI FedSpeak - Unearthing fresh Fed policy thinking and market intelligence
Episodes
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Liang Sees Upside Risk To Inflation For Fed
The Federal Reserve needs to keep a close eye on inflation to ensure a recent uptick does not become more embedded in the price-setting behavior of businesses and consumers, former Fed economist Nellie Liang told MNI. Liang was head of the Fed's Division of Financial Stability for seven years and...
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Lacker Sees Little Room For More Fed Rate Cuts
Former Richmond Fed President Jeffrey Lacker thinks incoming Fed Chair Kevin Warsh will refrain from pushing for interest rate cuts because the latest uptick in inflation is just not conducive to looser monetary policy.
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Reis Sees Room For Possible Resumption Of Fed Cuts
Renowned LSE economist Ricardo Reis, an academic consultant to the Richmond Fed, thinks incoming Fed Chair Warsh might be able to cut interest rates later in the year if energy prices level off then start coming back down. He's comforted by inflation expectations that are still anchored despite...
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MNI Webcast With St. Louis Fed President Alberto Musalem
St. Louis Fed President Alberto Musalem sat down with MNI's Pedro da Costa for an in-depth interview on monetary policy, the economic outlook and more.
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No Need For Fed To Cut With Inflation Still High-Ryding
The Federal Reserve will likely be going too far in easing monetary policy if it lowers interest rates again in December as widely expected, RDQ Economics chief economist John Ryding told MNI.
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Ex-SEC's Ghamami On Risks From Private Credit Surge
Former SEC economist Samim Ghamami discusses his recent research on rising systemic risk from private credit, as well as his thoughts on the path of Fed interest rates and Treasury market as the end of QT looms
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Sinclair Says Fed Must Be Extra Cautious Before Rate Cuts
The Federal Reserve needs to be extra careful about cutting interest rates in the current environment because inflation expectations are threatened not just by tariffs but also a perceived loss of central bank independence, says Tara Sinclair, who served as deputy assistant secretary for...
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Mester Says FOMC To Go Own Way If New Fed Chair Lacks Credibility
The heavy mantle of responsibility on the next Fed leader will guide him to set monetary policy independent of President Trump's influence, and should the Fed chair fail to make a convincing case for a desired course of policy, the 11 other members of the rate-setting FOMC would vote according to...
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Leeper Says US Fiscal Dominance To Keep Inflation At Simmer
The U.S. economy is operating under a regime of fiscal dominance that will make it harder for the Federal Reserve to keep a lid on inflation, Eric Leeper, a former Fed economist now at the University of Virginia, said on The FedSpeak Podcast.
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ADP's Richardson Sees 'Slow Grind' In Hiring, No Fed Cuts
ADP chief economist Nela Richardson sees a "slow grind" in the labor market as hiring weakens and employment shows a lack of dynamism. However, she doesn't think the will be enough to trigger Fed rate cuts this year, particularly considering strong wage growth and uncertainty about the path of...
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Unanchored Inflation Expectations Put Fed In Bind-Gorodnichenko
U.S. inflation expectations are not contained despite officials assurances to the contrary, which means inflation could quickly resume rising and climb above 4% before the end of the year, says Berkeley economist and SF Fed adviser Yuriy Gorodnichenko, who recently presented a paper at the Fed...
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Fed To Stay On Hold Until At Least End Of 2025-Lacker
Former Richmond Fed President Jeffrey Lacker discusses the outlook for interest rate policy and the economy amid the challenge of volatile trade wars, as well as his concerns about the expansion of the Fed's powers in conducting credit policy over time.
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China More Able To Reroute To Europe Than In '18
ECB economist explains why China might reroute trade to Europe in a higher degree than during the trade tensions in 2018
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Fed To Cut 50BPS In June As Growth Falters-DiMartino Booth
Ex-Dallas Fed Adviser Danielle DiMartino Booth thinks the U.S. economy was already in recession even before Trump's tariffs hit. Now, she believes the Fed is making a mistake by keeping interest rates steady. She is also concerned about threats to the dollar's safe-have status.
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Bank of Canada Seen On Hold For The Rest of 2025
Former Ontario forecasting manager and Oxford Economics Canada analyst Tony Stillo says prior cuts to neutral and concern about tariff inflation will keep the Bank of Canada on hold.
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Tariffs To Sideline Fed For Much of 2025-Carpenter
Seth Carpenter, former deputy director the Fed board's division of monetary affairs, thinks the central bank will barely be able to squeeze in another rate cut this year if at all before tariffs boost inflation for a while, leaving policymakers on hold until well into 2026.
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Nobel Laureate Johnson On 1st Month Of Trump 2.0
Nobel Laureate and MIT economist Simon Johnson said he's worried about the growth- and institution-damaging actions of the Trump administration, but relieved he seems willing to leave monetary policy to the Federal Reserve.
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Fed On Hold As Trump Shifts Muddy Outlook-Kroszner
The Federal Reserve is likely to keep interest rates on hold through much of this year as it seeks clarity on the economic impact of Donald Trump's policies.
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MNI Podcast: Central Bank Uncertainty Tends To Easier Policy
The more the central bankers stress uncertainty of the of the outlook the more likely they are to enact easier monetary policy, Bank of France senior economist Klodiana Istrefi told MNI. In her paper 'Interest rate uncertainty and firm decisions' Istrefi and co-authors defined "interest rate...
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US Deficits Driving Neutral Rate Higher-SEC's Ghamami
SEC Economist Samim Ghamami says the neutral rate of interest has risen because of higher U.S. budget deficits, meaning the Fed is likely to cut rates less than otherwise in this cycle.
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Bank of Canada Has Every Reason For Another Jumbo Cut
Investor Ed Devlin says Canada's weak economy needs a quick end to tight monetary policy, and a weaker dollar is no deterrent to central bank officials.
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Gagnon Sees Inflation Rebound Forcing Fed Pause
Former Fed board economist Joseph Gagnon thinks President-Elect Donald Trump's tariff and immigration policies will push up inflation again, forcing the Fed to halt rate cuts.
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EZ Consumer Expectations Surprisingly Accurate
The inflation expectations of eurozone consumers are surprisingly in line with macroeconomic developments and can provide a useful reality check to professional forecasts, European Central Bank economist Omiros Kouvavas told MNI. “Consumer expectations feed into consumers’ actions,” Kouvavas told...
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Muted Impact On EU Inflation From MidEast Oil
The inflationary impact on the eurozone from potential Middle East oil disruptions would have “half the firepower” of the 2022 gas crisis, in the absence of a “catastrophic scenario” involving the closure of the Strait of Hormuz, a senior European Commission energy analyst told MNI.
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Canada's Housing Shortage Seen Worsening
Bob Dugan, chief economist of Canada Mortgage and Housing Corp., discusses the industry's capacity limits and falling interest rates.
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Fed To Slow Easing, Inflation Risk Remains-Roberts
The Federal Reserve can't sustain 50 basis point rate cuts if the economy and the labor market remain strong and inflation pressures linger, ex-NY Fed executive Ricks Roberts told MNI.
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Reis Sees Gradual Fed Cuts, Resilient Labor Market
Ricardo Reis, an LSE professor who advises the Richmond Fed, the Bank of England and the Riksbank, tells MNI the Fed is likely to take an incremental approach to rate cuts.
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Stein Sees Patient Fed Despite Market Rout
Former Fed board governor Jeremy Stein tells MNI he thinks inflation will be sticky around 2.5%, forcing the Fed to be gradual about the pace of rate cuts barring some serious deterioration in the labor market.
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Bank of Canada Will Cut Rates Back to Neutral Over Two Years
Tony Stillo, Canadian economist at Oxford Economics and a former Ontario forecasting official, says the Bank of Canada will space out rate cuts given lingering wage and price inflation.
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Fed Right To Stay Patient On Sticky Prices-Evans
Former Chicago Fed President Charles Evans talks to MNI about the outlook for U.S. monetary policy, arguing that the Fed is justified in waiting to see if inflation is heading back sustainably to its 2% goal.
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Fed On Prolonged Hold, Get Used To It Wall St-Bair
In a wide-ranging interview, former FDIC Chair Sheila Bair talks to MNI about Federal Reserve policy, financial stability and the outlook for banking regulation.
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Fed On Hold For Now, Can't Rule Out Hikes-Andolfatto
Former St. Louis Fed policy adviser David Andolfatto is worried that fiscal largesse will prevent the Federal Reserve from reaching its 2% inflation goal anytime soon.
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BOC Can Go Far Once Rate Cuts Begin- Devlin
Devlin Capital founder Ed Devlin discusses the outlook for Bank of Canada interest-rate cuts this year and how officials will manage sticky inflation and a weakening economy.
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Inflation Still Far From Normal - ECB's Arce
The euro area economy and inflationary dynamics are “still far away from a normal post-pandemic situation,” as supply-side shocks still resonate, the European Central Bank’s Director General for Economics at the Oscar Arce told MNI. “We are still seeing the persistent effects of the chain of...
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Treasury Market Still Vulnerable-SEC's Ghamami
The U.S. Treasury market is still vulnerable to bouts of illiquidity and volatility although reforms like central clearing should help, says Samim Ghamami, an economist who is working on the issue at the Securities and Exchange Commission.
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MNI: Market Measures Steadier In Measuring r*-ECB Economists
Financial market-based measures and surveys proved more reliable than macroeconomic models at estimating the neutral real rate of interest during the abrupt economic fluctuations of the pandemic, European Central Bank economists told MNI, adding that r-star is now at similar levels to pre-Covid...
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Warsh Says Stubborn Inflation Won’t Stop Cuts
Former Fed board governor Kevin Warsh thinks the Fed's signaling of rate cuts this year prematurely loosened financial conditions, making its own job of bringing inflation back to 2% harder.
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Bank of Canada To Be Careful To Avoid U-Turn-Stillo
Former Ontario forecaster and Canada Director at Oxford Economics Tony Stillo says the central bank will want to avoid public backlash against any misstep towards lower interest rates, and says that will delay a rate cut until June and keep it well above neutral all year.
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Fed Patient On Cuts Amid Soft Landing-Carpenter
Federal Reserve officials will probably wait until midyear before lowering interest rates despite market hopes for cuts as early as March, as inflation data stay choppy in coming months before resuming a downward trend, former Fed board economist Seth Carpenter told MNI
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ECB Heading For Spring Cuts-Ex ECB Economist
The eurozone economy is likely to avoid recession, but inflation should slow sufficiently for the European Central Bank to reduce its benchmark deposit rate by around 150 basis points this year, former ECB economist Riccardo Trezzi told MNI. Markets are moving rapidly to price in cuts, noted...
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Markets Pricing In Too Many Fed Rate Cuts-Bullard
The Fed's next move is likely a cut but won't come until later in 2024 because policymakers must be totally sure inflation is not going to plateau around 3% or even reverse recent declines, former St. Louis Fed President James Bullard tells MNI.
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Darrell Duffie on expanding central clearing in US Treasury trades
Stanford Graduate School of Business professor Darrell Duffie cheers the SEC's expansion of mandated central clearing in U.S. Treasury trades, saying the landmark new rule will ultimately lead to a significant improvement in market liquidity.
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Wars and Sticky Prices Dent Trade Outlook- EDC Economist
Export Development Canada Chief Economist Stuart Bergman discusses how sentiment about the global economy has weakened and why companies still face difficulties with inflation.
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Fed Will Be Reticent To Lower Rates-Misra
The Federal Reserve will remain reluctant to cut interest rates too soon or too quickly lest it allow recent progress on inflation to reverse, Priya Misra of JP Morgan Asset Management tells MNI.
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Ex-KC Fed Chief George Says Hiking Over
The Federal Reserve is likely done raising interest rates as inflation continues a steady decline and policymakers worry about the lagged effects of past hikes, former Kansas City Fed President Esther George tells MNI.
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ECB To Include CPI Expectations In SAFE Survey
The European Central Bank hopes to publish a new series of questions about firms’ expectations for consumer price inflation as part of its Survey on the Access to Finance of Enterprises next year, and to increase the frequency of SAFE to quarterly from twice a year, ECB senior lead economist...
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Fed Still Grappling With Upside Inflation Risks-Raskin
The Federal Reserve could be done raising interest rates but only if the economy slows and inflation keeps cooperating, former New York Fed economist Matthew Raskin tells MNI. There's a good chance this will not happen in coming months, forcing the Fed to raise rates further, potentially to 6% or...
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Housing Tweak Affordable in Canada Update- Ex Budget Officer
Ahead of Canada's fall fiscal update, Institute of Fiscal Studies and Democracy President Page sees limited fiscal room even as Canada's finances outshine G7 peers. The government has shown little inclination to set genuine fiscal targets but appears on track for limited moves to tackle voter…
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ABOUT THIS SHOW
MNI FedSpeak - Unearthing fresh Fed policy thinking and market intelligence
HOSTED BY
Hosted by Pedro da Costa | Greg Quinn | Jean Yung
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How many episodes does MNI FedSpeak Podcast have?
MNI FedSpeak Podcast currently has 114 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
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MNI FedSpeak - Unearthing fresh Fed policy thinking and market intelligence
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MNI FedSpeak Podcast publishes regularly with 114 episodes available. Check the episode list for the typical release schedule.
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Who hosts MNI FedSpeak Podcast?
MNI FedSpeak Podcast is created and hosted by Hosted by Pedro da Costa | Greg Quinn | Jean Yung.
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