San Francisco Fed President Mary Daly Explains the 'Hawkish Cut'
Odd Lots23 Des 2024

San Francisco Fed President Mary Daly Explains the 'Hawkish Cut'

Last week, the Federal Reserve cut benchmark rates by 25 basis points, but simultaneously signaled a slower pace of cuts for next year. The guidance surprised markets and sparked a selloff in both stocks and bonds as traders adjusted to the new forecast. So what made the Fed change its stance? And where do the balance of risks to the economy lie right now? In this episode, we speak with Federal Reserve Bank of San Francisco President Mary Daly about how she's viewing the outlook for both inflation and the labor market. We also talk about the impact of AI on productivity, and how she's thinking about the potential impact of new policies from the incoming Trump administration.

Read More:
Fed’s Daly Says She’s ‘Very Comfortable’ With Two 2025 Rate Cuts
Powell Signals Fed’s Focus Has Returned Firmly to Inflation

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Episoder(1192)

Daniel Yergin Sees a 'Different World' Emerging After the Hormuz Crisis

Daniel Yergin Sees a 'Different World' Emerging After the Hormuz Crisis

When it comes to the history of oil and energy, nobody is more famous or well respected than Daniel Yergin. He is the Vice Chairman of S&P Global, and the Pulitzer Prize winning author of both The Pri...

22 Apr 45min

Brad Jacobs on His Big Bet on Building Insulation

Brad Jacobs on His Big Bet on Building Insulation

He's done it again. On Sunday night, building supply company QXO announced that it would be acquiring TopBuild for $17 billion. TopBuild sells and installs insulation for both the residential and comm...

21 Apr 40min

Jack McClendon on Why It's So Hard to Create a New American Oil Boom

Jack McClendon on Why It's So Hard to Create a New American Oil Boom

The White House wants gasoline prices to be lower, and it wants to see American oil companies drill for more oil. But of course, these ideas are in tension. If prices are going lower, why drill more? ...

20 Apr 46min

Alex Imas on Why Economists Might Be Getting AI Wrong

Alex Imas on Why Economists Might Be Getting AI Wrong

Everyone knows that new technologies can be really disruptive to the labor market, but eventually new jobs emerge and things come back into balance. And there is a sense in which many view AI with the...

18 Apr 47min

Planet Money Turned Everyday Annoyances Into an Economics Book

Planet Money Turned Everyday Annoyances Into an Economics Book

There are a lot of things to be annoyed about in modern life. The high cost of food and housing and childcare. Dating apps that don't seem to work. The fear of AI replacing you at your job. These are ...

17 Apr 39min

Brad Setser on the War in Iran and the Future of the US Dollar

Brad Setser on the War in Iran and the Future of the US Dollar

It's possible that the war in Iran could reshape financial flows in significant ways. Perhaps the Gulf states will end up as less desirable places to do business. Perhaps Iran will have a tollbooth at...

16 Apr 51min

War in Iran Is Already Reshaping East Asia's Energy Future

War in Iran Is Already Reshaping East Asia's Energy Future

The war in Iran has caused the price of all kinds of commodities to surge, and that has a negative economic impact almost everywhere. But the squeeze is really being felt hard in East Asia, which is t...

15 Apr 37min

Presenting What Next TBD: Why Everyone is Freaking out About Private Credit

Presenting What Next TBD: Why Everyone is Freaking out About Private Credit

It's fueling the A.I. bubble, it's coming to your retirement portfolio—and it's flashing a lot of warning signs right now.In the wake of the 2008 financial crisis, private credit or “shadow banking” g...

14 Apr 37min

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