Behind The Markets Podcast: Jason Draho
Behind the Markets Podcast
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Is the Fed Overestimating the Global Neutral Rate?
There was an argument that as the global central bank, the global sort of neutral rate is less than it is in the US. We're kind of seeing that a little bit play out with the currency, the US dollar appreciating dramatically. It's going to spill back into the US. So I think the Fed has an idea of what is neutral in the US, but it may be overestimating that level on a global perspective. And we get a bit of a replay of what we happened in 2018 hopefully not.
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