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The Macro Trading Floor
Dario Perkins: These Central Banks Better Pivot Fast
Mar 22, 2024
Dario Perkins and Alf discuss how Central Bankers have been lucky rather than skilled in managing inflation and labor markets. They explore the impact of supply chain disruptions on real incomes and vulnerabilities in labor markets. The podcast also examines the cautious approach of central banks and the disconnect between market sentiment and economic indicators.
36:46
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Quick takeaways
- Central Banks maintain dovish stance despite inflation projections, supporting risk markets.
- Resilient labor markets counter private sector vulnerabilities, aided by real income rise and global rebound.
Deep dives
Overview of Federal Reserve Meeting Outcome
The Federal Reserve Meeting outcome was a key focus with discussions revolving around the 2024 dot plot. Despite higher core PCE inflation projections, the Federal Reserve maintained three cuts in 2024, signaling a proactive dovish stance. This decision was seen as supportive for risk markets, although projections for 2025 and 2026 showed upward revisions, indicating confidence in a structurally stronger US economy.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode