Bloomberg Talks
Gary Cohn Talks Inflation, Fed and Tax Cuts
Jan 24, 2024
Gary Cohn, former US National Economic Council Director, discusses the normalization of the Fed cycle, the compounding effect of inflation, and why people feel bad despite a good economy. They also explore factors influencing economic sentiment, analyze economic data and tax cuts, and discuss the impact of 2017 tax cuts on the US economy, including misconceptions. Additionally, they delve into the potential implementation of a tariff wall and the significance of the electoral process.
13:44
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Quick takeaways
- Gary Cohn highlights the need to return to a more normal economic state with positive yield curves and risk premiums.
- Cohn emphasizes the impact of inflation on consumer psychology, urging consideration of its compounding effects on purchasing power and debt.
Deep dives
The Need to Return to Normal
The podcast episode discusses the importance of returning to normalcy in the United States economy after a period of abnormal monetary policies. The guest speaker, Gary Cohn, reflects on the pre-2008 financial crisis era when the Federal Reserve meetings did not dominate financial markets. He emphasizes that the current prolonged zero interest rate policy has led to increased risk-taking behavior as investors search for higher returns. Cohn believes that the country is now at the beginning of a transition back to a more normal economic state, characterized by positive yield curves and risk premiums.
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