Macro Mondays #13 - The Rasputin Effect - Guest: Michael Cembalest, J.P. Morgan
Sep 2, 2023
Michael Cembalest of J.P. Morgan discusses The Rasputin Effect, the US labor market, fiscal policy, interest rates, and the impact of the Chips Act and IRA. The podcast also explores the projection of US tax revenue being consumed by entitlements and interest. Economic challenges for Europe and China are also analyzed, along with discussions on adjustments, establishing a floor, and transparency.
Chapters
Transcript
Episode notes
1 2 3 4 5 6
Introduction
00:00 • 2min
The Service Sector as a Leading Indicator of Labor Market Decline
02:16 • 19min
The Impact of Industrial and Fiscal Policy on the US Economy
21:27 • 3min
Projection of US tax revenue being consumed by entitlements and interest, and the state of the global economy
24:13 • 3min
Economic Implications for Europe and China
26:54 • 9min
Discussion on Adjustments, Establishing a Floor, and Transparency
35:32 • 2min