Supply Shock
The Interest Rate Shock Hasn't Been Felt Yet | Cameron Dawson
Sep 6, 2023
Cameron Dawson, Chief Investment Officer at NewEdge Wealth, joins the show to discuss the impact of higher interest rates. They analyze Powell's shifting stance, factors behind the resilience of US economic growth, implications of credit card debt, Federal Reserve priorities, and compare earnings of Apple and Nvidia.
50:42
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Quick takeaways
- Powell's transition from dove to hawk during the 2022 Jackson Hole speech didn't result in expected negative impacts, but he still maintains a dovish sentiment and is becoming more accommodative.
- Factors contributing to resilient growth include rebalancing after COVID, significant fiscal support, and credit card debt remaining below pre-pandemic levels as a percentage of disposable income.
Deep dives
Powell's Transition from Dove to Hawk
Cameron Dawson discusses Powell's transition from a dove to a hawk during the 2022 Jackson Hole speech. Powell warned of pain and sacrifice to fight inflation, but the expected negative impacts, such as job losses and low income growth, didn't materialize. Despite this, Powell still expresses a dovish sentiment and is shifting towards being more accommodative.
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