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Macro Hive Conversations With Bilal Hafeez
Ep. 254: Jonny Matthews on US Economy and Why the Fed Will Not Cut in 2025
Feb 7, 2025
Jonny Matthews, Senior Portfolio Manager at Fortem Capital and creator of SuperMacro, shares his journey from engineering to finance and insights from his time at Salomon Brothers and Brevan Howard. He discusses the potential for low growth and high inflation in 2025, the challenges facing the S&P 500, and AI's impact on productivity and equity returns. Matthews also analyzes global economic conditions in Germany, Japan, and China while offering practical advice for aspiring finance professionals navigating today's complex market landscape.
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Quick takeaways
- Jonny Matthews emphasizes the importance of adaptability and perseverance in finance, illustrating this through his unconventional career journey into the industry.
- He warns that tariff pressures can undermine the strong U.S. economy by increasing costs while expressing caution regarding the Federal Reserve's monetary policy.
Deep dives
Journey into Finance
Johnny Matthews' path into finance was not straightforward. He studied engineering at Imperial College before realizing his passion for finance and subsequently pursuing a master's degree in the field. Initially working at British Aerospace, he eventually joined Salomon Brothers, where he thrived in the competitive environment of trading. His entry into finance illustrates how unexpected career trajectories can lead to success in the industry, emphasizing perseverance and adaptability.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode