Bloomberg Surveillance
Single Best Idea with Tom Keene: Ed Hyman and Paul Donovan
Apr 17, 2024
Economists Ed Hyman and Paul Donovan discuss the Fed's strategies and the differences in economic philosophies between the US and Britain. They also delve into market economics, credit spreads, and yield curves as indicators of potential recessions.
07:10
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Quick takeaways
- Paul Donovan criticizes Powell Fed for lack of clear philosophy and using unreliable real-time data.
- Ed Hyman highlights importance of understanding market indicators like credit spreads tightening.
Deep dives
Paul Donovan's Critique of the Powell Fed
Paul Donovan from UBS criticizes the Powell Fed for lacking a clear philosophy and medium-term framework in its policy decisions. Donovan highlights issues with using unreliable real-time data and focusing on superficial analysis, leading to unnecessary market volatility. He contrasts the British approach of considering short-term, medium-term, and long-term perspectives in economics with the American emphasis mainly on short and long terms.
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