Odd Lots

Liz Truss, the former Prime Minister of the UK and author of '10 Years to Save the West', shares her insights on the UK's precarious fiscal situation. She reflects on her short-lived time in office and discusses the challenges of tax and spending. Truss critiques current economic strategies and advocates for reforms, especially regarding the Bank of England's independence. She also touches on the implications of Brexit, the state of free speech, and how political dynamics shape economic policies in Britain.

Lev Menand, a Columbia Law Professor and author of 'The Fed Unbound', discusses President Trump's controversial attempt to fire Fed Governor Lisa Cook, which raises alarms about central bank independence. He explains the legal complexities of 'for cause' dismissals and argues that unproven allegations shouldn't justify such actions. The conversation delves into how this move could reshape the relationship between presidential power and independent agencies, highlighting the risks of political influence on monetary policy and the implications for market dynamics.

In this engaging conversation, Adam Posen, President of the Peterson Institute for International Economics and former member of the Bank of England's Monetary Policy Committee, delves into the surreal atmosphere of the Jackson Hole symposium amidst attacks on Fed Chairman Jerome Powell. He discusses the threats to central bank independence and critiques Trump's trade policies. Posen also addresses the complexities of tariffs and their impacts on U.S. manufacturing, inflation, and global credibility, shedding light on the evolving economic landscape.

Tom Barkin, President and CEO of the Federal Reserve Bank of Richmond, shares insights on today's complex economic landscape. He discusses the challenges central banks face, particularly in navigating labor market shifts and inflation pressures. Barkin emphasizes the less clear playbook for monetary policy right now, detailing the impact of improved supply chains on inflation and the cautious optimism emerging from consumer spending. He also reflects on the intersection of social responsibility and manufacturing, particularly in North Carolina's economic context.

Austan Goolsbee, President of the Federal Reserve Bank of Chicago and former Chairman of the Council of Economic Advisers, shares his insights on the current economic landscape. He expresses concern about lingering inflation, particularly in the services sector, while showing confidence in the strength of the labor market. Goolsbee discusses the complexities of monetary policy amidst expectations of interest rate cuts and the nuanced relationship between tariffs and inflation. His perspective sheds light on the ongoing challenges facing economic decision-makers.

Michael McKee, Bloomberg TV's economics correspondent and a seasoned attendee of Jackson Hole meetings, breaks down the recent Fed speech by Jerome Powell, which surprised markets with hints of a rate cut. He discusses Powell's focus on labor market risks versus inflation concerns. McKee also reflects on how Jackson Hole has evolved over the years and speculates on potential candidates to succeed Powell. The conversation brings a mix of serious economic insights and personal anecdotes from the iconic symposium.

Jeffrey Schmid, President and CEO of the Federal Reserve Bank of Kansas City, shares insights on the upcoming Jackson Hole Economic Symposium. He discusses the official theme of this year's event and the growing political pressures on the Fed. The conversation highlights challenges in the labor market, the impact of AI on productivity, and the evolving dynamics of interest rates. Schmid delves into the Fed's independence and how it shapes long-term economic outcomes, emphasizing the importance of timely research in a climate of inflation and market highs.

David Johnson, managing principal at Resolution Financial Advisors, specializes in assisting companies with insolvency. He explains the often-overlooked process of winding down a startup and maximizing asset value through fire sales. Johnson shares humorous tales, including a bizarre case where he had to find buyers for human skulls from a startup’s inventory. The conversation also dives into the complexities of navigating bankruptcies, highlighting the urgency in monetizing distressed assets and the unique challenges that arise during liquidation.

Deven Mitchell, CEO, and Marcus Frampton, CIO of the Alaska Permanent Fund, discuss the unique dynamics of the only sovereign wealth fund in the U.S. They delve into the fund's origins, driven by Alaska's oil boom, and its vital role in supporting the state's budget with annual resident dividends. The duo shares insights on adapting investment strategies amidst fluctuating oil prices and the legal complexities tied to fund management. They also explore Alaska's potential as a renewable energy hub, emphasizing sustainable stewardship for future generations.

In this engaging conversation, Daniel Delfino, Jimmy Ord, and Stacy Barnes from the Alaska Housing Finance Corporation dive into the puzzling housing crisis in Alaska despite a declining population. They explore the unique obstacles posed by environmental conditions and local regulations that hinder housing availability and affordability. The trio discusses the complexities of Anchorage’s housing market, unexpected trends in vacancies, and the importance of community collaboration. They also shed light on innovative solutions tailored to meet these challenges head-on.