Macro Hive Conversations With Bilal Hafeez

Liang Ding, a seasoned markets professional with two decades in portfolio management and economics, discusses the current state of China’s economy. He analyzes the impact of potential Fed rate cuts on global equity markets and explores the imbalance between supply and consumer demand in China. Liang highlights the government's efforts to boost consumer spending and the challenges posed by trade tensions and the EV market. He also shares personal anecdotes about Shanghai’s historical neighborhoods, blending economic insights with cultural reflections.

Álvaro Cartea, a Professor of Mathematical Finance at the University of Oxford and director at the Oxford-Man Institute, dives into the intersection of AI and financial markets. He discusses the evolution of AI trading strategies and the unintended consequences of AI market makers. Álvaro highlights the regulatory challenges posed by algorithmic trading and the risk of market manipulation by self-learning algorithms. He also compares the competitive atmospheres of prestigious universities, revealing how they shape future financiers.

Gary Gerstle, a renowned historian and author, dives into the dramatic shifts in American politics. He discusses Biden's possible withdrawal and what it means for Kamala Harris's candidacy, drawing parallels to the 1968 election. Gerstle also analyzes Trump's influence on the GOP and emerging factions within the party. The conversation explores changing political alignments, the threat of a second Trump term, and strategies for the Democrats to secure victory in 2024. Insightful and thought-provoking, his observations illuminate the current political landscape.

Dr. Pippa Malmgren discusses Trump's administration, importance of JD Vance and Robert Kennedy, threats to democracy, Project 2025, Deep Tech investments, and advice for young professionals in a changing work environment.

Global Chief Economist Philipp Carlsson-Szlezak and Senior Economist Paul Swartz from BCG discuss macroeconomic risks, false alarms on recessions, AI's impact on growth, and the resilience of global trade. They advocate for eclectic approaches over complex models, challenging the inflation debate, and analyzing the longevity of the US dollar as the world's reserve currency.

Shahin Vallée, a geopolitical expert, discusses the aftermath of the French election, potential second round scenarios, challenges in forming a government, and the impact of fiscal policy challenges. He also delves into the dynamics of the French and German political systems, and provides insights on post-election policy timing and book recommendations.

Boris Vladimirov from Goldman Sachs discusses late cycle dynamics, concerns about China, impact on Europe, and the US exceptionalism. They also cover the potential economic implications of the US elections, rise of far-right in European elections, and the transformative impact of AI in education and job markets.

Vasileios Gkionakis, Head of Europe Economics and Strategy at Aviva Investors, discusses UK election impact, BoE cuts, European mortgage rates, European election fallout, currency markets, shift towards active fiscal policy post-COVID, and influential books on philosophy and decision-making.

George Selgin, Senior Fellow at Cato Institute, and Professor Emeritus, delves into Fed's post-crisis changes, abundant reserves policy impact, inflation management post-covid, and recommendations on old books in monetary economics.

Jason Furman, former economic adviser to President Obama, discusses inflation persistence post-COVID, challenges in policymaking vs. academia, and the impact of Federal Reserve policies on the economy and climate change.