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May 22, 2024
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we know christopher waller, he's quite hawkish, and he wants to wait. he's urging investors to wait, and patience is a virtue essentially. we're back to the same story we were at before. even if we got a softer than expected ci last week, thit's still going to be data dependent. >> yeah, exactly. i gave a c plus grade. the c stands for cautious, not confident, where the ecb is more confident. we're seeing this divergence open up between the banks. the bank of japan is doing steady normalization. the ecb is set to cut in june. like we discussed, the june cut is going to be delayed. all of this creates interesting opportunities for macro investors. we've had several upside investors, but we've had four downside surprises, and so it actually argues for performance in canadian, swedish rates. it's a very opportunistic environment. >> i want to pick up when it came to the fx phase. people were really sitting on their hands. do you see more volatility coming back here because we're seeing that divergence between the big central banks of the world. you say the
we know christopher waller, he's quite hawkish, and he wants to wait. he's urging investors to wait, and patience is a virtue essentially. we're back to the same story we were at before. even if we got a softer than expected ci last week, thit's still going to be data dependent. >> yeah, exactly. i gave a c plus grade. the c stands for cautious, not confident, where the ecb is more confident. we're seeing this divergence open up between the banks. the bank of japan is doing steady...
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May 23, 2024
05/24
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larry: christopher waller, center of gravity on the board, appointed during trump administration.said for a while, the evidence on inflation is not good enough to cut rates, i think people should listen to him you know why, because other fed governors and presidents listen to him. >> a list of treatment tranner to -- team transitory. joe biden, janet yellen insured us that inflation was a passing thing. larry: larry summers, and credit. >> they -- >> summers called this spending bill in 2021 of march, he calls it original sin of inflation. >> larry and (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. larry: an interesting topic former president trump campaign is betting big on crypto. they are taking contributions in form of crypcrypto currency we bring in vivek ramaswamy. all good things in life, welcome back. start with you on crypto story it is modern, current and
larry: christopher waller, center of gravity on the board, appointed during trump administration.said for a while, the evidence on inflation is not good enough to cut rates, i think people should listen to him you know why, because other fed governors and presidents listen to him. >> a list of treatment tranner to -- team transitory. joe biden, janet yellen insured us that inflation was a passing thing. larry: larry summers, and credit. >> they -- >> summers called this...
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May 22, 2024
05/24
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larry: christopher waller, center of gravity on the board, appointed during trump administration.said for a while, the evidence on inflation is not good enough to cut rates, i think people should listen to him you know why, because other fed governors and presidents listen to him. >> a list of treatment tranner to -- team transitory. joe biden, janet yellen insured us that inflation was a passing thing. larry: larry summers, and credit. >> they -- >> summers called this spending bill in 2021 of march, he calls it original sin of inflation. >> larry and jason have shown great inti greaty. sup? -who are you? i'm your inner child. get in. listen, what you really need in life is some freakin' torque. what? horsepower keeps you going, but torque gets you going. what happened to my inner child craving love and acceptance? how about you love and accept this? p-p-p-p-powershot! when can i drive? you already are! the dodge hornet r/t... the totally torqued-out crossover. ♪(song in french)♪ (♪) (♪) (♪) (♪) book in the hotels.com app to find your perfect somewhere. (luke) so... i hear some o
larry: christopher waller, center of gravity on the board, appointed during trump administration.said for a while, the evidence on inflation is not good enough to cut rates, i think people should listen to him you know why, because other fed governors and presidents listen to him. >> a list of treatment tranner to -- team transitory. joe biden, janet yellen insured us that inflation was a passing thing. larry: larry summers, and credit. >> they -- >> summers called this...
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May 21, 2024
05/24
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fed governor christopher waller speaks with cnbc at 1:00 p.m. >>> let check on the nvidia earnings. on the s&p 500 responsible for one-third of the first quarter earnings growth. there are expectations for big swings when it comes to the stock. nvidia options data suggests a 9% move in either direction. that 9% move would translate to a market cap move of $200 billion to the upside or down side. that is bigger than the market cap of 90% of the companies in the s&p 500. for more, let's bring in amy wu silverman at rbc capital markets. amy, good morning. >> good morning, frank. >> loot to talk about here. i want to get your take. we talked about the data letter wit alert. the 9% swing. are investors preparing for that move? what steps are they taking? >> they absolutely are. we have seen better breadth in the market, frank. we know if tech goes, the market goes and all eyes on nvidia with the concentration and what it means for the a.i. wave. the super interesting thing is the way options investors are positioned right now is different from past cycles where they simply were long call
fed governor christopher waller speaks with cnbc at 1:00 p.m. >>> let check on the nvidia earnings. on the s&p 500 responsible for one-third of the first quarter earnings growth. there are expectations for big swings when it comes to the stock. nvidia options data suggests a 9% move in either direction. that 9% move would translate to a market cap move of $200 billion to the upside or down side. that is bigger than the market cap of 90% of the companies in the s&p 500. for...
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May 22, 2024
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i want to get your expectations on the fed and recently the kmebtss from christopher waller who was on air yesterday. >> i don't think there's a lot of upside risk. like i said, things could change. rate hikes could be on the table under some scenarios of the world. right now i don't think that's the case. then if we get enough data going to right way, then we can think about cutting rates later this year, beginning of next year. >> all right, robert, you heard what he said. basically it double hurt to wait and see. >> i think the market and the fed have had a different interpretation on inflation. the market's gotten comfortable with the fact that inflation is not headed higher and the fed is in the mode of not waiting to cut. there's a little bit of a disconnect there. the good news is the tail risks have mostly been removed. so with the latest inflation numbers, we're starting to get a bit more comfortable. that's great for both the fed and markets. so we've entered sort of the zone of stability, if you will, where inflation has been stuck a bit, but certainly not headed higher. mar
i want to get your expectations on the fed and recently the kmebtss from christopher waller who was on air yesterday. >> i don't think there's a lot of upside risk. like i said, things could change. rate hikes could be on the table under some scenarios of the world. right now i don't think that's the case. then if we get enough data going to right way, then we can think about cutting rates later this year, beginning of next year. >> all right, robert, you heard what he said....
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May 21, 2024
05/24
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waller hints inflation could hold rates higher for longer. >> after a run of great data in the latter half of 2023 it seemed significant progress on inflation continue and rate cuts were not far off which however, the first 3 months of 2024 through cold water on that outlook as data on both inflation and economic activity came in much hotter than anticipated. >> we may be looking at a september rate cut, depends on inflation which president biden blames on corporations. in a memo obtained by fox business by demonstration officials say major corporations, many seeing record profits overcharged the american people, in some cases keeping prices elevated despite the inflation falling, president biden is taking unprecedented action to deliver relief for middle-class families, depending on the time of the past 3 years, they were very different causes to inflation. >> look, the pandemic was happening, right? that caused inflation, that was happening. supply chain was breaking our economy, it wasn't just us, wasn't just us. it was globally. >> reporter: from this perspective everything else c
waller hints inflation could hold rates higher for longer. >> after a run of great data in the latter half of 2023 it seemed significant progress on inflation continue and rate cuts were not far off which however, the first 3 months of 2024 through cold water on that outlook as data on both inflation and economic activity came in much hotter than anticipated. >> we may be looking at a september rate cut, depends on inflation which president biden blames on corporations. in a memo...
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May 22, 2024
05/24
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christopher waller said this, quote, several months of good inflation data we need before lowering rates. if the data were to continue softening throughout the next three to five months, you can even think about doing a cut at the end of this year. that's after the election. but the fed's annual economic well-being of u.s. households survey for 2023 found more than one-third of respondents cited inflation as the biggest financial target, a number of households reporting they're paying nearly as much on child care as they did on housing, mario. >> it's astonishing. if we look what waller said, he said what everyone was thinking. when cpi came out last week we were in line with expectations, right. cpi came in slightly lower and it was as if rainbows and butterflies were all in the air. so fed waller, what he stated, i 100% agree with and at the end of the day, what is a pattern? a pattern is repetitive action and in order to have repetitive action we need repetitive data of lower inflation. not just a one-off report. we need consecutive months for the fed to lower. and look, we talked abo
christopher waller said this, quote, several months of good inflation data we need before lowering rates. if the data were to continue softening throughout the next three to five months, you can even think about doing a cut at the end of this year. that's after the election. but the fed's annual economic well-being of u.s. households survey for 2023 found more than one-third of respondents cited inflation as the biggest financial target, a number of households reporting they're paying nearly as...
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May 22, 2024
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the center of intellectual gravity on this board is a fellow named christopher waller.e was appointed during the trump administration. i had something to do with that. he has said for a while the evidence on inflation is not good enough to cut rates and i think people should listen to him. you know why? because other fed governors and presidents listen to him. i will give you last word. >> make a list of the team transitory, right? larry: yeah. >> joe biden, janet yellen, paul krugman and all sorts of eminences, inflation was passing thing, don't need to worry about it. larry: i have to give larry summers, two democrats, jason furman, larry summers. >> they have great integrity. larry: summers called the spending bill in 2021 of march, the 1.9 trillion, summers calls that the original sin of inflation. >> yeah. larry: i think he was dead right. >> larry and jason have shown great integrity. larry: i agree. todd buchholz, very good to see you. >> good to see you, larry. larry: taylor riggs, thanks for helping it. be sure to catch taylor along with her co-hosts brian bren
the center of intellectual gravity on this board is a fellow named christopher waller.e was appointed during the trump administration. i had something to do with that. he has said for a while the evidence on inflation is not good enough to cut rates and i think people should listen to him. you know why? because other fed governors and presidents listen to him. i will give you last word. >> make a list of the team transitory, right? larry: yeah. >> joe biden, janet yellen, paul...
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May 22, 2024
05/24
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christopher waller saying softening dates are in the next few months. also urging patients..m. eastern time. to have the very best joining us now. can i come to you first commissary? i want to get your review of the assessment from governor waller yesterday. given that inflation print, ac plus grade. would you give it the same grade? >> d-or c++. it is coming down. i think we will continue to see that as we go forward. the sticky part has been inflation and what we know about housing prices. you are going to continue to see disinflation there. when you look at the age growth, we saw this in the earnings print last month. only up 0.2%. you annualize that and we are below 3% right now. it is all pointing in the direction of moving forward. >> we host for the speech and i think what was striking was that he was trying to put a dovish spin on what was actually a pretty hawkish message. he basically said, i have to see real slowing in the u.s. economy before i want to cut. he ridiculed the fact that they are pursing out the second decimal place on the inflation privilege. i thoug
christopher waller saying softening dates are in the next few months. also urging patients..m. eastern time. to have the very best joining us now. can i come to you first commissary? i want to get your review of the assessment from governor waller yesterday. given that inflation print, ac plus grade. would you give it the same grade? >> d-or c++. it is coming down. i think we will continue to see that as we go forward. the sticky part has been inflation and what we know about housing...
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May 21, 2024
05/24
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stocks, blah, blah, and then i saw christopher walken. >> and then i realized is christopher, what waller part of our banking system. he said don't expect inflation to come down any too fast. he wants to wait. so we're not going to that interest rate cut according to him. but there's multiple governors from multiple regions of the country. but if you want to pretend talks like christopher walken, i don't mind you know, ok, then let's >> go to the next thing, which got me speaking of the way, people talk is it looks like a i may have stolen the voice of her and buy her. i don't mean, you know, the big bay area singer her, you know who she is. talk about scarlet johansen from the movie her. yeah. >> the 2013 movie her where she played the voice of a digital assistant. it has a very dark turn at the end. pretty good movie. my opinion. i think it was keen phoenix and it is welcome that just about the fear of how we're lighting technology in our lives. saml men from open ai austin is checked. she bet is that big product? he he loved that movie and he asked you know, 6, 7, months ago. can we us
stocks, blah, blah, and then i saw christopher walken. >> and then i realized is christopher, what waller part of our banking system. he said don't expect inflation to come down any too fast. he wants to wait. so we're not going to that interest rate cut according to him. but there's multiple governors from multiple regions of the country. but if you want to pretend talks like christopher walken, i don't mind you know, ok, then let's >> go to the next thing, which got me speaking of...
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May 22, 2024
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another person giving thoughts on the matter of inflation was christopher waller who talked about inflation and trends that he saw at a recent event in washington dc. here is a portion of the event from yesterday. [video clip] >> after six months of decent data we got a shock in january. a huge price increase. there was a lot of discussion. it is seasonal. it is temporary. it is the beginning of the year. a bunch of factors. driven by a big input of prices no one was expecting. it was thought that it will disappear after a month. february didn't quite disappear. and then the story was, well some of it is bleeding through. it will be fine. in march, you know -- at some point after three months it cannot be a temporary seasonal thing. there is something more fundamental going on making inflation a little stickier. we saw at the end of last year. that was after the march data. we were concerned that this wasn't going the way we thought it was going to go. this last month, the key thing for me is that it's showing that inflation is not accelerating. we can rule that out. in january we didn't kn
another person giving thoughts on the matter of inflation was christopher waller who talked about inflation and trends that he saw at a recent event in washington dc. here is a portion of the event from yesterday. [video clip] >> after six months of decent data we got a shock in january. a huge price increase. there was a lot of discussion. it is seasonal. it is temporary. it is the beginning of the year. a bunch of factors. driven by a big input of prices no one was expecting. it was...
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May 23, 2024
05/24
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. >> we did hear those notes struck by christopher waller of the fed taking some comfort in some of these guess i'm reminded of what people were saying, like, late last year when they didn't believe the soft landing thesis, which was it always looks like a soft landing on the way to a downturn you're decelerating from strong growth to something not so great, what we look for to know if we're going to stop short of something troublesome. >> it is a great callout we think the goldilocks scenario is still a base case, but probably one of the bigger tail risks is do we go more quickly into something deeper or more prolonged in the economy and certainly what we're watching is one, the labor market we have seen unemployment rates still 3.8, 3.9%, near multidecade lows, but if you look at things like job openings moving lower, those are leading indicators of the labor economy, they are pointing to softening ahead. we look at the consumer not only retail sales where we're looking at things like credit card debt levels elevated, some signs that the delinquencies are picking up as well, all of thos
. >> we did hear those notes struck by christopher waller of the fed taking some comfort in some of these guess i'm reminded of what people were saying, like, late last year when they didn't believe the soft landing thesis, which was it always looks like a soft landing on the way to a downturn you're decelerating from strong growth to something not so great, what we look for to know if we're going to stop short of something troublesome. >> it is a great callout we think the...