Lundy Wright joins G3 to discuss the FOMC’s latest policy meeting in this week’s episode, recorded on Wednesday, November 1st. In their wide-ranging discussion, Lundy and G3 discuss the Fed’s policy statement and Fed Chair Jerome Powell’s press conference. They also discussed recent economic data and why Lundy believes that 10-year yields are headed higher.

Please check important disclosures at the end of the podcast.

Timestamps:

• What is the significance of the Fed updating its statement to include a mention of tighter financial conditions? [3:05 ]
• Why do central bankers seem to ‘whipsaw’ the markets on purpose? [9:48 ]
• What risky bet is both the Fed and Treasury making right now? [17:55 ]
• Does Lundy think that yield curve control will be implemented eventually? [21:53 ]
• Why does Lundy believe that the longer end of the curve will sell off further? [27:24 ]

Resources:

• Fed Chair Jerome Powell and Philadelphia Fed President Harker visit York, Pa (video)
• $7.6 trillion of US government debt will mature in the next year
• The Atlanta Fed’s GDPNow

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