This year has been about fighting inflation. Next year will be about accepting a slightly higher structural inflation print. That’s Christophe Ollari’s basic framework for viewing the economy and markets right now. In this engaging conversation between two great macro minds, the founder of Ollari Consulting tells Raoul he’s never seen a more challenging year than 2022 for investors. But he’s more optimistic about 2023. Christophe and Raoul talk about when the Fed might pivot, what happens in China, and why Russia’s war in Ukraine led to the “most powerful development in the crypto world.” They also survey a variety of asset classes – and Christophe reveals what he thinks will be the next big trade. It’s been two years since Raoul caught up with Christophe, and you’ll definitely want to know how the past 24 months have re-shaped his thinking and what he anticipates happening next. Recorded on October 31, 2022. Editor’s Note: We’re aware of the low quality of Christophe’s video feed, and we apologize for it. Christophe’s camera and connectivity are beyond our control, but the substance of this interview is so important that we want to bring it to you regardless.