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EssentialThe Essential Conversation

Can the Fed Do Anything But Fail?

Featuring Thomas Hoenig and Harry Melandri

Sep 19, 2022 • 40 minutes

Essential

The Essential Conversation

Can the Fed Do Anything But Fail?

The longest-serving Fed president warns of the risks of withdrawing from the excess of the QE era.

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Featuring Thomas Hoenig and Harry Melandri

Sep 19, 2022 • 40 minutes

With the September Federal Open Market Committee meeting this week in the aftermath of the August Consumer Price Index data coming in hotter than expected last week, investors are now 100% certain of a 75-basis-point rate hike come Wednesday. Risks for the Fed run both ways: It could tighten the economy into deep recession, or it could prematurely pivot and let inflation run its own elevated course. Dr. Thomas Hoenig, the longest-serving Federal Reserve Bank president in history, joins MI2 Partners’ Harry Melandri to unpack the factors the central bank faces as it considers next steps in its policy program, including quantitative tightening. Dr. Hoenig, who led the Kansas City Fed for 20 years, was vice-chair of the FDIC from 2012 to 2018, and is now a distinguished senior fellow at the Mercatus Center, compares present circumstances to the 1970s, identifying mistakes the Fed must avoid repeating this time around. As Dr. Hoenig and Harry discuss, the institution’s long-term credibility is at stake. Recorded on September 14, 2022.

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The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

The Essential Conversation is the world's premier financial-market-focused conversation series. The smartest people in markets, finance, economics, and business engage in deep-diving discussions about the global macro landscape, generating actionable takeaways that can help your decision-making process. Tune in to peer-to-peer conversations between the brightest minds in the investing world, and tune up your portfolio.

More Episodes

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