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EssentialThe Essential Conversation

The Inflation Fairy Tale

Featuring Jeffrey Snider and Steven Van Metre

Oct 07, 2020 • 91 minutes

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Essential

The Essential Conversation

The Inflation Fairy Tale

Is inflation on the horizon? Should bank reserves stored with the Federal Reserve count as "money"? Jeff Snider and Steven Van Metre say no.

Featuring Jeffrey Snider and Steven Van Metre

Oct 07, 2020 • 91 minutes

Is inflation on the horizon? Should bank reserve balances stored with the Federal Reserve count as "money"? According to Jeffrey Snider, head of global research at Alhambra Investment Partners, and Steven Van Metre, macro fund manager and founder of Portfolio Shield, the answer to these questions is a resounding "no." Drawing upon a data ranging from Treasury auction sales to Eurodollar futures curves, van Metre and Snider explain why low yields are, in fact, deflationary -- contrary to conventional wisdom. They pull no punches as they describe the "zero lower bound trap" that the Federal Reserve now faces, drawing upon their research into Japan. Lastly, Snider and van Metre analyze the March spike in Treasury prices and explore whether the funding pressures are over or if March was just a preview of what is to come. Filmed on October 5, 2020. Show More

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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