Kitco News, Released on 10/2/24

Jeremy Szafron, Anchor at Kitco News, interviews Daniel Lacalle, Chief Economist at Tressis, for about the latest European Central Bank (ECB) developments and their global impact. Lacalle examines the risks posed by potential ECB rate cuts as inflation falls below 2% for the first time in years, while core inflation remains stubbornly high. He warns that a premature move could lead to stagflation in several Eurozone countries. Lacalle also dives into the broader macroeconomic landscape, exploring how global geopolitical risks, such as the ongoing tensions in the Middle East, are affecting energy markets and inflation worldwide.

00:00 – Introduction
01:25 – US Job Growth, Wage Stagnation, and Rising Consumer Debt
03:16 – Is US Debt Manageable in the Current Economy?
05:00 – Core Inflation Concerns and Energy Prices
07:00 – Impact of Iran-Israel Conflict on Global Oil Prices
09:30 – Is the Commodities Super Cycle Returning?
12:15 – ECB Rate Cuts: Risks of Stagflation in Europe
16:45 – China’s Stimulus and Real Estate Market Challenges
20:30 – Global Slowdown and Impact on Commodities
24:45 – Investment Opportunities in Gold, Commodities, and Hard Assets

Daniel Lacalle, PhD, economist and fund manager, is the author of the bestselling books Freedom or Equality (2020) and Escape from the Central Bank Trap (2017). He is a professor of global economy at IE Business School in Madrid and Chief Economist at Tressis SV. Ranked as one of the top twenty most influential economists in the world in 2016 and 2017 by Richtopia, he holds the CIIA financial analyst title, with a postgraduate degree in higher business studies and a master’s degree in economic investigation. He is a member of the advisory board of the Rafael del Pino Foundation and Commissioner of the Community of Madrid in London. His work can be found here.

  Daniel Lacalle, economy, inflation, stagflation