Blockworks Macro, Released on 11/3/22 (Recorded on 11/2/22)

Shortly after Fed Chair Jay Powell’s press conference on November 2nd, 2022, Jim Bianco of Bianco Research and Joseph Wang, former senior trader for the New York Fed, join Jack Farley to share their thoughts from the November Federal Open Market Committee (FOMC) meeting.

00:00 Introduction
00:42 General Thoughts on The November FOMC Meeting
04:48 New Sentence On Monetary Policy Acting With A Leg
12:57 Strong Labor Market
19:44 Why Should The Fed Not Hike By 75 Basis Points in December?
23:29 Powell’s Yield Curve Is About To Invert
31:05 Is A Soft Landing Still Possible?
43:38 A Treasury Buyback Program Is NOT Coming to Rescue The Bond Market (At Least In 2022)
51:42 A Financial Accident Is Getting More And More Likely

Jim Bianco is President and Macro Strategist at Bianco Research, L.L.C. Since 1990 Jim’s commentaries have offered a unique perspective on the global economy and financial markets. Unencumbered by the biases of traditional Wall Street research, Jim has built a decades long reputation for objective, incisive commentary that challenges consensus thinking. In nearly 20 years at Bianco Research, Jim’s wide ranging commentaries have addressed monetary policy, the intersection of markets and politics, the role of government in the economy, fund flows and positioning in financial markets. Prior to joining Arbor and Bianco Research, Jim was a Market Strategist in equity and fixed income research at UBS Securities and Equity Technical Analyst at First Boston and Shearson Lehman Brothers. He is a Chartered Market Technician (CMT) and a member of the Market Technicians Association (MTA). Jim has a Bachelor of Science degree in Finance from Marquette University (1984) and an MBA from Fordham University (1989).

  economy, Fed, fed pivot, inflation, interest rates, Jim Bianco, recession