When Will The Fed Cut Rates? Will Economy Crash Before Pivot? Economist Steve Hanke Answers

The David Lin Report, Released on 6/11/24 (Recorded on 6/10/24)

Economist Steve Hanke, Professor of Applied Economics at Johns Hopkins University, discusses why the Federal Reserve is staying put on rates while other central banks have been cutting. He forecasts when the Fed is likely to pivot, and what will happen to the economy before then.

0:00 – Intro
0:40 – Labor market recap
4:47 – Deflation vs. inflation
10:06 – Fed policy outlook
14:50 – 2% inflation target
25:09 – Debt maturing
28:48 – Dedollarization
35:30 – Ukraine war

Steve Hanke is an American applied economist at the Johns Hopkins University in Baltimore, Maryland. He is also a senior fellow and director of the Troubled Currencies Project at the libertarian Cato Institute in Washington, DC, and co-director of the Johns Hopkins University’s Institute for Applied Economics, Global Health, and the Study of Business Enterprise in Baltimore, Maryland. Hanke is known for his work as a currency reformer in emerging-market countries. He was a senior economist with President Ronald Reagan’s Council of Economic Advisers from 1981 to 1982, and has served as an adviser to heads of state in countries throughout Asia, South America, Europe, and the Middle East. He is also known for his work on currency boards, dollarization, hyperinflation, water pricing and demand, benefit-cost analysis, privatization, and other topics in applied economics. Hanke has written extensively as a columnist for Forbes magazine and other publications. He is also a currency and commodity trader.

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