In this episode, Joseph Wang joins the show to discuss the latest Fed decision, its December economic projections, and what to expect from markets going into 2025. We also delve into why he expects way more than two rate cuts next year, why he’s bearish on US equities in 2025, and much more. Enjoy!
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Timestamps:
00:00 Introduction
02:44 Hawkish FOMC Conference
06:21 Immigration Impact
09:50 2025 Surprises
12:34 Trump, Trade, & Tariffs
15:01 What Is The Fed Thinking?
20:25 Peak Hawkishness
21:59 Long-Term Rates
23:25 SEP As A Psychological Tool
25:34 Ads
27:27 Fed Surveys & Politics
29:15 The Neutral Rate
31:13 How The Fed Gauges Restrictiveness
32:57 Reverse Repo
38:38 Treasury Coupon Issuance
40:25 Equities & The Dollar
44:01 Gold & Crypto
45:54 Long Bonds, Commodities, & Inflation
50:28 Main Takeaways
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Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
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