Podcast: Pozsar urges the Powell Fed to create a "Volcker moment"
Saxo Market Call
Summary: Today features Saxo CIO Steen Jakobsen as we look at the latest Russia-Ukraine headlines shaking up markets and whether there is much signal in the overall noise. More importantly, we discuss the "talk of the town" yesterday after the very influential Zoltan Pozsar (currently of Credit Suisse, but a towering figure in global finance after he helped coach the Fed and the US treasury through its response to the global financial crisis) wrote a short piece exhorting the Fed to get creative and craft a "Volcker moment". Such a moment would be an effort at tightening financial conditions by rattling global asset markets rather than merely signaling a brutal series of rate hikes, which so far have tightened conditions very little and risk merely bringing forward a recession. John J. Hardy hosts.
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