Claudia Sahm: The Fed Itself Is The Biggest Risk To A Soft Landing

Finally, you can easily access Bitcoin in a low-cost ETF with the VanEck Bitcoin Trust (HODL). Visit https://vaneck.com/HODLFG to learn more.

VanEck Bitcoin Trust (HODL) Prospectus: https://vaneck.com/hodlprospectus/


Follow Claudia Sahm on Twitter https://twitter.com/Claudia_Sahm

Follow VanEck on Twitter https://twitter.com/vaneck_us

Follow Jack Farley on Twitter https://twitter.com/JackFarley96

Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance

Follow Blockworks on Twitter https://twitter.com/Blockworks_


Use code FG10 to get 10% off Blockworks’ Digital Asset Summit in March: https://blockworks.co/event/digital-asset-summit-2024-london


(00:00) Introduction

(00:34) Why There Was No Recession In 2023

(03:00) It Remains My Base Case That We Avoid A Recession

(05:01) Market Often Pays Too Much Attention To Individual Data Points

(10:39) Overview Of Sahm Rule And The Labor Market: "Once The Fed Starts To See A Modest Amount Of Weakening In The Labor Market, It's Probably Too Late"

(12:36) Sahm: I'm More Worried That The Fed Breaks Something In Financial Markets, I'm Less Worried About The Labor Market

(15:04) Commercial Real Estate (CRE) and Its Issues Likely To Be "A Slow Burn"

(16:57) Silicon Valley Bank (SVB) Was "Bread and Butter" For Fed

(20:54) The Sahm Rule Hasn't Been Triggered Yet - But How Close Are We?

(23:31) Notion Of 'Technical Recession' (2 Quarters of QoQ Real GDP Decline) Totally Failed

(25:59) VanEck Ad

(26:46) Labor Market

(29:45) JOLTS Can Be A "Problematic" Measure To Interpret

(36:12) Never Bet Against The American Consumer

(40:27) The Housing Market

(41:51) The Fed Should Never Be Buying Mortgage-Backed Securities (MBS) Again

(49:35) Neutral Policy Rate

(55:51) If/When The Fed Cuts Interest Rates, It Will Be Orderly (Unless There Is A Crisis)


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.

Other Podcasts from our Network