Markets across the world closed out the first half of 2023 on a pretty good note, rebounding a good bit from the declines of last year. Sure, interest rates have increased a lot as the Federal Reserve tries to battle inflation, but put simply: the economy is resilient as it normalizes from the bullwhip effects of the Covid recession. We’ve talked about this “normalization” for a while now, but it remains the biggest driver behind both a strong job market and declining inflation. It’s created unusually large swings in things like the travel industry or the goods economy, but as a whole it seems like we are (finally) getting back to an equilibrium.
I got the chance to chat about all this and more in our mid-year “State of the Economy” episode with George Pearkes and Conor Sen. George is the Global Macro Strategist for Bespoke Investment Group and Conor is a fellow portfolio manager and Bloomberg Opinion columnist. We touch on the current inflation dynamic, risks on the horizon, and hit on some really big picture themes we see coming. These guys are masters at simplifying economic narratives so we took advantage of having them both in one place and packed a ton of info into 35 minutes!
Click the link below or search "Doxa Takes" on Apple Podcasts, Google, Spotify, or Overcast. Enjoy!
