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Macro Bytes

Is the Fed behind the curve? Is the Bank of Japan dangerously ahead of the curve?

Macro Bytes returns after a summer break to discuss why the ‘Sahm rule’ isn’t a rule, why inflation has been more volatile and how what happens in Japan matters to global markets.

Authors
Paul Diggle
Paul Diggle
Chief Economist
Luke Bartholomew
Luke Bartholomew
Deputy Chief Economist
Contributors
James McCann, Sree Kochugovindan

Duration: 33 Mins

Date: 26 Aug 2024

A weak US jobs report reignited concerns about a US recession, and a surprisingly large Bank of Japan rate hike causes a rapid unwind of the yen carry trade. Together, these sent shockwaves through financial markets. Paul Diggle and Luke Bartholomew speak to James McCann and Sree Kochugovindan about whether “this time is different” for US recession indicators, what the resignation of Prime Minister Kishida means for the Bank of Japan, and the outlook for US and Japanese monetary policy. 

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