Bob Michael
speaker
94 appearances
7 recordings
2 series
first heard Dec 2025
last heard 21 Jan
Bob Michael’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 7 in all, peaking in Jan 2026 with 6.
Appearances
Well, I think you have to look at which Fed presidents are coming onto the FOMC next year, and they're mostly in the hawkish cap.
So whoever you put in as the Fed chair has to be very persuasive.
And I guarantee you the president isn't looking to appoint the next Paul Volcker.
They're looking to appoint someone who believes in supply-side economics.
Absolutely, 100%.
But it doesn't change the fact that that's what's occurring and the market's responding to that.
I look at everything that just happened in the last few minutes, and everyone got what they wanted.
Those hawks on the Fed that didn't want to see a rate cut
They got that.
When you look at the Fed futures market, we had two rate cuts priced for next year, mid-year and the end of the year.
Now there's only one price for next year, and it's in the fourth quarter.
So you got what you wanted.
You got the market moving away from being in a rate-cutting regime going forward.
But if you look at the doves on the Fed, if you think about the administration, they got what they wanted.
They got another 25 basis point taken off of base rates, and the market's responding positively to that.
It's rare that everyone gets what they wanted out of an FOMC meeting.
Well, I think that's what the market's hoping for.
I think there are a lot of businesses that we invest in where we do see the productivity gains from AI already.
We also know within our own bank, there are significant productivity gains.
So some of that is already out there.
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