Joe Wallace

speaker

68 appearances 2 recordings 1 series first heard Jun 2019 last heard Mar 2021

Joe Wallace’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Gas Prices Keep Rising. Is There Any Relief in Sight? · 24 Mar 2021 podcast

The high gasoline price is just one of many factors leading to an overall rise in consumer prices right now.

And it's one reason why economists, including those at the Federal Reserve, expect at least a temporary rise in or burst of inflation in the coming months.

This is a big debate in the market.

Normally, one would expect consumers to start to change their driving habits to try to cut back on the amount of fuel they buy as prices approach about $3 a gallon.

That's for gasoline.

But the question is whether that pattern will hold this year because there might be so much pent-up demand to get out on the roads.

when lockdowns lift, that people will drive regardless of the prices, in particular because there's also been a build-up in savings, partly because people haven't been able to go to restaurants and go on holidays, and also because of the stimulus checks that the government has sent out.

A countervailing force is that lots of Americans are still working from home and millions are obviously still unemployed.

And commuting accounts for a big proportion of gasoline demand.

So if that remains the case, then that would put a lid on gasoline consumption and potentially prevent it from rising back to its 2019 peak.

Thanks so much.

WSJ Your Money Briefing · Gold Prices Are Glittering as Fed Talks Interest Rate Cuts · 21 Jun 2019 podcast

Yeah, so gold is up 3% today.

That's its biggest move since October last year.

As you say, it's trading near a six-year high at about $1,390 an ounce.

And it's not just gold, as you say.

Copper is up 1.3% in London.

Nickel is up 1.5%.

The Federal Reserve has really unleashed this with its talk of a possible interest rate cut last night.

Yes, you're quite right.

I mean, I think that's partly because gold is more of a kind of purely financial asset, whereas industrial metals are also, while they are bought by investors, they're also bought and sold a lot by actual construction companies and people who use them in business.

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