Justin Lahart

speaker

1,185 appearances 22 recordings 1 series first heard Jul 2017 last heard Dec 2024

Justin Lahart’s voice in public audio — every appearance, attributed to the second.

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We're not at that point at all now where you'd think that, oh my God, this volatility in the stock market is going to hurt the economy.

You've got to think it would have to fall a lot more than this.

Yeah, I think, you know, this is an interesting moment for all this to happen with a new Fed chairman coming in.

You know, a couple of things about about Jay Powell.

So first, during the if if you remember in 2013, there was this thing called the taper tantrum.

Before the taper tantrum, there were a few people at the Federal Reserve saying,

that were worried that investors were taking a lot of untoward risks.

One person at the Fed called them the three amigos.

And one of the three amigos was Jay Powell.

He worries about financial markets and he comes from that background.

So he seems to put more weight on worrying about kind of financial market excesses.

And look, right now, we're looking at a stock market that even after the sell-off, valuations seem very elevated.

And then in other places, you have very low bond yields, very low spreads between high-yield credit and comparable treasuries and all that.

All signs of a little excess or richness, at least, in the market.

So he's going to worry a little bit about that.

And he might not be too upset to see a little gas being taken out of the market.

A little jolt here and there.

Yeah.

You know, and then the other thing is, you know, he's been at the Fed, but he is the new guy, right?

The new guy as chairman.

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