Ken Wattret

speaker

312 appearances 3 recordings 1 series first heard Jun 2026 last heard 11 Jul

Ken Wattret’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 3 in all, peaking in Jul 2026 with 2.

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The Decisive Podcast: Insights and analysis to empower confident decision-making. · The Age of Agility: Midyear Signals for 2026 - Part 2 · 4 Jul 2026 podcast

He's also expressed a preference for alternative trimmed measures of inflation.

And we've been writing about that recently.

Now that could be interpreted as moving the goalposts, in other words, shifting attention onto a measure of inflation which is lower than the one the Fed currently targets, PCE inflation, in order to engineer a situation where policy rates can come down.

happy.

Now that speculation could end up being wider the mark, but one of a number of uncertainties about the direction of travel for the Fed, which could have major implications for financial conditions in the US and globally.

The second issue, in brief, is rising global imbalances.

And by that, what I mean is the increasing current account deficits and surpluses in some of the world's biggest economies, including the US and China in particular.

Now, the reason for highlighting those is that rising imbalances in the past have been a harbinger of financial trouble and crises with long-term economic consequences.

So think about the global financial crisis back in the late 2000s.

That was preceded by the US running a sustained, very large current account deficit, while mainline China, Japan, Germany were running big surpluses, and it's the same countries now.

Now, one positive difference between then and now is that the scale of the current account deficits and surpluses are smaller relative to national and global GDP.

So that's some comfort.

But even if a crisis doesn't materialize, those imbalances prolong the trade tensions.

And that also has detrimental.

effects on global economic conditions.

And the real concern we have is that the causes of those imbalances are not being addressed.

And there's two key areas there.

One is the huge US budget deficit and the other is a lack of growth rebalancing in China.

A lot can happen in a very short period of time.

Just think about what's been going on in the last few days.

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