Mary Daly
speaker
1,237 appearances
2 recordings
1 series
first heard Dec 2024
last heard Aug 2025
Mary Daly’s voice in public audio — every appearance, attributed to the second.
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Appearances
Cuts.
Let me say this.
Yeah, let me say this.
Okay.
We were having these conversations about the rising neutral rate of interest before the election, before the administration changed.
And so
I think we should look to what are the fundamental factors in our economy that are changing the neutral rate of interest, not just in the US but in the
Yeah, we're interested in this.
The interest rates are not set nationally.
I mean we've set interest rates nationally, but gl interest rates are global.
If you remember prior to the pandemic
Interest rates and after the GFC, interest rates, the real rate of interest was just falling.
Inflation was below most countries' targets, and it was the sluggish growth, inflation expectations are falling.
How are we going to manage this stagnation that's going to come from this, secular stagnation?
Then we of course inflation rises in almost every country, and we're talking about the real interest rate going up, not down.
And so we're
look at a place where it settles now at the neutral rate in nominal terms, setting l settling around three or higher, not at 2.5.
So that's a pretty big increase in the in the rate of interest, the neutral rate of interest.
And frankly, the direction seems to be pushing it up, not pulling it down.
And I think that's where I try to explain to people the most is that interest rate cuts, if you think we're going back to
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