Spencer Jakab

speaker

981 appearances 14 recordings 1 series first heard Jul 2017 last heard Jun 2021

Spencer Jakab’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · Wall Street: Don't Let Calm Markets Fool You · 14 Mar 2018 podcast

Real rates are very low all around the world. voice-verified

They're negative. voice-verified

It's not as accommodative as it was a year ago or two years ago. voice-verified

And that is the kind of thumb that they put on the scale of markets for a while. voice-verified

So even if, let's say, it still is stimulative, it invites a period of instability, invites dislocations like the kind you saw last month. voice-verified

And if you have enough of those dislocations, then it shakes people's confidence in markets. voice-verified

WSJ Your Money Briefing · Prepared for a Rainy Day? U.S. Savings Rate Remarkably Low · 1 Nov 2017 podcast

Yeah, I mean, so it sounds a bit ominous, right, to say that this is the lowest. voice-verified

And that was the month, the last month of that economic expansion. voice-verified

The recession began at the end of 2007. voice-verified

We already were moving into a pretty tough economic time. voice-verified

I mean, saving, everyone should save a bit. voice-verified

We have to save money for our old age and for various things like our children's college educations. voice-verified

The more interesting thing I think about the low level of saving today is that it's our seed corn in the sense that not only is it saving for tomorrow, but current spending is coming out of, in part, out of a very low level of saving. voice-verified

For whatever reason, and there are various explanations, but we can go two different directions from here. voice-verified

We can't go much lower. voice-verified

And if we go higher, why do we go higher? voice-verified

You know, it can be for a good reason and it could be for not so good a reason. voice-verified

Well, if you're very confident and confident just in general about the economy, then you will tend to save less. voice-verified

But if you're very confident about your job, unemployment is at a historically very low level today. voice-verified

And especially for people, let's say, with fewer skills, there are lots of opportunities. voice-verified

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