Toby Howell

speaker

33,236 appearances 345 recordings 5 series first heard Oct 2023 last heard yesterday

Toby Howell’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 204 in all, peaking in Jun 2026 with 49.

Appearances

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Morning Brew Daily · Fed Raises Rates for the First Time in 3yrs & What Happened to Ed Sheeran’s Tour · 17 Sep 2026 podcast

So why is the Fed hiking now? voice-verified

Well, it's essentially made no progress towards one of its core mandates, which is keeping inflation around its 2% target. voice-verified

It has been above that since mid-2025. voice-verified

Last year's rate cuts were in insurance actually against the other part of the Fed's mandate. voice-verified

They didn't want the labor market to break down, but that downturn in the labor market never really fully materialized. voice-verified

Unemployment has remained pretty low. voice-verified

Hiring has remained strong. voice-verified

So voice-verified

Essentially, they've looked at the economy and said it can take higher rates for now. voice-verified

And then on the inflation side of things, it has been very complicated because there are three big things that have happened. voice-verified

One, tariffs, the tariff regime rolled out, which kind of throws sand into the gears of the global economy and just raises prices dramatically. voice-verified

Two, the Iran war broke out and caused an energy shock. voice-verified

That's probably the biggest thing. voice-verified

And then actually three, the enormous AI investment boom that has been propping up the economy has actually been working against the Fed a little bit because it is adding this big supply and this big injection of activity to the economy, causing it to run a little bit hotter than voice-verified

than it would have the AI boom not happen. voice-verified

So those three headed monster is the thing that is keeping inflation higher than the Fed wants it to be. voice-verified

I actually think this is a good example of how statistics can lie a little bit. voice-verified

Not lie, or just basically portray a picture that a lot of people may not be experiencing themselves. voice-verified

Because for a long time, higher earners have been responsible for bigger and bigger amounts of consumer spending. voice-verified

We see this across lots of industries. voice-verified

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