Mens spændingen er høj omkring Ukraine og Rusland, mener Saxo Bank, at der er behov for at slå hårdt til på de finansielle markeder for at undgå en recession. Den amerikanske centralbank, Fed, må slå endnu hårdere til for at stramme de finansielle forhold for at undgå en ny recession. I sin fredags podcast nævner Saxo Bank, at den internationalt anerkendte finansmand, Zoltan Pozsar, Credit Suisse, anbefaler, at Fed bliver mere kreativ og skaber et såkaldt “Volcker moment.” Dermed menes at stramme finansforholdene endnu mere og mere brutalt i stedet for bare at bebude en serie langstrakte rentestigninger, der skaber uro, og som kan føre til en ny recession.
Pozsar urges the Powell Fed to create a “Volcker moment”
Saxo Market Call
Summary: Today features Saxo CIO Steen Jakobsen as we look at the latest Russia-Ukraine headlines shaking up markets and whether there is much signal in the overall noise.
More importantly, we discuss the “talk of the town” after the very influential Zoltan Pozsar (currently of Credit Suisse, but a towering figure in global finance after he helped coach the Fed and the US treasury through its response to the global financial crisis) wrote a short piece exhorting the Fed to get creative and craft a “Volcker moment”.
Such a moment would be an effort at tightening financial conditions by rattling global asset markets rather than merely signaling a brutal series of rate hikes, which so far have tightened conditions very little and risk merely bringing forward a recession. John J. Hardy hosts.
