Markets Weekly August 24, 2024

#federalreserve #marketsanalysis
Powell Officially Pivots
Dollar Imploding
800k jobs revised away

00:00 - Intro
1:12 - Powell Officially Pivots
6:34 - Dollar Imploding
10:35 - 800k jobs revised away

For my latest thoughts:

For macro courses:

My best seller on monetary policy:

[edkg]

my favorite weekly macro market analysis!!!

[chrisp]

Joseph, my friend! Loved the video as usual. Thanks very much for tirelessly keeping us on the right side of macro events. ❤

[michaelcoggan]

Excellent and staunchly professional in your comments as always. Thank you.

[terrywatt]

I look forward to watching your commentary and following your twitter posts. Thanks for unbiased observations

[MrTigerStarX]

My concern is that there was no mention of entrenched inflation, and price stability was downplayed.

[sivi]

Is fed QT still going on while he start cutting ?
Thx .
Good show .

[DanielKeller-wf]

2024 - We do we still use "representative sample" techniques developed 50 years ago? Everything is digitalized, as soon as you hire someone or create a company, you need to register it for tax purposes.

[jeffreychandleton]

Bringing the 🔥 Joey. Thanks for your perspective

[xA]

We don't know where the market is heading towards, but we are SURE about one thing - the number of things Joseph is going to talk about each week :)
All jokes aside, love your content!

[eviansu]

As for the DXY trend….what I noticed is the correlation between DXY and USDJPY is very high since end Jun’2024. It makes me to believe that the impact by Japan monetary policy change is far beyond Aug05 market crash, and it is not over yet. BoJ also called out the risk to US and global economy in their report “Economic activity, price and monetary policy” dated May.29’2024.

[maciekwais]

Does a 50bp cut in September mean a bye-bye soft landing?

[martingifford]

Does he know about the BRICS de-dollarisation?

[jurgbalt]

I like big CUTs an´ I can not lie.
You otha traders can´t deny

[kryptoknight]

If there is no accountability in releasing inflated job numbers, then what can we use as a reliable proxy ?

[sfm]

All important data is published by people who are incentivised.

[jonEmontana]

Some algorithmic models are showing inflation ticking back up q1-q2

[sdfergf]

As long as ON RRP is $300 billion+, the market is not going down. It is as simple as that. The under appreciated aspect of this whole Fed interest rate debate is the monetary policy is not restrictive for a lot of people and institutions. It’s a shell game. Reserves have barely declined over the past year or so. Talk to me when RRP is at 0. Then like magic balance sheet runoff will stop and 2% core CPE gets pushed out to 2030. It will eventually get to 2% and the Fed will declare victory, cut rates to 0, and then start transferring SOMA “profits” to Treasury. It’s all a joke until the music stops. Then watch out.

[chrislawlor]

sounded like Mr Powel said the time has come for data dependency

[Weetorp]

USD is going down because RoW is accelerating and US is decelerating...

[timm]

I didn’t expect Joseph to mention and hence generate a conspiracy theory. If you end up saying “I don’t know” but you are making it up, why to spend time putting it up out there? 😏