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Macro & Market Outlook with David Woo: Biden’s approval rating, NAIRU, Jackson Hole

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Thanks David, It seems higher rates are pretty much the base case scenario for the next few weeks and still they are making new lows everyday. Markets are always testing our convictions.

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Clarida was my PhD adviser. I guess we think alike


Unknown member
Aug 01, 2021

The combination of lower rates and higher equities over the past few weeks suggests that market is pricing a less hawkish Fed. An infrastructure deal, even though scaled back, would reduce fiscal uncertainty for Powell before he delivers his speech in Jackson Hole.


Thanks David!

It seems tapering is so well known by now. Do you still think it's going to have much impact to markets? Meanwhile, the infrastructure bill seems to be much smaller than originally envisioned, the would suggest less of a stimulus and lower supply pressure to the rates market? Would love to get your thoughts reconciling these two pieces.


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