This is a news/current affairs podcast focusing on macroeconomic analysis and its impact on financial markets. Dr. David Kelly, Chief Strategist at J.P. Morgan Asset Management, discusses the recent sharp rise in long-term interest rates, attributing it primarily to uncertainty surrounding the incoming administration's policies. He analyzes various factors contributing to inflation, including labor market dynamics, energy prices, supply chains, and sticky inflation areas like shelter costs. Specifically, he notes that the 10-year Treasury yield rose from 3.63% to 4.77% between September and January, largely due to increased real yields rather than inflation expectations. Listeners gain insight into current economic trends and the potential impact of policy decisions on investment returns and the overall economy.
