Macro Hive Conversations With Bilal Hafeez

Bilal Hafeez
  • 0.0 (0)
  • Investing
  • Updated weekly

We talk economics and markets with leading policymakers and investors.

  1. 5 days ago

    Ep. 368: Richard Clarida on the Warsh Fed, the AI Capex Boom, and Global Economic Fragmentation

    Dr Clarida is a managing director and global economic advisor at PIMCO. Prior to rejoining PIMCO in 2022, he was the firm's global strategic advisor from 2006 to 2018. He served as Vice Chairman of the Board of Governors of the U.S. Federal Reserve System from September 2018 to January 2022. Richard is also Professor of Economics and International Affairs at Columbia University. Before joining PIMCO in 2006, he was Assistant Secretary of the Treasury for Economic Policy, in which he served as chief economic advisor to two U.S. Treasury Secretaries. Earlier in his career, he was with Credit Suisse and Grossman Asset Management. He has 26 years of investment experience and holds a PhD and a master's degree in economics from Harvard University. He received an undergraduate degree with Bronze Tablet Honors from the University of Illinois. In this podcast, we discuss: Clarida's Macro Origin Story Global Economic Resilience The AI Capex Boom Labour's Declining Income Share The "Warsh Fed" Doctrine Revisiting Forward Guidance AI's Impact on Productivity and R-star The Era of Global Fragmentation Optimism for the Next Generation  You can follow Richard on LinkedIn as well as the PIMCO website.

    Ep. 368: Richard Clarida on the Warsh Fed, the AI Capex Boom, and Global Economic Fragmentation

  2. 17 Jul

    Ep. 367: Brendan Greeley on The Almighty Dollar, 500 Years of History, and the Eurodollar Market

    Brendan Greeley has spent twenty years as a journalist, covering economic and monetary policy. He was the US economics editor at the Financial Times and continues to write a regular column there. Before that, he was a staff writer for Bloomberg Businessweek and The Economist, as well as an anchor and correspondent for Bloomberg TV. He has also written for The New York Times, The New York Times Magazine, and The Wall Street Journal Europe, and received a New York Press Club Award for special event reporting. Brendan graduated from Tulane University with honours in German. He is currently completing a PhD in financial history at Princeton University. In this podcast, we discuss: The "Ancient Dollar's" Bohemian Roots Skepticism of Monetary Sovereignty The Constitutional Shift to Private Banking Nationalising Money via the Civil War The Primacy of Federal Deposit Insurance Endogenous Money: How Banks Create the Dollar The Rise of the Offshore Eurodollar Market Stablecoins as "Schmanks" (Unregulated Banks) Career Longevity and the "Turn-Taking" Marriage

    Ep. 367: Brendan Greeley on The Almighty Dollar, 500 Years of History, and the Eurodollar Market

  3. 10 Jul

    Ep. 366: Mikihiro Matsuoka on Japan's Inflation, BOJ Policy Shifts, and the Weak Yen Challenge

    Matsuoka-San is the Chief Economist of SBI Securities in Japan. Before that, he was the Chief Economist for Japan at Deutsche Bank. Overall, he has been involved in macroeconomic analysis at research institutions and financial institutions for the past 30 years. He is known to be one of the leading Japan economists with unique insights on structural issues. Over the years, he has been highly ranked in numerous surveys, including the Institutional Investor survey. In this podcast, we discuss: The "Inconvenient Mix" of Inflation Japan's Real Neutral Interest Rate The Case for Nominal GDP Targeting Consumption Tax: Regressive Relief? Wage Growth Divergence The Working Hours Trap Fiscal Dominance and Vulnerability The Enigma of Yen Weakness Work-from-Home and Birth Rates Erosion of the US Dollar's Premium The AI/Semiconductor "Vertical Jump" US vs. Japan: Labour Participation Trends

    Ep. 366: Mikihiro Matsuoka on Japan's Inflation, BOJ Policy Shifts, and the Weak Yen Challenge

  4. 3 Jul

    Ep. 365: Stefan Jansen on Agentic AI, ML Workflows, and the Evolution of Machine Learning for Trading

    Stefan Jansen is the founder and CEO of Applied AI. He advises Fortune 500 companies, investment firms, and startups across industries on data & AI strategy, building data science teams, and developing end-to-end machine learning solutions.  Before his current venture, he was a partner and managing director at an international investment firm, where he built the predictive analytics and investment research practice. He was also a senior executive at a global fintech company with operations in 15 markets, advised Central Banks in emerging markets, and consulted for the World Bank. In this podcast, we discuss: Defining AI as a Moving Target The Trading vs. Business Data Science Divide Synthetic Data and the "Fat Tail" Challenge Shapley Values: Turning Black Boxes Grey Agentic AI and Unstructured Data RAG, Provenance, and the Context Window Debate The "Alpha Factory" Workflow Reinforcement Learning (RL) for Execution, Not Prediction The Critical Role of Human Context Advice for the AI-Native Job Market

    Ep. 365: Stefan Jansen on Agentic AI, ML Workflows, and the Evolution of Machine Learning for Trading

  5. 26 Jun

    Ep. 364: William Beach on the US Fiscal Precipice, Tax Reform, and AI's Impact on Labour

    William W. Beach is the Senior Fellow in Economics at the Economic Policy Innovation Center (EPIC) and the Coffin Fellow at the Calvin Coolidge Presidential Foundation. Beach also serves on the UKG Workforce Institute Advisory Board.   Prior to these appointments, Beach was the fifteenth Commissioner of Labor Statistics at the Bureau of Labor Statistics in Washington, DC. He took up his duties there on March 28, 2019. Prior to joining BLS, Dr. Beach was vice president for policy research at the Mercatus Center at George Mason University from February of 2016 to March of 2019; and, prior to that served as the Chief Economist for the Senate Budget Committee, Republican Staff, from 2013 through early 2016. In this podcast, we will discuss: The "Fiscal Precipice" The "Crowd Out" Effect Social Drivers of Debt The "Undemocratic" Tax System The Social Security Countdown The Future of "Enhanced Labour" The Data Response Crisis Modernising Federal Statistics

    Ep. 364: William Beach on the US Fiscal Precipice, Tax Reform, and AI's Impact on Labour

  6. 19 Jun

    Ep. 363: Martin Wolf on AI's Colossal Impact, Central Banking Risks, and the Democratic Recession

    Martin Wolf is the chief economics commentator at the Financial Times in London. He was awarded the CBE (Commander of the British Empire) in 2000 'for services to financial journalism'. In this podcast, we discuss: AI: The Ultimate General-Purpose Technology Market Complacency in the Middle East Jay Powell's "Superb" but Flawed Legacy The "Perverse" Risks of Kevin Warsh The UK's Productivity Puzzle and Brexit From "Democratic Recession" to Depression The "Graduate Trap" and Disaffected Youth Advice for the Next Generation

    Ep. 363: Martin Wolf on AI's Colossal Impact, Central Banking Risks, and the Democratic Recession

  7. 12 Jun

    Ep. 362: Dan Rasmussen on Private Equity's Stranded Assets, Private Credit, and the AI Bubble

    Daniel Rasmussen is the founder and managing partner of Verdad Advisers, an investment firm with over $1 billion in assets under management across multiple asset classes. He is the author of The Humble Investor (2025) and American Uprising (2011). Prior to founding Verdad, he worked at Bain Capital Private Equity and Bridgewater Associates. In this podcast, we discuss: Investing as Meta-analysis The Evolution of Private Equity Stranded Software Assets The Private Credit Mirage The "Adjusted EBITDA" Trap Small-Cap Growth Dangers The AI Capex Cycle AI Productivity Mindset

    Ep. 362: Dan Rasmussen on Private Equity's Stranded Assets, Private Credit, and the AI Bubble

  8. 5 Jun

    Ep. 361: Neil Dutta on the US Economic Outlook, Fed Policy Stasis, and AI's Role in Consumer Wealth

    Neil Dutta is Head of Economic Research at Renaissance Macro Research (renMac). He leads their macroeconomic research efforts, with an emphasis on analysing the US economy, the Federal Reserve, global trends, and cross-market investment themes. He is considered a market economist, looking at the economic data and trying to highlight the risks to the consensus as he sees them.  Prior to RenMac, Neil spent seven years at Bank of America-Merrill Lynch. There, he was a Senior Economist covering both the United States and Canada. In this podcast, we discuss: Neil's Wall Street "Origin Story" The Four Pillars of Economic Analysis The Real Income Squeeze AI, RSUs, and State Tax Revenues Pervasive Optimism and Reflexivity Risk The Fed's "Path of Least Resistance" The Warsh Nomination and Forward Guidance Productivity Boom or Demand Story? AI's Wealth Effect Beyond Accounting The 2027 Fiscal Headwind Substack vs. Institutional Research

    Ep. 361: Neil Dutta on the US Economic Outlook, Fed Policy Stasis, and AI's Role in Consumer Wealth
See All (328)

About

We talk economics and markets with leading policymakers and investors.

Information