October 30 - November 1, 2022|Orlando, Florida
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Keynote Presentations

Sun., Oct. 30, 10:30 AM - 10:50 AM EDT
Sunday

When Stupidity Succeeds

In 2000, When Genius Failed, the definitive account of LTCM's downfall, hit bookstands everywhere. The book detailed how a group of economic academicians (including two Nobel Prize winners), brought the US financial markets to the brink of oblivion. Flash forward 20 years and their fellow geniuses at the Federal Reserve are doing an excellent job repeating their mistakes--only on a much grander scale. A decade of ruthlessly repressive interest-rate policy has built up unprecedented imbalances in financial markets, leaving the US economy more vulnerable to any downside than it has ever been prior. Seemingly oblivious to this dismal reality (or fancying themselves smart enough to navigate around any problem) the Fed has undertaken the most aggressive tightening since Paul Volker. While they imagine they can engineer a soft landing, there's every reason to expect this downturn will give 2008 a run for the money. Stephanie Pomboy will discuss the implications of the Fed's latest policy blunder for the economy, markets, and the future of dollar hegemony.

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Stephanie Pomboy
Founder & President
MacroMavens