Seraya Investment Webcast #2
What ‘Trump 2.0’ means for Asian economies and markets, and our view on China’s recent stimulus package
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Welcome to Seraya Investment’s second investment webcast: Nik Hanim (Managing Director of AIMS Asset Management) in conversation with Andrew Limond (CIO of Seraya Investment).
This webcast covers the following topics:
During the webcast filming and editing process, our comments on monetary policy were lost. These should read as follows (starting from timecode 35:26 in the webcast):
On monetary policy, it’s really unclear whether the Federal Reserve will continue to cut rates aggressively next year, especially given the inflationary risks that we just highlighted. Note that the Fed is the one institution which is ‘independent’, and not under the control of Trump and the Republican Party. Fed chairman Powell will be in the role of chair until 2026. President Trump has made it clear that he would like to replace Chairman Powell with somebody more pliable, and there has even been talk of setting up a ‘shadow Fed’ within the White House next year, to influence market perceptions. If the independence of the Fed is being threatened at the same time as fiscal responsibility is called into question, that might be awkward.
Thank you for watching.
The Seraya Investment team