{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Financial Source Podcast","title":"Fed, ECB, BoJ and RBNZ Reveal a Growing Split in Global Monetary Policy: Week Ahead, November, 01","html":"","width":"100%","height":180,"duration":1154,"description":"This episode dissects a major shift in the global monetary-policy landscape as resilient growth, stubborn inflation and rising energy costs force central banks to rethink how restrictive policy may ultimately need to become. The discussion explores why the Federal Reserve is facing renewed pressure to hike, how Canada and New Zealand are taking sharply different approaches to inflation risk, and why the possibility of a permanently higher natural rate of interest could reshape assumptions about borrowing, investing and economic growth.\n00:34.51 — Global Macroeconomic Outlook Overview\nThe episode opens with a global economy refusing to behave according to the traditional monetary-policy playbook. Higher energy prices, persistent domestic inflation and surprisingly resilient activity are colliding, forcing central banks to reconsider whether current interest rates are restrictive enough. The broader theme is that policymakers are increasingly confronting economies that remain stronger and more inflationary than expected despite years of tightening.\n01:50.58 — Federal Reserve and US Economic Growth\nThe Federal Reserve held rates at 3.75%–4%, but the apparent stability masks growing disagreement over whether policy needs to tighten further. Two policymakers dissented in favour of an immediate 25-basis-point increase, while third-quarter US GDP growth of 3.4% exceeded expectations and highlighted the remarkable resilience of consumer spending. Strong consumption and inventory investment suggest the economy is continuing to push through elevated borrowing costs rather than slowing materially.\n03:18.87 — Core PCE and Services Inflation\nCore PCE inflation eased to 2.5%, but the underlying composition remains uncomfortable for policymakers. Services inflation continues to run hot while core goods prices, which previously helped suppress the overall inflation rate, have started rising again. With goods inflation no longer offsetting persistent services pressures, the...","thumbnail_url":"https://img.transistorcdn.com/_dp6j2mibJTrYbYzK5yXvNewKf1GABAWj0IkQ-w-xQU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9mZjdk/OGJiNTYzNjc3YjQ0/N2YzYTg0ZjA2ZDk2/MjE5Mi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}