Macquarie's Wizman Sees 'Pretty Hawkish' FOMC Minutes

The video discusses the economic outlook, focusing on inflation and fiscal policy. It highlights the lack of hawkishness on inflation despite fiscal stimulus and debates the impact of fiscal policy on inflation. The significance of the 10-year yield reaching 3% is analyzed, noting its psychological impact on the market rather than fundamental significance.

What was the general sentiment about inflation in the initial economic discussions?

• Neutral with no clear direction

• Optimistic due to fiscal stimulus

• Confident in inflation control

• Pessimistic despite fiscal stimulus

What was surprising about the policymakers' discussion on fiscal policy?

• They ignored fiscal policy altogether

• They believed it would deflate the economy

• They were unanimous about its inflationary impact

• They were unsure about its net effect on inflation

Why was there no sign of inflation despite the tax reform?

• The tax reform was not implemented

• Inflation was not a focus in discussions

• It was too soon after the tax reform

• The economy was already stable

Why is the 3% yield on the 10-year bond considered significant by some?

• It is a government target

• It indicates a market crash

• It is a nice round number

• It marks a historical low

What is the expected market reaction if the 10-year yield hits 3%?

• A short-term trading spike

• A long-term market shift

• No reaction at all

• A decrease in bond prices