PGIM's Collins: Fed Rate Returning to Zero in 3-5 Years

The transcript discusses the current economic landscape, focusing on wage growth, inflation, and the impact of quantitative tightening by the Federal Reserve. It explores how these factors influence bond yields and market expectations, with a particular emphasis on the potential for a global economic slowdown. The conversation highlights the challenges of predicting Fed policy and the implications for investors, suggesting a cautious approach to long-term investments in the face of uncertain economic conditions.

What evidence is being observed regarding wage growth and the labor market?

What is the significance of the term 'second derivatives' in the context of market analysis?

How does the speaker describe the impact of quantitative tightening on asset prices?

What factors are contributing to the tightening of financial conditions according to the speaker?

What does the speaker suggest about the future of the 10-year yield?

What is the speaker's perspective on the likelihood of a recession in the United States in 2023?

How does the speaker compare the current economic situation to past recessions?