The last economic week of August actually started last Friday at the World Governors Conference in the town of Jackson Hole in the state of Wyoming in the United States. Federal Reserve Chairman Jerome Powell’s eight-minute speech wiped $78 billion off the net worth of America’s wealthiest people as a result of sharp falls in the markets.
Today, in the first part of episode number 211 of Calcalist’s Money Engines podcast with the economist and chief strategist of Psagot Uri Greenfeld we talked about the reason for the declines. We analyzed Powell’s words, we tried to understand why the problems in Europe as a result of the rampant inflation are not similar to those in the US. In addition, we talked about the shekel that weakened this week and also about Bank of Israel Governor Amir Yaron’s interview with Bloomberg – a speech that took place immediately after his participation in the conference in Jackson Hole.
In the second part of the podcast we talked about one of the markets that has undergone and is undergoing changes almost on a daily basis – the car market. Why is it still taking so long for us to get our new car, what effect – if any – are rising interest rates having? And what is the connection between the global energy crisis and the electric vehicle market. The editor of Calcalist’s automobile section, Tomer Hadar, was late in the episode.
Pleasant listening!
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