The Inflation Debate That Will Shape the Fed’s Plans for Interest Rates
3/1/202631 min
In this week's episode of WSJ’s Take On the Week, co-hosts Telis Demos and Miriam Gottfried are joined by Rob Kaplan, vice chairman at Goldman Sachs and a former Federal Reserve president, to break down some big topics in markets. They discuss the market's reaction to the Supreme Court’s decision to strike down the Trump administration's tariffs under the International Emergency Economic Powers Act. Then Kaplan explains why investors are repositioning into "HALO" stocks—short for Heavy Assets, Low Obsolescence—like McDonald’s, Walmart and ExxonMobil.
After the break, the conversation turns to the Fed...
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First 90 secondsSpeaker 10:00
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Telis Demos· Host0:15
[upbeat music] Hi, Miriam.
Miriam Gottfried· Host0:18
Hi, Telis.
Telis Demos· Host0:19
So where are you today? Looks like you're not in the usual spot.
Miriam Gottfried· Host0:23
I am not. I am stuck in Miami because my flight back to New York was canceled. Um, a lot of people might say I'm lucky to have avoided the snowstorm, but it's gonna be a little bit hard to get back.
Telis Demos· Host0:35
[laughs] Yeah, judging from outside my window, it's pretty, pretty, pretty wintry out there. Uh, so you might... I c- I can't, I can't promise you you'll be on a flight back anytime soon.
Miriam Gottfried· Host0:45
Well, I'm happy that I could be here to join us anyway for this conversation.
Telis Demos· Host0:48
Well, it's gonna be a big conversation because this week we've got a few topics to cover. We're gonna talk about Wall Street deal-making, some potential changes to the mortgage market, but we've also got, well we've got tariffs back on the brain. I know when we were doing this show a year ago, we were talking all tariffs all the time, and it feels a little bit like, like Groundhog Day. I don't know, what's the, what's the song from that movie? "IEPA got you, babe." Uh, I think we're experiencing some of that in the markets today. [laughs] Tariffs are certainly, once again, the topic du jour. Uh, and this week we're actually gonna talk through, uh, all of our topics and all of the big news in the markets with our guest. Uh, listeners of this show might remember from last year, he came and he joined us to talk about the Fed