#219 Campbell Harvey: End of Boom-Bust Cycle? | Will Yield Curve Show First False Signal?

The Julia La Roche Show

Professor Campbell Harvey, professor of finance at the Fuqua School of Business at Duke University and the inventor of the most famous recession indicator — the inverted yield curve — returns to The Julia La Roche Show for episode 219 to discuss the state of the economy, the yield curve, and what's ahead for U.S. growth.

Links:

DeFI and the Future of Finance: https://www.amazon.com/DeFi-Future-Finance-Campbell-Harvey/dp/1119836018 https://www.fuqua.duke.edu/faculty/campbell-harvey https://people.duke.edu/~charvey/ https://twitter.com/camharvey

Timestamps:

00:02 Introduction to Professor Campbell Harvey

00:51 BlackRock's "end of boom-bust cycle" thesis

04:15 Historical perspective on market cycles

06:14 Impact of wealthy consumers on economy

07:13 Role of technological innovation

11:37 U.S. leadership in innovation

14:31 Growth prospects and productivity potential

16:09 Post-election growth outlook

24:56 U.S. debt and deficit challenges

28:16 Social Security sustainability issues

32:51 Inverted yield curve indicator discussion

40:11 Impact of technological innovations

45:21 Federal Reserve policy critique

50:20 Distortions from Fed's zero-rate policy

54:18 Future consequences of Fed decisions

59:40 Closing thoughts on U.S. prospects