Ben Emons has a decades long career in fixed-income and derivatives trading and portfolio management. He has managed global and core plus fixed-income strategies and funds and separately managed accounts for central banks, sovereign wealth funds, pensions, insurance companies, and qualified purchasers’ investors. And so much more.
Now as the Founder of Fedwatch Advisors Ben is putting his laser focus on defining what the Tariff Economy is, where it it will go, what it will mean for the economy, investors and even for the Fed.
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”That's exactly how you describe where we were maybe entering a phase in the economy, where the tariffs are going to be really controlling the direction of the economy, because previously in the first Trump administration, we did a very partial approach, which is <that you should target> product categories.
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”And we used this as a negotiation tool. Now… it's clear that that's President Trump - and he does you know he says what he does- it's just really important to understand is that a universal tariff is likely to be implemented. That means it's going to affect not only all prices on all goods coming in, but also on prices that are domestically produced.
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”And if that's the case, you're going to affect consumer demand. You're going to get effects on investment. On expectations in particular, if you think of markets… Markets are going to pay attention to that as much as they're looking at interest rate expectation of the Fed. And if anything, they probably going to be related because tariffs affect the economy, it's actually going to affect the Fed's view of the economy, therefore the outlook.”
So dive in and hear, see what Ben has to say. Donald Trump has not even been inaugurated yet but as he is expected to hit the ground running, focus on defining and debating what the Tariff Economy is going to be and what it goings to mean for investors is only going to get bigger.
Ben Emons is the founder of Fedwatch Advisors. In March 2020, the FedWatch originated as a quantitative investing project at Medley Global Advisors to improve the filtering of Fed speak for investment strategies.
Ben holds an MBA from the University of Southern California Marshall School of Business and a master’s degree in international finance and monetary economics from the University of Amsterdam. He is a certified financial engineer from Columbia University and a CFA and CMT program candidate.He has extensive work experience in fixed-income and derivatives trading and portfolio management. He held sell, buy, and fiduciary roles, specializing in multi-asset fixed-income, equities, private credit, High Yield, structured credit and special lending.
He has managed global and core plus fixed-income strategies and funds and separately managed accounts for central banks, sovereign wealth funds, pensions, insurance companies, and qualified purchasers’ investors.
He is the author of The End of the Risk-Free Rate, The Financial Domino Effect, and Mastering Stocks and Bonds. He advises advisory platforms, wealth management, family offices, and RIAs on Outsourced CIO services and provides insights on interest rate overlays for hedge funds and money managers.
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