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- 게시일 2024. 04. 22.
- Michelle Meyer, Head of U.S. Economics at Bank of America Merrill Lynch, says the economy is entering a “healing phase” after the initial shock from the coronavirus pandemic. She explains how some inflation would be a good problem because it would reflect lower unemployment and higher purchasing power for consumers. Meyer says monetary and fiscal stimulus have helped drive the stock market higher while also boosting the real economy.
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What’s Next For The U.S. Economy: Michelle Meyer
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Do you agree with Michelle Meyer? Is there someone else you’d like us to interview for What’s Next? Subscribe to CNBC and let us know what you think in the comments below.
I think at the end of the day there’s nothing fundamentally wrong with the US Economy right now and any wounds to the economy are inflicted by our reaction to Covid. If there’s 1 thing I definitely really agree with it’s that we need to focus on expanding the middle class. Encourage people to save more and not just for retirement but to invest in a business. Small business is the backbone of a healthy middle class and we need to do everything in our power to encourage risk taking in this area.
I disagree with her not being worried about the FED spending massive amounts of money on corporate bonds because that makes credit easier for businesses to get which will increase overall risks, because when you run out of good businesses to lend to, you start lending to more risky companies, these companies mostly spend their money for stock buybacks, artificially inflating their value, which is why the 3 indicies have recovered since March and Americans haven't.
@iqbal sahibil You put there Pakistan, but not Russia. The powers here are US, China and Russia. Pakistan is Islamic by constitution right? The developed world is moving away from religion, there is a serious problem of integration (and human rights sometimes) when dealing with Islamic countries.
@@baysidegreg Small business in most sector are the past. You can dream as much as you want about the good old times, but the truth is that whatever can be scaled is generally more efficient, thus cheap, thus competitive. Example: most people actually wants Amazon, they don't really care about it's employees (which will eventually be substituted by robots). The future is big corporation, so you better start to rethink society because i expect a lot of influencer, content creator, and so on as there will be not much to do. Just wait full automation of storage and driving and then we'll see.
I dont agree with her regarding the FED policy.The FED has basically propped up the stockmarket and rewarded companies instead of looking out for the ordinary person, much like a Ponzi scheme.She is obviously part of the business community which could care less about the plight of ordinary people who are really hurting..
She is insane.....there is no "healing" that is going on. The majority of these horrific decisions have not even raised their head yet
She works for Bank of America giving economic forecasts. Maybe she knows what she is talking about? Maybe? Banks can afford to hire smart people. Lets hope shes right if you own a home or 401k
@@MrKongatthegates Fair enough, I am a not an accountant, but I am an Engineering Manager in the Oil & Gas industry and I see it and other industry crumbling around us. I had 145 Engineers working for me in March, the number is now approx 45 and dropping. Just passing along what is forming my position with what seems to be getting far worse
That does sound bad. Hopefully most will be back before too long...
Most of these ECONOMY EXPERTS don't even have an MBA, have zero experience in Market research, finance and accounting. These morons don't even know the fundamentals of market.
These are just wannabes, who get coverage coz of these moronic News channels.
@@MrKongatthegates I dont understand why an Asian man would be cheering for America? Aren't Asian men castrated by American media and Asian women stolen from them??? LOL
Money printer goes: "BRRRRRR"
iqbal sahibil Keep dreaming 😂😂
bruh
nailed it
@iqbal sahibil funniest thing I heard today.... Pakistan?? Superpower??? LOL
He's Middle Eastern so of course he wants to win!
@iqbal sahibil 😂😂😂😂
To call this a 'recovery phase' seems optimistic.
There's a whole series of bank failures a la what happened during the Great Recession that have yet to unravel. Did everyone forget about derivatives and leverage? And how could there not be, millions of people not paying their mortgage, rent, and credit card payments and persistent sky-high unemployment? The economic pain is still nowhere near the climax.
definitely we are just at the beginning of the decline. you do not print your way to prosperity
My money printer went brrr and now I'm in jail.
Yes, the chinese government will do that to you. But its young chinese like you that can make a difference by standing up to the communist regime.
Inflation is a tax that hurts the poor and middle class. It helps rich people who have lots of assets and properties. Inflation exacerbates wealth inequity. Inflation is bad.
Deflation hurts poor and middle class more because debt because more expensive to pay back not to mention less jobs out there. The rich will benefit from both inflation and deflation. In all honestly, the rich will always benefit regardless of policy. In order to help out main street, policy makers have to help wall street. Look at the unemployment benefits and the $1200 stimulus, alot of that money flew up towards the rich.
Wage inflation is good for workers but bad for savers
@@MrKongatthegates Wage inflation is a tactic used by developing countries to create an illusion of progress. In reality, they wage increate can never catch up with inflation and their quality of living keeps deteriorates. That's only to make the working class feel good while taking advantage of them.
Yes, inequality is a big concern. But printing money to pump up stock prices feels so much more important, right now...
I'm convinced at this point if every major US city got nuked, the stock market would still go up.
Was just about to invest in an ETFs and now I'm told it makes be a leech.
For one, ETFs make it possible to build a diversified portfolio with relatively good investment amounts and perhaps it has a number of features that can make these investment vehicles ideal for young investors with capital to invest.
@jeremy brown ETFs are ideal for investors because of their many benefits, such as low expense ratios, abundant liquidity, range of investment choices, most especially diversification and so on.
@ Robert, Are ETFs safer than stocks?
"Can we print our way out of this?"
Not unless the people think we arent absolutely scamming them
CNBC: "Hold my beer! I got this"
Where did this economist get her degree from? This is the most out of touch I've ever seen CNBC be. Wages have not caught up to inflation since 1972. The trillions of dollars the Fed dumped into the stock market benefits only big corporations. Do these people even know a single one of the 80% of Americans who don't own stocks, or the 40% of Americans who live paycheck to paycheck? Bank of America, Wells Fargo, Lehman Brothers, Goldman Sachs etc should be excluded from conversation that deal with "regular Americans. SMH.
Another day, another What’s Next For The U.S. Economy video?
It's getting old. They all say the same thing everyday.
Have wages ever surged? I'm pretty sure wages have been stagnant since the 70s.
If Inflation surges wages will have to surge as well
@@MrKongatthegates Wage go up, I profit less, so I hire less.
@@HH-bh8wq ...if Wages would go up...then you have too raise price of your service too...thus you can profit as before... There's a curve name Philips Curve which states that most time Unemployment and Inflation have a inverse relationship...and this curve has been very consistent and few exceptions like Hyper Inflation..You are Watching videos on Economy but doesn't know the 'E' of Economy....LMFAO....
@@DhrubajyotiRaja01 not every consumer can afford your 15 dollar pizza when it use to be 10 dollars. guess they didn't teach you that in your econ class?
The Fed bailed out the banks time and time again using taxpayer money. What else do you expect her to say? Inflation/deflation is a natural economic correction mechanism. Inflation during times of growth acts to cool the economy so it doesn’t overheat. Artificially injecting inflation into the economy in times of weakness when deflation is necessary to encourage spending is doomed for failure. I’m sure the economist knows this, but not stating it makes you wonder how she became head economist at a bank. As to WHY they try to spin this... you be the judge.
Everyone: The economy is on fire!
CNBC & BOA: Don't worry, a fire is actually a good thing.
I feel bad for anyone that takes this interview seriously.
I want to give a hugg, there is so much bubbliness in this conversation that i'm seeing rainbows and unicorns.
are you high???
The host smiles all the time
What is not to love about carrying your milk money in a wheelbarrow? #sarcasm
Debit cards wont increase their weight, my guy lol
@@kasseen LOL
Dom Joel
one would think after 2008 that inflation is not so easy to create. Inflation stands below 1%, we're in a deflationary period. I love all these people who trot out economic theory that has been borne out. "Omg Weimar!" "V-vEnEzUeLA!-"
Use your credit card like a normal person
@@merc7paul People aren't immortal nor do they issue their own sovreign currency. After decades of seeing the defecit go up you would think people would be like "maybe I should question my assumptions."
We shouldn’t be asking an economist what’s next for the economy we should be asking The Federal Reserve.
Okay do you have the contact information for the SAUDI ARABIAN ROYAL FAMILY?! ... I mean they are the ones who own the FEDERAL RESERVE.
cameron taylor hows that?
I'm a newbie to this. Do you know what the distinction is between monetary and fiscal policy?
I’m selling my house at an inflated price, it’s not working so far.
Depends on who's doing the inflation.
She isn't worried about a bubble and she doesn't think there is a bubble. Ok she cannot be taken seriously 🤣
There is always a bubble
The only question is where
@@jeremiahblake3949 she is living in a bubble.
lower unemployment and higher purchasing power ,ridiculous
Fantastic questions! Those are all the things I would have asked. Thanks!
"HEALING PHASE" 😂😂😂😂
Supply chain disruption, protectionism can drive local prices higher, which is inflationary
Supermarket shelves are not as fully stocked as before the pandemic,
continued shortages will lead to higher consumer prices, when these higher prices are reported in the inflation statistics, how will the Fed react to that?
We need to follow Zimbabwe and Argentina into prosperity
In the all new American show who wants to be a trillionaire?
Screw Bank of America
good stuff
This seemed so much longer than 10 minutes
Excellent
Michelle Meyer has a really complicated way of saying... I don't know what's going on, but really I do, but I'm well paid not to say it. #ladyboss
Hello.
I understand the expressed rationale for perceiving some inflation as being good. But, aren't interest rates closely tied to inflation? If they are, then given the gargantuan deficit, I would think the need to reduce debt service overrides benefits from inflation.
The federal reserve sets interest rates. They have the ability to cause inflation but their mandate is price stability. Same as 2008
J. Pow goes: Brrrrrr
why cnbc couldn't give this economist a nobel prize like others?
Yes, I want the opinion from someone whose career move includes let me see what I can do after Lehman Brothers
Bless the kind American People🙏 I am a youtube-r from China.
Was KRplus not ban there?
I thought China's government blocked its citizens from accessing western media. But, perhaps you are innovative enough to bypass their blockade. I hope that relations between China and the U.S. will improve. At a minimum, that will require voting trump out of office ( a place he was never fit to serve).
@@gregparrott if he leaves we are going to become like China
@@hopeborgmann6905 you're saying the guy putting secret police on the streets to quell civil rights protesters is not making the US like china?
How much is too much?
Are we going to start wallpapering our walls with dollars?
Inflation would be a "Good Problem" for the banks as the Federal Reserve should be forced to increase the interest rates and then, benefit the banks
I think we all got dumber watching this video. Its just propaganda to make us okay with the govt turning the Money printer up to 11
Thanks for the obvious knowledge, Ms. Obvious. It is amazing how such people get these jobs with such obvious knowledge. No mention of housing market, rental market and no mention of how the stimulus is trying to keep people from abandoning housing and its housing market impacts. No mention of how the financial market is trying to stimulate supply chains and related jobs. No mention of how to re-establish supplier base to feed this supply chain. No mention of how to solve this supply chain problem as it relates to US relation with China as major supplier. Such obvious knowledge coming from Fortune 500 employees. The reality could be that even Fortune 500 economists do not know how this economic problem could evolve with the coronavirus context. Lmao. F**kin ridiculous. Is that worth $150k salary?
I'll say this it should be illegal for banks to offer interest less then the current inflation rate. Yet leverage the money in personal accounts for high yielding personal and business loans
Oh that's what we need after a pandemic with people out of work... That'll bring the economy back. #genius
This comment section > Michelle Meyer
Best thing anyone can do is just get out of the debt system forever, don't participate in debt, it is not good for humanity, learn some real skills in life, having something to do with necessity industries and not the luxury industries of life, because those are the first business models that crumble in tough times, learn how to grow your own food, fix your own car, etc, get out of the metro cities, and live within your means. It's much better on stress levels to own less or nothing and be debt free than it is to appear rich and be buried in debt, learn to enjoy living on less, you will be much happier anyways, living a less complicated, less stressful life. Also very important to love yourself and others more, give more, and be generous to help others in need when you have more means available. Don't judge others, as everyone's on their own journey and they're learning too, have faith as they will learn in due time...
Four minutes in and these people are the worst. Painting a rosy picture while the economy tanks and the stock market.inflate. Whistling past the graveyard as they say.
Unbelievable that she believes inflation is a good problem.
If she is being paid 7 figures during hyper inflation, she just might be able to pay down her college debt 🤣
The problem is the velocity of money, at current velocity, we will end up in a recession, that is what the FED is fighting. Once inflation kicks in and we are sure we aren't going into a recession, the FED can stop new QE and start raising rates.
@@akashpatel5505 We are already in a recession. Sure, printing money helps in short term but the fed is only making the inevitable dollar inflation crisis worse. Every fiat currency in history has ended in hyperinflation. US debt is already greater than our total GDP! Fed will not be able to raise interest rates to slow down hyperinflation when it begins because we can't afford to pay any additional interest on our total debt. We are at a point where fed has to print money just to pay the interest on debt 😬. Not good.
Please invest in some nice audio equipment for you video interviews. Really disturbing to listen to.
'Inflation will cause unemployment to drop and wages to pick up'......the stock market is inflated, the housing market is inflated and this is during a disinflation period. When the job market recovers , expect both the equity markets and housing to be completely out of reach for middle class. And as far as wage growth , you are living in a spreadsheet if you think there is any meaningful wage growth even in the last cycle.
Many red flags. But i like the shades of optimism that she mentioned.
I don't get it, she just said "some inflation would be a good problem because it would reflect lower unemployment and higher purchasing power for consumers", isn't inflation should by default lower purchasing power? As for whether if its good for consumer, tell that to those that just lost their job.
You’re trying to make sense of the Jewish mind.
So you are right about inflation decreasing overall buying power, but she is talking about what has to happen before inflation can take place. In order for inflation to rise, you would have to have a sharp increase in consumer demand to cause that inflation. If that's the case this means people have more buying power and that indicates wages are rising or unemployment is falling.
You cant get sustained inflation without full employment. How would that work? Inflation is caused by economic tightness not all kinds of slack. Prices should be cratering if anything
Currency printer goes Brrrr... If it were real money what we use, the printer cannot go Brrr. If currency printer is sad, banksies are sad (or any holder of huge and bad debts)
Explain how paying $45 for a pizza that cost $20 is a good thing particularly now in this economy? Inflation according to Peter Schiff is an expansion of money supply and in that case you are successful. But you are destroying the value of the dollar so everyone should buy gold silver etc barter avoid taxes and undermine your efforts.
there is an annoying background music
Still working from home?
Inflation would reflect the increase in purchase power???? Are we in the 60s or what?
Of course it would. When you measure inflation you include wages in the calculation. Inflation is mainly caused by firms fighting for workers and paying them more money, who in turn bid higher on real estate and goods. If people are broke and unemployed you just wont get inflation.
@@MrKongatthegates that would only be true if the economy was in a vacuum and if the central bank wasn't a versatile force.
How can anyone in their right mind make a statement like that, she apparently earns a decent living. People can't pay their rent, buy groceries, make their car payment, buy clothes for their children etc etc etc. So INFLATION would be a good thing? WTF is the matter with these people? TheReaper!
I wonder if the bank analysts have an incentive to convince people that the economy will grow
Interview Stephanie Kelton or are you afraid CNBC?
Two really beautiful and smart women. What is this?
Hahaha wutt.. So devaluating my savings is good because it makes other peoples debt less?? No it isn't.
This punishes savers. Maybe convert some fiat into silver / gold and keep it hidden in your house.
She says a lot without saying anything at all.
Inflation would be bad it would drive up price and demand would go down
The inflation calculation includes wages
Does anyone else feel like there is a lot of NOISE and no actual concrete information... no specifics... just a bunch of BLA BLA BLA...
I get this feeling very often when so called "expert" is a Millennial... anyone else notice that???
Worried about inequality and not about inflation or debt. Because of keynesianism is the US doomed
Lol inflation is a good problem? Yeah paying 500 for energy I can’t wait!
The average american is in huge debt. Inflation is good for them, not bad. Inflation is bad for those who are holding money. Not complicated. If you don't have money, inflation, deflation...doesn't matter.
Bob McBobbington that’s possibly the dumbest thing I’ve heard in my life. So you are basically saying the government is discouraging saving... and that’s somehow a good thing? In a time where most Americans earn a flat salary that won’t increase with the rate of inflation
@@bobmcbobbington9220 wages won't necessarily increase with the rate of inflation even as prices do, therefore no it's not good for the poor
Your numbers are wrong.
196,000 Trillions printed, how to inflation talking rocks !!!
” Laughs in German ”
Banks want you money in the bank. What else can they say
Just 30 seconds dedicated to 'inequality'.
Will the working class obtain more purchasing power? I doubt it. They will lose purchasing power. With stagnant wages and more inequality than ever this pandemic has completely spoiled the United States. All working class citizens and anybody with a good understanding of economics must remember that 70 percent of the US Economy depends on consumer spending. Therefore, if the average consumer has more money in their pocket relative to prices (purchasing power) then the average economic growth will be stable.
Dow 50,000
Inflation is the lesser devil, deflation gonna be bad.
Inflation = there are transactions, people buying and selling making a healthier economy.
Inflation may be good but only if jobs and wages go up not by just having inflation and people are getting their jobs back. Also inflation devalues the dollar and middle class end up paying the tab by paying more taxes.
Wtf I love higher prices now!
Bull beating up Bear!
We need to go back to a gold and silver standard. That way we wouldn’t have a need for bankers and people like Michelle telling us how the economy is doing.
Im excited for the further decline of the US economy ✌️
Me too, I don't like America but America will rule the world our entire lifetime
You hate USA...but consistently watching news about USA's upcoming fall...Seems like you are a sadistic person...LMAO...While your own country might be on the brink of Recession too...
As an American I am morbidly curious about how this decline will go, it'll be exciting for sure
Dhrubajyoti Raja
Nah not constantly, sometimes i enjoy watching videos of happy cats as well.
The girl talk on the economy provided no substance for those who want serious economic analysis. Michelle Meyer is just another Keynesian. If anybody missed it during the girly talk, the Phillips curve trade off between unemployment and inflation occurred on account of Michelle wanting to see a little inflation because that means there is some employment going on. Anybody here ever heard about the Friedman-Phelps expectations augmented Phillips curve? Milton Friedman and Edmund Phelps proved that there is no trade off between unemployment and inflation in the long run. Robert E. Lucas, Jr. (1973) destroyed A.W. Phillips' curve in the short run.
Then, there is the bubble economics that occured during the girly talk. I think Michelle should have a discussion with Eugene Fama (2013 Nobel Laureate in economics). Construct a graph and show me the bubble. She won't be able to.
Do better CNBC.
Inflation is a hidden tax. Why would you advocate for this
beats deflation
Isn't paying less for goods better? Why work and not able to buy what you want and save money as well
@@jonnyboy950 milennials don't even know what a savings account is
@@lwcasu yep. print more and negative interest are the only tools left at the end of the road
J POW go BRRRRRRRRRRR
J Pow took the Bear and threw it into the river.
Money Printing is a bad idea, you will cause the dollar to devalue. Theres the first problem.
Buy gold and silver!
the people making billions dont care
WRONG. Inflation still goes by demand. There is no increase in demand. In order for there to be an increase in demand there had to be a huge surge in births. Did the pandemic make tons of babies?
@@lextacy2008 inflation goes by supply not demand.
We live in a supply side economy not demand side.
@@rileydavidjesus Correct, we go by supply side, which is in itself is why prices are high (thats another conversation for another day), but your wrong also. Supply is also not being depleted faster due to the pandemic. It is still the same. The demand and supply intersection has not changed either. Equilibrium has not changed. With those metrics, please explain how do you get inflation with ZERO change?
Starts question with " Do you worry...". She's great but damn, a ridiculous way of asking an economist.
The rich stay rich by not spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich
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Terrible solution to suggest businesses should just take on debt as a sustainable solution to a systemic problem
The fed is buying the debt of huge companies with printed money at 0% interest. Wish I could get some its practically free money
Joshua Lee yeah corporations... not Main Street
One millennial telling another millennial they aren't worried about debt or inflation...how can anyone take these 2 seriously?
Right?! I was literally cracking up! Totally F'in clueless.
That's exactly what I was thinking like the tone of her voice and everything like what the hell is she even talking about lol
Hmmm.... I might be able to pay of current debts if I started being paid 7 figures instead of 6. But a loaf of bread might also cost 50$.
This lady economist needs to work on her presentation skills. She is painful to listen to.
We are sick and tired of waiting..people are going hungry and being evicted.
I don't give a rat's ass about the stock market.
WE THE PEOPLE NEED A $600 UNEMPLOYMENT EXTENSION AND STIMULUS CHECKS NOW!! NOT LATER. NOW!!!
I’m more confused now than before I watched this video. But the beautiful woman was nice to look at.
Buy physical precious metals and protect your wealth while being a good citizen and exiting the criminal Federal Reserve debtor dollar financial enslavement system.
Steven Perry
One word: Stagflation
Imagine defending inflation
Economist soo many of them.. tell me why they’re revelant??
Lol "She explains how some inflation would be a good problem because it would reflect lower unemployment and higher purchasing power for consumers" .... lower currency value = higher purchasing power??? how is she an economist, much less the head of US Econ? WtF?
This is one of the best interviewee for this current market.
“The Bahá'í International Community regards the current world confusion and the calamitous condition of human affairs as a natural phase in an organic process leading ultimately and irresistibly to the unification of the human race in a single social order whose boundaries are those of the planet.
The human race, as a distinct, organic unit, has passed through evolutionary stages analogous to the stages of infancy and childhood in the lives of its individual members, and is now in the culminating period of its turbulent adolescence approaching its long-awaited coming of age. The process of global integration, already a reality in the realms of business, finance, and communications, is beginning to materialize in the political arena.
Historically, this process has been accelerated by sudden and catastrophic events. It was the devastation of World Wars I and II that gave birth to the League of Nations and the United Nations, respectively. Whether future accomplishments are also to be reached after similarly unimaginable horrors or embraced through an act of consultative will, is the choice before all who inhabit the earth. Failure to take decisive action would be unconscionably irresponsible.”
(Baha'i International Community, 1995 Oct, Turning Point For All Nations)
Neolib blindness lol your consumers are dying and getting evicted and you're concerned over the debt put of all things
Privileged little snot.
Flipping burgers at McDonald’s is not a career move.
Bumpy ride or you kidding 160,000 Americans have just died.
Does that mean anything to you, other than a grab for their graves
Millions have lost their livelihood and insurance ‼️
Cash is King
I think I have a crush on elizabeth
She is so hot