Jason Cummins
Showing 1–2 of 2 transcripts.
- Milken Institute55 min
MI Summit 2013 - London: Quantitative Exiting: The Road Ahead for Monetary Policy
Laurence Boone, Jason Cummins, Spencer Dale, Brian Sack, David Zervos
Senior officials from the Federal Reserve, Bank of England, and ECB discussed the $10 trillion expansion of global central bank balance sheets, highlighting that future limits are defined more by political legitimacy and market stability than strict GDP thresholds. Panelists explained that recent policy shifts prioritize keeping interest rates low to stimulate growth, with the Fed planning to maintain a massive balance sheet until at least 2020 while the Bank of England commits to eventually selling sovereign assets to preserve credibility. While experts agree that the expanded monetary base poses limited inflation risk through tools like reverse repos, they acknowledge the trade-offs include a "Faustian bargain" of accepting asset bubbles to achieve macroeconomic stability.
- Milken Institute55 min
Lunch Panel - Europe at a Crossroads
Jason Cummins, Raymond McDaniel Jr., Nouriel Roubini, Josef Stadler, Christopher Ailman, Chris Ailman
Moderated by CalSTRS CIO Chris Ailman, a panel of global economists and financial leaders analyzed the Eurozone's structural fractures, identifying a high probability of a "slow-motion train wreck" driven by unsustainable debt, banking-sovereign loops, and a widening core-periphery divide. Dr. Nouriel Roubini projected Greece's exit by late next year as a precursor to a potential 2-to-4-year period of debt restructurings, while experts highlighted Spain and France as immediate solvency risks that could force the European Central Bank beyond its current inflation-focused mandate. In response to these geopolitical pressures, investors are shifting capital from financial to tangible real assets to hedge against currency devaluation, even as political fragmentation in Berlin and Paris prevents a unified fiscal solution or orderly disintegration.