Starting with WEALTHTRACK’s launch in 2005, we established an annual tradition, sitting down for a rare in-depth interview with Ed Hyman, Wall Street’s number one ranked economist for an unrivaled forty-two years.

Hyman is Vice Chairman of Evercore, a leading independent investment banking and advisory firm where he is also the Founder and Chairman of its Evercore ISI division and leads its economic research team, which publishes what is considered to be must-read research by institutional investors all over the world.

A year ago, Hyman and his team were monitoring the multiple “Factors Behind Unprecedented Nominal GDP Growth,” which included record-low short-term interest rates globally, surging acceleration in money supply, the doubling of the Fed’s balance sheet to nearly $9 trillion and the more than doubling of the Federal government outlays to $7 trillion. All of this money flowing into the financial system and economy led to a surge in corporate profits and a very strong stock market.

The situation has almost totally reversed. Inflation has been surging, and the Fed is raising rates at a bigger and faster clip than ever before. As Hyman’s recent reports attest: “Fed Tightening (is) Already Having An Impact” and “Weakness (is) Rippling Through U.S. Economy.”

WEALTHTRACK Episode #1924 broadcast on December 09, 2022

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ED HYMAN

Founder, Chairman, Head of Economic Research,
Evercore ISI

ACTION POINT

PREPARE YOURSELF FOR MORE CHALLENGING ECONOMIC AND MARKET CONDITIONS

The impact of monetary tightening occurs with one or two-year lags
The dramatic tightening we have experienced won’t be fully felt until 2023 or beyond
Tightening already hitting home buyers and developers
Investors feeling heat across the board
Bond prices have had a brutal decline
With the exception of energy, all stock sectors were down in 2022
More pressure to come as earnings expectations are lowered