Dry Powder: The Private Equity Podcast
The last time we talked to Karen Harris, the managing director of Bain’s Macro Trends Group, in May, she observed that the Fed appeared to have “broken the back” of core inflation. While that leading indicator has indeed stabilized, we’re not out of the woods just yet.
“I’m not sure that we are at a point of price stability,” Karen explained to me on the latest episode of Dry Powder. “I think what is clear is a few months ago people were hoping, or there was certainly a section of the market that thought we’d begin to see rates come down, maybe pretty aggressively in 2024, and that feels like it’s much less likely to happen.”
Today on the show, I ask Karen to unpack the Fed chairman’s latest comments from Jackson Hole and whether the economy could emerge from this period of rate hikes unscathed.