In this podcast [34 min], Insightview has interviewed Steen Jakobsen from Saxo Bank. Insightview asks Steen what the main aim of the European Central Bank and the Federal Reserve is when they ignore what everybody sees on the ground, namely inflation. Steen, who is Chief Investment Officer, warned already in 2020 that the world could be headed towards 1970s-styled inflation unless policymakers begin to withdraw unprecedented fiscal and monetary stimulus measures.
Insightview also asks Steen why most of the political left and market-liberal commentators have been absent when it comes to criticising a monetary policy, which is clearly boosting or preserving the wealth of the "upper-1%" at the expense of the "lower half" of the population. This weekend, FDP leader Christian Lindner said what should have come from the left: "Containing price increases is a social responsibility, and letting inflation run out of control leads to poverty.” [Read also the DW article, Germany's new Bundestag: Only for the educated?]
Steen Jakobsen joined Saxo Bank in 2000. As CIO he focuses on delivering asset allocation strategies and analyses of the overall macroeconomic and political landscape. With more than 30 years of experience, Steen Jakobsen regularly appears as a guest host on CNBC and Bloomberg News.
Music: Melodyloops, 'Technology Park' – by MediaM
