Podcast
Simply Put
Hosted by Will Compernolle · EN
A podcast from FHN Financial looking at the most important things driving fixed income markets and the macroeconomy. Every episode features experts who give unique insights on topics like the regional banking landscape, commercial real estate, or how to translate Federal Reserve policy into market strategies. Tune in to better understand what’s been moving markets lately, and what to keep an eye on in the weeks and months ahead. Listen and subscribe wherever you get your podcasts
25episodes
Episodes
Newest firstAll episodes
Fabio Natalucci on the Rise and Risks of Private Credit
Apr 300:45:00Tap to summarizePrivate credit has outgrown its original niche of lending to middle-market firms using funds from institutional investors with long time horizons. Rising participation from retail investors and banks has increased the sector’s interconnectedness with the wider financial system, making investors worried that a wave of redemption requests could lead to a cascade of tighter financial conditions and slower economic growth. In this episode, we talk with Fabio Natalucci, Managing Director at the Andersen Institute for Finance and Economics, about the conditions that caused the rise of private credit, what’s behind its recent distress, and the sector’s biggest vulnerabilities.
Transcribe →Chad Syverson on the Causes and Effects of a Productivity Boom
Mar 2000:38:27Tap to summarizeAI optimism is fueling expectations for a sustained post-pandemic productivity surge that supports robust economic growth and permits easier Fed policy. However, history suggests full technological implementation can take decades and some industries could still struggle to become more productive. As policymakers consider the impacts of profound technological change, they’ll have to confront difficulties measuring productivity in real-time. In this episode, we talk with Chad Syverson, Professor of Economics at the University of Chicago, about the sectors seemingly immune to productivity growth, how quickly innovations can increase productivity, and AI’s potential impacts on inflation and interest rates.
Transcribe →Joe Kane on the Infrastructure Demands of AI Data Centers
Mar 600:41:49Tap to summarizeAs investment into Artificial Intelligence continues to grow, construction of AI data centers is significantly increasing the demand for electricity, water, and land use across the country. These centers can require the same amount of water as a fifty-thousand-person town and could represent 12% of overall US electricity consumption in the coming years. Inflexible supply creates the risk of rapid price increases while private and public sector leaders work to meet the growing demand. In this episode, we talk with Joe Kane, Fellow at the Brookings Institution, about why these AI data centers are so resource-intensive, their impact on local infrastructure, and the bottlenecks limiting quicker supply adjustments.
Transcribe →Bill Nelson on the Withering Fed Funds Market
Feb 2000:43:13Tap to summarizeThe Federal Reserve influences financial conditions through the federal funds market, a private market consisting of unsecured overnight interbank transactions. As the locus of money markets moves away from fed funds and more towards repos and SOFR, Dallas Fed President Lorie Logan has argued the current policy regime no longer suits the financial system. In this episode, we talk with Bill Nelson, Chief Economist and Chief Research Officer at the Bank Policy Institute, about the shifting nature of the fed funds market, what it would take to revive fed funds, and some alternative approaches to short-term rate policy.
Transcribe →George Pearkes on Kevin Warsh as Fed Chair
Feb 600:39:15Tap to summarizePresident Trump has nominated former Fed Governor Kevin Warsh to succeed Jerome Powell as Fed Chair later this year. Warsh called for “regime change” at the Fed last year, reiterating his long-held criticism of the Fed’s large balance sheet, data-dependence, and use of forward guidance. His tenure would begin with an already-divided FOMC and lingering worries surrounding threats to the Fed’s political independence. In this episode, we talk with George Pearkes, Macro Strategist with Bespoke Investment Group, about what Kevin Warsh brings to the Fed and how his leadership could drive monetary policy in the years ahead.
Transcribe →Lisa Simon on the Labor Market Impacts of AI
Jan 2300:31:23Tap to summarizeArtificial Intelligence (AI) is poised to disrupt the labor market by replacing certain tasks and enhancing the productivity of others. Although these changes could eventually lead to broader prosperity, they could also cause worker displacement, increase inequality, and decrease entry-level work opportunities. In this episode, we talk with Lisa Simon, Chief Economist of Revelio Labs, about the ways AI has already impacted the labor market, its diverse effects across occupations and industries, and what history can tell us about the longer-term future of work.
Transcribe →Jon Cantrell and S.J. Guzzo on the 2026 Banking Sector
Jan 900:30:14Tap to summarizeBanks enter 2026 with a positively sloped yield curve, steady deposit growth, and a favorable regulatory environment. The outlook for the economy and Fed policy is highly uncertain, however, posing risks to loan demand, net interest margins, and the appetite for adding duration to balance sheets. In this episode, we talk with FHN Financial’s Jon Cantrell and S.J. Guzzo about bank deposit and loan growth in 2026, the ways banks can position for different shapes of the yield curve, and how regulatory changes will impact banks’ decisions this year.
Transcribe →2025 Year in Review
Dec 2600:52:42Tap to summarizeThe US economy entered 2025 in a delicate balance but quickly faced several federal policy shocks. Tariffs, changes to immigration policy, and efforts to trim federal spending dominated headlines and complicated investors’ ability to identify underlying economic momentum. By the end of the year, the unemployment rate had risen to 4.6% but growth was tracking above 2%, inflation was above the Fed’s target but showed few signs of massive tariff pass-through, and the bond market was cautiously steady. In this episode, we talk with FHN Financial’s Chris Low and Sophia Kearney-Lederman about the biggest macroeconomic stories of 2025, what surprised us the most this year, and what we’ll be watching closely in 2026.
Transcribe →Tom Moerenhout on How Rare Earths Shape Trade Agreements
Dec 1200:33:02Tap to summarizeA set of elements called “rare earths” have been at the center of many international trade negotiations this year. Crucial to producing certain industrial and consumer products, rare earths can take more than a decade to discover and are expensive to refine. China’s dominant position in the global supply of rare earths is giving it leverage as US trade policies seek to redefine the international economy. In this episode, we talk with Tom Moerenhout, Professor at Columbia’s School of International and Public Affairs, about the importance of rare earths in the modern economy, their impact on international trade negotiations, and how the US can improve the resilience of our supply chain for rare earths.
Transcribe →Sue Spence on US Manufacturing in 2026
Nov 2800:32:44Tap to summarizeThe ISM Manufacturing survey has shown US firms have struggled to plan long-term amid this year’s fluid tariff policy landscape. Economic uncertainty and the lingering risks of policy reversal are limiting manufacturers’ confidence in making big investment or hiring decisions. Meanwhile, AI promises to increase demand for some manufacturing sectors while revolutionizing the production of others. In this episode, we talk with Sue Spence, Chair of the Institute for Supply Management (ISM) Manufacturing Business Survey Committee, about how tariff policies are influencing manufacturers’ long-term planning, AI’s impact on the operations and demands for manufacturing, and what worries manufacturers most heading into 2026.
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