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Podcast: Money Life with Chuck Jaffe
Episode: BNY Mellon's Jolly: Credit crunch will create hard landing but fast recovery
Description: Jake Jolly, head of investment analysis at BNY Mellon Investment Management, says that recent turmoil in the banking industry 'will do the additional work' of tightening credit conditions to get inflation down, but creating a recession in the process, with the downturn taking hold late this year or in 2024. Because this recession is 'a typical, monetary-policy induced recession,' Jolly expects that policy can normalize quickly, which should limit the downturn to the short time it takes to slay the inflation dragon. Also on the show, Tom Lydon, vice chairman at VettaFi, makes a niche-focused financial-services fund his ETF o...