Fed “moderation”, windfall OAG taxes in UK, and building an exchange: The Week Ahead – 5 Dec 2022

Complete Intelligence

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On Wednesday, Jay Powell talked and said “The time for moderating the pace of rate increases may come as soon as the December meeting.” The JOLTs data that came from Wednesday showed a slowing in job openings and the employment data from Friday was still strong but moderated a bit. With China announcing some changes to lockdowns, how worried should we be about commodity prices, given the “moderating” Fed? Albert Marko leads the discussion on this.

We also saw the UK announce windfall oil & gas taxes last week. We’ve seen a slew of announcements to halt investment. This is something that Tracy called out well before the windfall tax was announced. What will the impact be and how did the UK government think this would go over? Tracy explains this in more detail.

Given the LME nickel issues, FTX, etc., credibility is a concern at times. Why do these systems fail? What should people who trade know about exchanges that nobody tells them? Josh shares his expertise on what it’s like to build an exchange.

Key themes:
1. Fed “moderating the pace…”
2. Windfall oil and gas taxes in the UK
3. What’s it like to build an exchange?

This is the 44th episode of The Week Ahead, where experts talk about the week that just happened and what will most likely happen in the coming week.

Follow The Week Ahead panel on Twitter:
Tony: https://twitter.com/TonyNashNerd
Albert: https://twitter.com/amlivemon
Josh: https://twitter.com/JoshCrumb
Tracy: https://twitter.com/chigrl
Time Stamp:
0:00 Start
0:45 Key themes for this episode
1:45 Fed's "moderation" and the job markets
5:45 GDP revision on the back of crude export from the US
10:25 How much of Powell's moderation is predicated on China's opening?
11:30 Why does the Russian price cap make the price of oil go up?
15:38 Windfall oil and gas taxes in the UK
22:00 Will other countries also put windfall tax?
23:57 What is an exchange and why do problems emerge?
29:55 Is it possible to separate exchange and brokerage?
32:30 What people should know about an exchange?
Watch on Youtube: https://youtu.be/EqRSaIQmgv0