This podcast episode explores the Federal Reserve's stance on interest rates, with Fed Chair Jay Powell indicating that rates will stay higher for a longer period, but without committing to a specific timeline for rate cuts. The episode discusses the Fed's previous asset purchases, its balance sheet, and the potential impact of its future moves on borrowing costs. It also mentions the slowdown in the pace of quantitative tightening and the uncertainties surrounding achieving a soft landing without causing a recession. The episode briefly touches on the successful public trading of cruise line Viking and its market capitalization, as well as HSBC's challenges in its pivot to China and the slow reopening of the IPO market.