Waiting For The Fat Pitch | “Recession Denier” Jonny Matthews on Real Slowdown In U.S. Economic Data

In this episode of Monetary Matters, Jack Farley interviews Johnny Matthews of Super Macro about his evolving macro view and trading strategies. Matthews discusses his shift from anticipating no recession to forecasting sluggish economic growth due to the impact of tariffs on business and consumer confidence, leading to slower job and income growth, and stalled consumer spending. He highlights concerns about the equity market being overvalued and the potential for stagflation, where inflation rises amidst economic slowdown and widening fiscal deficits. Matthews shares his bearish outlook on U.S. equities and suggests shorting the long end of the yield curve, while also expressing caution about the bond market's pricing of future Fed rate cuts. He also touches on the European economy, expressing a bullish outlook and favoring European equities over U.S. equities. Matthews also discusses his SuperMacro note, which provides economic data analysis and actionable trade ideas.