December 17, 2025
“Is the Fed Becoming Irrelevant?” – The Fed cut rates last week, but does anyone care? Harry Melandri, senior advisor to MI2 Partners, joins Maggie Lake to discuss the outlook for US rates and inflation. As always, Harry brings his deep knowledge of central bank operations (he started his career at the Bank of England) and bond markets to the table. Harry is seeing signs of distress in the credit, but he is not convinced the Federal Reserve is going to be part of any solution. Harry is tracking some major structural changes that, if enacted, could have a profound impact on how we think about monetary and fiscal policy.
