Interview: Updated Economic Outlook and Lots of Other Stuff

Here’s an interview I did with Jack Forehand and Justin Carbonneau on the Excess Returns podcast. We cover a huge amount of ground in this one including:

• Updated economic outlook
• Inflation outlook, tariffs, and the Fed’s “soft landing” challenge
• The importance of Fed independence and risks of politicization
• Immigration, demographics, and long-term disinflationary trends
• How AI is reshaping productivity, inequality, and the job market
• Defined Duration Investing and asset-liability matching
• Lessons from all-weather strategies and the Permanent Portfolio
• My new book and my favorite chapter about the “Forward Cap Portfolio”

I especially enjoyed the YouTube comments on this one. It appears that I successfully annoyed both political parties, which probably means that most of my comments are exactly correct. I hope you enjoy it.