# Jim Bianco: The Fed Should Hike—And Wall Street May Be Fine With It

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Podcast: [Biz Talk Today TV](https://stenobird.com/podcast/the-weekly-money-clip-6866050)
Published: 2026-09-09T20:35:00+00:00
Episode link: https://traffic.megaphone.fm/FPMN3778303700.mp3
Audio file: https://traffic.megaphone.fm/FPMN3778303700.mp3
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Duration seconds: 2239

## Resource

What if 5% Treasury yields aren't the market disaster investors have been conditioned to fear? On this episode of The Money Path, host Todd M. Schoenberger sits down with Jim Bianco, President of Bianco Research, for a wide-ranging discussion about interest rates, inflation, the Federal Reserve, housing, artificial intelligence and why the investment environment may require Wall Street to rethink some of its old assumptions. Bianco argues that a 10-year Treasury yield around 5% doesn't automatically spell trouble for stocks. His bigger point: interest rates should ultimately reflect the economy's nominal growth rate. Rates held artificially low can encourage poor capital allocation, while excessively high rates can choke off productive investment. That becomes particularly important in the AI infrastructure boom. Bianco argues that projects capable of generating sufficiently high returns can continue attracting capital even in a higher-rate environment. The pressure instead falls on marginal investments that only made economic sense when money was exceptionally cheap. The conversation then turns to one of America's most difficult economic problems: housing affordability. Bianco argues that lower mortgage rates alone won't solve the problem because the underlying constraint is housing supply. Local zoning restrictions, development limitations and resistance to new construction can prevent supply from responding to demand—even when financing conditions improve. Then comes inflation. Bianco explains why he believes inflation remaining around 3% presents a continuing challenge for the Federal Reserve and makes the case for why policymakers may need to keep monetary policy restrictive—or potentially tighten further. Todd and Jim examine the economic signals that could influ…

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