{"podcast":{"title":"The Julia La Roche Show","slug":"the-julia-la-roche-show-5842803","podcast_index_feed_id":5842803,"rss_url":"https://anchor.fm/s/41aa63c4/podcast/rss","website_url":"https://podcasters.spotify.com/pod/show/julia-la-roche","image_url":"https://d3t3ozftmdmh3i.cloudfront.net/production/podcast_uploaded_nologo/10916857/10916857-1660085096509-ec2c80bf0ad2a.jpg","author":"Julia La Roche","episode_count":395,"summary":"Julia La Roche brings her listeners in-depth conversations with some of the top CEOs, investors, founders, academics, and rising stars in business. Guests on \"The Julia La Roche Show\" have included Bill Ackman, Ray Dalio, Marc Benioff, Kyle Bass, Hugh Hendry, Nassim Taleb, Nouriel Roubini, David Friedberg, Anthony Scaramucci, Scott Galloway, Brent Johnson, Jim Rickards, Danielle DiMartino Booth, Carol Roth, Neil Howe, Jim Rogers, Jim Bianco, Josh Brown, and many more. Julia always makes the show about the guest, never the host. She speaks less and listens more. She always does her homework.","last_synced_at":"2026-07-24T00:18:02.386758+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803"},"episode":{"title":"#379 Chris Whalen: The Bond Market Already Hiked, Why Double-Digit Inflation Is Still Ahead, And Kevin Warsh Sets New Tone at Fed","slug":"379-chris-whalen-the-bond-market-already-hiked-why-double-digit-inflation-is-still-ahead-and-kevin-warsh-sets-new-tone-at-fed","published_at":"2026-06-20T12:00:00+00:00","page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/379-chris-whalen-the-bond-market-already-hiked-why-double-digit-inflation-is-still-ahead-and-kevin-warsh-sets-new-tone-at-fed","show_page_url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803","url":"https://podcasters.spotify.com/pod/show/julia-la-roche/episodes/379-Chris-Whalen-The-Bond-Market-Already-Hiked--Why-Double-Digit-Inflation-Is-Still-Ahead--And-Kevin-Warsh-Sets-New-Tone-at-Fed-e3l1c3j","audio_url":"https://traffic.megaphone.fm/APO5239731554.mp3","summary":"Chris Whalen is back for The Wrap after his fishing trip in Maine, where he caught a 21-inch smallmouth bass! He's very positive on Kevin Warsh's "less is more" approach at the Fed—no forward guidance, likely removing the dot plot, and refocusing on letting the numbers speak for themselves rather than trying to control expectations through communication. Whalen argues the bond market has already delivered a rate hike on its own, and if he were Warsh, he'd wait and see how the Iran peace deal holds before making more moves, given that war inflation is transitory and external to Fed policy. He reveals the definition of inflation will likely be narrowed to minimize rate hikes and avoid tanking the economy, and he's watching a massive rebalancing from equities to bonds at record allocation levels. Whalen sold most of his AI stocks and locked in serious gains, but he's holding SpaceX as a long-term play given Elon's monopolies on space launch and global internet. He warns the AI bubble is going south with Mike Saylor and Bitcoin spiraling, sees gold and silver as a great entry point after being beaten down, and is adding to positions. He explains silver's manufacturing and technology demand while copper faces supply constraints. On Iran, Whalen argues the MOU doesn't solve underlying inflation drivers—diesel, fertilizer, energy ripple through the economy—so double-digit inflation is locked in with no Fed rate cuts coming. He's concerned about private credit festering with two-and-twenty fees still common, distressed debt exchanges now over 70% of defaults since 2022, and he likes Annaly as a mortgage REIT with government-insured assets and mortgage servicing rights providing protection. Whalen notes precious metals could still rise despite rate hikes because centr…","meta_description":"Chris Whalen is back for The Wrap after his fishing trip in Maine, where he caught a 21-inch smallmouth bass! He's very positive on Kevin Warsh's \"le…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2063,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-julia-la-roche-show-5842803/episodes/379-chris-whalen-the-bond-market-already-hiked-why-double-digit-inflation-is-still-ahead-and-kevin-warsh-sets-new-tone-at-fed/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-julia-la-roche-show-5842803/379-chris-whalen-the-bond-market-already-hiked-why-double-digit-inflation-is-still-ahead-and-kevin-warsh-sets-new-tone-at-fed.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}