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07 February 2025 Economics & Growth | US

Ep. 254: Jonny Matthews on US Economy and Why the Fed Will Not Cut in 2025

Bilal Hafeez

By Bilal Hafeez
1 min read

Jonny Matthews is a senior portfolio manager at Fortem Capital and creator of SuperMacro, an institutional-level macroeconomic research platform. Before that, he spent 12 years as a partner at Brevan Howard, where he managed a $500 million investment portfolio. Earlier in his career, Johny spent 11 years at Citigroup, leading a team in equity derivatives trading following the acquisition of Salomon Brothers, where he began his career. His expertise spans fixed income, equities, FX, credit, and derivatives strategies, including relative value and volatility arbitrage trading. This podcast covers:

Lessons learned during his time at Saloman Brothers and Brevan Howard
Experience of trading before the GFC
Thoughts on the US economy – growth, inflation and tariffs
Fed and rates view
Is a stronger dollar now inevitable – including Europe and UK overview?
Outlook for US equities and AI implications
Thoughts on Germany and Euro-area
Views on the rest of the world (Japan, China)
Favourite trades
Books mentioned: Market Wizards (Schwager), Liar’s Poker (Lewis), This Time Is Different: Eight Centuries of Financial Folly (Reinhart, Rogoff)

You can follow Jonny here and here.

Make sure to subscribe to the show on Apple, Spotify, YouTube, or wherever you go for your podcasts. You can follow us on Twitter and LinkedIn.

(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)

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