MacroVoices Erik Townsend &amp; Patrick Ceresna welcome, Viktor Shvets. They discuss everything from Hormuz to Inflation signals to precious metals to the k-shaped economy. https://bit.ly/4wHXdyt ✅Sign up for a FREE 14-day trial at Big Picture Trading: https://secure.bigpicturetrading.com/membership/signup/fOY4YJYX 🔴 Subscribe to Patrick’s Youtube Channel: https://www.youtube.com/@Patrick_Ceresna 🔴 Subscribe to Erik&#x27;s Substack: https://eriktownsend.substack.com/

MacroVoices #544 Viktor Shvets: How Markets Survive Disruption

Macro Voices

We're living in a desinflationary world. I think Kevin Warsh and I think Scott Bassens are absolutely correct. That desinflation is a dominant longer term trend. That was Viktor Shvets. I'm Erik Townsend, and this is Macro Voices, the free weekly podcast targeting professional finance and sophisticated private investors. Episode 544 was produced August 6th, 2026.

In this episode, Viktor Shvets and I will discuss everything from Hormuz to inflation signals to precious metals to the K-shaped economy. And I'm Patrick Ceresna. Let's dive straight into this interview. Viktor, it's great to get you back on the show. It's been too long, almost a couple of years, I think. The last time I had you on was in 2024. My question to you then was whether central banks have become too political.

Now, since then, the president has installed his own personal Fed chair. So I think we got the answer to that question. But I still want to come back to it and get your perspective. From a 2026 perspective, how do you assess the new Fed, I'll call it, the Fed under Warsh's leadership? And I would go so far as to say that it's really the Fed under Warsh's leadership with maybe Bassett tag teaming a little bit and participating in some of that policy setting.

You're absolutely right, Erik Townsend. And it's great to be on your show. I think the first thing one has to recognize that compared to 2024, there has been a dramatic shift in the way US Supreme Court is sinking off or is basically laying the law on a very simple concept of executive responsibility.

MacroVoices #544 Viktor Shvets: How Markets Survive Disruption

Read the full transcript

The candid version is on a podcast,
not the earnings call.

MacroVoices #544 Viktor Shvets: How Markets Survive Disruption

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.