In this new episode of The Hale Report, Lyric Hughes Hale sits down with Bluford "Blu" Putnam, a distinguished economist with over 35 years of experience in financial services, including central banking, investment research, and portfolio management. As the former Chief Economist at CME Group, he brings a deep understanding of market volatility, monetary policy, and global trade dynamics.
🔑 Key Insight: Putnam explains why it’s critical to distinguish between uncertainty and risk in today’s economic climate.
They also discuss his new book, The Apprenticeship of Warren Buffett—a fascinating look at Buffett’s early years, before he became the legendary investor we know today. In other words, Warren Buffett before he became Warren Buffett.
💬 If you are feeling nervous about markets and the economy, this podcast provides highly useful perspectives.
🎤 Key Moments
❝ Interest rates aren't the magic wand they used to be.
❝ We lived in Pax Americana for 25 years, where trade was free, and inflation was stable. That era is over.
❝ Quantitative easing works wonders in a crisis but does little to boost growth otherwise.
❝ AI is great at diagnosing the past, but not at predicting the future.
❝ Buffett wasn’t just a numbers guy—he understood the human side of investing.
❝ If you can’t tell a compelling story, your economic analysis won’t matter.
❝ In markets, the middle ground is never where you'll end up.
💬 Join the Discussion (feel free to share this podcast)
What do you think about Blu Putnam’s perspective on markets and monetary policy? Do you agree that we are in a period of long-term economic transition?
🔍 More from Blu Putnam
In addition to his new book, Blu has written:
📌 Economics Gone Astray – A critical look at why economists get so much wrong
📌Analyzing the Pandemic of 2020 – Using physics to understand economic transitions and disequilibrium
📍Chicago
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