The changing of the guard at the top of the Federal Reserve comes at a crucial time for policymakers and markets. It is far from certain whether the promise of artificial intelligence heralds an era of stronger trend growth, or if the displacement in labor markets that might result will prove more damaging. Kevin Warsh’s term as Chairman will surely be defined as much by this question as his stated desire to reorient Fed policies and its mission. To discuss all of this, we are thrilled to welcome back Simona Mocuta, Chief Economist of State Street Investment Management.

The changing of the guard at the top of the Federal Reserve comes at a crucial time for policymakers and markets. It is far from certain whether the promise of artificial intelligence heralds an era of stronger trend growth, or if the displacement in labor markets that might result will prove more damaging. Kevin Warsh&rsquo;s term as Chairman will surely be defined as much by this question as his stated desire to reorient Fed policies and its mission. To discuss all of this, we are thrilled to welcome back&nbsp;Simona Mocuta, Chief Economist of State Street Investment Management.

Street Signals is a weekly podcast packed with insights about the latest developments in financial markets from State Street Markets. Leveraging new tools, proprietary data and deep expertise, the Markets research team delivers highly valued market analysis on a daily basis to the world’s leading institutional investors. Join Street Signals' host, Tim Graf, State Street’s Head of Macro Strategy for EMEA, as he discusses the most important matters moving markets with guests from State Street and industrywide. 

Street Signals is a weekly podcast packed with insights about the latest developments in financial markets from State Street Markets. Leveraging new tools, proprietary data and deep expertise, the Markets research team delivers highly valued market analysis on a daily basis to the world&rsquo;s leading institutional investors. Join Street Signals' host, Tim Graf, State Street&rsquo;s Head of Macro Strategy for EMEA, as he discusses the most important matters moving markets with guests from State Street and industrywide.&nbsp;

Street Signals

Street Signals is a weekly podcast packed with insights about the latest developments in financial markets from State Street Markets. Leveraging new tools, proprietary data, and deep expertise, the Markets research team delivers highly valued market analysis on a daily basis to the world’s leading institutional investors. Join Street Signals' host, Tim Graf, State Street’s Head of Macro Strategy for EMEA, as he discusses the most important matters moving markets with guests from State Street and industrywide.

Street Signals is a weekly podcast packed with insights about the latest developments in financial markets from State Street Markets. Leveraging new tools, proprietary data, and deep expertise, the Markets research team delivers highly valued market analysis on a daily basis to the world&rsquo;s leading institutional investors. Join Street Signals' host, Tim Graf, State Street&rsquo;s Head of Macro Strategy for EMEA, as he discusses the most important matters moving markets with guests from State Street and industrywide.

AI, Labor Disruptions and the Future of the Fed

A wider Middle East war and the closure of the Strait of Hormuz, seen for years as extreme ‘what-if’ risks, are now realities. The ranges of macroeconomic and geopolitical outcomes are as vast as they are unknowable, but reasonable future scenarios are starting to take shape. This week, we speak to Elliot Hentov, Chief Macro Policy Strategist at State Street Investment Management, about the evolving conflict in Iran and the market implications for a prolonged disruption in one of the world’s key energy chokepoints.

A wider Middle East war and the closure of the Strait of Hormuz, seen for years as extreme ‘what-if’ risks, are now realities. The ranges of macroeconomic and geopolitical outcomes are as vast as they are unknowable, but reasonable future scenarios are starting to take shape. This week, we speak to Elliot Hentov, Chief Macro Policy Strategist at State Street Investment Management, about the evolving conflict in Iran and the market implications for a prolonged disruption in one of the world’s key energy chokepoints.

Strait Signals: Assessing the Iran War Risk Premium

While geopolitical uncertainty dominates headlines, this week’s episode digs deeper into themes driving markets before the weekend’s events — particularly the sharp rotation in equities in 2026 and the reassessment of crowded AI‑linked trades and their fundamental drivers. Cayla Seder, senior multi-asset strategist at State Street Markets, speaks to the shifting market perceptions around AI, the scale of hyperscaler investment, the growing role of debt financing in the tech sector and how technology's potential to transform the economic outlook is likely to play out.

While geopolitical uncertainty dominates headlines, this week&rsquo;s episode digs deeper into themes driving markets before the weekend&rsquo;s events &mdash; particularly the sharp rotation in equities in 2026 and the reassessment of crowded AI‑linked trades and their fundamental drivers. Cayla Seder, senior multi-asset strategist at State Street Markets, speaks to the shifting market perceptions around AI, the scale of hyperscaler investment, the growing role of debt financing in the tech sector and how technology's potential to transform the economic outlook is likely to play out.

The Great Rotation: Stocks Under the Surface

Market volatility continues to climb in February, with a landmark Supreme Court ruling on US tariffs last week upending US trade policy in an afternoon. Questions now circle as to whether last years trade-induced USD weakness that was expected to continue into 2026 is now at risk of reversal. Meanwhile, the yen's tumble under Takaichi-nomics has resumed, equities and gold remain choppy and many long-dormant correlation relationships are starting to reassert themselves. Managing risk remains a constant challenge, as Dan Mazza, head of FX Forwards trading in the Americas at State Street Markets, highlights in this week's episode.

Market volatility continues to climb in February, with a landmark Supreme Court ruling on US tariffs last week upending US trade policy in an afternoon. Questions now circle as to whether last years trade-induced USD weakness that was expected to continue into 2026 is now at risk of reversal. Meanwhile, the yen's tumble under Takaichi-nomics has resumed, equities and gold remain choppy and many long-dormant correlation relationships are starting to reassert themselves. Managing risk remains a constant challenge, as&nbsp;Dan Mazza, head of FX Forwards trading in the Americas at State Street Markets, highlights in this week's episode.

AI, Labor Disruptions and the Future of the Fed

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