Libby Cantrill, Head of Public Policy, PIMCO

About this episode

Libby Cantrill discusses the implications of rapidly changing US fiscal policy and its impact on investor behavior amidst global uncertainties.

It is busy time, to say the least, for Libby Cantrill, Head of Public Policy at PIMCO. Today’s markets are grappling with vast uncertainties…in US fiscal policy, in Fed independence and leadership, in geopolitics, and in global trade. Libby is charged with helping both the clients and risk-takers of PIMCO better understand the implications of policy that is changing rapidly. Through her conversations with institutional, retail, and international clients, she outlines how uncertainty around US policy has become a central driver of investor concern early in 2026. Our discussion highlights how recent geopolitical developments — including tensions with Europe, rhetoric around Greenland, and renewed trade disputes — have amplified questions around US credibility and global leadership. Throughout the conversation, Libby frames the current environment as one in which policy volatility, rather than policy outcomes alone, is shaping investor behavior. Tariffs, fiscal deficits, and election-driven incentives have created a backdrop where markets must continuously reassess tail risks. We explore the challenge of reigning in US entitlements. Here, she describes two potential forcing…

People in this episode

Host: Dean Curnutt

Guest: Libby Cantrill

Topics covered

• US fiscal policy
• Fed independence
• geopolitics
• global trade
• investor behavior
• policy volatility

Keywords

• PIMCO
• fiscal policy
• geopolitical developments
• investor concern
• policy volatility
• entitlement shortfalls
• bond market pressure

Mentioned in this episode

Organizations: PIMCO

Places: US, Europe, Greenland

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