Steve Englander – US Macro Outlook: Resilience, Risks and Market Implications

About this episode

Steve Englander discusses the evolving US macro landscape and its implications for the market.

In this episode, Steve Englander, Global Head of G10 FX Strategy and North American Macro Strategy at Standard Chartered Bank, discusses the evolving US macro landscape heading into Q4. He examines the Fed's recent rate cut, the implications of rising productivity on the neutral rate, and the early impact of AI on the labour market. Steve shares his views on US dollar positioning, potential challenges to Fed independence, and downside risks to Canadian growth and currency performance. He also addresses the durability of the current carry trade environment and the broader implications of policy-driven market volatility. This episode was recorded on September 30, 2025.

People in this episode

Guest: Steve Englander

Topics covered

• US macro outlook
• Fed rate cut
• AI impact on labor market
• US dollar positioning
• Canadian growth risks
• market volatility

Keywords

• US macro
• Fed rate cut
• productivity
• AI labor market
• currency performance
• carry trade
• market volatility

Mentioned in this episode

Organizations: Standard Chartered Bank, Fed

Places: US, Canada

More episodes of Get Sharpe

• Everyone's talking Hormuz, but here's what they're missing · May 29, 2026 · 34 min
• A Conversation with Geopolitical Strategist Marko Papic on Oil, AI, and Inflation Risks · May 5, 2026 · 30 min
• Ben Rabidoux - What’s driving Canada’s housing market · March 26, 2026 · 29 min
• Jens Nordvig – Fed Independence and the next market repricing · February 27, 2026 · 33 min
• Joseph Briggs – AI capex: signal or noise? · January 22, 2026 · 23 min
• Brent Donnelly – Alpha in practice: How he reads markets and manages risk · November 27, 2025 · 37 min