Macro Hive Conversations With Bilal Hafeez

William W. Beach is the Senior Fellow in Economics at the Economic Policy Innovation Center (EPIC) and the Coffin Fellow at the Calvin Coolidge Presidential Foundation. Beach also serves on the UKG Workforce Institute Advisory Board. Prior to these appointments, Beach was the fifteenth Commissioner of Labor Statistics at the Bureau of Labor Statistics in Washington, DC. He took up his duties there on March 28, 2019. Prior to joining BLS, Dr. Beach was vice president for policy research at the Mercatus Center at George Mason University from February of 2016 to March of 2019; and, prior to that served as the Chief Economist for the Senate Budget Committee, Republican Staff, from 2013 through early 2016. In this podcast, we will discuss: The "Fiscal Precipice" The "Crowd Out" Effect Social Drivers of Debt The "Undemocratic" Tax System The Social Security Countdown The Future of "Enhanced Labour" The Data Response Crisis Modernising Federal Statistics

Daniel Rasmussen is the founder and managing partner of Verdad Advisers, an investment firm with over $1 billion in assets under management across multiple asset classes. He is the author of The Humble Investor (2025) and American Uprising (2011). Prior to founding Verdad, he worked at Bain Capital Private Equity and Bridgewater Associates. In this podcast, we discuss: Investing as Meta-analysis The Evolution of Private Equity Stranded Software Assets The Private Credit Mirage The "Adjusted EBITDA" Trap Small-Cap Growth Dangers The AI Capex Cycle AI Productivity Mindset

Dr. Dirk Willer is a Managing Director and Global Head of Macro and Asset Allocation at Citi Research in New York. Prior to this role, Dirk headed global Emerging Market Strategy, where he and his teams were consistently ranked in the top three in the institutional investor surveys. Previously, Dirk worked at Omega Advisors and RHG Capital as a global macro strategist and portfolio manager, and at Swiss Bank as a fixed income strategist for Russia and Eastern Europe. Dirk holds a PhD and MSc in Economics from the London School of Economics. Dirk is also the author of an influential book on how to trade emerging market fixed income, published by Wiley in 2020, and of a book on global macro trading, released in 2026. In this podcast, we discuss: Unlearning the QE Reflex Trading "Close to the Fire" The Nearest Neighbour Regime Framework PMIs vs. "Noisy" Indicators Yield Curve Inversions and Fed Lags The "GMO" Bubble Methodology Credit as the Equity Canary The Four-Indicator Dollar Model Fading Geopolitical Shocks The Role of Human Judgment in AI

Shawn Edwards is Bloomberg's Chief Technology Officer. Based in New York, he oversees the development of Bloomberg's global technology strategy. In 2017, Shawn was named in the top ten of the Institutional Investor Tech 40 – an annual ranking of financial industry technology leaders. Prior to joining Bloomberg in 2003, Shawn worked for Bear Stearns & Co., where he was a managing director in the company's fixed income trading group. He has also held positions at Mentor Graphics and IBM. In this podcast, we discuss: Engineering Trust through "Entailment" Automating "The Bloomberg Way" ASKB: Reimagining the Terminal Workflow-Specific AI Expansion Actionable Alternative Data Empowering Non-Programmers Accelerating Data Onboarding Competition vs. Domain Knowledge A Cautious View on AGI

Tina Fordham is a Geostrategist, Author and Advisor to board and C-Suite leaders on a mission to transform how leaders navigate the changing global environment. Her signature theses on the Geopolitics Supercycle, PQ (Political Quotient) and Vox Populi Risk have entered the popular lexicon, while the tools developed by Fordham Global Foresight have demonstrated how geopolitics can be integrated into business strategy. Fordham was Wall Street's original Chief Global Political Analyst, spending 17 years at Citigroup. She created Eurasia Group's financial markets research business; was appointed to the United Nations' first HighLevel Panel on Women's Economic Empowerment; and has served as a Senior Advisor to the U.K. Prime Minister and 2-and 3-star Generals. Tina is a member of the International Advisory Boards of Columbia University's School of International and Public Affairs, her alma mater, and Cambridge University's Centre for Geopolitics. She hosts "The Navigator", produced in collaboration with the London Stock Exchange, and is a frequent guest on CNN, CNBC and Bloomberg. Her forthcoming book, Mad World: A Geostrategy Survival Guide for Business Leaders, will be published in July 2026 by Whitefox. In this podcast, we discuss: The Geopolitics Super Cycle The 1973-Scale Oil Shock Europe's "Barely Controlled Panic" The 2026 Greenland Maneuver Venezuela and the Iran "Jujitsu" Move China's "Silent" Advantage The Rise of Middle Powers Raising Your "PQ" (Political Quotient) You can follow Tina's work on X, LinkedIn, and the Fordham Global Foresight website. You can also contact Tina here,

Sean McGould – the founder/CEO of the Lighthouse Group – an approximately $17 billion investment management firm. Prior to Lighthouse, Sean was the Director of the Outside Trader Investment Program for Trout Trading Management Company. Before joining Trout, he worked for Price Waterhouse in auditing and corporate finance. In this podcast we discuss: The Multi-Strategy Investment Approach The Selective "War for Talent" Adapting to Trump 2.0 Volatility Targeting Real Returns vs Gold AI: A Digital Tool, Not a Total Bubble Redefining Value in the Digital Age Japan's Shareholder Value Pivot Centralised Planning Risks in China Patience in Tight Credit Markets The 2026 Macro Outlook You can get more information on Sean's firm here The commentary contained in the above article/podcast does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.

Rory Johnston is a Toronto-based oil market researcher, the founder of Commodity Context, a lecturer at the University of Toronto's Munk School of Global Affairs and Public Policy, as well as a Fellow with both the Canadian Global Affairs Institute and the Payne Institute for Public Policy at the Colorado School of Mines. Prior to founding Commodity Context, Rory led commodity economics research at Scotiabank. In this podcast, we discuss: Trump's Bullish Paradox Importance of China's SPR Why OPEC+ Hiked Production The "Oil on Water" Overhang Venezuela and Iran 2026 Outlook US Shale's H2 Roll-over Long term demand outlook

Robert is Founder, Chief Investment Officer and the Managing Partner of the $5bn EM fund, Gramercy. He founded Gramercy in 1998. Robert has 36 years of investment experience dedicated to emerging markets with a specialization in distressed opportunistic credit strategies. He is a member of Gramercy's Management Team and is Co-Chair of the Risk Management Committee. In this podcast we discuss: EM in 2025: From Caution to FOMO EM vs DM: A Role Reversal Since COVID The Problem with EM Labels & Indices China: From 'Uninvestable' to Selective Opportunity Russia–Ukraine: Asymmetry, Reconstruction, and Market Blind Spots The Boom in EM Private Credit Where the Opportunities Are in EM Private Credit Mexico, NAFTA 2.0, and Geopolitics Venezuela and the 'Trump Corollary to the Monroe Doctrine' Fed Policy: The Only Conviction Is Lack of Conviction Portfolio Philosophy: Fighting FOMO and Overtrading