65: Changing of Lagarde: Why personalities matter for central banks

Christine Lagarde has a CV that makes many of us jealous: partner at the prestigious law firm Baker McKenzie by age 31, finance minister for France during the financial crisis, Chairman of the G20 in 2011 before becoming Managing Director of the International Monetary Fund, and most recently, nominated to the presidency of the European Central Bank.  In this episode, we’re discussing how investors can look at changes of central bank leadership and why they matter for dealing with both the ‘five minutes to midnight’ problems and the much less pressing but no less important structural issues facing developed economies. Where many have praised Lagarde’s (small-p) political skills, how can we contrast this to market fears about Jerome Powell over at the Federal Reserve? And here at home, what can we expect from the as-yet unknown replacement for Mark Carney? Read Hetal’s post on Lagarde’s appointment on our Future World Blog: https://futureworldblog.lgim.com/categories/insights/ecb-the-changing-of-lagarde/?cid=lgimtalks ·         Hetal Mehta, Senior European Economist ·         Chris Jeffery, Strategist ·         Mark Chappel, Senior Content Manager We want to hear from you! Email us at mark.chappel@lgim.com with your thoughts on the podcast and any suggestions of the guests or types of content you’d like to see covered. This podcast is intended for investment professionals, and shouldn’t be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in Legal & General investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of Legal & General Investment Management. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.

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What does a changing world mean for my portfolio? Which asset classes are undervalued? Will declining demographics affect my investments? From L&G’s Asset Management division, we bring you conversations about the global economy and how professional investors can take advantage of these opportunities. We'll be talking to fund managers, analysts, industry experts and more to discuss the latest market and political developments, their most exciting asset allocation ideas and how they're optimising portfolios for market booms and economic gloom. From Trump's tariffs to irrational investors, L&G Talks Asset Management dives into the world of asset management and brings you our most compelling thoughts to help you make informed investment decisions. To find out more, visit https://am.landg.com/en-uk/institutional/insights/ L&G has been helping customers since 1836. A founding member of the Financial Times Stock Exchange (FTSE) 100 index, L&G is one of the UK's leading financial services companies serving UK customers for our life assurance, pensions, investments and general insurance plans.  This podcast is intended for investment professionals, and shouldn't be shared with a non-professional audience. This podcast should not be taken as an invitation to deal in L&G investments. Any views expressed during this recording belong to the individuals and are based on market conditions at the time of recording, and do not reflect the views of L&G. Legal & General Investment Management is authorised and regulated by the Financial Conduct Authority. Legal & General Investment Management, One Coleman Street, London, EC2R 5AA. Register in England no. 2091894. All rights reserved. No part of this audio may be reproduced in whole or in part without the prior written consent of Legal & General Investment Management.