Monthly Archives: June 2021

FEATURE

How Long Will the Chips Be Down? The Global Semiconductor Chip Shortage with Deborah Koch

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As the U.S. economy continues to reopen amid relaxed COVID-19 mitigation measures, pent-up demand is outstripping supply in many cases. One acute example is in the semiconductor chip industry, which provides “the brain” inside a wide range of products that power our modern lives, including smartphones, cars and even washing machines. 

In this episode, Northern Trust’s Katie Nixon is joined by Senior Technology Analyst Deborah Koch to sort through this important topic and answer some key questions: How long will the global chip shortage last? What consequences could it have on inflation and the economy? What regulatory response will ensue? 

Deborah discusses:

  • An overview of the semiconductor industry and its role in the technology ecosystem 
  • An estimate of how long it will take to fix the supply-demand mismatch
  • Corporate and government responses to the strategic issues laid bare by the shortage 
  • The long-term outlook for the chip industry as companies pursue digital transformations
  • And more

About Guest:

Deborah Koch is a senior equity research analyst at Northern Trust focused on the technology sector. With more than 30 years of experience, she has built a track record of leveraging forward-thinking vision to identify and help clients benefit from market shifts in the technology sector. Before joining Northern Trust, Deborah held several senior analyst and portfolio management roles at well-known asset managers. She is a CFA® charterholder.

FEATURE

Inflation: Is It Different This Time? With Carl Tannenbaum

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Summary:

Concerns about inflation have filled financial headlines recently as U.S. consumers reemerge from their homes and take note of higher prices and supply shortages in certain areas of the economy. But will higher inflation last? Or will it quickly revert back to more modest levels seen in recent decades? 

In this episode, Northern Trust’s Katie Nixon is joined by Chief Economist Carl Tannenbaum to sort through this important topic, which has significant implications for the economy, markets and investors’ portfolios. 

Carl discusses:

  • What’s at stake when it comes to inflation — why containing inflation is important in the first place
  • The two broad categories of inflationary forces: cyclical and secular  
  • The drivers of recent spikes in consumer and producer prices
  • Why housing market inflation bears watching over the coming months 
  • Northern Trust’s near- and longer-term outlook for inflation 
  • And more

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About Guest:

Carl Tannenbaum is a chief economist at Northern Trust. In this role, Carl briefs clients and colleagues on the economy and business conditions, prepares the bank’s official economic outlook and participates in forecast surveys. He is a member of Northern Trust’s investment policy committee, capital committee and asset/liability management committee. Prior to working at Northern Trust, Carl spent four years leading the Federal Reserve’s risk section and was deeply involved in the central bank’s response to the 2008 financial crisis.