Tag Archives: Market


Inflation: Is It Different This Time? With Carl Tannenbaum


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

Related Insights:

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.


Value’s Uprising: Fête or Renaissance? – with Michael Hunstad and Chris Shipley

Does value investing still work?

After many years of underperformance, value stocks have shown signs of life in 2021 as investors’ conviction in strong economic recovery has gained momentum. 

Is this a turning point for value, or simply a short-term pop? Will value redeem itself, or will investors find their way back to growth stocks over the long term? Is something different this time? 

To help investors answer these important questions — which have important portfolio implications —  Northern Trust’s Katie Nixon is joined by the firm’s head of quantitative strategies, Michael Hunstad, and head of fundamental equities, Chris Shipley.

In this episode, you will learn:

  • If value really is a compensated risk factor 
  • The valuation metrics and other criteria Northern Trust uses to define value and identify opportunities  
  • The reasons behind value’s underperformance relative to growth in recent years
  • What needs to happen for value to sustainably outperform again
  • How to avoid value traps 
  • If and how to maintain exposure to both value and growth stocks 

Listen in as Katie, Mike and Chris explore the evidence and provide practical suggestions for investors grappling with the growth versus value conundrum. 

Resources:  Northern Trust | Katie Nixon | Michael Hunstad | Chris Shipley