Episode 3
Do markets need Fed rate cuts to keep climbing? Commonfund OCIO's Chief Investment Strategist Kris Kwait joins host Anita Hariton to unpack the latest macro dashboard, where employment is slowing, inflation remains stubborn above the Fed's two percent target, and leading economic indicators are turning positive. Kris explains why Commonfund rebalanced equity exposure back to neutral — selling into strength and rotating into core bonds and agency mortgages — and why the firm still expects only one to two rate cuts this year despite market optimism. The episode also tackles one of the most pressing questions from Commonfund clients: how to think about AI as an investment opportunity across public equities, venture capital, and hedge funds. Kris shares why AI is less a sector and more an innovation platform like the internet, and what Japan's robotics adoption tells us about AI's longer-term economic impact. The episode closes with the key signals Commonfund is watching most closely — corporate earnings, credit defaults, geopolitical risks, and the upcoming U.S. election.