Business
Once President Nixon had abandoned the gold standard, the US could expand its money supply without being constrained by its holdings of bullion. This made it easier to issue debt to finance growth. This ability has been important in supporting the economy during the pandemic. Unprecedented monetary stimulus saw the pandemic-led recession last just two months, the shortest ever, but as financial markets grow increasingly dependent on the waves of central bank liquidity, there may be aftershocks as it is withdrawn. SUBSCRIBEStay up to date with our latest insights, subscribe to our mailing list here and choose the topics you’re interested in: https://bit.ly/2SKomDqGET IN TOUCH:Have any feedback? We're listening, email us at: podcast@smithandwilliamson.comFOLLOW US:Twitter - @SmithWilliamsonLinkedIn - @Smith&WilliamsonThis episode was recorded on 31/08/2021Capital at risk. Please remember the value of investments and the income from them can fall as well as rise and investors may not receive back the original amount invested. Past performance is not a guide to future performance.This S&W The Pulse podcast is of a general nature and is not a substitute for professional advice. No responsibility can be accepted for the consequences of any action taken or refrained from as a result of what is said. The views expressed are not necessarily those of the presenter or of Smith & Williamson or any of its affiliates. No reproduction of this podcast may be made in whole or in part for professional or recreational purposes. No action should be taken based on this podcast and we accept no liability if we change your views on any of the subjects mentioned. Smith & Williamson Investment Management LLPAuthorised and regulated by the Financial Conduct Authority. Registered No 580531