UBS’ Paul Donovan on Tariff Trouble, Swiftonomics & Republican Swings | #579

Today’s guest is Paul Donovan, Chief Economist of UBS Global Wealth Management.

In today’s episode, Paul discusses the impact of structural changes in the economy, particularly in relation to flexible working and demographic shifts. The discussion also touches on the disparities in innovation between the US and Europe, the ongoing trend of spending on experiences rather than goods, and the role of AI in enhancing productivity.

(0:00) Starts

(2:37) Economic uncertainty, tariffs, and inflation

(12:41) Consumer behavior & spending trends, and perceptions

(18:22) Japan's economic shifts and demographic challenges

(21:38) Reliability issues in economic data and surveys

(31:44) Bad economic policies

(38:36) The role of the dollar in the global financial system

(44:41) Investment perspectives

Recorded April 2, 2025

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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

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