Federal Reserve

The U.S. federal government has become one of the more active equity investors in strategic industry, and it has happened with remarkably little fanfare. Since January 2025, Washington has announced roughly $27.6bn across 37 deals involving equity or quasi-equity stakes in public and private companies. The stakes span semiconductors, critical minerals, quantum computing and energy, with the first two sectors alone accounting for more than 80% of total deal value.

Mohit Kumar, Jefferies’ Chief Economist and Strategist for Europe, discusses central bank policy, the potential for recession, and why a market rebound may be on the horizon.

David Zervos is skeptical the Fed will be able to quickly declare victory over inflation and expects that a solid economic outlook should translate to a more restrictive Fed, for a longer duration.

Jefferies economists take the temperature of the US economy, offering predictions on rate hikes, the labor market, and slowing inflation.