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Enterprising Investor

Formerly Guiding Assets, Enterprising Investor is the flagship podcast of CFA Institute and the definitive program for the investment management industry. As stewards of the investment industry, Guiding Assets will feature intimate conversations with some of the most influential people from the world of finance about the topics that matter most to investment professionals. The show will also share crucial insights and best practices to help guide investors to make smart, ethical decisions. Enterprising Investor will continue to help build a better world for investors.

Host: Mike Wallberg, CFA

Producer: Mitchell Forst 

Aug 11, 2021

In this conversation about the economy and monetary policy, Cheryl I. Smith, CFA, economist and portfolio manager at Trillium Asset Management, discusses the Federal Reserve’s strategy of flexible average inflation targeting, the role of Central Banks in solving social problems, and what history teaches us about tackling financial crises.
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📃 Transcript
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 Episode Breakdown:
1:30 How have financial crises shaped policy and where we are today?
4:46 One piece of wisdom Cheryl would impart to investors.
7:00 Cheryl explains what prompted the major shift in the Federal Reserve and the new approach to monetary policy and why it’s significant.
11:46 Should central banks take an active role in tackling wider societal change challenges?
13:56 Lauren asks Cheryl what she will be listening for at the next Jackson Hall Conference and if she expects to hear anything different than before. 
15:05 If you were the playwright, what would the narrative be in Act II?
18:16 Are we going back to the 1970s? Are we entering the post-financialization era? Are we in a new era of globalization or regionalization? 
22:50 Cheryl’s origin story: how she got involved in investing and how she ended at Trillion. 
27:00 Cheryl shares her approach at Trillium to socially responsible investing.
29: 15 Closing questions
- One positive, long-lasting change that Cheryl hopes to see as a result of the pandemic. 
- What one object would Cheryl take with her on a long-duration space flight. 
- Flight or invisibility?
Related Articles and Links:
Bloomberg article
FT article
Cheryl’s origin story
Find Cheryl here:
Find Lauren Foster here:
Twitter: @laurenfosternyc