Conversation and words of wisdom from a UK economist at HSBC

 


Its always great to be presented with opportunities such as meeting actual economists, especially at private banks where their role is more to provide understanding to clients about the economic climate which is different to the public world. 

BoE,  Treasury, and graduate programmes are a great way to get into the economics world. Liz's job specifically is to make forecasts and reports and tell their clients (hedge funds, small businesses etc). The sandwich programme includes students teaching students, making charts, spreadsheets and helping HSBC with their tasks. The economics team specifically have a look along side students and will engage in conversations. 

AI. Reduce unemployment, increase productivity which net would create more employment. AI is hoped to add value, and you'll need to learn how to work with AI.

Recent rate cuts been demand side. Planning and trade deals have been good for supply side. Trying to deregulate areas in the financial side. Monetary policy is a winning thing with votes. Remove stamp duty and other duties on supply side which all win votes.

Politics vs stating facts. Liz explained how recently the company published a report that suggested that labour's policies may cause high inflation and high unemployment. This made it onto the press which is unfortunate as HSBC and other private companies have an aim to woo the government and not to enrage.


Advice that she would give her 17 year old self:

1. Make connections and remembering people/getting remembered by people

2. Placement years

3. Think about how AI can add to your skills

4. Look at the society for professional economists

5. Keep up to date and get yourself out there.

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