Krishna Guha

Vice Chairman & Head of Economics and Central Bank Strategy, Evercore ISI, Evercore

Search every verified Krishna Guha interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Krishna Guha, Vice Chairman and Head of Economics and Central Bank Strategy at Evercore ISI, appeared on episode 78 of The Real Eisman Playbook podcast with Steve Eisman, where he discussed recent developments in U.S. monetary policy and financial markets. Guha attributed the rise in the ten-year Treasury yield from 4.5% to over 5% to a combination of factors, including AI-related debt issuance crowding out Treasuries, war-driven oil prices, the large federal deficit, and Federal Reserve Chair Kevin Warsh's decision to withdraw the forward guidance that previous Fed chairs had provided. He stated that Warsh's removal of these "guard rails" contributed to rates markets running higher, though he noted that the fundamental factors, rather than Warsh himself, were the primary drivers of the yield increase. Guha also commented on Treasury Secretary Scott Bessent's bond buyback program, describing it as having "clearly failed" because long-term rates had marched significantly higher, and said Bessent had "lost a lot of credibility in the markets." On inflation, Guha expressed a relatively constructive view, saying he believed inflation was heading down and that tariff-related inflation would drop out of the numbers soon. He suggested that, given the labor market's strength, it might be a good time for the Fed to take out some insurance on the inflation side. The conversation also included a ranking of past Fed chairs, with Guha praising Ben Bernanke's handling of the financial crisis and Jerome Powell's performance during COVID, while noting Powell was slow to raise rates when inflation took off.