Jurrien Timmer, the Global Director of Macro for Fidelity Investments, is, like Raoul, a deeply experienced macro analyst and investor with a thorough understanding of crypto. Until the last eight months, many in the crypto space thought they were isolated from macro influences like interest rates, inflation, and the money supply. During that time, though, it’s become quite clear that this is not the case, that crypto investors must understand the macro environment and the terms and concepts used to describe it. Jurrien and Raoul together sketch an essential macro framework as useful and valuable in the crypto market as it is in traditional markets. Their shared understanding leads both Raoul and Jurrien to conclude that we’re either very close to or have already reached the turn for the economy and markets, including crypto. Recorded on July 19, 2022.