Cam Harvey: Through the Noise
Fuqua economist Campbell Harvey gives his insights on pressing topics within the worlds of economics and finance.
Episodes
28 episodes
France ≠ U.S.
Cam Harvey and Robert Olinger examine why surprisingly weak nonfarm payroll growth didn’t trigger the market reaction many investors might expect—and why the headline jobs number may be missing the bigger economic story.Harvey argues tha...
Is there a crisis in the bond market?
Is the U.S. bond market really entering a crisis with “no historical parallel”? In this episode of Cam Harvey’s Through the Noise, Cam Harvey and Robert Olinger examine the headlines surrounding rising Treasury yields and explain why a 10-year ...
p(stag)
Cam Harvey examines “p(Stag)” — the probability of stagflation — and what a high-inflation, low-growth environment could mean for investors and portfolio construction. Drawing on ongoing research into stagflation and asset management, Cam expla...
Is It like 1999 or 1929?
Yes, we are experiencing prolonged war, persistent inflation, 18% of our taxes go to pay only the interest on 40t in debt, long-rates are breaking 5%... but why all the pessimism?In my latest podcast, Through the Noise, with Robert Oling...
Are rising long-term interest rates really bad news for the U.S. economy?
In this episode of *Through the Noise*, Cam Harvey and Robert Olinger examine the debate surrounding Federal Reserve interest rate policy and challenge the conventional narrative about rising Treasury yields.Harvey explains why the Feder...
AI Running Wild
Take the AI literacy test. No cheating with AI! How many of these terms do you know: RSI, FLOPS, TTC, ASI, GAN, HAL, CAISI, CoT, FLOPs?What about GPT? Over a billion users of ChatGPT every day and very few of them can say wha...
SpaceX - Buyer Beware
The average investor was excluded from the explosive upside when SpaceX was a private company. That upside was reaped by “accredited” investors The average investor is largely excluded from the IPO allotment - a few crumbs were thrown. Now, the...
Why Retail Can't Touch Private Markets
In this episode of Through the Noise, Cam Harvey unpacks one of finance's most consequential and least understood rules: who counts as a "qualified investor." In the US, the label has nothing to do with knowledge or credentials. It comes down t...
Who Really Wins in the SpaceX IPO?
A $1.75 trillion IPO is about to hit the market, and the mechanics behind it could leave retail investors holding the bag. In this episode of Through the Noise, Cam Harvey breaks down how SpaceX's Nasdaq debut triggers a wave of forced index-fu...
The SpaceX IPO Trap for Retail Investors
In this episode of Through the Noise, Cam Harvey unpacks his newly published Financial Analysts Journal paper, "Fundamental Growth," and applies its lessons to the most anticipated IPO of the year: SpaceX. Cam explains why traditional value and...
What’s Going on with World Liberty Financial
In this episode of Through the Noise, Cam Harvey returns to dive deeper into the rapidly expanding stablecoin landscape. Building on the previous discussion of Tether (USDT) and Circle (USDC), Cam unpacks USD1 - the World Liberty Financial stab...
Banks Are Terrified of Stablecoins
While bitcoin and dogecoin grab headlines, a far less flashy corner of crypto has quietly overtaken Visa and Mastercard in annual transaction volume. In this episode of Through the Noise, Cam Harvey walks Robert Olinger through stablecoins - do...
The END of Banking and Why Your Savings Account Earns NOTHING
Why does your savings account earn essentially zero while money market funds pay nearly 4%? In this episode of Through the Noise, host Robert Ollinger sits down with Duke finance professor Cam Harvey to unpack the massive gap between bank depos...
Is There ANYWHERE Safe to Put Your Money?
In this episode of Cam Harvey's Through the Noise, host Robert Olinger sits down with finance professor Cam Harvey to examine whether truly safe assets still exist in today's turbulent global economy. With US debt at $39 trillion and g...
The Debt Bomb Ticking Toward 2033
Is America's national debt a slow-moving crisis hiding in plain sight? In this episode of Through the Noise, Duke finance professor Campbell Harvey breaks down why the U.S. debt is far larger than headlines suggest - closer to $39 trillion once...
The Four Horsemen of Technological Disruption
Cam Harvey reveals why AI is just one piece of a much larger puzzle. In this episode, he outlines four simultaneous technological disruptions — artificial intelligence, quantum computing, decentralized technologies, and multiomics — arguing tha...
Why Executives Are Dangerously Wrong About AI's Impact
The latest CFO Survey, directed by The Fuqua School of Business in partnership with the Federal Reserve Banks of Richmond and Atlanta, suggests AI won't meaningfully shrink payrolls. In this episode, Professor Harvey argues that CEOs and CFOs a...
AI and the Decoupling of Jobs from Economic Growth
What if working fewer hours coincided with stronger economic growth?New labor data reveals a puzzling trend: employment is being revised downward even as the economy keeps growing. Professor Harvey explores whether AI is the variable tha...
The Seven Risks of the Iran War
The war in Iran is being treated by financial markets as a systemic event rather than a local conflict.In this episode, Professor Harvey outlines a framework for understanding that distinction. He distinguishes between geographically con...
How Markets Absorb Geopolitical Shock
Geopolitical events test how quickly and efficiently markets incorporate risk. When news of military action in Iran broke outside traditional trading hours, investors responded immediately in alternative venues.This episode examines thre...
Tariffs as National Risk Management
Tariffs are typically recognized as a tax. But that framing assumes the only objective is efficiency.Since China’s entry into the World Trade Organization in 2001, the balance of global manufacturing power has shifted dramatically. Where...
Why Bitcoin Is Not the New Gold
Bitcoin is often described as “digital gold.” Both are presented as inflation hedges with supply constraints beyond the control of any single government. But do they serve the same economic function? In this episode, Duke fin...
What the New Fed Chair Signals About Monetary Policy
What does the nomination of a new Federal Reserve chair signal about the future direction of U.S. monetary policy?Professor Harvey uses the announcement as a lens to examine a deeper question inside central banking. He explains how predi...
Gold's Wild Week: Why Prices Surged then Fell 11%
Gold prices moved sharply in late January 2026, surging past $5,500 before dropping 11% in a day. The swing ranks among the largest single-day moves in decades.In the latest episode of Through the Noise, Prof
Gold’s Strength Reflects a Changing World
Why have gold prices hit an all-time high, and what’s driving demand for gold now?In this episode of Cam Harvey: Through the Noise, Duke Fuqua finance professor Campbell Harvey explains the forces behind the recent surge in gold...