Bloomberg Podcasts
@bloombergpodcasts·503K subscribers·32.4K videos
'We Have Hollowed Out' Institutional Knowledge in Government, Says Rebecca Patterson
Posted
February 18, 2026
Views
1,392
Likes
16
Comments
7
Engagement
February 18, 2026
1,392
16
7
1.65%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
6:02Now PlayingRebecca Patterson, Senior Fellow at the Council on Foreign Relations and former Chief Investment Strategist at Bridgewater Associates, examines the global economy and leadership changes in both Europe and the US Federal Reserve.
An early departure by Christine Lagarde could narrow the field of candidates vying to succeed her as European Central Bank president.
Lagarde will step down before her term ends in October 2027, the Financial Times reported Wednesday, allowing President Emmanuel Macron to help find a replacement ahead of French elections that could usher in the far right.
While the ECB insisted Lagarde is “totally focused on her mission,” in saying that she “has not taken any decision regarding the end of her term,” it suggested she is indeed considering cutting short her mandate.
A premature exit could give an edge to the established frontrunners for her job — namely former Dutch central bank chief Klaas Knot and Spain’s Pablo Hernandez de Cos, who currently leads the Bank for International Settlements.
The pair, who analysts polled by Bloomberg see as the favorites, already have a head start on others — including Bundesbank President Joachim Nagel and ECB Executive Board member Isabel Schnabel — in terms of campaigning and lobbying.
For Nick Kounis, an economist at ABN Amro, Knot may now be best positioned.
“Timing-wise, Knot has not taken a new big job yet, while de Cos has,” he said. “So an early appointment may favor Knot on the margin.”
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
