The Genius of Jerome Powell

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In this video, I discuss the "genius" of Jerome Powell, the chairman of the Federal Reserve, by evaluating his performance based on the Fed's dual mandates of price stability and maximum employment.

I conclude that the Fed and Powell deserve an "F" in both and are much closer to being arsonists than firefighters.

Fortunately, we have Bitcoin to protect ourselves from central bankers and their disastrous policies.

Not investment advice! Consult a financial advisor.

The Economic and Political Genius of Jay Powell:
https://www.washingtonpost.com/business/2023/08/14/powell-s-fed-has-the-right-instincts-on-economics-and-politics/a399218a-3a8d-11ee-aefd-40c039a855ba_story.html

Matthew Yglesias:
https://twitter.com/mattyglesias

Why I Haven’t Changed My Mind About Bitcoin:
https://slate.com/business/2013/12/bitcoin-my-mind-hasn-t-changed.html

Yglesias supported SBF:
https://jacobin.com/2022/11/sam-bankman-fried-ftx-new-york-times-liberalism

The Fed and the Dual Mandate:
https://www.stlouisfed.org/in-plain-english/the-fed-and-the-dual-mandate

The US dollar's eroding purchasing power:
https://www.visualcapitalist.com/wp-content/uploads/2021/03/Purchasing-Power-of-the-US-Dollar.jpg

Watch the Fed's balance sheet grow:
https://fred.stlouisfed.org/series/WALCL

Half of NYC households face cost of living crisis:
https://www.bbc.com/news/business-65394860

The Cost of Living Crisis:
https://stupiddope.com/2023/02/the-cost-of-living-crisis-how-inflation-is-impacting-americans-today/

Labor force participation rate:
https://fred.stlouisfed.org/series/CIVPART

Bank Term Funding Program:
https://www.federalreserve.gov/financial-stability/bank-term-funding-program.htm

Total emergency loans from the Fed's BTFP facility have hit a new high of $107.39 billion:
https://twitter.com/JoeConsorti/status/1695037241238696181

Why Fed's Powell still thinks high inflation is 'temporary':
https://www.reuters.com/business/why-fed-chair-powell-still-thinks-high-inflation-is-temporary-2021-08-27/

I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos. My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.

#Bitcoin
#Fed
#Powell

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