Is the Fed independent? Maybe, but spineless and sleepy seem better adjectives

New Business Paradigms - World Business Academy

Recorded on Sep 23, 2019 On this Episode of New Business Paradigms, Rinaldo Brutoco (World Business Academy President and Founder) and Kristy Jansen (Chief of Staff) discuss just what the “repo” (repurchasing) market is, and just what led the Fed to begin injecting billions of dollars into it to stabilize the market last week. It turns out that the perfect storm was brewing, in part because the Chair of the Fed continues to bow to political pressure – Rinaldo describes Fed Chair Jay Powell as having “the spine of a worm” – and thanks to the lack of predictive power of the current Fed leadership. Rinaldo ties this market disruption to the volatility of oil markets and US jobs numbers that are constantly being revised downwards. All are recessive indicators, though the jobs numbers are a sign of government manipulation of the facts. The show ends with a discussion of big environmental news in California. The UC system has decided to divest from all fossil fuels and California is suing the federal government (California v Chao) to keep its ability to set strict tailpipe emissions standards. Link to referenced Al Gore article