Veteran Federal Reserve Exec Thomas Hoenig Warns We're On A Trajectory For Crisis

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The Federal Reserve is one of, if not the most, significant institutions in the world given the global impact of its policy decisions.

It influences the price of nearly everything, as well as the availability of jobs, the stability of our banking system, and the purchasing power of our money.

When the Fed Chair speaks, the entire world stops to listen.

But the average person has a poor understanding of how this colossally important entity operates or even why it exists. And after a series of asset price bubbles -- which some argue we're in another one now -- a chorus skeptical of the Fed's actions has emerged.

So today we're doing our best to shine as bright a light as possible on the Fed: how & why it operates, the good & as well as the shortcomings of its actions to date, what direction its policies are likely to take from here, and how all of this impacts the households of regular people like you and me

We have the great privilege of speaking today with Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center.

Follow Dr. Hoenig at https://substack.com/profile/13192699...

0:00 - Dr. Hoenig's Backstory
5:26 - Why Does The Federal Reserve Exist?
11:16 - The Fed's Track Record
14:53 - Is Current Fed Policy Appropriate?
18:37 - Is Powell Confident Or Fearful?
22:45 - The Fed's Short-Term Focus
28:14 - Our Disastrous Fiscal Policy
42:24 - Reforms Hoenig Would Prioritize
50:29 - How Fed Policy Affects Home Prices
53:12 - Why The Fed's Decisionmaking Is Broken
57:58 - Outlook For The Dollar's Purchasing Power
1:01:08 - Fed Policy & The Wealth Gap
1:05:13 - When Will QE Re-Start?
1:07:16 - How Vulnerable Is The Banking System?
1:09:00 - The Timeline For The Fed's Next Crisis
1:10:34 - Wrap-up

#federalreserve #inflation #moneysupply
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