The Fed’s New Mandate Is Financing The Deficit | Weekly Roundup
Episode publishedPodcast: Forward GuidanceForward Guidance
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I've been thinking a lot about is just a major regime shift happening in monetary policy and how it's conducted.
We all know the mandates are shifting. It's not a dual mandate. It's finance the government.
I generally agree with the premise of, like, capital flowing away from The US and into other places. There's a lot of ramifications about that, and most of them are not good for, like, equity multiples. So
you've talked about for a lot of years of, like, capital to labor. It feels like so much of the direction is headed towards higher tax rates, especially for high income earners and and the rich.
There's a socialist Democrat primary candidate in in New York. Like, that's the effect of a generation of ignoring labor. All
I could think about is we let him have too many beers before this.
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much. Can you hear me? Alright. Yeah. Yeah. The one thing that I wanted to say was I I talk a lot of shit to Felix and roast him for being a CFA charter holder. And I walk in and he's like six foot five and built like a lumberjack and I'm like, goddamn. Yeah.
You're real quiet now about that. Wayne,
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