Max from @UNFTR does a deep dive on Kevin Warsh, the man who will replace Jerome Powell at the Federal Reserve. Apart from his clear conflicts of interest, there’s a more troubling aspect of a Warsh tenure: his worldview simply doesn’t line up with reality. Max analyzes Warsh’s statements on lowering interest rates and shrinking the Fed balance sheet in the context of runaway deficits and stagflationary environment. Aside from the incongruous nature of this situation, the real point is that we’re having the wrong conversations. With all the focus on monetary policy interventions, what’s missing is a discussion on fiscal policy that could truly be game changing for the country.

CHAPTERS
00:00 – Introduction
01:06 – Warsh Man for the Job
08:11 – Treasury Debt: High on our own supply
11:47 – Mar-a-Lago Accord
16:21 – Financial Repression
23:40 – The fiscal conversation we should be having

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