Ep. 97 - National debt increases by $1 Trillion to $33 Trillion | Market Update

In this episode, we break down the latest commentary from the Federal Reserve chairman, Jerome Powell. With no rate hike at their recent meeting but expectations for one more before year's end, we sound the alarm on runaway government spending adding over $1 trillion to the national debt in just 3 months. Fed Chair Powell's lack of criticism on deficit spending is contrasted against the vocal Volcker of the 80's, arguing the central bank's independence is being undermined. If you’re not sure what to make of the latest Fed meeting, this is the episode for you.

[00:00 - 02:32] Initial thoughts on September Fed Meeting

[02:33 - 03:13] Our June 25th prediction come true

[03:14 - 05:32] Powell asked about deficit spending and said “it's not his concern”

[05:33 - 07:09] Is the central bank really independent or are they propping up markets?

[07:10 - 09:13] Consumer spending graph and potential warning signs

[09:14 - 10:13] How the Fed’s decisions affect the housing market

[10:14 - 13:02] Has the Fed overcorrected?

Quotes:

"What we've had is the highest spend rate in American history in three months” - Quinton Harris

“The Federal Government is undermining the Federal Reserve's policy right now. They're undermining every attempt they have to stop inflation” - Quinton Harris

“If the Federal Government doesn't stop spending at the deficit rate, this is all for nothing.” - Quinton Harris

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