3 chapters across the catalog
Kevin Hassett as Frontrunner for Federal Reserve Chair
Kevin Hassett is reportedly the frontrunner to replace Jay Powell as Chairman of the Federal Reserve. Markets responded positively to the rumors, leading to a successful Treasury auction and lower interest rates. Hassett emphasized that the next Fed chair should focus on making car loans and mortgages more accessible to the American people.
Auction Rate Securities Market, Silicon Valley Venture Capital Risks
Financial advisors in Silicon Valley reportedly directed 20% of venture-backed startups to invest spare cash in the auction rate securities market, which is now experiencing widespread failures. The hosts discuss the lack of liquidity for these companies and criticize the Federal Reserve's $200 billion intervention as a de facto tax on citizens through currency devaluation.
The $300 billion auction-based credit market is facing a crisis after a failed auction involving the New York Port Authority caused interest rates to spike to 20%. This instability is attributed to the deregulation of the banking industry during the Clinton administration, which allowed for the consolidation of national banks and the removal of Depression-era safeguards.
