Topic: Tapering

The hosts discuss claims that 40% of all U.S. dollars ever created were printed in the last 24 months. They criticize the Federal Reserve's use of terms like "tapering" and "transitory" to describe inflation, arguing that these words are "toxic" and misleading. The discussion focuses on the shift from a deflationary spiral to the current period of high consumer prices.

The Federal Reserve announces it will not taper its $85 billion monthly stimulus program. The hosts discuss Larry Summers' withdrawal from consideration for Fed Chair, attributing it to opposition from the House Finance Committee. They predict that Janet Yellen will "waltz through" the confirmation process and continue the current policy of massive currency creation.