61.0: LIVE! Reaction: Answering Jerome Powell

With no way to avert a US downturn, the Fed had to act forcefully to limit damage. So says Federal Reserve Chairman Jerome Powell. Jeff Snider listens and reacts to Powell’s case that the disruption wasn’t the Fed’s fault.

———SEE IT———

Twitter: https://twitter.com/izakaminska
Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

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———Ep 60.0 Topics———

00:05 Is a central bank’s job to prevent a crisis or to make the crisis less worse?
03:36 The Fed’s goal should’ve been to maintain US dollar exchange rate stability and liquidity
05:02 US Treasuries were being sold by the market in March 2020, but why?
09:30 Powell says the recovery is continuing apace and on a good trajectory
11:23 The employment recovery took place almost entirely in the first months, but sideways since
13:36 What role does the mainstream media have in explaining what standard to hold the Fed to?

———Ep 60.0 References———

Jerome Powell on the Pandemic Year: https://on.wsj.com/39kdnp6
One Year Later: Why No ‘V’?: https://bit.ly/3dhBaY0
Alhambra Investments Blog: https://bit.ly/2VIC2wW
RealClear Markets Essays: https://bit.ly/38tL5a7


Jeff Snider, Head of Global Investment Research for Alhambra Investments with Emil Kalinowski. Art by David Parkins.