American Monetary Association

Jason Hartman invites Joseph Wang aka The Fed Guy, to the show today. Who better to talk about the inner workings of the Federal Reserve than someone who actually worked there! Joseph Wang is a former senior trader on the open markets desk at the Federal Reserve and the author of Central Banking 101. Jason and Joseph tackle the biggest question on everyone’s mind: will mortgage rates go higher? How much higher can they go? Why did the Fed wait so long to start quantitative tightening and raise rates? Why didn’t they do it more gradually? Do you think Powell really thought inflation was transitory as he kept saying? It seems there was a political basis for him thinking that way, which filtered into policy and partially resulted in the huge inflation we're seeing right now. But what gives? If you don’t raise rates in order to avoid increased unemployment, then inflation will continue. Joseph Wang also gives his take on the Fed’s response during times of economic crisis such as the Great Recession and the recent