Central Bankers In Their Own Words - FED99

Hosts: Ansel Lindner and Christian Keroles

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Fed Watch is the macro podcast for bitcoiners. Each episode we discuss current events in macro from across the globe, with an emphasis on central banks and currencies.

In this episode, CK and I listen and react to highlights from this month’s two central bank press conferences, Federal Reserve Chairman Powell and ECB President Lagarde. Central banks are one of the most misunderstood institutions in our modern world. Many analysts simply tell you what the Fed or the ECB thinks and what they do to disrupt the global economy, but on our show, we like to give you primary source material from which you can start to form your own educated opinion.

We live stream most of our shows on the Bitcoin Magazine YouTube channel on Tuesdays at 3pm eastern. Mark your calendars!

Federal Reserve Chairman Powell’s highlights and reaction

Chairman Powell’s comments were highlighted by a few narratives. These are simply what they say they are doing, not our analysis. 

1. Their primary concern is inflation fighting
2. They will be adaptive to new data
3. A tight employment market threatens to exacerbate inflation
4. They cannot affect the supply side, so they will tamp down demand to bring down prices

The main metric guiding the Federal Reserve’s course of rate hikes is CPI and “inflation” expectations. There are several ways to measure this, the Fed uses consumer surveys. This is a critical distinction between surveys and market-derived expectations, because surveys will not distinguish s