Former Fed Official Accuses It Of Socialism | Thomas Hoenig

Last week in his much-anticipated speech at Jackson Hole, Federal Reserve Chairman Jerome Powell announced the "time has come for policy to adjust". World markets now have a 100% probability expectation that the Federal Funds Rate will be cut at the upcoming September meeting. In the words of Nick Timiraos, chief economist for the Wall Street Journal and suspected media mouthpiece for the Federal Reserve, "The Powell pivot is complete". Is that indeed the case? And if so, what should we expect from here from the speed and depth of rate cuts? What will the expected impacts be on the economy? And which ones will be felt soon, and which perhaps not for quarters from now? And lastly, is this the correct policy move the Fed should be pursuing? For a true expert's informed perspective on these very important questions, we have the great privilege today of speaking with Dr Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center. Follow Dr Hoenig at https://www.discoursemagazine.com/ or https://www.finregrag.com/ WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com --- Support this podcast: https://podcasters.spotify.com/pod/show/thoughtful-money/support