EDITOR'S NOTE: In the video below, US Treasury Secretary Janet Yellen is seen telling a CNN anchor that the Federal Reserve will need “great skill and some good luck” to achieve a soft landing (read: to not collapse the economy). This brings up two issues that Americans should find problematic. First, the Fed has never exhibited great skill in sustaining a healthy balance in the economy. Instead, it’s shown a reckless proclivity toward inadvertently generating extravagant booms and busts. Luck may have its way, but the Fed’s interventions seem only to amplify the negative effects of chance while minimizing anything favorable that might come about without its policy mediations. Second, the Fed’s and Treasury’s public messaging has always been filtered through an optimistic spin on the economy’s (if not the market’s) future. So, when both show the honesty of concern, we can only wonder how much worse things are going to get.
With the latest worrying inflation numbers, Jesse has to bring back recovering investment banker Carol Roth once again to help with the math. An administration so good at lying and spreading false positive news is finally admitting we could be in for some rough economic times. Roth explains what the market future looks like and how we got to this point in the first place.
Originally published on The First TV.
