Jerome Powell's Embattled Legacy: Is the Fed's Dual Mandate Failing America | Between The Lies 004

Welcome back to Between The Lies, where we rip apart the financial fairy tales and give you the real story behind economic manipulation. I'm Nicky P, and I'm joined by the money truth-tellers at Perfect Spiral Capital - Luke Tatum and Rob Brayton.

 

This week, we're diving deep into Jerome Powell's embattled legacy at the Federal Reserve. With Trump breathing down his neck and demanding different numbers, at least they're finally admitting the data means nothing. If you don't like the numbers you get, just find somebody who'll give you the ones you want.

 

What We Cover:

 

• The Fed's impossible dual mandate: managing inflation AND unemployment
• Why 2% inflation is government-sanctioned wealth theft
• How Powell compares to Paul Volcker's 20% interest rates in the 1980s
• Trump's pressure campaign and the politics of economic data
• Why we've had artificially low rates since the 1990s (and what that really costs)
• The jobs numbers nobody talks about and what they actually mean
• How tariffs plus income tax creates the worst of both worlds

 

Key Takeaways: Rob breaks down why the Fed's dual mandate is fundamentally flawed - you can't control inflation and unemployment simultaneously without creating perverse incentives. Luke exposes how we went from Volcker's 20% rates to basically free money under Bernanke and Yellen. And I call out the 2% inflation target for what it is: a plan to steal 2% of your wealth every single year.

 

We also tackle the uncomfortable truth about our economy: it looks terrible until you compare it to every other country. We're the kid with a broken arm while everyone else has two broken legs. But that doesn't mean we should accept the jalopy when we know the economy could be a Ferrari.

 

The Silver Lining: Economic downturns create opportunities for people with capital. While others panic about jobs numbers and inflation, smart money positions itself to buy assets on the cheap. The key is having your own "banking system" - capital that's always ready to deploy when opportunities appear.

 

Perfect Spiral Capital Insight: Luke and Rob reveal why higher interest rates have actually been great for them. When you're not dependent on traditional financing, you play by different rules. Life insurance companies had their most profitable years during 2008 while everyone else was panicking.

 

Ready to build your own economic foundation that thrives regardless of Fed policy? Visit PerfectSpiralCapital.com/podcast for their free toolkit on the future of your money.