Jay Powell Is Beyond PATHETIC

Chris breaks down why the Federal Reserve is powerless to rein in inflation and interest rates, pointing the blame squarely at Washington's refusal to cut spending. He critiques Jay Powell for failing to call out the real issue—unchecked government debt and pork-laden budgets like the latest omnibus spending bill. Markowski offers a simple recipe for lowering rates and inflation, emphasizing the need for fiscal discipline in Washington. www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it we'll have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
The Powerless Fed. We're like, what are you talking about, Chris?
Powerless Fed? You know, Jay Powell came out, gave a
speech and said, man, you know it doesn't seeing as
many rate cuts moving forward, market takes a nosedive. How
could you say that they have no power? Well, what

(00:36):
have they been doing? Haven't they cut rates by one
hundred basis points? Haven't ten year treasury rates gone in
the opposite direction? Isn't that something They're supposed to have
a handle ont They're supposed to have some sort of control.

(00:58):
They don't. We've talked about bond vigilantes over the course
of the year. Again, I don't want to sound I
want to hate repeating myself over and over and over again,
but it really it's not that difficult to understand. You
have you have a Washington DC that has no interest

(01:19):
whatsoever in cutting spending, no interest what soever in cutting spending.
You have interest on our national debt. Uh, that is
the it's a number one line out of misshoots. What
we're paying for more than anything else. I again, get
your arm wrap your arms around that and where we're at,

(01:44):
and wrap your arms around. We've talked about this the
past couple of days. Oh, we gotta have a you know,
this is how the sausage is made.

Speaker 1 (01:52):
I might countire.

Speaker 2 (01:52):
I sorry. I don't have no choice, no choice but
to put all this poor care. We got no choice.
You don't have a choice? True, you do?

Speaker 1 (02:03):
True?

Speaker 2 (02:03):
Do you want inflation down? You want inflation down at
low rates? You want interest rates to come down, you
want mortgage rates to calm down. Listen, it's not a
difficult recipe, kids, It really isn't. There's an old Polish joke,
and I could say it because Polish. You know what happened,
you know Polish not you know forgetting the recipe for ice,

(02:26):
forget exactly how it goes. It's not a very difficult
recipe to figure out how to bring rates down and
to bring inflation down. The people that are in charge
have they're just not willing to do it. They're not

(02:46):
willing to do it. Again. I was encouraged and we'll
talk about this somewhere. I was encouraged by what Elon
and Vivek and you know, certain members of Congress or
actual conservative members of Congress, the efforts that they have
made to scuttle this ridiculous Christmas albatross crampis made on

(03:10):
the bus spending but that we do every single year.
How do you not how do you think get your
arms around the fact on the interest that we are
spending on our national debt, the waste, the pork, the nonsense.
What the hell's J Powell going to do? Probably? J
Powell is he's a big It's a big fat kitty cat.

(03:34):
And you know what I mean by kitty cat, completely
unwilling to point the finger where it belongs Washington, d C.
It's a J. Pobb be Like, what the hell am
I supposed to do? The hell am I supposed to do?
I got a predecessor that's you know, still there over
at the Treasury, was behind all of this spending. You

(03:56):
know what am I sport? You know, gonna cut it?
I can't cut spending. But because he's a woosie allows
these people in Washington, DC to continue to spend, gives
them hands on the credit card. You want things to
get better. This is top of the list, People, top

(04:17):
of the list, Watchdog on Wall Street dot com