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TIP496: Mastermind Q4 2022 w/ Tobias Carlisle and Hari Ramachandra
We Study Billionaires - The Investor’s Podcast Network
What Are the Risks of a Liquidity Crisis?
If you go back pre the introduction of the Federal Reserve, there used to be a lot more business cycles. The Fed was introduced to make sure that if they all got together collectively and there was a bank run, you could have liquidity from one. That's two mandates are full employment and stable money. I think they've failed miserably on both. Why we continue this experiment is beyond me. They don't follow any algorithmic rule. It's like an idea that they should follow to set rates. We're way, way below inflation at the moment. There's a cyclical component. There's that bump in that inflation that's going to come down at some point. Nobody really
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