

Episode 4657: President Trump Inspects Fed's Over Spending
Jul 24, 2025
James Fishback, an investment firm leader and interest rate options trader, is suing Jerome Powell for the Fed's secret meetings. He discusses how these closed-door sessions impact the economy. Russ Vought, former OMB Director, accompanies Trump as he inspects rising costs at the Fed. They explore transparency in spending, critical infrastructure projects, and advocate for lower interest rates. The conversation highlights the need for accountability in government spending while challenging media narratives surrounding economic policies.
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Fed Construction Cost Overrun
- The Federal Reserve construction project has ballooned to $3.1 billion, a massive overrun from initial estimates.
- President Trump inspects and critiques the project, emphasizing taxpayer concerns and potential project mismanagement.
Trump Pushes Large Rate Cuts
- Federal Reserve interest rates remain artificially high despite improving inflation.
- President Trump calls for cuts up to 300 basis points to boost the economy and housing market.
Fed Expert Critiques Rate Policy
- James Fishback, an interest rate options trader turned investor, reveals he struggles to understand Fed decisions today.
- He highlights steep mortgage rate increases hurting home sales compared to Trump's first term.