The Jack Mallers Show The Fed & Treasury Are Getting Remarried: The Honeymoon Is Inflation, The Wedding Gift Is Bitcoin
Jul 22, 2025
Kevin Warsh, former member of the Federal Reserve Board of Governors, provides expert insights into today's financial landscape. He discusses the implications of the Genius Act and its potential effects on Bitcoin and stablecoins. Warsh highlights the interconnection between these digital assets and their increasing importance in a transforming economy. He also tackles central banking challenges, inflation dynamics, and the need for innovative monetary policies, suggesting a shift towards Bitcoin and gold in response to economic pressures.
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Fed-Treasury Fiscal Dominance
- The Fed and Treasury are increasingly intertwined, signaling fiscal dominance over monetary policy.
- This shift marks the end of post-WWII monetary independence and the start of new fiscal realities.
Fed's Credibility Crisis Exposed
- Kevin Warsh revealed the Fed lacks credibility and independence, reinforcing the need for regime change.
- Inflation is caused by government money printing and overspending, a fact absent from current Fed thinking.
Treasury Questions Fed Effectiveness
- Treasury Secretary Scott Bessant criticizes Fed economists as ineffective and signals investigation into Fed operations.
- The Fed is under pressure to justify its mission amid perceptions of inaction and failure.