Fed “Smooth Operator”? Warsh Dodges, Spending Blamed for Inflation

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So I watched a whole bunch of Kevin Warsh and his testimony in front of Congress and the questions that came down the pike and came to mind the entire time was, in my opinion, one of the greatest female singers ever. Shadé, smooth operator. Yeah, Kevin Warsh is a smooth operator, highly intelligent in like the

Clintonian sense, able to answer anything that’s thrown at him able to divert from really answering the question at hand. One of the funny ones was asked about the the giving the economy an overall grade and I you know, you know, because I work at Stanford and you know, these colleges nowadays.

I’ll get in trouble if I don’t give anything but an A and again, managing to buy time and never really answering most of the questions. The one thing that I did get from the guy was that he said that it’s not the interest rates that are driving inflation, something that I’ve tried to get across. It’s not the interest rates, it’s government spending.

government spending. It’s always been government spending and always will be government spending. And there’s little that the Federal Reserve can do about that. Again, want to see for yourself. Very, very bright guy. But as it stands right now, still Tom Tillis is like, No, we’re not going to let this go through until we stop all of the shenanigans with Powell that are taking place. On another front, when it comes to the Fed.

All of sudden, people are starting to pay a little bit of attention to the Fed’s balance sheet and just how horrific it is. Again, we told you here on the program, three years in a row, they’ve lost money. With money, you’re talking $210 billion. Fed usually, prior to that, would offer remittances to the U.S. Treasury. No longer the case. We’re seeing idea.

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after column after idea from all these wizards of smart out there, financial engineers, if you will. All these financial engineers that coming up with all of these wonderful ideas about how we’re to go about dealing with the feds balance sheet. One of them was for Congress to put together some sort of fund and transfer the assets over. And I’m going through these various different proposals and pieces and they read

they read like something that was crafted, you know, in the laboratory at Goldman Sachs and Morgan Stanley. Again, someone, someone’s got to pay. Someone’s got to pay. And it seems to me, the fine print and all of these things, it’s going to be us the taxpayers because it always is. It always is. They’ve got these wonderful, wonderful ideas out there. we can change a balance sheet, we can all all this stuff. Someone’s got to pay.

and it’s going to be us. Watchdog on wallstreet.com.