This is a special edition of Macrovoises with hedge fund manager Eric Townsend.

The premier financial podcast targeting professional finance, high net worth individuals, family

offices, and other sophisticated investors.

Now for this special edition of Macrovoises, here's hedge fund manager Eric Townsend.

Macrovoises All Stars episode 61 was recorded on September 23rd, 2019.

I'm Eric Townsend.

All-star Danielle DiMartino Booth is back with us again today.

Danielle, it's great to have you back.

I want to talk about the Federal Reserve because we've done several interviews about this

repo blow-up that occurred last week.

And one of the things that Jeff Snyder told us is he said, look, the Fed doesn't show any

outward signs of really understanding how this stuff works.

The way Jeff described it was, they don't really speak the language of the market anymore.

Now that's a pretty strong accusation to make about an organization that's charged with

basically being in charge of the global economy.

It's not quite the global economy, but in effect, it really is.

You've actually worked in the Federal Reserve.

Jeff, a little bit crazy to be saying that the Federal Reserve doesn't have a clue as

to what's going on here or is there substance to that accusation that Jeff is making?

Look, there was a time a few years ago when there were rumblings about Janet Yellen herself

being attached to a leak to medley.

It was eventually sloughed off on another Federal Reserve president who it felt like as

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