BREAKDOWN: Powell and Yellen Talk Stablecoins, Inflation and Debt
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 November 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
Plus, the changes at Twitter have already started under its new CEO.
This episode is sponsored by NYDIG.
On today’s episode of ”The Breakdown,” NLW follows up on Twitter’s leadership change, covering a new privacy policy that some are saying has big implications for the platform. He also looks at Sen. Sherrod Brown’s letter to stablecoin issuers from last week and discusses Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell’s testimony before the Senate today.
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NYDIG, the institutional-grade platform for bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.
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“The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Adam B. Levine is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “Dark Crazed Cap” by Isaac Joel. Image credit: Alex Wong/Getty Images News, modified by CoinDesk.
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Transcript
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| 0:00.0 | Welcome back to The Breakdown with me, NLW. |
| 0:09.1 | It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world. |
| 0:16.3 | The breakdown is sponsored by Nidig and produced and distributed by CoinDesk. |
| 0:22.7 | What's going on, guys? It is Tuesday, November 30th, and man, oh man, I cannot believe that November is already over. |
| 0:30.4 | Today we are talking about Powell and Yellen's testimony, what it means for inflation for stable coins, and much more. |
| 0:37.0 | But first, I want to come back and |
| 0:38.6 | revisit the Jack leaving Twitter topic from yesterday. Moments after I finished recording yesterday's |
| 0:44.8 | episode, Jack Dorsey dropped a note about leaving. Now, the biggest thing that's notable about |
| 0:49.7 | that note is how little is notable in that note. It gives no real clues to what's coming next and doesn't |
| 0:55.4 | really identify or even intimate a reason. He does say, quote, there aren't many founders that |
| 1:01.1 | choose their company over their own ego. So maybe Jack is finally feeling the constraint of running |
| 1:06.7 | two public companies, or maybe he's just not caring as much about the battles that Twitter |
| 1:11.4 | needs to fight as other things he does care to spend more of his time on, which, as many |
| 1:15.8 | bitcoins have speculated, might be Bitcoin itself. Now, notably, he did introduce the next |
| 1:21.2 | leader of Twitter. Parag Agrawal is the former CTO of Twitter who started as an engineer and |
| 1:26.8 | came up through the company. |
| 1:28.5 | It's a pretty cool story, but it didn't take long for people to absolutely dig in. |
| 1:33.6 | First, there was a lot of honing in on an October 2010 tweet, where the new Twitter CEO said, |
| 1:39.2 | in quotes, if they're not going to make a distinction between Muslims and extremists, then why should |
| 1:43.4 | I distinguish between white people and racists? This was a quote, as it came out later, from a comedian who |
| 1:49.6 | was on a panel on the Daily Show with John Stewart in 2010, when the tweet actually happened. |
| 1:55.8 | It was discussing NPR's then recent firing of Juan Williams. And long story short, I don't care about this. I think |
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