Engine of Inequality: The Fed & the Future of Wealth in America | Karen Petrou
Hidden Forces
Demetri Kofinas
4.8 • 1.6K Ratings
🗓️ 15 March 2021
⏱️ 57 minutes
🧾️ Download transcript
Summary
In Episode 183 of Hidden Forces, Demetri Kofinas speaks with Karen Petrou, co-founder and Managing Partner of Federal Financial Analytics and author of "Engine of Inequality: The Fed and the Future of Wealth in America."
The objective of this episode is to help you better understand how monetary policy and financial regulations have changed in the years since the great financial crisis and how those changes have destabilized financial markets by transferring risk from the more tightly regulated banking sector to other parts of the system.
In the subscriber overtime, Karen and Demetri discuss solutions to this predicament and what policy actions the Fed and regulators can take to rectify the problem. The two also discuss some of the limitations of the current policy and how much more room policymakers have to stimulate the economy before inflation finally begins to pick up or before we start seeing yields in the treasury market rise precipitously. We may already be there.
You can access the subscriber overtime, as well as the transcript and rundown to this week's episode through the Hidden Forces Patreon Page. All subscribers gain access to our overtime feed, which can be easily added to your favorite podcast application.
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Producer & Host: Demetri Kofinas
Editor & Engineer: Stylianos Nicolaou
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Episode Recorded on 03/09/2021
Transcript
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| 0:00.0 | The Hidden Forces Podcast features long-form conversations broken into two parts, |
| 0:05.2 | the second hour of which is made available to our premium subscribers, |
| 0:09.3 | along with transcripts and notes to each conversation. |
| 0:13.1 | For more information about how to access the episode over times, transcripts and rundowns, |
| 0:18.0 | head over to patreon.com slash hidden forces. You can also sign up to our mailing list at hidden |
| 0:24.7 | forces.io, follow us on Twitter, at hidden forces pod, and leave us a review on Apple podcasts. |
| 0:32.6 | And with that, please enjoy this week's episode. |
| 0:42.8 | What's up everybody? My name is the metric of Venus, and you're listening to hidden forces. |
| 0:59.9 | A podcast that helps investors, entrepreneurs, and everyday citizens get an edge by equipping |
| 1:06.0 | themselves with the knowledge needed to anticipate the challenges and opportunities of tomorrow. |
| 1:12.3 | By sharing my critical thinking approach and by challenging consensus narratives about the power |
| 1:18.0 | structures shaping our world, I help you make the connections to see the bigger picture, |
| 1:24.4 | empowering you to make smarter decisions. On this week's episode, I speak with Karen Petru, |
| 1:30.7 | co-founder, and managing partner of federal financial analytics, a consultant firm that |
| 1:36.1 | provides analysis and advisory services on legislative, regulatory, and public policy issues. |
| 1:42.7 | She is also the author of a new book titled Engine of Inequality, in which she argues that fed |
| 1:48.5 | policy is one of the primary drivers of wealth inequality in America and puts forward several |
| 1:54.4 | solutions to fixing the problem, including a reversal of interest rate policy, |
| 1:59.5 | balance sheet management, and forward guidance. We are living through the most extraordinary |
| 2:05.5 | monetary experiment in US financial history. If you'd graduated with a PhD in monetary economics |
| 2:12.6 | from Harvard in 2008, and someone dropped you into the middle of this week's FOMC meeting, |
| 2:18.9 | you'd have absolutely no idea what was going on. That's how much monetary policy has changed |
... |
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