Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.

The breakdown is sponsored by Nidig and produced and distributed by CoinDes.

What's going on, guys? It is Saturday, November 13th, and that means it's time for the weekly

recap. This week, to me, was all about Bitcoin and its relationship with the world. It was,

in other words, a macro week. We started with the big inflation print.

The numbers were crazy to many people out there. 0.9% growth month over month and 6.2% CPI headline

inflation between October 2020 and October 2021. The number was the highest in 31 years. Now, these numbers

create a lot of issues. Certainly for the Fed, it challenges the Fed's desire to keep interest

rates low even as they start their taper of asset purchases. Will this put more pressure,

however, on them to actually raise interest rates

faster than they'd like to? Perhaps. But then again, they're concerned if the Fed is correct

that these still are transitory factors, supply chain factors, for example, that even if more

persistent than imagined, will eventually write themselves versus a more sinister sort of

price inflation leads to wage inflation leads to price inflation leads to wage inflation type of cycle,

then they don't want to be too aggressive or recalibrate too hard because they could then

trigger a recession and we'd be back to square one. So the point is that it's a challenge for the Fed.

It's also a political challenge, certainly especially for the Biden administration.

Biden's White House is trying to get through a $2 trillion tax and spend bill, and this could

impact how that happens. What's more, just more broadly, growing prices faced by consumers

are dragging down Biden's approval

rating and making it harder for them to push through anything in their agenda.

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