The FED is getting WORRIED!
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 8 November 2022
⏱️ 49 minutes
🧾️ Download transcript
Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything |
| 0:07.8 | real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my |
| 0:13.9 | co-host, Daniel. Let's get right into this episode. Hello, welcome to the Ken McRoy show. |
| 0:20.1 | I'm your host, DeNeil, here with Ken. Hello, everybody to the Ken Macquarie show. I'm your host, Danielle, here with Ken. |
| 0:22.3 | Hello, everybody. So today we are talking about why the Fed is getting worried. |
| 0:29.2 | Who is it? My gosh, not just the Fed. It's funny. I don't think that people believed that the Fed was going to do what they've |
| 0:40.8 | done, which is they've raised rates six times since March. Yeah. So, so something interesting, |
| 0:47.8 | I found out, and maybe some of you know this, I didn't know this, that the Fed has some opposing |
| 0:54.0 | things that's responsible for. So the Fed is responsible |
| 0:58.0 | for maintaining employment. They are. Which is different from different central banks all over the |
| 1:03.7 | world. So they are in charge of maintaining employment. However, they're also in charge of |
| 1:08.0 | keeping inflation around 2%. Right. So that is why it was so impactful that Jerome Powell has been saying, |
| 1:16.2 | we're making inflation our primary goal, no matter what, at this time. |
| 1:21.5 | Because what that means is he doesn't really care. |
| 1:24.4 | He knows it's going to affect employment. |
| 1:26.1 | And as of right now, that's a secondary issue. |
| 1:29.5 | Right, right. I think it, he, they basically said that they were going to do this. Their target, if you go to the Federal Reserve's website, their target is 2%. It's, it's something that they're certainly trying to do. Of course, |
| 1:45.7 | you know we're over eight right now. It was interesting. The employment numbers came out last |
| 1:51.1 | week and they were actually pretty positive. I think we're at 3.7% unemployment. But lots of |
| 1:59.1 | criticism around that. You know, one of of the one of the tweets I read was what |
| 2:04.1 | what Biden's failing to say is that there were up 200,000 in part-time jobs and down over 400,000 |
| 2:11.6 | in full-time jobs so I think that's very interesting if you take a look at that including |
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