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How Congress Should Reform the Fed
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Alex Pollock joins the Human Action Podcast to explain his recent Congressional testimony on the Fed’s growing insolvency and mandate overreach. The Fed now admits to $243 billion in operating losses and nearly $1 trillion in mark-to-market losses, leaving it with negative capital of about $197 billion. Pollock explains how the central bank transformed itself into “the biggest 1980s-style savings and loan in history” — funding short while buying long, and bleeding cash as interest rates rose. Read the Congressional Testimony: https://Mises.org/HAP523a Read More from Alex Pollock: https://Mises.org/HAP523b
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6306 episodes
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Manage episode 516770333 series 1332693
Content provided by Mises Institute. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mises Institute or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.
Alex Pollock joins the Human Action Podcast to explain his recent Congressional testimony on the Fed’s growing insolvency and mandate overreach. The Fed now admits to $243 billion in operating losses and nearly $1 trillion in mark-to-market losses, leaving it with negative capital of about $197 billion. Pollock explains how the central bank transformed itself into “the biggest 1980s-style savings and loan in history” — funding short while buying long, and bleeding cash as interest rates rose. Read the Congressional Testimony: https://Mises.org/HAP523a Read More from Alex Pollock: https://Mises.org/HAP523b
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