Chris Whalen on FED Repo Operations 2019 09 24

[Poochie]

So from 2 to 30 years, interest rates are between 1.5 & 2.2 % and the market has a liquidity problem? Well done Central Bankster

[Poochie]

Also, a shout out to Downtown Josh Brown 11:58, one of the most overrated guys in finance I have ever seen. J. Powell received a Bachelor of Arts in politics from Princeton University. Also, Powell earned a Juris Doctor degree from Georgetown University Law Center. For six years, he was at Dillon, Read & Co., an investment bank, where he concentrated on financing, merchant banking, and mergers and acquisitions, rising to the position of vice president. What he has done there, nobody knows. So, what I know is, he is a lawyer and a politician. I call him Towell. Why he got that job at Dillon to work in the investment banking with that kind of education is a mystery to me. Then he worked at the Treasury for 3 years to leave for Bankers Trust, which he left only after 2 years because they blew up clients’ money big time. And after that, he went to work for Carlyle, one of the most corrupt investment companies in the US, where a lot of politicians end up. After Carlyle, he wanted to open his own investment company, but apparently that did not work out well because after 3 years only, he worked for another fund, but also, only for 2 years to get into politics again and ended up at the FED. There is absolutely no evidence in Powell's CV that this guy has a sustainable track record in finance, nor any education in economics or finance. What a total nonsense to say this guy understands the workings of money.

[rachelsheve]

12:00 Hmm, sounds like you guys are pumping up Jay Powell here. This market doesn’t like Powell because his dot plot approach doesn’t give confidence about the interest rate decisions and doesn’t help that Powell is not a good communicator! Last year’s 18% drop was all because of Powell’s inability to communicate!