Alex Pollock has decades of experience in financial markets, including a position as President of the Federal Home Loan Bank of Chicago. He explains to Bob the mechanics of the Fed’s current insolvency and its implications for ordinary Americans.
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00:00 The White House, The Fed, and The Economy
00:40 Introduction
01:14 Alex Pollock’s Background
03:46 What is Insolvency
09:40 US Government Defaults
15:45 How the Fed Brings Money into the Economy
19:10 The Consolidation of Power in the Fed
25:52 Cash-flow mismatch at the Fed
42:40 Where does fed insolvency lead?
46:07 Why the Fed Can’t Print Its Way Out