Podcast appearances and mentions of louis federal reserve

With the Synapse bankruptcy case seemingly nearing some kind of conclusion, impacted end users are left wondering, will they ever get their money back?While, at this point, Synapse cofounder and former CEO Sankaet Pathak can't really answer that question, he is able to provide greater context on what happened and why.In this podcast, recorded as a X (formerly Twitter) livestream yesterday, November 11th, I had the chance to interview Pathak and impacted depositors had an opportunity to ask him questions directly.Key takeaways I had from the conversation include:* Pathak revealed that Evolve had sent him a cease and desist as a result of him posting what he says is an anonymized version of the trial balance report of the funds Evolve held for end users.* A description of the process by which Evolve prepared and sent files to Synapse for reconciliation, including a possible reason why balances between Evolve's systems and Synapse's appeared to varied substantially day to day, and Evolve's claim that this wasn't something to worry about, Pathak said.* Pathak said that Evolve was aware of and acknowledged that fees owed to Tabapay were improperly debited from customer funds, but that Evolve disputed whether it was the bank's fault.* Synapse didn't want Synapse Brokerage to contract with Evolve or keep the Brokerage's funds at Evolve due to the known shortfalls, Pathak said.* The plan with the Brokerage structure, per Pathak, was that incoming funds would land in users' DDA accounts at Evolve, a portion of those funds that users would transact with would stay at Evolve, and the rest would be swept out to AMG. However, Pathak says, in late September or early October 2023, Evolve, without explanation why, ceased processing sweeps out of Evolve to AMG.* Pathak described how Evolve's reversal of position on funding the FBO shortfalls led to the collapse of the deal for Tabapay to acquire Synapse's assets and, ultimately, the collapse of the company and freeze of end user funds.* Pathak acknowledged taking two loans from the company, one in late 2023 and one in early 2024, which totaled $320,000. The transactions, Pathak said, were approved by the Synapse board — though, at the time, the board consisted of Pathak himself, a seed round investor that, and a Synapse cofounder. While Pathak didn't name specific individuals, per filings in the bankruptcy case, the seed investor is Doug Marchant and the Synapse cofounder is Hilary Quirk. Pathak declined to elaborate on the purpose of the loans, besides saying he had “good reasons” to do it, which would “become obvious” relatively soon.* Full reconciliation should be possible, Pathak said, but it would require the right data, resources, people, and time.* Pathak acknowledged anonymously leaking a letter that Synapse had sent to Evolve to me (which I suspected at the time but didn't know until now.)* According to Pathak, Synapse's board of directors, which, at points, included Andreessen Horowitz's Angela Strange, Trinity Venture's Schwark Satyavolu, and Core Innovation Capital's Arjan Schütte, was broadly aware of the issues Synapse faced, that they were “trying to do the right thing,” and that the board ask Pathak “not to shut down and escalate.”* While Chapter 11 trustee McWilliams and Judge Martin Barash have made numerous references to not being able to confirm or deny if they have made any referrals to law enforcement, Pathak said that he is not aware of any criminal investigation and has not been contacted by law enforcement authorities, though he did acknowledge speaking with broker-dealer self-regulator authority Finra.* When asked if, in the regular course of its business, Synapse had any interaction with Evolve's regulators, the St. Louis Federal Reserve or the Arkansas Department of Banking, Pathak indicated that it did not.Additional Context & Fact Checking* Pathak suggested that Evolve or others not suing him for defamation should be interpreted as a sign that he's telling the truth. However, Evolve has explicitly stated that it believes Pathak's claims about a shortfall of end user funds and the causes of it are “based on ledgers that are demonstrably inaccurate and that his company prepared” (see FAQ #17 here.) It's also worth noting that Evolve may have other reasons to avoid filing such a suit against Pathak — namely, that Evolve would presumably have to turn over relevant documents as part of discovery in any such suit.* Pathak said that Synapse launched the brokerage sweep program in October 2023, in response to Evolve raising Synapse's reserve requirement and withholding interest payments owed to end users, fintech programs, and Synapse. However, the Synapse Brokerage entity had been up and running for sometime by this point, and Synapse had been working with many of its programs to migrate them to the new structure since significantly earlier in 2023.* Asked directly if Pathak or Synapse ever inappropriately used end user funds, including using end user funds to meet bank reserve requirements, Pathak said he was not aware of any instances of customer funds being misappropriated. Pathak described the allegation that Synapse used customer funds to meet reserve requirements at Lineage as “factually false.” However, Pathak's answer glosses over that it was Synapse that would have instructed from Evolve to Lineage and, per my prior reporting, represented that these were Synapse's own funds, not end users'.* Pathak also denied that Synapse knowingly allowed fees Synapse owed to be debited from end user funds, saying that, as soon as such issues came to the company's attention, it alerted Evolve and worked to fix them. However, Pathak did not specify if when these types of issues occurred, whether or not end user balances were made whole.* Asked about his robotics startup's attempt to raise funds and purported relationship with GM, first reported by me and subsequently confirmed by CNBC, Pathak described the CNBC reporter as “a piece of s**t” and “highly unethical,” alleging that the reporter contacted an auto industry union leader, not GM, leading the union leader to threaten a strike if GM didn't pull out of the deal. However, the CNBC piece quoted a GM spokesperson as saying, “GM has never invested in Foundation Robotics and has no plans to do so. In fact, GM has never had an agreement of any kind with the company. Any claims to the contrary are fabricated.” GM sent me a statement to the same effect.Existing subscriber? Please consider supporting this newsletter by upgrading to a paid subscription. New here? Subscribe to get Fintech Business Weekly each Sunday: Get full access to Fintech Business Weekly at fintechbusinessweekly.substack.com/subscribe

In this episode of the podcast, credit analyst Curtis Elkington provides a comprehensive overview of the $50 trillion global commercial real estate market. He covers the current headwinds facing various property sectors, such as pandemic-induced challenges in the office sector and touches on the surprising resilience of the retail segment. Elkington sheds light on the complexities of the commercial mortgage-backed securities market and details the credit analysis process his team uses to evaluate potential investments with examples. Key points from this episode: • Over the past four years, commercial real estate as an asset class has faced potentially the most significant of headwinds, most notably the pandemic and the rise in interest rates.  • While the pandemic had a different impact on each property sector within commercial real estate, higher rates had a much more uniform impact across the various industries. • The overall size of the commercial real estate market, which includes multifamily, office, retail, and industrial properties, is massive. In 2023, Savills estimated the total global property value was $50 trillion, of which the U.S. is the largest component. • Vacancy and capitalization rates are the two primary metrics used to assess the health of the commercial real estate sectors. In office, both vacancy and capitalization rates have increased significantly since 2019. • According to the St. Louis Federal Reserve, the 25 largest commercial banks have ~$860 billion in commercial real estate loans, which is only 6% of their collective assets. All the other banks outside of the top 25 have $2 trillion in commercial real estate loans, but that accounts for 30% of their total assets. • Over the past six months, the risk-reward on the credit side for several real estate companies was unattractive in all scenarios. • Some market participants believe that upwards of $100 billion, or 15%, of U.S. CMBS is currently mis-rated. • The credit team does two main things in its intensive analysis credit review. They assign a Mawer credit rating that's tied to valuation, and they establish a margin of safety that's tied to downside production. • With commercial real estate, just like any potential investment, the team reviews each issue and issuer on a case-by-case basis following a thorough and rigorous process before committing investor capital. Host: Rob Campbell, CFA, Mawer Institutional Portfolio Manager Guests: Curtis Elkington, CFA, Mawer Credit Analyst For more details and full transcript visit: https://www.mawer.com/the-art-of-boring/podcast/skyscrapers-and-storefronts-insights-on-the-commercial-real-estate-market-in-2024-ep165 This episode is available for download anywhere you get your podcasts. Founded in 1974, Mawer Investment Management Ltd. (pronounced "more") is a privately owned independent investment firm managing assets for institutional and individual investors. Mawer employs over 250 people in Canada, U.S., and Singapore. Visit Mawer at https://www.mawer.com. Follow us on social: LinkedIn - https://www.linkedin.com/company/mawer-investment-management/ Instagram  - https://www.instagram.com/mawerinvestmentmanagement/

In the first episode of our three part-series “Gen Z & the Debt Trap,” we explore a Credit Karma report that found Gen Z is accumulating debt faster than any other generation. To learn more, we'll meet Kyle Dillon, a 22-year-old Gen Zer who after leaving home to pursue higher education, accumulated tens of thousands of dollars in debt. We also look at a TransUnion study to see how Gen Zers' paychecks can't keep up with inflation, creating dependency on using credit cards. Plus, the St. Louis Federal Reserve shares a surprising advantage Gen Z has over other generations. Tadeo Ruiz Sandoval hosts.  Sign up for the WSJ's free Markets A.M. newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In the wake of the COVID-19 recession, many economists were describing the United States’ economic recovery as K-shaped. Basically, high-income Americans bounced back quicker than those at the lower end of the income scale. So, did we ever ditch that K shape? The person who coined the phrase “K-shaped recovery” back then, says no. On the show today, Peter Atwater, president of Financial Insyghts and adjunct professor at the College of William & Mary, explains why he believes economic inequality has grown since the pandemic recovery, why considerable wage gains for low-wage workers tell only part of the story and the risks of letting a K-shaped economy run wild. Then, we’ll get into how the fragility of global shipping supply chains could be playing into Federal Reserve decisions on interest rates. And, happy wedding anniversary, Susanna! Here’s everything we talked about today: “The ‘K’ Is Not OK” from LinkedIn “Inflation Is Bringing Back the K-Shaped Economy” from Bloomberg “Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans” from CNBC “A tight labor market and state minimum wage increases boosted low-end wage growth between 2019 and 2023” from the Economic Policy Institute “U.S. Wealth Inequality: Gaps Remain Despite Widespread Wealth Gains” from the St. Louis Federal Reserve “First publicly funded religious charter school in US ruled unconstitutional” from The Hill “Fed's Bowman Warns of Upside Risks to Inflation, Not Time to Cut” from Bloomberg “Supply Chain Under Strain as Houthis Intensify Red Sea Strikes” from The New York Times Support Make Me Smart: Marketplace.org/givesmart We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

In the wake of the COVID-19 recession, many economists were describing the United States’ economic recovery as K-shaped. Basically, high-income Americans bounced back quicker than those at the lower end of the income scale. So, did we ever ditch that K shape? The person who coined the phrase “K-shaped recovery” back then, says no. On the show today, Peter Atwater, president of Financial Insyghts and adjunct professor at the College of William & Mary, explains why he believes economic inequality has grown since the pandemic recovery, why considerable wage gains for low-wage workers tell only part of the story and the risks of letting a K-shaped economy run wild. Then, we’ll get into how the fragility of global shipping supply chains could be playing into Federal Reserve decisions on interest rates. And, happy wedding anniversary, Susanna! Here’s everything we talked about today: “The ‘K’ Is Not OK” from LinkedIn “Inflation Is Bringing Back the K-Shaped Economy” from Bloomberg “Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans” from CNBC “A tight labor market and state minimum wage increases boosted low-end wage growth between 2019 and 2023” from the Economic Policy Institute “U.S. Wealth Inequality: Gaps Remain Despite Widespread Wealth Gains” from the St. Louis Federal Reserve “First publicly funded religious charter school in US ruled unconstitutional” from The Hill “Fed's Bowman Warns of Upside Risks to Inflation, Not Time to Cut” from Bloomberg “Supply Chain Under Strain as Houthis Intensify Red Sea Strikes” from The New York Times Support Make Me Smart: Marketplace.org/givesmart We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

In the wake of the COVID-19 recession, many economists were describing the United States’ economic recovery as K-shaped. Basically, high-income Americans bounced back quicker than those at the lower end of the income scale. So, did we ever ditch that K shape? The person who coined the phrase “K-shaped recovery” back then, says no. On the show today, Peter Atwater, president of Financial Insyghts and adjunct professor at the College of William & Mary, explains why he believes economic inequality has grown since the pandemic recovery, why considerable wage gains for low-wage workers tell only part of the story and the risks of letting a K-shaped economy run wild. Then, we’ll get into how the fragility of global shipping supply chains could be playing into Federal Reserve decisions on interest rates. And, happy wedding anniversary, Susanna! Here’s everything we talked about today: “The ‘K’ Is Not OK” from LinkedIn “Inflation Is Bringing Back the K-Shaped Economy” from Bloomberg “Behind America’s divided economy: Booming luxury travel and a jump in ‘relief’ loans” from CNBC “A tight labor market and state minimum wage increases boosted low-end wage growth between 2019 and 2023” from the Economic Policy Institute “U.S. Wealth Inequality: Gaps Remain Despite Widespread Wealth Gains” from the St. Louis Federal Reserve “First publicly funded religious charter school in US ruled unconstitutional” from The Hill “Fed's Bowman Warns of Upside Risks to Inflation, Not Time to Cut” from Bloomberg “Supply Chain Under Strain as Houthis Intensify Red Sea Strikes” from The New York Times Support Make Me Smart: Marketplace.org/givesmart We love to hear from you. Send your questions and comments to makemesmart@marketplace.org or leave us a voicemail at 508-U-B-SMART.

Today is 2/11/24 which is the Superbowl with the Kansas City Chiefs vs. the San Francisco 49'ers and this marks the 57th time that this game will have been played. This is a large amount of years, so we decided to run some math based on the amount at which things are consumed and what they cost. Let's start with advertising and the cost for a one minute spot during the game:In 1967: $37,500. For 2024: $7 million. This equates to an increase 185 times. To further that, this means gas would be $61 per gallon and the S&P would be at 16,000 - for context today it is at 5,000As for as food and beverage:Chicken wings would be $43/lb. A 6-pack of beer: $340.A bag of Doritos $18.5.So needless to say, for most items, they only increase in price and this led us to look into inflation and compound interest. For example, that $1 football square would be $9.18. How about the average house? According to the St. Louis Federal Reserve, it was $24,400 and in February of 2024, it is $492,300So let's just put it out there . . It is expensive to be an American. Therefore, the best plan of attack is to budget and live within your means. In unison, the mission is to invest in yourself and build a moat for your future while balancing inflation. 'For context, the S&P since 1926 has averaged a return of approximately 10% and a 7% return when factoring in inflation. If we were to emulate that, we can invest in exchange traded funds that closely mimic these returns such as the tickers of SPY, IVV, VOO and SPLG. For context VOO has returned 9.99% over the last 30 years. According to Forbes, the average American works 42 years before taking retirement, so let's see how much money adds up over time without inflation and expenses:At $100 a month, the amount would be $679,602.At $250 a month, the amount would be $1.69M.At $500 a month, the amount would be $3.39M.So this is fantastic and this shows the power of compound interest - and the reminder is that the more that you can invest, the more you make and you let the market do its thing. So the next question is … will this prompt you to look at your budget and find a few dollars to put away? All it will do is make you money. Website:https://www.somethingonmymind.net/Social Media https://www.instagram.com/somm.podcast/https://www.youtube.com/channel/UChec5qcZBcGkIhUU3belNDwhttps://www.tiktok.com/@somm.podcast?lang=enhttps://www.facebook.com/somm.podcasthttps://twitter.com/Somm_podcast

In this CEO Edition of Steel Stories, U. S. Steel President and CEO Dave Burritt welcomes Jim Bullard, former President of the St. Louis Federal Reserve and current Dean of the Mitchell Daniels School of Business, for an insightful discussion on current economic challenges and the direction of the U.S. economy. Jim shares his firsthand experience of navigating key financial events such as the Great Recession and the recent pandemic as well as his transition from a central banking career to an academic role.

How do you find your new idea?What does it take to attract a team of true believers?And what does glass-blowing have to do with entrepreneurship? Hint: the key is timing.All of these questions are answered in my newest episode of From Start-Up to Grown-Up with Jim McKelvey, the Co-Founder of Block (previously known as Square)!Jim McKelvey is best known for co-founding Square, now called Block.  He also founded LaunchCode.org, which has provided free training and jobs for thousands of aspiring programmers.  He is the former Chair of the St. Louis Federal Reserve and a trustee of Washington University. Jim is also an artist/designer. Art of Fire is the world's top textbook on glassblowing and his industrial designs are in both the Smithsonian and Museum of Modern Art. He co-founded Third Degree Glass Factory, one of the top centers for glass artwork.   He is currently working on a plastic-free diaper. Jim's book, The Innovation Stack, explains how industry-creating innovations actually happen.Learn more about Block | Websitehttps://block.xyz/Connect with Alisa! Follow Alisa Cohn on Instagram: @alisacohn Twitter: @alisacohn Facebook: facebook.com/alisa.cohn LinkedIn: https://www.linkedin.com/in/alisacohn/ Website: http://www.alisacohn.com Download her 5 scripts for delicate conversations (and 1 to make your life better) Grab a copy of From Start-Up to Grown-Up by Alisa Cohn from AmazonLove the show? Subscribe, Rate, Review, Like, and Share!

Pittsburgh is one of only four large metropolitan cities where the rate of income has gone up faster than the rate of rent. Clever Real Estate looked at income and rent numbers for the 50 largest population areas of the United States.  It crunched income numbers from the US Census Bureau and rent statistics come from the St. Louis Federal Reserve.  Jamie Seale is a Strategist with Clever. She joined Rick Dayton on KDKA Radio Thursday to discuss their findings.

St. Louis Federal Reserve president James Bullard and head of the Cleveland Fed Loretta Mester roil markets late in the week after suggesting the Fed could raise rates for longer than anticipated. How does the rate hike path affect investing strategies? Bloomberg Chief Rates correspondent Garfield Reynolds discusses what this week's market moves mean for investors and breaks down recent bond market activity. Bloomberg Opinion columnist Tim Culpan takes a close look at Japanese conglomerate SoftBank and explains why it might seem too big to fail, but actually is not. Opinion's Alexis Leondis also joins, talking about the inflation pinch on childcare and why the tax code cannot keep up with costs.See omnystudio.com/listener for privacy information.

A new report from the St. Louis Federal Reserve shows that COVID stimulus spending played a huge role in today's inflationary economy. Eric Boehm from Reason joins Inside Sources to explain how much this spending added to the inflationary pressure and why we need a change in fiscal policy rather than just monetary policy if we want to get our economy back on track. See omnystudio.com/listener for privacy information.

Bloomberg News anchor Kathleen Hays sits down with St. Louis Federal Reserve director of research Carlos Garriga and Homer Jones winner Eswar Prasad in St. Louis. Hosted by Kathleen Hays.See omnystudio.com/listener for privacy information.

People here and there are freaking out these days, saying housing is so expensive nowadays. Well yes, they're right, if we compare it with how things have been in the past recent years, but when you compare it to a longer point of history, you'll actually be surprised at how cheaper it really is! That's exactly what this episode is about, with today's guest explaining the statistics behind that. Join us as we dive into the numbers that prove housing isn't as expensive as you think! Jason Hartman is the CEO of Empowered Investor and Real Estate Tools. He started a career in real estate when he was still in college, investing in his own portfolio while brokering properties for clients. Through creativity, persistence, and hard work, he soon joined the ranks of the top one-percent of Realtors in the US, which then led to him being involved in several thousand real estate transactions, owning income properties in 11 states and 17 cities today. Jason's companies help people achieve The American Dream of financial freedom by purchasing income property in prudent markets nationwide. In this episode, Jason goes through the detailed explanation on why housing is actually cheaper than you think, with his points revolving around the data in St. Louis Federal Reserve's chart, going through the history of interest rates, mortgage payment, and the market. Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/ What you'll learn in just 29 minutes from today's episode: Understand the reason why people think housing is so expensive Find out what's going on nationally with the real estate market through data explained from St. Louis Federal Reserve's chart Discover how housing is actually cheaper than what you think, through an actual calculation of the cost per square foot, per month, adjusted for inflation Resources/Links: Check out Jason's slide deck and get your own copy by going to https://www.jasonhartman.com/slides Visit the Shadow Government Statistics and have access to the analysis behind and beyond government economic reporting. Just go to http://www.shadowstats.com/ Learn more about the work Jason does by visiting his website: https://www.jasonhartman.com/ Topics Covered: 02:41 – What's going on nationally with the real estate market 05:06 – Mortgage data shown on the chart of the St. Louis Federal Reserve 08:17 – The reason why people think housing is so expensive 10:32 – Then and Now: Calculating the Consumer Price Index (CPI) the way the government does it 14:39 – The Consumer Price Index (CPI) is a complete fraud 15:32 – Difference in typical homes back then and today, then connecting it to the data in chart 17:43 – Calculating the cost per square foot, per month, adjusted for inflation 19:40 – The increase in house inventory in line with the rising interest rates 22:51 – Two more things you need to consider, according to Jason Hartman 27:17 – Go to https://www.jasonhartman.com/slides for the slides Key Takeaways: "Real estate is really quite a bit cheaper than people think, believe it or not. And remember, nobody really buys a house on the price of a house; they buy it on the payment of the house.” – Jason Hartman “When everybody's screaming about housing – ‘So expensive!' – they're right if you compare it to 18 months ago, but they're not right if you compare it to a longer point of history.” – Jason Hartman “Here's why everybody thinks housing is so expensive – it's because of something called hedonic adaptation. We, as humans, just keep raising our expectations. We are never content. That's the nature of human psychology. No matter what we get, we want more; we want better. And that's exactly what we're doing here; we're just expecting more.” – Jason Hartman “Those dollars are worthless. It's not really that the mortgage payment has gone up; it's that the value of the dollar has gone down.” – Jason Hartman “Inventory tells the picture.” – Jason Hartman “The market is reacting to the current interest rates; it's not reacting to the future interest rates.” – Jason Hartman “You've got to understand that investing is not about appreciation; that's just the icing on the cake. The icing has been fantastic the last couple of years; no one will deny that. But what we got to remember is that investing is about yield, and yield comes from cash flow, and rents are skyrocketing. Rents always lag prices by about two to three years. So, rents have gone up already, but they are going up a whole heck of a lot more; they are going to be higher in the next few years. So that's the other reason that I don't think investors should be very worried about the market – because they're investing for yield, not for appreciation, hopefully, and that's why that matters.” – Jason Hartman Connect with Jason Hartman: Website: https://www.jasonhartman.com/ YouTube: https://www.youtube.com/channel/UCpGNsrLsGR1viGHoEbSCabA Podcast: https://www.jasonhartman.com/podcast/ Connect with Dave Dubeau: Podcast: http://www.propertyprofitspodcast.com/ Website: https://davedubeau.com/home Investor Attraction Workshop: http://www.investorattractionworkshop.com/ Facebook: https://www.facebook.com/thedavedubeau LinkedIn: http://linkedin.com/in/davedubeau  

Today's guest is a NYT Bestselling Author, the Co-Founder of Square, the Chairman of the St Louis Federal Reserve, and a Professional Glass Blower. That's not all either. Jim McKelvey is one of the most purebred entrepreneurs we've ever met, and he's here to help us tell ourselves the truth about innovation, entrepreneurship, and how to stack your laptop on laundry baskets for a zoom call. What we discuss with Jim McKelvey:00:25 - Paul recounts how he was introduced to Jim's book, “The Innovation Stack,” and how it completely changed his perspective on entrepreneurship. Jim offers a realistic and hope filled look at entrepreneurship by creating a space where it's normal to fail often and learn from one's mistakes — a stark contrast to the beaming “checklist” culture that has been perpetuated online. 04:31 - Jim immediately disarms any nerves Paul, Kyle, and Michael might've had prior to the interview by joining from a remote cabin in Wisconsin. “Total disclosure, this is the bedroom ‘cuz it's the quietest room in the house and I've got my laptop stacked on laundry baskets.” 05:28 - Jim offers his thoughts about everything that's happening inside the retail automobile industry from his vantage point as an “outsider.”“It's really interesting. You've got some direct sales models that are breaking up dealerships, cars are lasting longer, so service is becoming a greater profit component than sales. The used car market is crazy. One of my friends runs Enterprise, so I get to hear about buying cars by the tens of thousands, and it's nuts!”08:40 - In addition to being the founder of Square, Jim is also involved deeply in the economist side of small businesses and the role they play in the economy. As the Chair of the St. Louis Federal Reserve, Jim has a unique vantage point into economic drivers and what possible impacts there may be across several industries, including automotive. He explains that automotive is a great leading indicator for the rest of the economy, albeit skewed by the last two years of the pandemic. “Does the chip shortage sort of mess up that indicator? If we could get the car, we'd buy the car, but we can't get the car so we're going to satisfy ourselves with something else.”11:54 - Is it even possible to create a predictable business formula when the last two years have provided a skewed outlook on the market? “It's driving predictable business people. Crazy. Like if you're used to following a formula and that formula's been working for 25 years, the last thing you want is what we've just lived through. And we're what we're gonna go live through. Like, it's, it's just so much change. And what I talk about a lot in the book is that there's this mindset of the entrepreneur and it's not something that's pleasant.”Listen to the full episode for more insights and context from our conversation with Jim McKelvey!⭐️ Love the podcast? Please leave us a review here — even one sentence helps! Consider including your LinkedIn or Instagram handle so we can thank you personally! We have a newsletter! ✉️ Sign up for our free and fun-to-read daily email for a quick shot of relevant news in automotive retail, media, and pop culture. 

The Federal reserve bank of st louis is studying the impact of the pandemic on the wealth gap and how it can be closed. Bill Rodgers vice president and director, Institute for Economic Equity, St. Louis Federal Reserve joins Carol and Tom

Finding the perfect problem is like falling in love. You can't always choose the when or the what, but when it happens, you need to be ready to take action. In the second half of this two-part episode with Jim McKelvey, author of The Innovation Stack, we dive into the ways that finding your perfect problem parallels falling in love, and why having a lot of money doesn't solve all business problems; often it creates more. More About Jim: Jim McKelvey is a glassblower, father, entrepreneur, author, aviator, computer programmer, chairman of the St. Louis Federal Reserve, and inventor, and that is just scratching the surface. As for where to connect? As he puts it, “Please don't ask me to connect on Facebook, WhatsApp or Instagram. I'm not there. I've got better things to do. And frankly, so do you.”

How can you find — and attempt the great feat of solving — your perfect problem? That's what I'm talking about today with my guest, Square co-founder Jim McKelvey. His book, The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time, is one of the funniest and most engaging business books I've read. We met at TED through our mutual friend Jon Levy, and had the great joy of recording together in person at a studio in midtown Manhattan. In the first half of this two-part episode, we delve into fending off an attack from “the perfect predator” of competition, Amazon. More About Jim: Jim McKelvey is a glassblower, father, entrepreneur, author, aviator, computer programmer, chairman of the St. Louis Federal Reserve, and inventor, and that is just scratching the surface. As for where to connect? As he puts it, “Please don't ask me to connect on Facebook, WhatsApp or Instagram. I'm not there. I've got better things to do. And frankly, so do you.” “People who want to build something new often feel they lack sufficient expertise. Their assertion is correct, but not complete. The same lack of expertise applies to everyone on the planet. Innovation has no experts.” —Jim McKelvey

In this episode of Bitcoin Magazine's Fed Watch, CK and I catch up on the Freedom Convoy donation situation, dissect Jon Stewart's wake up call with James Hoenig, former Fed President, Fed signaling around CPI and the emergency FOMC meeting, and lastly the scandal that is brewing around Sarah Bloom Raskin's nomination being delayed. This is a longer episode where we just let the conversation go where it wants to. Fed Watch is a podcast for people interested in central bank current events. Bitcoin will consume central banks one day, understanding and documenting how that is happening, is what we are about here at Fed Watch. Crowdfunding with Bitcoin  The donation drama around GoFundMe and GiveSendGo has now spilled over to the Bitcoin fundraiser on Tallycoin. As a quick update, GiveSendGo refused to comply with the Canadian court order to freeze the Freedom Convoy funds, however, when they distributed some of the funds to Canadian bank accounts, the funds to the peaceful protestors were frozen on the bank's side. This highlights the multiple layers of censorship that the legacy financial system has, and the need for bitcoin. The honkhonkhodl fundraiser is also running into a few hiccups due to the illegal invocation of the Emergency Act in Canada. The fundraiser had to be stopped because the public faces of the campaign could become targets of the out of control Gestapo government up there.  Overall, the Tallycoin fundraiser was a great success and the community learned some very important lessons. The keys to the bitcoin have now been distributed and sending of the funds to the protestors has started. There was also a hack of the GiveSendGo campaign which doxxed 90,000 donors, the amounts they donated, and other personal information. It showed that roughly 45% of the funds came from Americans, not Canadians. This opened the door for dishonest rhetoric from the government calling it “foreign funding” of an insurrection, instead of just Americans and Canadians coming together for freedom. This rhetoric fits into the mold of the “Russia hoax” and is a sign of a government that has totally abandoned its duty to serve the people. Federal Reserve tries to explain debt-based money On the show, we watch a clip of former Kansas City Fed President, James Hoenig, trying to explain money printing to Jon Stewart. It's absolutely hilarious to watch Stewart being red pilled on the financial system in real time. I believe that Hoenig is attempting to explain it all in good faith, but makes a couple mistakes. 1) he says the Fed is the only source of money printing. That is empirically false and misleading, because commercial banks are the source of money printing when they make loans. The Fed only prints reserves, an illiquid asset. 2) Hoenig says that bitcoin is faith-based like the dollar. Instead, bitcoin is not faith-based debt like the dollar, it is a real form of commodity-backed money. The part Stewart cannot wrap his head around is, if the Fed prints money, why can't they print money to pay off all our government debt? A very important question. Hoenig tries to explain that all they can do is an asset swap (QE), where they trade an asset (the debt they are trying to get rid of) for a reserve (an illiquid replacement asset, not real money). It is confusing because Hoenig says they print money in one breath and then says they don't print money, they print debt in the next. CPI Panic The January CPI print sent shockwaves through the markets this week. Immediately, the market began pricing in an inter-meeting rate hike, and a 50 bps hike at the March FOMC meeting. The Fed played along, calling an emergency meeting that met on Monday, Feb 14th, to discuss the situation. By that time however, the market had settled down and was no longer pricing in the inter-meeting hike. There is general agreement amongst FOMC members that a March rate hike is appropriate, but that is about all they agree on. They are in the same boat as everyone else, watching the market and waiting. Sarah Bloom Raskin Delay My latest op-ed on Raskin was well-timed. We discuss the growing scandal that Senator Lummis bravely started in the Senate Banking Committee hearing last week, and which now has led to, at least, a delay in Raskin's appointment. From my article: The real fireworks started at the 1:55:50 mark, when Senator Cynthia Lummis of Wyoming, a friend of Bitcoin, took the mic and absolutely grilled Raskin about Federal Reserve master account access, and her possible indecent connection to the one and only fintech company with a master account, which received that master account while Raskin was on its board in 2018. Lummis laid out compelling circumstantial evidence that Raskin served at the Fed from 2010 to 2014, then the Treasury from 2014 to 2017. After her time in government, she joined the board of Reserve Trust in Colorado, which was denied a master account in 2017, but then was granted a master account after Raskin made a call to the St. Louis Federal Reserve on its behalf. Again, it's important to note that it is the only non-bank to be given that honor, even as dozens in Lummis' home state of Wyoming have failed to make headway in the last two-and-a-half years. A year after the master account was secured, Raskin left the board, bought out for $1.5 million. Mic drop. Sarah Bloom Raskin is a globalist pick who promises to bring a progressive political bent to the Federal Reserve. She is friends with bitcoin enemy Senator Elizabeth Warren and is the wife of highly partisan Jamie Raskin. The delay of her appointment is a silent battle in the informal fight between the globalist progressive Davos crowd and the nationalist-oriented crowd, which Powell represents. That's my take on things at least. That does it for this week. Thanks to the watchers and listeners. If you enjoy this content please SUBSCRIBE, and REVIEW on iTunes, and SHARE!

We had never met a billionaire before and were curious to know what a day in the life was like! While we certainly had a lot of fun asking this question, Jim ALSO gave such great insight about entrepreneurship as we asked many questions about his book, The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time. Jim's hope in writing the book was to empower everyday people to address some of our world's toughest problems through changing how we think about new ideas.This interview is such a treat, and we think you're really going to enjoy it! And, for what it's worth, Jim doesn't sound like a stereotypical billionaire, so we'll still have to find another someday for different awkward questions!*******Jim McKelvey is a serial entrepreneur, inventor, philanthropist, artist, and author of The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time. He is the cofounder of Square, and served as the chairman of its board until 2010, and still serves on the Board of Directors. In 2011, his iconic card reader design was inducted into the Museum of Modern Art. McKelvey founded Invisibly, an ambitious project to rewire the economics of online content, in 2016. He is a Deputy Chair of the St. Louis Federal Reserve.jimmckelvey.com*******The Third Place Podcast is a weekly podcast that invites listeners into the hard conversations that we have a tendency to avoid.We “go there” on things such as…How anger is beautifulHow to find presence amidst chaosHow to have difficult conversationsHow to be an allyHow to live with griefThe Third Place is a safe place where curiosity is encouraged, differences are welcomed, and empathy is embraced through healthy dialogue.We've forgotten how to talk to each other… Life has become polarized and dualistic - you're either with me or against me. To embrace the complex human experience is to see the world through other's eyes. The Third Place podcast helps with the disconnect. This looks like less conflict and tension and more like a peaceful existence with others. The Third Place podcast restores the art of dialogue.For additional resources and if you're interested in supporting the work of The Third Place Podcast, check out our Patreon page.Support this podcast at — https://redcircle.com/the-third-place/donations

The complete Quarterly Summary is available on the B|O|S website here.The following are important footnotes from this episode:[1] Source: Atlanta Federal Reserve website2 Per the Wall Street Journal, the Fed has been purchasing $80 billion of U.S. Treasury bonds and $40 billion of mortgage-backed bonds every month since June of 2020.3 Source: American Association of Individual Investors website 4 Source: FINRA website, data through May 20215 Source for inflation data: St. Louis Federal Reserve website, core CPI was most recently as high as 3.8% in June 1992.6 Source St. Louis Federal Reserve website: spot price of West Texas Intermediate oil. On April 20, 2020, the oil price ended the day with a negative value due to disruptions in the oil futures market.7 CPI inflation averaged a 1.8% annual rate in the five years preceding the pandemic.For important disclosures, please see bosinvest.com/disclosures.

In this episode we interview Jim McKelvey, Co-Founder of Square and Author of The Innovation Stack. We dive into how you can utilize innovation to build an unbeatable business one crazy idea at a time.Jim McKelvey is a serial entrepreneur, inventor, philanthropist, artist, and author of The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time. He is the cofounder of Square, and served as the chairman of its board until 2010, and still serves on the Board of Directors. In 2011, his iconic card reader design was inducted into the Museum of Modern Art. McKelvey founded Invisibly, an ambitious project to rewire the economics of online content, in 2016. He is a Deputy Chair of the St. Louis Federal Reserve. Find out more here: https://www.jimmckelvey.com/

A paper published by the Federal Reserve Bank of St. Louis explores the growing prominence of decentralized finance and Ethereum's key part in it's expansion. Source Article: https://cointelegraph.com/news/defi-may-lead-to-a-paradigm-shift-says-federal-reserve-bank-paper --- Native Assets is a blockchain firm specializing in educational seminars, detailed research, indusutry analysis & corporate advising. Our mission? To empower you with the knowledge & insights to navigate + flourish in the new digital era - the blockchain era. --- Become A Student https://www.nativeassets.co/foundatations Join Our Private Network https://www.nativeassets.co/privatenetwork Connect With Us https://www.linkedin.com/company/nativeassets/ Become An Affiliate https://www.nativeassets.co/Affiliate For More Visit https://www.nativeassets.co/ --- Send in a voice message: https://anchor.fm/nativeassets/message

"As we come out of the pandemic, instead of just absentmindedly letting your time get filled back up for you, maybe choose to keep a few things compressed and use that time for something else. I am looking forward to having my life back, but also looking forward to having more control over the things I don't want to do." Support Talking Beats with Daniel Lelchuk on Patreon. You will contribute to continued presentation of substantive interviews with the world's most compelling people. We believe that providing a platform for individual expression, free thought, and a diverse array of views is more important now than ever. Inventor, entrepreneur, and philanthropist Jim McKelvey is here. In this wide-ranging conversation, he and Daniel talk about what it means to be faced with what Jim calls "a perfect problem," and how certain people are able to see the solution right in front of them. What is an inventor in modern times? Why is Square, the company he cofounded with his friend Jack Dorsey, such a game changer when it comes to small merchants being able to thrive? What does true vision look like? The conversation takes some unexpected turns as well, as Jim and Daniel discuss everything from glass blowing to musical timing to the great pianists of the past. James McKelvey is a serial entrepreneur, inventor, philanthropist and artist. He is the cofounder of Square, was chairman of its board until 2010, and still serves on the Board of Directors. In 2011, his iconic card reader design was displayed at the Museum of Modern Art. In 2016, McKelvey founded Invisibly, an ambitious project to rewire the economics of online content. In 2017, he was appointed as an Independent Director of the St. Louis Federal Reserve.

Data from the St. Louis Federal Reserve shows married women are leaving the workforce in huge numbers. It appears many are staying home to care for elderly relatives and children during the pandemic.

Last week, the Federal Reserve announced changes in how it will target inflation. We will provide some context to this change in policy as well as consider some challenges ahead in policymaking.  Thank you for subscribing, and if you enjoy reading this, please forward the newsletter to your friends. ~ Kevin When some folks see these words, “Average Inflation Targeting” together their eyes get heavy.  However, often the consequential things in our lives are not necessarily the things we get excited about.  (Sorry that sounds like something a parent would say.) Once you read all the way through this newsletter you will be rewarded with a joke.  Economists know people follow incentives. Average Inflation Targeting is an important concept both in practice and in what it says about monetary theory.  First, we will take a look at economic theory, recent decades of practice, and then how this may play out.  Like most other aspects of our social world, there remain many unknowns and puzzles.  Among the unknowns are subjects we thought we understood, but over time we realize there are still more unknowns.  This is the case with how monetary policy affects inflation.  The general idea is that inflation follows when there is more money circulating in the economy than what is in line with the demand for purchased goods and services. The Federal Reserve’s statutory mandate is to manage inflation and secure full employment.  These guidelines from Congress are transformed into the Federal Reserve’s policy objectives.  For decades these objectives were sought through broad policy practices, namely trading government treasuries to hit a target short term interest rate.  Over time the Federal Reserve has adopted additional tools but, in practice and effect, the newer tools resemble the earlier ones.  These tools have been key during times of crisis like in 2008 and 2009, as well as today.  The general assumption is that low-interest rates stimulate economic activity as well as inflation.  While there is robust support for this argument, I will assert that the inflation puzzle is not as complete as we had assumed. There may be parts of the puzzle we do not quite grasp, and we might not know what pieces are missing.  However, that does not mean that interest rates are inconsequential.  No one is arguing that.  Monetary policy, including interest rates, is a vital variable in explaining inflation. Imagine you were working for the Federal Reserve and your goal was to hit a target for inflation of 2%.  Over the years you and your team should be pretty pleased because you have wound up close…at about 1.5%.  However, over time you get curious and ask why the result usually comes in under the target. George Mason University economist David Beckworth effectively illustrated this trend a few years ago through a target graphic, which reflects that academia and the Federal Reserve have been discussing this puzzle for about half a decade. The proposed solution is to slightly adjust the targeting approach.  In other words, if we were looking at a target and routinely undershot the bullseye, we would adjust the sights.  In fact, if we were uncertain about precision we might aim slightly above the bullseye, assuming that on average we would get close to the target. This is why the Federal Reserve statement says it, “seeks to achieve inflation that averages 2 percent over time.” To achieve this objective, “following periods when inflation has been running persistently below 2 percent, appropriate monetary policy will likely aim to achieve inflation moderately above 2 percent for some time.” James Bullard, president of the St. Louis Federal Reserve defended the revised approach.  “There was a perception both in markets, and perhaps in the policy making community as well, that 2% inflation was some kind of a ceiling,” he said. “Inflation expectations should be moved up a little bit now in markets in response to this.”  What Bullard (who is not alone) is introducing into this puzzle is the role that expectations have on inflation.  In other words, the behavior of consumers and businesses is impacted by a general assumption of inflation that is informed by their past.  As human beings, we incorporate expectations into a whole range of decisions.  Economists started incorporating this back into economic theory, as argued by Muth, in the 1960s.  While we can think of this expectation as a factor, it is not always easy to measure.  Thus, the reliance on the original monetary tool of interest rates. This average inflation targeting approach is expected to be debated. But what is most likely to happen is that, over this decade, the Federal Reserve will be comfortable with inflation slightly above 2% (meaning brief periods of 2-3%) and will slowly raise rates to tamp down inflation.   In practice this could mean that the Federal Reserve delays for a few quarters what would have been assumed under the previous practices to be the proper time to raise rates to get closer to the 2% target on average. A few newsletters back I discussed some of the future challenges the U.S. faces with constrained monetary and fiscal tools as a result of the national debt. Some choices exist on paper but in practice are limited by the impact of the debt. This is a similar problem to the challenge policymakers faced this year when thinking about economic stimulus to support the economy while not simultaneously stimulating social activity that would spread a virus.  There were a range of policy choices that had to be fundamentally reconsidered.  I expect similar effects will be seen in the future with this constraint on monetary and fiscal policymaking, even assuming the figures and institutions reach an agreement. Promised Joke:News:I am enjoying the chance to share these newsletters with you in the form of the new podcasts and appreciate your continued feedback. You can reply to this email or leave your comments below.  I sincerely enjoy chatting and learning what folks think. Thank you ~ Kevin Get on the email list at modlinglobal.substack.com

The head of the Memphis branch of the Fed – technically the Memphis branch of the St. Louis Federal Reserve, which is part of the overall Fed system – is Douglas Scarboro, Senior Vice President and Regional Executive. Douglas joins the Extra Podcast to talk about the Memphis branch, but also to give his views on the economic losses associated with systemic racism.

On today's episode, we sit down with Jim McKelvey. Jim is the co-founder of Square, a financial services, merchant services aggregator, and mobile payment company. In 2009, Jim designed a card reader which in 2011 was inducted into the Museum of Modern Art. Jim then teamed with other St. Louis-based serial entrepreneurs to help found Cultivation Capital which was ranked the 7th most active venture capital firm founded since 2009, and the 3rd most active lead investor and since 2017, McKelvey has been appointed as an Independent Director of the St. Louis Federal Reserve.     In this episode, you'll learn: Why you can't be an expert as an entrepreneur About Jim's new book “The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time” The incredible story of how he first met Jack Dorsey (cofounder of Twitter) and how they built Square together The story of the man that if he had wanted could have been the richest man ever to have lived     BOOKS AND RESOURCES Download yourfree audiobook at Audible. Visit Jim's Website Follow Jim on Twitter or connect on LinkedIn Read Jim's new book Read “Good to Great” by Jim Collins   GET IN TOUCH WITH SHAWN https://linktr.ee/ShawnflynnSV   Shawn Flynn's Twitter Account Shawn Flynn's LinkedIn Account Silicon Valley LinkedIn Group Account Shawn Flynn's Facebook Account

Right now, the Federal Reserve is pumping trillions of dollars of stimulus into the economy. So what does this mean? How are small businesses doing? When will people go back to work? And how does this impact the economy? I called up Jim Mckelvey. He's the co-founder of the multi-billion dollar business, Square. AND, more importantly, he's the Deputy Chair of the St. Louis Federal Reserve. He tells us how the stimulus works, what the risks are, what we should keep an eye on and more. Jim is also the author of the new book, "The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time." It's a great guide book for today's entrepreneurs. I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: YouTube Twitter Facebook Linkedin ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn

Darrell Castle talks about the war on the virus, how the world's economies have shut down, the United States has intentionally put itself into negative GDP to fight it, and now faces a terrible choice. Transcription / Notes: A JOURNAL OF THE PLAGUE YEAR—A TERRIBLE CHOICE Hello, this is Darrell Castle with today's Castle Report. Today is Friday, April 3, 2020, and on this Report I will be talking about the virus because nothing else is happening anywhere except the War on the Virus. The world's economies shut down and the United States intentionally puts itself into negative GDP in an effort to slow the spread of the virus. It seems to be a World War against an enemy so small only an electron microscope can see it. Here at the Castle Household we are in day 14 of quarantine, or day 14 of Castles held hostage. I guess that means Joan and I do not have the virus although I've seen reports of symptoms waiting a few more days to manifest. Nevertheless, we are grateful that we and our family, as well as our law firm staff and their families, are symptom free. We continue to work in lonely isolation, however, because Caesar has decreed that our isolation must continue for another month. The family daughter continues her symptom free isolation on a small island near the bottom of the world. I wonder how long this can go on without total destruction of the American economy. The answer is not that much longer as we will see in a moment. Restaurants, bars, retail shopping, churches, whole cities shutting down as the world's economy contracts radically. Work is not being done, wages are not being earned, and things are not being made for other people to buy. It suddenly seems to have occurred to people that without revenue neither governments nor individuals can pay their bills so perhaps the virus will bankrupt more people than it kills. In talking with people via the Internet from around the world it seems that the world is teetering on the brink of uncertainty. What will happen to us and to our countries? No one seems to know. We do know the results of uncertainty when we have seen it in the past. The great American detective Lieutenant Columbo once said, to understand something you must understand its past. So we can look at history, when we find it in pure form, and mix in a little human nature, and hopefully, out comes reality, as well as a view of what has happened in the past. People accept debt and don't mind leverage when they have confidence of future ability to service that debt. When confidence is high, people are heavily indebted since they don't wait to buy that new car, or that new house. When people lose confidence in the future, certainty is destroyed and they wonder; will I have a job tomorrow, will I lose the ability to meet the debt service that I have. In that case, we stop spending and circle the wagons. We go into defensive mode and perhaps contemplate what default will mean for us and our families. The result of all this is that, according to the St. Louis Federal Reserve, second quarter unemployment could reach 32% which would exceed the maximum under the Great Depression. It was 24.9% in 1933 at the peak of the depression. GDP will contract in the 1st quarter by as much as 30% for the first time in many years. According to TSA, airport passenger traffic was down 90% for the month of March. 3.2 million Americans applied for unemployment benefits two weeks ago, a record number many times over, but last week its even worse at 6.6 million. The previous high was 695,000 in 1982. The Dow Jones Industrial Average (DOW), which those in power like to use as a re-election measure, is down 34% peak to trough. Call it whatever you want, but I'm calling it the worst collapse of the American economy since the great depression. People react to all this news in different ways. Some are very nonchalant hardly paying attention at all. These folks seem to believe that the reaction of most is paranoid and way out of proportion.

David Andolfatto, senior vice president at the Federal Reserve Bank of St. Louis, gives his thoughts on Facebook's Libra, including why regulatory issues will make it hard to compete with the US dollar, and why Bitcoin wouldn't have such issues. He also says, "who cares?" about the US dollar losing global reserve status, pointing out that many prosperous countries have currencies that don't function as global reserves. He tells us how he would design a central bank digital currency, and why, even if central banks enabled citizens to open accounts with them, thus bypassing commercial banks, it wouldn't drive banks out of business. We also cover how that could affect fractional reserve banking and credit creation, the People's Bank of China's soon-to-be-issued digital yuan, and why blockchains haven't yet substantially helped the unbanked, as they were originally touted to do. Thank you to our sponsors!  Kraken: https://www.kraken.com CipherTrace: http://ciphertrace.com/unchained Crypto.com:  https://crypto.com Episode links:  St. Louis Federal Reserve: https://www.stlouisfed.org David Andolfatto: https://research.stlouisfed.org/econ/andolfatto/sel/ David's blog: http://andolfatto.blogspot.com Letter from House Reps to Fed Chair Jerome Powell: https://static.coindesk.com/wp-content/uploads/2019/10/Foster-Hill-US-Crypto.pdf Talk on blockchain, cryptocurrency and central banks: https://www.stlouisfed.org/dialogue-with-the-fed/blockchain https://www.stlouisfed.org/~/media/files/pdfs/dwtf/blockchain_082918.pdf?la=en Blog post on cost efficiency of a centrally managed ledger: http://andolfatto.blogspot.com/2017/12/fedcoin-and-blockchain.html?spref=tw David's paper on the impact of central bank digital currency private banks: https://s3.amazonaws.com/real.stlouisfed.org/wp/2018/2018-026.pdf Raskin and Yermack paper: https://ccl.yale.edu/sites/default/files/files/Raskin_Max_and_Yermack_David_The%20Future%20of%20Central%20Banking.pdf David on FedCoin: http://andolfatto.blogspot.com/2015/02/fedcoin-on-desirability-of-government.html  Philadelphia Federal Reserve banker Patrick Harker on a G20 CBDC being inevitable: https://www.reuters.com/article/us-usa-fed-harker-digital/feds-harker-digital-central-bank-currency-inevitable-idUSKBN1WH1L4 Related Unchained interview: Dong He and Yan Liu on central bank digital currencies: https://unchainedpodcast.com/the-imf-on-how-to-design-central-bank-digital-currencies/

Part of our central banking perspectives, with guest David Andolfatto, VP of Research at the St. Louis Federal Reserve is a thought leader on cryptocurrency and the new market places popping around it. Central bankers have often been hesitant to speak about crypto, but David has been crypto-educator since 2014. His community policy briefings usually are usually packed to standing-room only. In this episode we discuss how central banks are not only warming up to blockchain but are now exploring use cases of blockchain. We talk about how blockchain is just like the economy of favors we use every day with our coworkers, friends, and family (and how we are already using a distributed, gossip-based ledger). In addition, we touch on the new moral issues created in the world of smart-contracts and why some economists think bitcoin will die. Interview & show notes by: Dang Du Links: Andolfatto.blogspot.com Twitter.com/dandolfa Follow A Bit Cryptic Podcast: Twitter.com/keepitcryptic Medium.com/@abitcryptic Facebook.com/abitcryptic Instagram.com/keepitcryptic If you like what you heard, please leave us a 5-star review and share the podcast! Disclosure: the co-host of this podcast segment is a former employee of the Federal Reserve Bank of St. Louis.