The Mirage of the Money Printer: Why the Fed Is More PR Than Policy, Feat. Jeffrey P. Snider

<p><span style="font-weight: 400;">The conventional wisdom is that central banks are the most important economic actors in the world. Markets hang on their every word. </span></p> <p><span style="font-weight: 400;">Yet, what if that power has less to do with actual monetary policy and more to do with how the performance of that policy creates a self-fulfilling prophecy as market actors respond to media coverage?</span></p> <p><span style="font-weight: 400;">Jeff Snider is the head of global research at Alhambra Investments. In this conversation, he and NLW explore:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">How the Fed lost the ability to even determine what the money supply is.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">How the financialization in the 1980s exacerbated monetary confusion.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why the most important force in the global economy isn’t central banks but the eurodollar and shadow banking system.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">How the eurodollar and shadow banking sector creates a drag on real economic growth.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why the conventional wisdom and “central bank savior” narrative around 2008 was dead wrong.</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The problem with “survivor’s euphoria.”</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Why “money printer go brr” is actually a flood myth. </span></li> </ul>