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The Fed, Markets And Inflation With Michael Lebowitz

03/04/2021

On this episode of Bitcoin Journal’s “Fed Watch” podcast, the hosts spoke with Michael Lebowitz, a portfolio supervisor for RIA Advisors.

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On this episode of Bitcoin Journal’s “Fed Watch” podcast, Christian Keroles and Ansel Lindner spoke with Michael Lebowitz, a portfolio supervisor for RIA Advisors.

It is a change of tempo for “Fed Watch,” reaching out to forward-thinking monetary advisors to ask for his or her trade perception on the Federal Reserve, financial issues and bitcoin. Lebowitz has made a number of appearances on “Actual Imaginative and prescient” and quite a few different macro podcasts, and notably seems weekly on RIA’s YouTube channel with enterprise associate Lance Roberts. The latter supply is the place Lindner found his content material, and he was impressed with the extent of perception on financial questions.

The dialog began off with asking Lebowitz in regards to the normal scenario he sees on the market in investing, however with a particular slant towards the elephant within the room of bitcoin. Lebowitz has in-depth data of various asset lessons and portfolio building, which arose repeatedly within the 30-minute dialog.

Subsequent, Lindner turned to a few of Lebowitz’s latest articles on the Treasury Common Account (TGA) and the “pent up demand” narrative. The TGA basically is an under-discussed matter, so on this episode, the members tried to dive slightly additional into a few of the particulars. Briefly, the U.S. Treasury has till August to cut back the TGA steadiness by roughly $1 trillion. This might have two attention-grabbing results. First, that’s some huge cash that have to be spent into the economic system and will trigger costs to rise. Second, the Treasury might want to concern far much less new debt within the type of new U.S. treasuries (USTs). That would put stress on cash markets, particularly because the Fed is continuous to take USTs off of the market with quantitative easing. Lebowitz gave his perception on this distinctive confluence of forces.

Lebowitz’s second article of curiosity was on pent-up demand hitting the market this summer time as individuals count on many of the virus restrictions to start coming to an finish at the moment. He walked by a few of the nuanced points with reference to financial and monetary coverage prospects. We’re in uncharted waters right here, and Lebowitz did a great job of constructing the items match right into a narrative, however on the similar time preaching warning and diversification. He leans towards deflation, with a wholesome respect for inflation as he advises shoppers on their investments.

Lastly, this episode dove fairly deeply into broad future predictions. After all, this includes bitcoin as a headline matter. Can the Fed do something? Is U.S. greenback hegemony in jeopardy? Is your entire fiat monetary mannequin in jeopardy? These are the forms of questions mentioned. Lebowitz is just not a bitcoiner, however has finished a good bit of analysis into bitcoin, blockchains and tokens. He’s consultant of monetary professionals all over the place who’re being compelled to have a look down the bitcoin rabbit gap. He has not fallen in but, however he and lots of others are going that course.