Sagar Enjeti

Hey guys, Sagar and Crystal here.

This is the only place where you can find honest perspectives from the left and the right that simply does not exist anywhere else.

We need your help to build the future of independent news media, and we hope to see you at breakingpoints.com.

Thanks for having me.

Well, look, we should not have any one person have full and complete control of the money supply to determine who they can reward friends and punish enemies with.

But I do think you hear a lot about Fed independence, and there's going to be all sorts of people in Washington and Wall Street clutching their pearls that Kevin Warsh is being sworn in at the White House.

rather than somewhere else that seemed more cordoned off from politics.

But I think there's lots of people who wonder, who has the Fed been independent from?

And many question, was the Fed ever really independent from Wall Street and other owners of big financial assets?

And just like everyone understands the Supreme Court is a group of nine people that is hyper-political, there's real talk about whether the seven people on the Fed

are really just like them.

And I think that does help explain a lot of why the president is drooling to take control and be able to call the shots here.

Well, this past week, you have seen a real global sell-off in the bond market, including of U.S.

treasuries.

That is going to make it much more expensive for farms and businesses and, frankly, people who are just dying to figure out how to make the math work to buy a home.

Interest rates are going up by normal market forces because they are seeing the price of oil and they are seeing real problems in the global economy.

So I don't know if the Fed is really going to be able to fix this.

Here's what I do know, though.

Wall Street is pricing in that somehow they will pull a rabbit out of a hat.

because the stock market keeps going up and up and up.