You wouldn't know it from visiting any of the legacy media sites (NBC, ABC, CNN, Fox News, etc.), but there are actually significant things happening on this continent.

Believe it or not, Jay Powell's testimony to Congress, insofar as the Fed follows through on what he said will happen this month, is every bit as important as what is going on in Ukraine.

For Americans, the only significance (outside of understandable human empathy for Ukrainian citizens) is the U.S./NATO reaction to Russia's military intervention. And like it's Covid response, the U.S. government's response to the Russian invasion will just make everything worse. Let's hope it doesn't provoke a nuclear war.

Let's also not forget the U.S. State Department started this fight and Putin is really fighting Washington, not Ukraine. That makes what's happening to Ukrainian innocents all the more tragic.

Amidst all this, Jay Powell says he's still going to proceed with the .25% rate hike this month. He has little choice about doing something. But will it really have any effect on price inflation at all? Is the economy really as strong as he says it is? What do we make of jobs numbers? I talk about it all in today's episode of Tom Mullen Talks Freedom.

Whether this is just the progressive liberal empire flailing around or whether Jay Powell is indeed at war with the Davos crowd, purposefully acting to crash the euro and return supremacy to the Fed is anyone's guess. Past guest Tom Luongo of Gold, Goats, and Guns believes so. I first interviewed him on this in January and he returned for a follow up in February. 

Those are both worthwhile episodes if you haven't heard them already. To be honest, I'm not sure if Tom is correct and the Fed is playing "4-D chess" or just reacting incompetently as it usually does. Either way, it's what the Fed does from here that determines our economic future, much more than anything any elected official does on the policy front.

This is the thrust of my book, It’s the Fed, Stupid. If you haven't already, download a free copy​​​​​​ here.

It’s also available in paperback here. It’s priced at a pre-hyperinflation level so grab a few copies for friends if you can.

It makes a great introduction to the government’s most economically damaging institution for liberals, conservatives, libertarians, socialists, and independents alike.

It also helps me keep the lights on here so I can continue to bring you great content.