Episode 69

Published on:

6th Sep 2022

J. Powell Dropping Bombs, Housing Changes and Saied's Sultry Voice

Jerome Powell has recently held a press conference following the Fed's annual Jackson Hole meeting, and his comments were interesting, not to mention immediately impactful, as they eviscerated approximately $70 billion in value from the market the following day.

In today's episode of The Higher Standard, Chris and Saied share their thoughts on Powell's remarks and the effects they may have in the days to come.

They discuss why Powell believes that, as the Fed tightens and fights to bring down inflation, higher interest rates likely will persist "for some time," and why the historical record cautions strongly against prematurely loosening policy.

Chris explains why people did not know they were in a recession in 2008, until NBER, the National Bureau of Economic Research, declared a recession almost a year later. We can look back and identify the factors that led to the Great Recession, but we're not in a position to identify those factors at the moment.

They also discuss the interesting correlations between the current housing market (with a 10.9 month supply of new houses - a healthy market sits around 4-6 months) and the time during the Great Recession, when the monthly supply of new houses was sitting around 12.

This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation.


What You’ll Learn in this Show:

  • Powell's belief that higher interest rates likely will persist "for some time."
  • Why it's easy to look back and identify the factors that led to the Great Recession in 2008, but not so easy to identify them in today's market.
  • Interesting - and possibly worrying - correlations between the current monthly supply of new homes and that which existed during the Great Recession.
  • And so much more...
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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

About your host

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Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.