Video Description

In this episode, Lyn Alden joins the show to explain how tariffs “slow the train but don’t stop it,” why the Fed’s rate hikes are disconnected from the true inflation source, and how Fed balance sheet expansion is returning. We also discuss the labor cracks, the hidden redistribution of interest income to wealthy savers, and the next phase of the debasement trade. Enjoy! __ Follow Lyn: https://x.com/LynAldenContact Follow Felix: https://x.com/fejau_inc Follow Forward Guidance: https://twitter.com/ForwardGuidance Follow Blockworks: https://twitter.com/Blockworks_ Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance __ Grayscale offers more than 30 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. https://www.grayscale.com/?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance — Timestamps: 00:00 Introduction 01:35 Tariffs & the Fiscal Outlook 09:13 The Flow of Interest Payments 12:49 Grayscale Ad 13:27 Government Shutdown Impact 15:36 Fiscally-Dominant Economies 19:51 Measuring Economic Weakness 22:49 The State of the Labor Market 26:09 Grayscale Ad 26:56 Should the Fed Cut? 30:56 How We Fight Inflation 34:18 The Fed Balance Sheet 41:20 Past vs Present Funding Constraints 45:06 Fed Balance Sheet & Liquidity 48:43 Active Treasury Issuance 51:20 The Fed & Bank Liquidity 53:03 The Debasement Trade 57:54 Final Thoughts __ Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed. #Macro #Investing #Markets #ForwardGuidance