Should Weinberg lead the fed 😊? As suspected the Federal Reserve continued to hold on rates even though inflation continues well above their target. What fundamental flaw is the federal reserve making?
I recently did an interview with Mortgage Professional America on how the fed has missed the mark. I thought it would be appropriate since in every article on the Fed, the chairman Warsh is featured, so above is my picture if I ever get nominated to run the fed… I definitely want a cool pic as my headshot and I’m pretty certain I could do a better Job!
What is the fatal federal reserve misstep that has led us into our crisis
Congress amended the Federal Reserve Act in 1977 to direct the Fed to promote maximum employment, stable prices, and moderate long-term interest rates. However, critics have been skeptical of jobs data, and that’s just one of the reasons Weinberg argues the Fed should act on inflation alone.
Glen Weinberg (pictured top), COO and partner at Fairview Commercial Lending, said:
“All they need to do is focus on their one thing, inflation, because as soon as they start focusing on employment, they aren’t taking the right steps for inflation,”
“It’s just like this whole idea during COVID, ‘Oh my God, inflation’s transitory,’” he said. “It’s like, well, the train just hit you, buddy, because we’ve been saying it’s transitory for like 5 years. It’s like, come on.”
He also objects to the way the Fed talks about measuring inflation. Changing the yardstick, he said, only delays the problem.
Read the full article: Fed should ignore ‘garbage’ jobs data, focus on inflation, exec says | Mortgage Professional
More in-depth post on interest rates after the election results
I’ve already started working on an upcoming blog post after we get the election results and can see how the bond market reacts and we will have a better read on rates, so please stay tuned for more information and in-depth discussions.
Additional Reading/Resources:
Fed should ignore ‘garbage’ jobs data, focus on inflation, exec says | Mortgage Professional
Don’t plan your year around a post-election turnaround, lender says | Mortgage Professional
What the latest inflation upsurge means for the mortgage market | Mortgage Professional
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Glen Weinberg personally writes these weekly real estate blogs based on his real estate experience as a lender and property owner. I’m not an armchair reporter/writer. We are an actual private lender, lending our own money. We service our own loans and own commercial and residential real estate throughout the country.
My day job is and continues to be private real estate lending/ hard money lending which enables me to have a unique perspective on the market. I don’t accept any paid sponsorships or ads on my blog to ensure accurate information. I’ve been writing this for almost 20 years and have over 30k subscribers. Please like and share my blogs on linkedin, twitter, facebook, and other social media and forward to your friends 😊. I would greatly appreciate it.
Fairview is a hard money lender specializing in private money loans / non-bank real estate loans in Georgia, Colorado, and Florida. We are recognized in the industry as the leader in hard money lending/ Private Lending with no upfront fees or any other games. We fund our own loans and provide honest answers quickly. Learn more about Hard Money Lending through our free Hard Money Guide. To get started on a loan all we need is our simple one page application (no upfront fees or other games). Learn how to find a reputable hard money lender and why Fairview is the best hard money lender for investors.
Written by Glen Weinberg, COO/ VP Fairview Commercial Lending. Glen has been published as an expert in hard money lending, real estate valuation, financing, and various other real estate topics in Bloomberg, Businessweek ,the Colorado Real Estate Journal, National Association of Realtors Magazine, The Real Deal real estate news, the CO Biz Magazine, The Denver Post, The Scotsman mortgage broker guide, Mortgage Professional America and various other national publications.
