Episode 135

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Published on:

25th Apr 2023

Beige Book, Look at Earnings and Saied is the Villain

The US economy stalled in recent weeks, with hiring and inflation slowing and access to credit narrowing, the Federal Reserve said in its Beige Book survey of regional business contacts. "Overall economic activity was little changed in recent weeks," the Fed said in the report, published two weeks before each meeting of the policy-setting Federal Open Market Committee. "Several districts noted that banks tightened lending standards amid increased uncertainty and concerns about liquidity. Overall price levels rose moderately during this reporting period, though the rate of price increases appeared to be slowing."

In this episode of The Higher Standard, Chris and Saied examine this news and determine the effect it will have on the economy as a whole.


They discuss a recent survey from LendingTree Inc., indicating that US consumers are increasingly using installment loans to pay for everyday items like groceries, highlighting the financial pain wrought by the worst inflation outbreak in four decades.


Chris and Saied look at Meta’s latest round of job cuts, as employees with technical backgrounds like user experience, software engineering, graphics programming are being let go.


They also offer some thoughts on earnings season, demystifying some of the terminology and concepts that get tossed about so that you can better understand what earnings reports mean for you and the economy.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!



What You’ll Learn in this Show:

  • How credit is being impacted by the stalling US economy.
  • The Federal Reserve's Beige Book: What it is and why it matters.
  • The rise of 'buy now, pay later' services, and the negative impact they're having on consumers.
  • The continued rash of layoffs in the tech sector - and soon, the banking sector as well.
  • And so much more...


Resources:

"US Economy Stalls as Credit Narrows, Fed’s Beige Book Says" (Bloomberg)

"Americans Go Deeper Into Debt as They Use Buy Now, Pay Later Apps for Groceries" (Bloomberg)

"More US consumers are falling behind on payments" (Yahoo! Finance)

"Meta has started its latest round of layoffs, focusing on technical employees" (CNBC)

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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 hosts; Chris Naghibi and Saied Omar 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.

About your host

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Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.