Episode 178

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Published on:

22nd Sep 2023

Fed Meeting, $100 Billion Loss & Saied is RFK, Jr.

Please place all seat back and tray tables in their locked and upright positions, because you're about to go on a long voyage of economic data baby! Saied, Chris and Haroon are back and they have a lot to talk about in this episode. The September 20th Fed announcement hasn't even happened yet and Goldman Sachs is already saying that the Fed is unlikely to raise rates in November. So, naturally The Higher Standard had to chime in to the debate. Chris offers up a questionable segue into why a soft landing could not only be elusive, but then explains why the current Fed Policy is costing the Fed between $100 billion and $200 billion themselves. Chris and Saied then dive down deep in to the dark canyon of a hole that is the inverted yield curve where they discuss the wide spread between the 2-year and 10-year treasuries. Which also happens to be at it deepest inversion since 1981. Haroon provide an elegant hypothetical answer to an intimate personal question and legendary investor Jeremy Grantham is ringing alarm bells.

Resources:

Fed unlikely to raise rates in November, says Goldman Sachs (Reuters)

Why a Soft Landing Could Prove Elusive (Wall Street Journal)

Fed losses breach $100 billion as interest costs rise (Reuters)

Economist says S&P 500 will sink 40% due to recession (Business News)

Spread between 2- and 10-year Treasuries at deepest inversion since '81 (Reuters)

Legendary investor Jeremy Grantham rang the alarm on stocks and recession, warned about the housing market, and hailed Elon Musk's Tesla. Here are his 10 best quotes from a recent event (Business Insider)

The bond market has broken the longest time ever with a 10-year field, 3 month inversion at 212 days per Bloomberg (Unusual Whales via Instagram) 

Disclaimer: Please note that the content shared on this show is solely for entertainment purposes and should not be considered legal or investment advice or attributed to any company. The views and opinions expressed are personal and not reflective of any entity. We do not guarantee the accuracy or completeness of the information provided, and listeners are urged to seek professional advice before making any legal or financial decisions. By listening to The Higher Standard podcast you agree to these terms, and the show, its hosts and employees are not liable for any consequences arising from your use of the content.

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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.