Episode 69

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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.

Enjoy!

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 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

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.