Episode 78

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Published on:

7th Oct 2022

The Fed Wants You to Lose Your Job, AI Taking Jobs and Chris is a Visionary

On Sunday, the Federal Reserve announced that it would hold a previously unscheduled meeting where some of the matters to be discussed will include, according to the Fed's website, “review and determination by the Board of Governors of the advance and discount rates to be charged by the Federal Reserve Banks.” It's being called an 'emergency' meeting, bu in reality, closed-door Fed meetings like this happen all the time. There have been about 15 meetings over the last year.

In today's episode of The Higher Standard, Chris and Saied take a look at what this meeting may or may not be signalling, as well as some hard truths about Fed Chair Jerome Powell's attempts to fight inflation.

They discuss why, when Powell tells you he wants to reduce inflation, he’s actually telling you the central bank needs investors to lose money.

Chris and Saied discuss a story about Nala Robotics, an AI company that has launched a fast food robot that, it claims, can fry chicken wings, french fries and other foods, season them and do it all autonomously. It's called the WingMan. Is this the response to the increase of minimum wages?


They also discuss how the tightening of the economy is affecting businesses. Bankruptcies and hiring freezes are happening across the country, and larger businesses like Meta are saying that they need more efficiency out of employees.


Join Chris and Saied for this fascinating conversation.


Enjoy!



What You’ll Learn in this Show:

  • What the Fed's 'emergency' meeting really means for the market.
  • Why Jerome Powell needs investors to lose money, in the hopes that those losses will seep into the rest of the economy when capital investments and consumption decline, slowing growth, demand and ultimately inflation.
  • The possibility of AI and robotics replacing workers as a response to minimum wage increases.
  • The effects of the Fed's aggressive tightening of economic policy, and the effect it's having on businesses.
  • And so much more...



Resources:

https://www.federalreserve.gov/aboutthefed/boardmeetings/20221003closed.htm

https://www.bloomberg.com/news/articles/2022-09-29/jay-powell-needs-investors-to-lose-money-until-inflation-comes-down?utm_campaign=instagram-bio-link&utm_medium=social&utm_source=instagram&utm_content=businessweek

https://www.forbes.com/sites/johnkoetsier/2022/09/28/robot-fast-food-cook-costs-less-than-half-a-hum...

https://www.cnbc.com/amp/2022/09/27/chipotle-mexican-grill-will-test-robotic-tortilla-chip-maker-.ht...

https://www.cnbc.com/2022/09/30/elon-musk-shows-off-humanoid-robot-prototype-at-tesla-ai-day.html

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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.