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LETTER #2: Federal Reserve Chairman from Your Survival Guy

By

FOMC Chairman Powell answers a reporter’s question at the press conference.

Dear Chairman,

I know you’re busy. Forgive me for writing without hearing from you. But successful Americans, the ones I work with, still have questions.

But first, I do recognize you’re in a tough spot. An unelected official trying to please those busy bees buzzing about the White House while keeping decorum within your ranks. Yesterday’s unanimous vote speaks volumes to that (Good or bad? I lean toward bad, but you didn’t ask). Excuse my rudeness, but has half the group already landed for their European vacation?

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The pressure you’re feeling from the real estate brigade must be immense. They got so fat at the trough gulping away at zero percent rates. Would it kill them to work for a sale? But wow, what a mess on the commercial side. Your phone must be dinging. Thank goodness for airplane mode.

It’s beautiful in Newport, RI. Did I tell you I caught a keeper striper the other night? Anyway, the successful Americans I talk to want rates high enough to tame inflation. Forget digital dollars. Make the dollar as good as gold. It will solve your problems overnight. Literally.

Pardon my bluntness, but I’ve always found when it comes to money that you should go directly to the source. To pick up the phone and speak with the savers of the world. Reports don’t talk. I get to the truth fast because they tell me.

That’s all for now. Hope to hear from you before July’s meeting. Until next time.

Warm regards,

Your Survival Guy

 

P.S. In case you missed my first letter, here it is.

P.P.S. Keep going up with rates. Money isn’t supposed to be free.

 

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.
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