A Brave New World: Biden Reappoints Powell Amid a Coordinated Strategic Oil Reserves Release

Published on
November 22nd, 2021
Duration
36 minutes

Raoul’s Big Picture: Bitcoin’s Taproot Facelift & the Economy


A Brave New World: Biden Reappoints Powell Amid a Coordinated Strategic Oil Reserves Release

Daily Briefing ·
Featuring Gary Brode and Maggie Lake

Published on: November 22nd, 2021 • Duration: 36 minutes

President Biden nominates Fed Chairman Jerome Powell for a second term. The question on everyone’s mind is, what does it mean for the economy? Could Biden’s pick signal that the administration is opting for policy continuity? Powell faces a completely different economy from when he was sworn in, and he will have to pivot from previous policies as inflation is at 6.2%, its highest in 31 years. The U.S is also hurting from supply and labor imbalances. In the economy, oil prices rose on news that OPEC+ could lower oil production if large consuming countries release crude from their reserves. President Biden is expected to release oil from the nation’s Strategic Petroleum Reserve. Gary Brode, founder of Deep Knowledge Investing, sits down with Maggie Lake to discuss how the economy will fare once more under Powell, and what higher oil prices mean for investors and consumers. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3oSPjk9

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