Episode
The Fed Has Lost Control: Supply-Side Economics Are The Captain Now
- Podcast
- The Pomp Letter
- Published
- Jan 26, 2026
- Duration seconds
- 256
- Processing state
not_requested- Canonical source
- https://pomp.substack.com/p/the-fed-has-lost-control-supply-side
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Summary
Today’s Episode is brought to you by Figure ! Figure’s building the future of capital markets through blockchain with $20B unlocked in equity. Use Democratized Prime for your chance to win big with $25k USDC and Earn ~9% APY. The more you participate, the better your odds! Figure is the only account you need in the DeFi ecosystem. For every dollar you commit, you get another chance to win $25K USDC. Start now and enter to win while earning money on your crypto with Democratized Prime 1 . To investors, If you listened to the Fed for the last few decades, you made a lot of money. When the Fed was easing, you could have just plowed your money into the market. When the Fed started tightening, all you had to do was sell everything and hide in cash for a few years. Investors have been yelling “don’t fight the Fed” for a long time. But I don’t think that old adage applies the same way anymore. At least it doesn’t apply right now. Let me explain… The US economy, and corresponding financial markets, have been hyper sensitive to the Fed’s monetary policy decisions for the last ~ 30 years. The central bank was cutting rates in the mid-to-late 1990s, which helped propel the internet boom higher. Finally, when the Fed started to raise rates in the second half of 1999, the tech bubble popped shortly afterwards and everything came back down to reality. During the Global Financial Crisis, the Fed invented the insane Quantitative Easing policy that led to a prolonged period of 0% interest rates and hundreds of billions of dollars bring printed. This QE playbook kicked off a decade-long bull market that made every stock market bear look like a fool. Finally, during the 2020 pandemic, the Federal Reserve pulled out the old QE playbook again. Interest rates went to 0% via two emergency cu…