{"podcast":{"title":"The Bitcoin Layer","slug":"the-bitcoin-layer-7070444","podcast_index_feed_id":7070444,"rss_url":"https://feeds.simplecast.com/Y2219Riv","website_url":"https://mysoundwise.com/soundcasts/1665708396190s","image_url":"https://image.simplecastcdn.com/images/31efc846-0793-410a-9634-9cbb9ab441fd/a42dcdab-5758-48ca-b40a-791279675300/3000x3000/b_black_500x500.jpg?aid=rss_feed","author":"The Bitcoin Layer","episode_count":285,"summary":"The Bitcoin Layer is a premium markets research provider, covering bitcoin through a global macro lens | Research, Analysis, & Education Featuring Nik Bhatia, author of the #1 Amazon bestseller Layered Money and USC Marshall School of Business professor. Subscribe to our research publication and YouTube channel to learn about global macroeconomics, bitcoin, Lightning Network, the monetary and financial system, the Federal Reserve, interest rates, and geopolitics. Most importantly, develop a framework for understanding global markets—connect the dots between economic and financial concepts to see the bigger picture. Look no further for your bitcoin and macro education!","last_synced_at":"2026-07-31T20:19:22.621040+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444"},"episode":{"title":"Kevin Warsh Just Blew Up How the Fed Works","slug":"kevin-warsh-just-blew-up-how-the-fed-works","published_at":"2026-07-29T15:00:00+00:00","page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/kevin-warsh-just-blew-up-how-the-fed-works","show_page_url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444","url":"https://mysoundwise.com/soundcasts/1665708396190s","audio_url":"https://cdn.simplecast.com/media/audio/transcoded/8ed6a33d-2ac9-4ae6-bdbb-334a1cbb3f52/93f29295-b98b-46ce-9822-223c512497e8/episodes/audio/group/54e5a80e-a4f0-4d43-8191-b42daf4375ec/group-item/62f6a8e7-3aaf-48c1-91c4-ca36e7975366/128_default_tc.mp3?aid=rss_feed&feed=Y2219Riv","summary":"In this Global Macro Update, Nik covers today's FOMC decision and Kevin Warsh's press conference, where the new Fed chair reaffirmed the 2% inflation target as a firm goal and made clear he is steering the Fed away from forward guidance. Nik explains why Warsh took credit for the recent rise in Treasury yields, calling it healthy price discovery, and why Warsh now says the Fed will look to the Treasury market for signal rather than telling markets what it will do. He also covers the yield curve steepening on the day, the Nasdaq correction and Korea's stock market crash, and why he thinks Treasury yields have left their four-year anchor for good. The Bitcoin Layer and its guests do not provide investment advice.","meta_description":"In this Global Macro Update, Nik covers today's FOMC decision and Kevin Warsh's press conference, where the new Fed chair reaffirmed the 2% inflation targ…","key_points":[],"chapters":[],"topics":[],"duration_seconds":2005,"processing_state":"not_requested","actions":[{"name":"request_transcript","method":"POST","url":"https://stenobird.com/v1/public/podcasts/the-bitcoin-layer-7070444/episodes/kevin-warsh-just-blew-up-how-the-fed-works/transcription-requests","description":"Idempotently request low-priority transcript generation for this episode."},{"name":"read_markdown","method":"GET","url":"https://stenobird.com/podcast/the-bitcoin-layer-7070444/kevin-warsh-just-blew-up-how-the-fed-works.md","description":"Read the agent-friendly Markdown representation of this episode resource."}]}}