NEW YORK—In the wake of a cost-cutting decision to terminate roughly 10% of its workforce, National Public Radio announced Friday that it had launched a new podcast exploring the lives of employees they just laid off. “Although the decision to eliminate roughly 100 employees was not taken lightly, we are so excited to announce our next groundbreaking podcast series, which follows several NPR correspondents, researchers, and audio engineers on their gripping and often heartbreaking journey through unemployment,” said CEO John F. Lansing, adding that the 10-part, hour long series called Down And Out will feature many listeners’ favorite correspondents from podcasts like Invisibilia, Louder Than A Riot, and Rough Translation struggling to pay rent, go to the doctor, or put food on the table. “While NPR did provide employees with severance, that will eventually run out, and that’s where the podcast truly begins. Will our former employees ever be able to get another job? Will they have to move home with their parents? Might they even leave the media industry entirely? Tune in for our first episode—featuring a surprise guest who lost his job after 40 years of working at NPR—to find out!” At press time, Lansing announced that the entire Down And Out production team had been let go.
The swift collapse of Silicon Valley Bank has shaken the banking industry during the past two weeks. SVB engaged in risky lending practices and did not have the necessary safeguards in place, leading to a run on deposits that eventually sent the bank into receivership, Mike Sekits, co-founder and managing director of community bank partnership […]
Can you tell me a little bit about how you found your way into celebrity styling?
I actually was meeting a friend of mine—late friend of mine—AJ Crimson. He’s a makeup artist. He was like, “So what are you doing? What are you going to be doing next?”
I was like, “Oh, I’m gonna go to a real estate school, and I’m going to study to become a real estate agent, and I’m gonna sell properties.” He was like, “Really? That’s nice, but do you find a thrill in that?”
I’m like, “No, but I figured it’s gonna pay the bills, pay my rent.” He’s like, “Well, what are you passionate about?” Then I’m like, “Um, I don’t know.” I honestly couldn’t give him an answer.
He’s like, “Well, you seem to love fashion. You seem to always dress up and you’re always reading the fashion magazines. Every time I see you, you’re talking about clothing.”
I’m like, “Yeah, I guess I’m passionate about it. I love it.” He’s like, “Well, why don’t you become a stylist?”
He [Crimson] connected me with his friend, Lor-e Phillips, who was working for the Black Eyed Peas at the time in about 2007. I just started interning under her, and that’s kind of where it all began.
Adoption of embedded banking by both businesses and customers is on the rise, and it is helping to reduce the risk of payment fraud along the way. For consumers, tokenizing user credentials for their protection is a benefit; meanwhile, businesses gain security by using integrated systems to accept payments safely, Bennie Pennington, vice president of […]
Automation has grown at an exponential rate since the start of the COVID-19 pandemic, but the decline of personal interface may leave some bank clients wanting more. Embedded finance can assist by building trust between banks and their customers, Antonio Soares, co-founder and chief executive at Brazilian payments platform Dock whose clients include Brazilian banks Banco […]
You have many great projects out at the moment, but we would be remiss if we didn’t talk about Euphoria. Can you tell us what working on this last season was like?
It’s so fun being on that set because it feels like a family. Zendaya is my big sister; you can’t convince me otherwise. So to work with people who inspire you and push you is just a fantastic feeling. And Euphoria is just such a beautiful show because we are trying to bridge the disconnect between generations and trying to let the world know that … there are things that young people go through every day. And even though it’s entertainment and some situations are heightened, at its core, we’re trying to educate people. Even when I’m reading a script or watching scenes I’m not a part of, I’ll tell myself, “That is just crazy. That just would not happen, like please.” But then I have to sit and check myself because many of the situations that are depicted in the show, our director, Sam Levinson, went through. So that’s when you have to sit, reflect, and not be selfish because people do go through these things every day, and I think that’s why so many people tune into the show each week. It’s why it became a cultural phenomenon. It is so relatable.
One of the wonderful things about the show is that it does validate the experiences of younger people, and it puts a lot of the younger generation’s viewpoints about the world on display. How do you hope your acting helps combat misconceptions about younger generations?
I think there are a lot of misconceptions about Gen Z. And I can’t speak for my entire generation, but I do know that we are smart, we are brilliant, and we are trying to make a change. And yes, we do use our phones a little bit more than other generations, but that’s the world we live in. You shouldn’t discredit our ability to think about things, cultivate ideas, and cultivate joy because of it. This generation is the most culturally diverse and culturally accepting than any other generation. I can say that with confidence. So with any situation, with any circumstance—whether it’s me playing Gia Bennett or just me taking up space as a young Black woman in this world or just being a peer among other people in this generation—I think it’s about just giving us grace because, yes, we may do things differently. But I think those differences are what makes our generation so beautiful.
The phone rings and you answer. On the other end of the call is a woman who says they’ve heard all about the great work you do and want to hire you for an incredible project in Indonesia that is happening right now. They tell you to get to the airport ASAP and get yourself on the next plane. Keep all of your receipts — you’ll be reimbursed as soon as you land, you’re told. This job not only pays well, but it will also surely elevate your profile and lead to bigger and better projects.
So what do you do?
If you are one of the hundreds of people who got this call, you get on that plane. And after weeks — sometimes months — of getting the runaround once you’re situated in Indonesia, you learn that you’ve been scammed.
On this week’s episode of Dirty Money, Entrepreneur Media’s new podcast dedicated to telling the behind-the-schemes stories of legendary scammers, con artists, and barely-legal lowlifes, hosts Jon Small and Dan Bova speak with journalist and co-founder of Campside Media Josh Dean about the strange twist and turns of the Hollywood Con Queen. We won’t give away too much, but this Queen posed as various higher-ups at companies like Lucasfilm and Sony, and preyed on worker-bee types in the film industry (make-up artists, stunt man, and the like) who were duped into spending money out of their own pockets that they never got back.
The more details, the sleazier and weirder this story gets. Listen to the podcast here or subscribe wherever you listen to podcasts.
Danielle Sherman has worn many hats throughout her career. For one, got her start in the fashion world at a young age. From taking classes at Jo-Ann Stores to sewing with Vogue patterns, Sherman has always loved working with her hands.
While learning to sew, she was also making jewelry and had a knack for sourcing rosary beads from flea markets and remaking them into necklaces. At the age of 16, Sherman launched her own line of leather accessories, which was funded by a small acting role she landed in The Parent Trap. (Yes, *the* Parent Trap, starring Lindsay Lohan.)
Eventually, Sherman moved to New York City and enrolled at New York University. Upon graduation, Sherman worked for Tahari ASL and went on to co-found The Row with Mary-Kate and Ashley Olsen. After stints at Alexander Wang and EDUN, Sherman struck out on her own. During her time consulting was when Sherman was able to get in the headspace to get creative and figure out what she wanted to do next.
That next thing? Relaunching her grandparent’s high-end women’s tailored clothing, Sherman Field, as a fine jewelry label in 2019.
In the latest episode of Who What Wear With Hillary Kerr, Sherman shares how she went from co-founding The Row to launching her fine jewelry line, the investment pieces worth buying, and so much more.
For excerpts from their conversation, scroll below.
Lead singer Drew Taggart acknowledged on Wednesday’s “Call Her Daddy” podcast that the stars have invited strangers to bed. It was “seldom” and “not proposed a lot,” he added.
The first such encounter, said the group DJ Alex Pall, was “never planned” and it was “weird.”
“I think we were like, ’What the fuck just happened?” Pall told host Alex Cooper.
Taggart explained how circumstances encouraged threesomes.
“It was also the days when we used to have to share hotel rooms,” Taggart said. “In Europe, they have two beds — they don’t even split them apart. So it’s almost by force that we were forced into these scenarios.”
Pall said “it’s been a long time” since he and his bandmate have had a threesome together. Taggart said he and Pall never “hooked up with a diehard fan” — or at least “no one wearing merch or anything.”
Pall split with influencer Tori Woodward in 2018 after four years. He told Cooper she once spied on him with a camera-fitted pet-food dispenser she bought him.
“It was, like, ’Oh my God, I’ve been getting spied on for seven months by this fucking pet camera,’” he said. “I got up close to it, and she had blacked out the recording light with a marker and then covered it with an additional piece of electric tape perfectly cut out.”
Pall said he was “losing his mind” during the “unhealthy” relationship. He said he’s an optimist and it was hard for him “to pull this rug out” when the time came for a breakup.
Can you tell me a little bit about how you started out and eventually found your way into both parts of your fashion career?
I grew up in L.A., and I always knew I wanted to be a fashion designer. When I was a kid, I didn’t know what being a stylist was. We had a family friend who was a costumer, and she was my childhood hero. Because that was the closest thing I knew to what I wanted to be.
I always wanted to be a fashion designer, and my goal was to go to FIT in New York City right after high school, but September 11 happened, but that derailed my moving to New York City.
I did a semester at SMC [Santa Monica City College], and then I went to FIDM. I went for fashion design. I had a teacher—I even remember her name; it was Mrs. Owens—and she was a designer. She actually had just gotten a job as head designer of Apple Bottom jeans.
She was portfolio teacher, and I remember she told me that I would be a good stylist. She had previously worked at MTV as a stylist, and she introduced me to what that was because I didn’t really know what it was. I interned for her at Apple Bottom after I graduated. Then I interned at a few different denim companies. I eventually got a job with a small L.A. brand as women’s designer, and I was there for four years.
There, I met stylists, and I started assisting. I did freelance design after I left, but I focused more on styling.
The podcast addresses livability metrics and recent findings surrounding the health and wellness challenges Black women face in Northeast Ohio, along with sharing firsthand accounts of Black women’s experiences in Cleveland’s workplaces, schools, and educational systems.
Press Release –
Jan 11, 2023
CLEVELAND, January 11, 2023 (Newswire.com)
– Ohio’s largest independent, publicly supported media organization, Ideastream Public Media (Ideastream), and Evergreen Podcasts (Evergreen), one of the fastest-growing podcast networks in the United States, are teaming up to produce a new journalistic podcast series, Living for We. The podcast addresses livability metrics and recent findings surrounding the health and wellness challenges Black women face in Northeast Ohio, along with sharing firsthand accounts of Black women’s experiences in Cleveland’s workplaces, schools, and educational systems.
Living for We is a part of Connecting the Dots between Race and Health, an ongoing Ideastream Public Media initiative that looks at how racism contributes to poor health outcomes in Northeast Ohio, along with uncovering what actions local institutions are taking to tear down the structural barriers to good health.
The initial data that inspired Living For We was released back in 2020when cityLAB of Pittsburgh released a study that ranked Cleveland dead last in terms of livability for Black women. In response, Cleveland’s Bethany Studenic and Chinenye Nkemere of Enlightened Solutions published Project Noir, a survey featuring over 450 Black women from the Cleveland area who share accounts of frustration, isolation, marginalization, and discrimination, within the workplace, healthcare facilities, and the education sector. With ChiChi and Bethany of Enlightened Solutions on their team, Ideastream has worked with Evergreen Podcasts to explore these findings through their new audio series, Living for We.
“I’m so proud that we are sharing the unfiltered voices and perspectives of Black women in Cleveland from their lived experiences. We have some well-known guests, including Samaria Rice – the mother of Tamir Rice, and Ayesha Bell Hardaway – Case Western Reserve professor and interim monitor overseeing Cleveland police reform,” says Host Marlene Harris-Taylor. “There are also many other women from all walks of life who share their unique experiences about the education, health, and business sectors in Cleveland and what Black women must do to navigate these spaces.”
The limited-run journalistic podcast series will be released weekly over three months, beginning March 1st, 2023. Season One of the Connecting the Dots between Race and Health Podcast: Living for We, is made possible by generous support from the Dr. Donald J. Goodman and Ruth Weber Goodman Philanthropic Fund of the Cleveland Foundation. One can subscribe to the podcast on Apple Podcasts, Spotify, Google Podcasts, and many other podcast platforms.
“Evergreen is thrilled to be a production partner for the Living for We podcast,” noted Michael C. DeAoia, Chief Executive Officer of Evergreen Podcasts, “When we launched the company six years ago this month – this was the type of investigative, journalistic content we were dreaming of creating. Ideastream has been a wonderful and provocative partner on this podcast. It is required listening.”
Ideastream Public Media serves the people of Northeast Ohio as a trustworthy and dynamic multimedia source for illuminating the world around us. Ideastream Public Media is the home of five public television stations (WVIZ, WVIZ OHIO, WVIZ WORLD, WVIZ CREATE, and WVIZ KIDS); WKSU, Northeast Ohio’s NPR news and public affairs radio station; and WCLV, Northeast Ohio’s classical music radio station. Ideastream Public Media programs and services are used by 3.6 million people in a typical month, across a 22-county service area. Ideastream Public Media produces the award-winning children’s series “NewsDepth” and manages The Ohio Channel and the Ohio Public Radio and Television Statehouse News Bureau on behalf of all Ohio’s public broadcasting stations. Ideastream Public Media is indispensable and highly valued for its unique ability to strengthen our community.
For more information about Ideastream Public Media’s rich legacy of innovation and credible content, visit ideastream.org.
About Evergreen Podcasts
Evergreen Podcasts’ mission is to become the largest independent podcasting company worldwide, committed to a premier collection of shows from an international cast of storytellers. Offering global distribution and platforms for dynamic podcast growth, Evergreen produces content that celebrates modern thinkers, influencers, and personalities. Top thought leaders and breakout brands choose Evergreen to create inspiring stories through branded content, original shows, and partner podcasts. Our team specializes in comprehensive podcast production, creative marketing, and distribution solutions, connecting brands to a broader audience. The Company, which launched with four original podcasts in 2017, now manages over 200 shows across six unique podcast networks.
Synthetic identity fraud remains a constant challenge for banks, with a growing number of fraudsters attacking demand deposit accounts since the onset of the COVID-19 pandemic. In fact, one in three accounts within fintech and retail banking are synthetic, Mike Cook, vice president of commercialization – fraud solutions at identify verification fintech Socure, tells Bank […]
Banks are considering where to invest in 2023 to meet client needs, ranging from digital offerings to customer experience. Understanding the priorities of a vast client base can help large banks like $1.8 trillion Wells Fargo decide which products or services are needed, as well as strategy for the year ahead, Reetika Grewal, executive vice […]
Open banking, augmenting the customer experience (CX), and AI were key themes across Bank Automation News’ most popular “The Buzz” podcast episodes in 2022. Listen as the BAN editorial team talks through the issues that will continue to impact the financial services industry in the year ahead. The three most played podcasts of the year: […]
Since the smash-hit comedy series Emily in Paris first hit our Netflix queues in late 2020, all eyes have been on Lily Collins.
From its inception, Collins and the series’s influencer heroine, Emily Cooper, have captured our attention with their bubbly demeanor and vibrant parade of outfits that make the show a feast for the eyes, and this December, the Emmy-winning series returns to our screens for its much-anticipated third season.
Although this role is what propelled the actress to new heights of notoriety, Collins is also drawn to roles outside comedy and earlier this year starred in the dark drama Windfall. “I’ve always wanted to bop in and out of different genres never to be put in a box,” she explained.
While acting will always be part of Collins’s career, she’s experimenting with work behind the camera, too, and has been busy forging a name for herself in producing with credits on Windfall and Emily in Paris.
We caught up with Collins to discuss what Emily Cooper will be up to in the show’s third season, her foray into producing, and of course all things Parisian fashion. Below, read some excerpts from our interview, and tune in to the Who What Wear podcast to hear it in full.
Opinions expressed by Entrepreneur contributors are their own.
By 2023, it is predicted that there will be 465 million active podcast listeners across the globe. That is a lot of attention for business owners of all shapes and entrepreneurs to tap into. With more and more people busy and on the go, it’s no surprise that people are opting for audio-only listening — whether in the car, on a walk, on a plane or while cooking dinner. Podcasts are here to stay, and they’re only just getting started.
When it comes to business, one of the most critical factors in your growth is the number of people you know, like and trust. Podcasts will help you tick all three of those boxes. If you’re not leveraging them as a part of your marketing, let today be the day that changes.
You will get more reach and exposure as a direct result of the podcasts, and you can leverage the video content from the episode across your social media channels. One recorded podcast episode can produce a month worth of short-form video content for you. Boost Media Agency specializes in PR and podcast bookings, and here I share the exact strategy that we use to book our clients on podcasts and how you can do the same to get yourself on at least one podcast per week.
When it comes to getting booked on podcasts, the best place to start is getting clear on the types of shows where you feel you can first reach the right people and, secondly, add the most value. Ensuring each podcast is aligned with your work will simplify the process. It goes without saying, but if you’re in the hair and beauty space, a finance podcast isn’t going to interview you.
If you’ve never done podcasts before, start small. Trying to get onto Joe Rogan or Tony Robbins podcast if you’re just starting might dampen your spirits. Try to find podcasts that have between 500-5000 listeners per episode, as these will be your best shot, and build a list of at least 20 podcasts.
It goes without saying, but podcast hosts get pitched — a lot. If you want to skyrocket the chances of a host booking you, the best place to start is to connect with them on social media. Doing so starts the relationship by giving, which is far more likely to end with the host reciprocating.
So, take the time to listen to an episode, drop them a friend request or follow, and send them a message telling them that you love their show and that a particular message resonated with you.
3. Create your pitch
Crafting a pitch can seem like a daunting task. The best place to start is your talking points. What are 2-3 things that, from your experience, you know better than anyone else? Try to get a little more creative than”Scaling to 6-figures,” — as you’ll sound like everyone else. Lean into your uniqueness and story here, as that will sell the host on having you on their show. Remember to keep your pitch short. Here is a basic framework: Compliment, Story, Value and Call To Action.
Compliment: Who doesn’t love a compliment? Start with this to ensure the host knows it’s personalized and not a mass pitch. E.g., “Loved your episode with John Smith. The message about growing from within really resonated with me.“
Story: Your story is what will sell them. Share the unique parts of you and your story in 1-3 sentences.
Value: Podcast hosts want to hear the value you have to provide. Share your 2-3 unique talking points with them in bullet format.
Call to action (CTA): You’ll never know if you don’t ask. Ask them if they’d like to have you as a guest. For example: “I’d love to share these insights with your audience. If you think this would be valuable for them, would you be open to scheduling a time?”
So you’ve got your list, your pitch, so here comes the exciting part. Pressing send! Whether pitching the media, or a podcast, in this case, sending emails can be time-consuming, particularly the follow-up. That being said, there are some great email tools that you can leverage, such as Lemlist or Omni.us, where you can create custom email campaigns with automated follow-up sequences.
We all know that not every email gets replied to, and often the host won’t reply until the second or third email — and trust me, persistence pays off. Make sure to keep the follow-ups around 3-4 days apart, as no one likes to be bombarded daily. We all get enough emails as it is.
There’s no doubt that podcasts are a great way to build authority, reach new audiences, and ultimately, grow your brand and bottom line. This 4-step process is all you need to book yourself onto great podcasts regularly.
CLEVELAND, December 1, 2022 (Newswire.com)
– Patrice Catan, the creative entrepreneur behind one of the largest bridal boutiques in the country, Catan’s Fashions, is launching a podcast in partnership with Evergreen Podcasts.
The Tales from Behind the Veil series will hone in on Patrice’s approach to customer service while educating retailers on delivering dream-come-true experiences, through practical business advice and heart-warming stories. She is joined by veteran Evergreen producer Leah Haslage, who has produced for top shows like Pit Pass Moto, Banking Transformed, and Simple, Interrupted – A PetDesk Podcast.Haslage also hosts her own show, Weddings Unveiled, on the growing Evergreen podcast network.
“I’m thrilled to be hosting this podcast with Evergreen, engaging an audience of listeners with the good, the bad, and the funny,” Patrice says. “Tales from Behind the Veil will ‘unveil’ what I’ve learned from the ground up by being on the floor.”
Her podcast debut follows more than 40 years as a creative designer in the bridal industry, an experience that she credits to her father, founder of Pat Catan’s Craft Centers. One of the largest craft retailer stores in the world, Catan’s was later acquired by the Texas-based Michaels Co. in 2016. In 1980, Patrice opened Catan’s Bridal, once the country’s largest bridal store with 54,000 square feet of dressing rooms, gowns, and 27 seamstresses.
“It’s a joy to welcome Patrice, a legend in the bridal and craft industry, to our family of shows made to delight and inspire creators,” says David Allen Moss, Evergreen’s Chief Creative Officer. “She’s served thousands of brides over the decades, earned countless awards within the marketplace, and has been a featured speaker at events across the country. What could be more inspiring?”
Patrice joins Evergreen as the company remains on track to becoming the largest independent podcast network in the world. Producing only four shows in 2017, the company now publishes 192 shows across 12 genres. Through original production, branded podcasts, and podcast advertising, Evergreen specializes in content distribution to a broad audience.
Recently, Patrice was commissioned by Cleveland’s Western Reserve Historical Society to replicate and assemble bridal headpieces. The National Bridal Association awarded her Retailer of the Year (The DEBI Awards).
Evergreen Podcasts is an award-winning production house that brings entertaining, thought-provoking content to people wherever they are. Evergreen produces podcasts that capture modern thinkers, influencers, and personalities. Top thought leaders and breakout brands choose Evergreen to capture inspiring stories through branded content, original shows, and partner podcasts.
Did you think it was going to be the sensation that it has been?
We launched The Nap Dress in 2019, and the business started in 2016. The first couple of years of the business were really focused on very low and slow growth. Really being profitable, being responsible, finding out what our unique product market fit was. That involved a lot of testing of new products.
With The Nap Dress, in particular, we launched it I think it was June 2019. I was totally not expecting this. Totally beyond not expecting this, and I am the biggest planner. I love an Excel spreadsheet. I’ve got my Google Calendar all filled up. I need to know what I’m doing in like 10 minute increments, but at the same time, I always joke that we like to leave a little bit of room for Jesus.
We want to see what happens. Let things live a little bit in the world. With The Nap Dress, we got the prototypes. I was obsessed. Beyond obsessed.
I knew what this product was going to mean for me in my life. At the same time, I think I was rational enough to know that it could just be me. If people don’t like it, that’s fine, because I’ll figure out a way to make a small enough quantity that me and three other girls in my office we’re gonna wear it and that doesn’t matter if nobody else likes it.
Then we launched it. For the next about two years, every single time we dropped new Nap Dresses, they sold out.
It was definitely a very exciting and humbling next couple of years as the news of the dress traveled on its own.
In this episode of “Bitcoin, Explained,” hosts Aaron van Wirdum and Sjors Provoost revisit the replace-by-fee (RBF) node policy. As they mentioned in episode 65, the upcoming Bitcoin Core release — Bitcoin Core 24.0 — includes the option to switch on “full RBF,” but this has since caused some commotion in the Bitcoin community. Van Wirdum and Provoost explain what this commotion has been about and highlight some of the new arguments for and against full RBF.
RBF has been the topic of an earlier “Bitcoin, Explained” episode, therefore, van Wirdum and Provoost don’t go into an in-depth explanation on what RBF is exactly or how it works. However, they do briefly summarize its most important aspects.
Van Wirdum and Provoost then go on to explain why Bitcoin Core developers originally decided to include this feature, and they discuss some of the recent arguments for and against full RBF. These include the effect of RBF on “pinning attacks” — a type of attack that is especially relevant for the Lightning Network and other Layer 2 protocols — the relative safety of accepting unconfirmed transactions today, privacy-related arguments concerning the “opt-in” flag that RBF transactions currently use, the detrimental effects of monitoring the network for potential double spends and more.
Van Wirdum and Provoost also discuss the pros and cons of including RBF as an optional feature and thus letting node operators decide for themselves how their node deals with conflicting unconfirmed transactions. Provoost outlines why, in some cases, giving users more options could have detrimental effects on the health of the Bitcoin network, and considers whether the option to include the RBF option is such a case.
Finally, van Wirdum and Provoost briefly discuss an initiative by full-RBF advocate Peter Todd to incentivize miners to apply full-RBF logic to their transaction selection.
“Fed Watch” is a macro podcast, true to bitcoin’s rebel nature. In each episode, we question mainstream and Bitcoin narratives by examining current events in macro from across the globe, with an emphasis on central banks and currencies.
In this episode, CK and I cover our reactions to the FTX debacle, the latest consumer price index (CPI) numbers from the U.S. and the new central bank digital currency (CBDC) pilot by the Federal Reserve and banks. We touch on the G20 meeting in Bali, but run out of time at the end and don’t cover it in depth.
CPI Numbers From The U.S.
We had to skip last week’s show due to scheduling conflicts, so we missed covering the CPI numbers. This week, I read out some of the important details of the data.
October’s headline CPI change was +0.4%, almost half of the Cleveland Fed’s CPI Nowcast projection of 0.76%, and far below the industry forecast of 0.6%. It really shocked the market and stocks rallied hard.
Bitcoin’s expected reaction would have matched that of stocks if it were not for the FTX collapse happening at the time — even though FTX didn’t hold any bitcoin anyway, as it turns out. This move in the bitcoin price was therefore a sympathetic move with the industry. The correlation between altcoins and bitcoins won out over bitcoin’s correlation with stocks. However, that is evidence that bitcoin is oversold from a fundamentals perspective.
Shelter was the largest component in the monthly CPI and accounted for almost half of the increase. On the show, I spend some time explaining how the shelter component is designed to lag by 12-24 months. Without the addition from the lagging housing sector, CPI would have been 0.2% for the month. Annualized, that is 2.4%.
It is important to focus on the month-over-month change because that is the fundamental unit used to create the year-over-year (YOY) headline number. The YOY change does not do a good job of recognizing directional changes like peak CPI. You can think of it like a 12-month period moving cumulative change, similar to a moving average. The influence on the 12-period moving cumulative change of a sudden qualitative shift will be minimal in the first few periods. It is only after the new trend is well established that the broader 12-period average plainly communicates the data.
In this case, the YOY change in CPI is still 7.7%, even though the last four months have been 0%, 0.1%, 0.4%, and 0.4%. If you annualize the last four months, you get 2.7%, not 7.7%. Do not forget as well, that half of the recent rises are due to the lagging shelter component. It is not a stretch to say that the current rate of change in prices is under 2% on an annualized basis.
Charts
We went through 10 charts on the show, but I won’t cover them all here.
First up is bitcoin. You can see clearly the breakout of the pattern and the ensuing FTX dump. The horizontal zone was previous support turned to likely resistance. I also added a green line to denote the level with the most volume by price resistance as well, namely $19,000.
Bitcoin hourly chart
Next up is the U.S. dollar. Showing is the current rally, top and possible new higher range. I expect the behavior of the dollar to remain similar to the era after the Global Financial Crisis (GFC).
Dollar chart with new proposed range and ghost pattern from 2015 high
So far, the behavior of the dollar has been very similar to 2015 when the dollar rallied to the 1.618% Fibonacci extension and then was range bound — as you can see in the pink line. A copy of the pattern with tops matched up.
I expect the dollar to remain range bound as the financial system recovers slowly from the damage done by the acute dollar shortage. We can see this recovery in many currency charts, like the Hong Kong dollar, the Japanese yen and the euro.
U.S. Treasury yields for 10-year, 5-year and 2-year with the Fed Funds target range
We spent a few minutes discussing the above chart. For the first time in this cycle, the 5- and 10-year Treasury yields have entered the Fed Funds target range. Not only that, but the 10-year has fallen below the reverse repurchase agreement (RRP) rate of 3.8% and the lower limit of the Fed Funds of 3.75%.
This is a major change and a major component of my analysis of the Fed’s monetary policy going forward. If rates stop listening to Jerome Powell, the Fed will be forced to pivot.
Federal Reserves Digital Dollar Pilot
We were surprised to hear of the Federal Reserve’s pilot program with banks going forward to test a new dollar CBDC. We have been quite clear on “Fed Watch” that we do not expect the Fed to approve the use of a CBDC, instead they will legitimize USD stablecoins, bringing them into the Federal Reserve system.
I read from an article on The Street, however, during the show I ran out of time to cover it in detail. I recommend reading it in full.
“The proof of concept (PoC) project will test a version of the regulated liability network design that operates exclusively in U.S. dollars where commercial banks issue simulated digital money or “tokens” — representing the deposits of their own customers — and settle through simulated central bank reserves on a shared multi-entity distributed ledger.”
I don’t blame you if you don’t understand that word salad. CK and I are bitcoin specialists and we can barely follow it. Nothing in this pilot program shows that the Fed is close to a CBDC. We maintain our reasoning that Jerome Powell and the Fed will not go down this road, but they have to move quickly to make their intentions clear and bring USD stablecoins into the fold or else the next chairman might follow along with globalist leanings.
I also quote from Vice Chair Randal Quarles’ 2021 speech about CBDCs where he demonstrates a firm grasp of the CBDC game. We recommend reading it in full, as well.
“I emphasize three points. First, the U.S. dollar payment system is very good, and it is getting better. Second, the potential benefits of a Federal Reserve CBDC are unclear. Third, developing a CBDC could, I believe, pose considerable risks.”
Lastly, we cover the G20, but to be honest, we don’t have time to do it justice. Here is a link to The Guardian’s five takeaways from the G20 meeting.
This is a guest post by Ansel Lindner. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
