Graham Stephan: a call with no clear direction

The window it was checked over

Federal funds target range, upper limit: Federal Reserve Board via FRED, figures as first published. The shaded span is the window the call was checked over; grey bands are recessions.

What was said around it

government loses. The fact is higher Treasury yields means more interest on the $39 trillion national debt. Bigger interest payments mean bigger deficits. Bigger deficits mean more borrowing, which means higher interest rates, which means even higher deficits. However, not everything is doom and gloom, and there's also some very clear winners from this. And the biggest winners in my eyes are savers. In this case, if you have money sitting in a high-yield savings account, a CD, or you go and buy Treasuries short-term, this could be a great time for you. Like the 30-year Treasury is already above 5%, the highest in nearly two decades. So, for anybody who wants a safe stable return without the risk of the stock market, this is pretty good. Even though long-term Treasuries are expected to underperform stocks, but that's a subject for another video. Short-term, this is good for savers as well as number two, banks are also winning. In this case, higher interest rates and higher inflation means that banks could charge more for long-term loans while paying out less for short-term deposits. This means more profit for banks, and this is already showing up in their stocks. And finally third, this

What a person said is shown in their own words and is never translated. The link goes to the exact second in the video.