“The story we tell ourselves about the 1970s has almost no resemblance to reality.” That’s what Mike Green and his guest Skanda Amarnath discuss in this fascinating and enlightening interview. Amarnath is a former hedge fund researcher and Fed employee who is now Executive Director of Employ America — he says the belief that the Fed has ultimate control over the economy just by changing interest rates is naive. Mike and Skanda dive deep into the history of US economic policy and look at the lessons we can learn that will have you re-thinking both the 1970s inflation story and the mainstream ideas behind the Fed's monetary policy. Filmed on October 15, 2021.