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Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing on Capitol Hill in Washington, Tuesday, March 7, 2023.
Federal Reserve Chairman Jerome Powell testifies during a Senate Banking Committee hearing on Capitol Hill in Washington, Tuesday, March 7, 2023.
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Hey readers. Phil Rosen here. As you might guess about a writer, I love to read. 

I've collected hundreds of books over the years, and stacks of paperbacks line the walls of my room. But the most useful knowledge I've learned comes from a very small fraction of those books. 

This is the Pareto principle, more popularly known as the 80-20 rule: Roughly 80% of impact comes from 20% of the causes. 

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Jerome Powell at the July 2022 FOMC press conference.
U.S. Federal Reserve Chair Jerome Powell attends a press conference in Washington, D.C., the United States, on July 27, 2022
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Barry Sternlicht
Billionaire investor Barry Sternlicht slammed the Federal Reserve's heavy-handed interest-rate hikes Thursday.
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Silicon Valley Bank, Fed Chair Jerome Powell
Silicon Valley Bank, Fed Chair Jerome Powell