On the same week that Federal Reserve Chairman Jerome Powell met with President Biden in the White House—and as the administration highlights its determined effort to tame raging inflation—both Wall Street and Main Street are on tenterhooks. "It's a battle between Main Street and Wall Street as to who controls the Federal Reserve," says DICK BOVE, in this episode. 

BOVE, chief financial strategist at Odeon Capital Group, says fighting inflation, taming prices on the grocery shelves and at the gas pump, are Main Street's priority. Wall Street, on the other hand, is more concerned about rising interest rates and how that could sharply curb and prevent the market from "rising substantially higher," he adds. Whose side is the President on? BOVE has the answer. Wall Street, meanwhile, is already feeling the sharp blow of the market pullback. "Dead cat bounces in the middle of a declining market are nothing new," says MAT VAN ALYSTYNE, Odeon co-founder and managing partner, explaining the recent surge in the major indexes. 

In the MAIN SEGMENT of this CONVERSATION, the US housing market is in the spotlight with weaker sales and prices anticipated by BOVE. "Housing will slow down, and it will slow down meaningfully," according to BOVE. Joining the deep dive is host JOHN AIDAN BYRNE who asks BOVE for his assessment of housing price trends in the US in light of recent forecasts by several major banks. Also under the spotlight is the emergence in the US of "housing slums", properties owned and operated by investors.