More than 1.5 million Americans filed for unemployment last week, bringing the total jobless claims to over 44 million in the last 12 weeks. Yes, weekly job losses continue despite a big gain in May. And yes, the rollercoaster on Wall Street is just as bumpy as it was a few months ago.

To help try and demystify the current state of the economy, we're joined today by Mark Spindel, one of my oldest friends in the world and the Managing Member, Chief Executive Officer and Chief Investment Officer for Potomac River Capital.

Mark, who along with Sarah Binder, recently published: The Myth of Independence: How Congress Governs the Federal Reserve. If you're looking for a deep dive on the Fed, this is the book for you.

Have a money question? Email me here.

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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.