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FEDERAL RESERVE Powell Set To Deliver ‘Profoundly Consequential’ Speech, Changing How The Fed Views Inflation
CNBC ^
| 08/24/20
| Jeff Cox
Posted on 08/24/2020 5:38:19 PM PDT by Enlightened1
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Chairman Powell of the Federal Reserve wants to allow inflation.
This goes against what every Fed Chairman that did in the past to curve inflation.
This means prices will go up, and Americans standard of living will go down.
To: Enlightened1
What do they care? They’ll never go hungry, like plenty of “little” people will.
2
posted on
08/24/2020 5:41:56 PM PDT
by
glorgau
To: Enlightened1
Especially those on fixed incomes.
3
posted on
08/24/2020 5:42:05 PM PDT
by
Truth29
To: glorgau
It’s a political move to hurt President Trump right before the election.
We have the shutdown of our economy, and now Powell wants to allow prices on everything to rise?
To: Enlightened1
Trying hard to kill what’s left of the economy before November.
5
posted on
08/24/2020 5:43:03 PM PDT
by
Jeff Chandler
(This Space For Rant)
To: Truth29
It is going to hurt people on fixed incomes BIG TIME.
To: Enlightened1
Prices have been going up courtesy of the fed. The Fed is pumping inflation, while deflation is the answer of the future.
7
posted on
08/24/2020 5:44:36 PM PDT
by
Theoria
(I should never have surrendered. I should have fought until I was the last man alive)
To: Theoria
Exactly!
It is about our purchasing power. With deflation we can buy more with our dollar.
To: Enlightened1
Its a political move to hurt President Trump right before the election. What's more damaging to Trump, inflation at 3% rather than 2% or an unemployment rate of 10.3%? The Fed is trying to help tackle unemployment and it may be at the cost of slightly higher inflation rates.
To: Enlightened1
They will be bringing a giant sucking machine into your savings account.
Time to invest in gold or real estate.
To: glorgau
Note where the conference is being held, Jackson Hole WY. Says a lot about how the do not cRe about the average taxpayer.
11
posted on
08/24/2020 5:48:06 PM PDT
by
georgiarat
(The most expensive thing in the world is a cheap Army and Navy. - Carl Vinson)
To: Enlightened1
Two words: Gold Standard.
12
posted on
08/24/2020 5:48:25 PM PDT
by
LIConFem
(I will no longer accept the things I cannot change. it's time to change the things I cannot accept)
To: Enlightened1
Contrary to the very mission of the Fed, which is to ensure the stability of the currency. A (historically low) inflation rate of 3% will halve the value of the currency in 24 years, and make $1.00 worth about $0.06 in a century - which is about what the Fed has done, if not worse.
The Fed has failed its primary (public) mission (and what it’s REAL mission was/is has probably never been released to the public - but it is not federal, doesn’t have reserves, and isn’t a bank, though it is owned by banks). What Powell is doing is only ensuring that this failure will continue, if not accelerate.
13
posted on
08/24/2020 5:49:32 PM PDT
by
Ancesthntr
("The right to buy weapons is the right to be free." A. E. van Vogt, The Weapons Shops of Isher)
To: Enlightened1
If you are working and get salary and wage increases to match, you’ll come out ok. Retirees on fixed incomes are the ones that really get screwed, especially if they are renters.
14
posted on
08/24/2020 5:49:55 PM PDT
by
ProtectOurFreedom
("And oft conducted by historic truth, We tread the long extent of backward time.")
To: Flavious_Maximus
They will be bringing a giant sucking machine into your savings account.
So that will replace the laugh track that currently plays when I open my statement?
15
posted on
08/24/2020 5:50:27 PM PDT
by
LostInBayport
(When there are more people riding in the cart than there are pulling it, the cart stops moving...)
To: LostInBayport
So that will replace the laugh track that currently plays when I open my statement?
Weeping first. Then rage, Id imagine.
L
16
posted on
08/24/2020 5:53:03 PM PDT
by
Lurker
(Peaceful coexistence with the Left is not possible. Stop pretending that it is.)
To: Enlightened1
The number that cannot go up is the interest rate. If that goes up to 1970s levels the country will go broke REALLY fast.
17
posted on
08/24/2020 5:53:42 PM PDT
by
Dr. Sivana
(There is no salvation in politics)
To: Enlightened1
Well prices in general have doubled/tripled on most things in the past 20 years while quality has gone down.
If that was deflation, I can’t wait for inflation.
18
posted on
08/24/2020 5:54:02 PM PDT
by
Pollard
(whatever)
To: ProtectOurFreedom
Since it will cost more to do business, then expect more employed people to lose their jobs.
This is not a good thing. It is really bad.
We have inflation under President Carter and it was devastating in the last 1970s.
To: DoodleDawg
“What’s more damaging to Trump, inflation at 3% rather than 2% or an unemployment rate of 10.3%? The Fed is trying to help tackle unemployment and it may be at the cost of slightly higher inflation rates.”
While I agree with you about the (temporary) effect of slightly higher inflation, nothing that the Fed does in the next 40 or so days is going to change the election results. I use 40 or so days because the last UE report that the public will see before the election is the one for September. So the Fed’s action would have to have an almost instantaneous effect - and that just never happens except when they funnel money to banks to buy stocks (but that doesn’t help UE).
20
posted on
08/24/2020 5:55:43 PM PDT
by
Ancesthntr
("The right to buy weapons is the right to be free." A. E. van Vogt, The Weapons Shops of Isher)
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