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FEDERAL RESERVE Powell warns of ‘some pain’ ahead as the Fed fights to bring down inflation
CNBC ^ | 8/26/2022 | Jeff Cox

Posted on 08/26/2022 11:29:50 AM PDT by socialism_stinX

Federal Reserve Chairman Jerome Powell delivered a stern commitment Friday to halting inflation, warning that he expects the central bank to continue raising interest rates in a way that will cause “some pain” to the U.S. economy.

In his much-anticipated annual policy speech at Jackson Hole, Wyoming, Powell affirmed that the Fed will “use our tools forcefully” to attack inflation that is still running near its highest level in more than 40 years.

Even with a series of four consecutive interest rate increases totaling 2.25 percentage points, Powell said this is “no place to stop or pause” even though benchmark rates are probably around an area considered neither stimulative nor restrictive to growth.

(Excerpt) Read more at cnbc.com ...


TOPICS: Business/Economy; Front Page News; US: Massachusetts
KEYWORDS: anwr; bideneffect; bidenflation; bidenvoters; creepstate; deepstate; dnctalkingpoint; dnctalkingpoints; elizabethwarren; fed; fedchairman; federalreserve; inflation; jacksonhole; jeffcox; jeromepowell; keystonexl; massachusetts; opec; policestate; recession; saxxonwoods; singlepartystate
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To: socialism_stinX

That’s interesting as I have always argued that de-linking of gold that Nixon did and the creation of SDPRs lead to what was a monetary cause of inflation. Essentially the country moved from having an honest money supply to pure fiat. You are arguing the opposite. I see union wages as a symptom of the problem. That monetary expansion caused inflation and unions responded to that inflation by making it worse through their wage demands. I suspect my view is what a Von Mises student would argue, and yours is supply side view.


41 posted on 08/26/2022 3:51:37 PM PDT by Sam Gamgee
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To: Bloody Sam Roberts

The markets did NOT like what the Fed said that’s for sure. Everything was well under water today. I wonder and this is only a guess if the Fed is relying on tough talk will help and does not actually plan on getting aggressive. Because what they propose will destroy the housing market and put mortgage holders at high risk. Not to mention the debt servicing will kill us for the nation.


42 posted on 08/26/2022 3:55:04 PM PDT by Sam Gamgee
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To: socialism_stinX

Money coming from Europe because of their stupid energy deal with Putin.

Euro is dropping causing money mangers to convert it to dollars.

Then congress is spending like drunken sailors (even drunken sailors commit stupid like this).

Definition of inflation, too many dollars chasing to few goods.

Sooo, Powell wants to increase interest rates to throw those who work out of jobs, and causing those same people not to be able to afford a small hubble to live in, all the while congress and money managers are laughing to the bank.

Seems about right!

I need more guns!


43 posted on 08/26/2022 4:06:49 PM PDT by Herakles (Diversity is applied Marxism )
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To: familyop

You are right about increasing homelessness. I spent some time in Las Vegas a several years ago on a coast-to-coast driving trip, and I was surprised at the huge increase in the homeless population in Vegas. I hadn’t been there since 2004, and there was a huge increase in the homeless population living on the streets there since 2004. They hang out near bus stops, convenience stores, and grocery stores. I was further surprised by the young age of these people. 25 years ago, 90% of homeless people appeared to be men between 35 and 65 years old, some with mental illnesses. But on this recent trip I saw a lot of homeless young people in their 20s living on the streets—even young women. It was a sad sight. The Obama regime and the Great Recession really nailed our economy and hiring by the private sector.

I heard that Las Vegas passed a new law that prohibits living on the streets, so they must have shelters for homeless people now. There was a resurgence of business confidence, hiring, and employment during the Trump presidency, and probably also some drop in homelessness from a peak during the Obama regime. There’s still a long way to go on employment and job training, but we’re moving in the right direction, if the Bidenites don’t screw it up.


44 posted on 08/26/2022 4:09:11 PM PDT by socialism_stinX (That socialist dog don't hunt.)
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To: socialism_stinX

even drunken sailors don’t commit stupid like this)


45 posted on 08/26/2022 4:09:55 PM PDT by Herakles (Diversity is applied Marxism )
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To: socialism_stinX

“After this speech today, I think there’s now about a 40% probability.....”

You left one thing out. THEY ARE TRYING TO DESTROY THE COUNTRY, DESTROY THE WORLD AND INSTALL THE NWO. Actually that was three things.


46 posted on 08/26/2022 4:10:19 PM PDT by Neverlift (When someone says "you just can't make this stuff up" odds are good, somebody did.)
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To: Sam Gamgee

Yeah, the stock market really got crushed today. I’m not sure why that happened. No doubt, some investors were hoping to hear the Fed hint at a pause in rate hikes, and that didn’t happen. Instead they got a fairly hawkish statement from Powell.


47 posted on 08/26/2022 4:25:58 PM PDT by socialism_stinX (That socialist dog don't hunt.)
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To: mewzilla

Interest rates for short term savings accounts should be 3% above inflation.


48 posted on 08/26/2022 5:23:55 PM PDT by Paladin2
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To: socialism_stinX
because the velocity of money increased substantially in the 1970s

The velocity of money is an economically hollow concept. Money is held by individuals and spent by individuals; it is always under someone’s control. The rate at which they spend it neither increases nor reduces its supply.

Trying to turn the individual decisions of millions into a mechanistic formula with predictive powers is seductive but ultimately meaningless.

49 posted on 08/26/2022 7:04:32 PM PDT by BfloGuy ( Even the opponents of Socialism are dominated by socialist ideas)
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To: Bloody Sam Roberts

This man is insane. We were warned about his incompetence but few listened including leader GOP Senators.


50 posted on 08/26/2022 7:14:55 PM PDT by MadMax, the Grinning Reaper (Figures )
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To: socialism_stinX; All

We are in a recession now.

Before 2023 we will be in a depression.

IMO


51 posted on 08/26/2022 7:27:17 PM PDT by Syncro (God is Good - Facts is Facts.)
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To: tbewin

And the marked dropped over a 1000 points TODAY!

And inflation is over 8.5% now.

The .01 is deceptive.

Just like Biden saying inflation was 0 last month.

Actually what happened was it did not increase, zero increase.

It was actually 8% or so.


52 posted on 08/26/2022 7:38:44 PM PDT by Syncro (God is Good - Facts is Facts.)
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To: Ebenezer

Yeah


53 posted on 08/27/2022 2:38:54 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: politicket

🔝🔝🔝


54 posted on 08/27/2022 2:41:29 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Syncro

I think so

Maybe Spring of 2023

The disaster keeps building momentum

I’m wondering if war will become the distraction


55 posted on 08/27/2022 2:48:26 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: Bloody Sam Roberts
>>>> They just don't get it. <<<<

Au contraire.

It's not incompetence.

It's intentional destruction of America.

56 posted on 08/27/2022 2:48:27 AM PDT by newfreep (“Leftism, under all of its brand names, is a severe, violent & evil mental disorder.”)
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To: Syncro

(And the marked dropped over a 1000 points TODAY!)

Wow


57 posted on 08/27/2022 2:49:11 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: newfreep

(It’s intentional destruction of America.)

I wish I could disagree.


58 posted on 08/27/2022 2:50:51 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: SaveFerris

It’s a bit shocking so many freepers STILL cannot see the evil intent of the DNC/Communist party...not just in the political arena but the culture as well.


59 posted on 08/27/2022 2:53:21 AM PDT by newfreep (“Leftism, under all of its brand names, is a severe, violent & evil mental disorder.”)
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To: Neverlift; Roman_War_Criminal; metmom; Maudeen; Bulwyf; HeadOn; SisterK; Diogenesis; Karliner; ...

(AND INSTALL THE NWO)

Daniel 7:23 says you are correct.

The fourth beast world government will be under the authority of Satan’s anti-messiah and the False Prophet, IMHO.

Daniel 7:23
New King James Version

23 “Thus he said:

‘The fourth beast shall be
A fourth kingdom on earth,
Which shall be different from all other kingdoms,
And shall devour the whole earth,
Trample it and break it in pieces.

https://www.biblegateway.com/passage/?search=Daniel+7%3A23&version=NKC


60 posted on 08/27/2022 2:57:15 AM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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