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Keyword: jeromepowell

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  • The Fed concedes that Trump was right all along

    09/04/2020 3:40:56 PM PDT · by knighthawk · 20 replies
    Fox Business ^ | September 04 2020 | Stephen Moore
    Federal Reserve Chairman Jerome Powell admitted last week at the “virtual” Jackson Hole symposium that the Fed has undershot its 2% annual inflation target consistently for the last several years. The Fed is tacitly admitting that its deflationary monetary policy has restrained growth and held down wages. Now the Fed is promising to aim higher in order to get more dollar liquidity into the economy.
  • FEDERAL RESERVE Powell Set To Deliver ‘Profoundly Consequential’ Speech, Changing How The Fed Views Inflation

    08/24/2020 5:38:19 PM PDT · by Enlightened1 · 75 replies
    CNBC ^ | 08/24/20 | Jeff Cox
    Fed Chairman Jerome Powell will speak Thursday during a virtual version of the Fed’s annual Jackson Hole, Wyoming, conference. He is expected to outline what could be the central bank’s most active efforts ever to spur inflation back to a healthy level. “Average inflation” targeting means the Fed will allow inflation to run higher than normal for a period of time. The effort will be the reverse of former Fed Chairman Paul Volcker’s rate hikes instituted to quash inflation in the 1980s. History will remember Paul Volcker and Jerome Powell as standing on the opposite ends of the inflation canyon,...
  • Federal Reserve is hiding something big.

    08/04/2020 9:32:35 AM PDT · by delta7 · 44 replies
    Wall street on parade ^ | Aug 3 2020 | Ms Martens
    "Federal Reserve Chairman Jerome Powell and Randal Quarles, the Vice Chairman for Supervision at the Fed, have stated in testimony before Congress that they would be providing transaction level details of their Section 13(3) Emergency Lending Facilities on a regular, ongoing basis. But the three oldest of those facilities, the Primary Dealer Credit Facility (PDCF), the Commercial Paper Funding Facility (CPFF), and the Money Market Mutual Fund Liquidity Facility (MMLF), which were all created more than four months ago in mid-March, have yet to release any transaction level details to the public. The Fed is required to provide reports every...
  • News Summary-Intelligence Report Wednesday 5/13/2020

    05/13/2020 8:27:22 PM PDT · by Nextrush · 4 replies
    Nextrush Free ^ | 5/13/2020 | Nextrush/Self
    The Chairman of the Federal Reserve Board Jerome Powell says more stimulus spending is needed to prevent a slow and painful economic recovery...... In Washington state authorities are gearing up for testing, contact tracing and quarantine efforts that will include children's "camps" in the name of fighting Covid-19..... More clashes tonight in the Mea Shearim neighborhood of Jerusalem as Orthodox Jewish residents sought to meet publicly in spite of Israeli government restrictions.... "Gestapo" was the message shouted at police in Lakewood, New Jersey Monday..... Police in Ukraine asking for the addresses of all the Jews in one community.... The family...
  • 'Boneheads' no more? Fed's rate cuts appear to defuse Trump's Twitter rage

    12/12/2019 11:47:31 AM PST · by Oldeconomybuyer · 29 replies
    Reuters ^ | December 12, 2019 | by Howard Schneider
    WASHINGTON - After three interest rate cuts and a fresh round of record highs for U.S. stock markets, has President Donald Trump lost interest in the Federal Reserve? A count of tweets from Trump about U.S. monetary policy suggest a detente may have taken hold between an elected leader who has lambasted Fed officials with insults like “clueless” and “boneheads” and a central bank whose rate cuts have helped buffer the economy from the administration’s own unpredictable trade and tariff policies. On Wednesday, the Fed left interest rates unchanged at the end of a two-day policy meeting, and signaled it...
  • Powell Prods Congress

    11/15/2019 3:35:23 PM PST · by spintreebob · 2 replies
    American Action Forum ^ | 11-15-19 | Dougas Eakin
    Although you might not have noticed — something else seems to have been going on — Federal Reserve Chair Jerome Powell spent Wednesday and Thursday testifying before Congress. In the end, he delivered a very simple and effective message: The Fed is successfully doing its job; maybe Congress should consider doing its job. As for the first, Powell reviewed the facts on the ground. Gross domestic product grew at an annualized rate of 1.9 percent in the 3rd quarter, disappointingly down a bit from 2018. The household sector remains strong, buoyed by a very solid labor market — 3.6 percent...
  • WH projects $1 trillion deficit for 2019

    07/16/2019 10:00:43 AM PDT · by DoodleDawg · 76 replies
    The Hill ^ | 7/16/19 | Niv Elis
    The White House projects that the federal deficit will surpass $1 trillion this year, the only time in the nation's history the deficit has exceeded that level, excluding the four-year period following the Great Recession. "The 2019 deficit has been revised to a projected $1.0 trillion," the White House Office of Management and Budget (OMB) wrote in its midyear review. As a candidate, President Trump promised to wipe out not only the deficit but the entire federal debt, which has surpassed $22 trillion. Republicans cast aside projections that their 2017 tax reform law would add $1.9 trillion to the deficit...
  • Fed Chairman Jerome Powell’s Approach to Interest-Rate Policy Wins Bipartisan Backing

    07/09/2019 4:42:10 AM PDT · by reaganaut1 · 35 replies
    Wall Street Journal ^ | July 9, 2019 | Nick Timiraos
    President Trump’s relentless public criticism of the man he picked to run the Federal Reserve, Jerome Powell, isn’t broadly shared by lawmakers who confirmed the central bank leader to his post last year. The Fed chairman heads to Capitol Hill for two days of testimony beginning Wednesday, and lawmakers on both sides of the aisle have mostly commended the job he is doing. In interviews, they declined to endorse Mr. Trump’s call for the Fed to cut interest rates and said they would oppose efforts by the president to remove Mr. Powell from office. Mr. Trump is angry Mr. Powell...
  • Fed remains unchanged on rates, pledges to 'sustain the expansion'

    06/19/2019 12:01:45 PM PDT · by Hojczyk · 16 replies
    Yahoo Finance ^ | June 19, 2019 | Brian Cheung
    The Federal Reserve did not move on rates at the conclusion of its policysetting meeting June 19, but committed itself to acting “as appropriate to sustain the expansion.” The Fed elected to keep the benchmark interest rate within its target range of 2.25% to 2.5%, but new economic projections show more Fed officials seeing the case for a rate cut — or two — by the end of 2020. The Fed said it still sees a “sustained expansion of economic activity, strong labor market conditions, and inflation near” the committee’s 2% target, but added that “uncertainties about this outlook have...
  • Despite Mainstream Media Claims: No Doom and Gloom Behind Low Interest Rates

    06/11/2019 4:29:48 AM PDT · by Kaslin · 6 replies ^ | June 11, 2019 | Ken Blackwell
    The stock market is rebounding on the news that the Federal Reserve is considering an interest rate decrease, but some commentators are spinning this as a sign of economic calamity.“We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective,” Federal Reserve Chairman Jerome Powell said Tuesday.Experts widely interpreted this as an indication that the Fed may soon implement a rate cut after raising rates steadily over the entire course of Donald...
  • Trump blames Fed once again for hurting economic growth

    05/28/2019 7:35:18 AM PDT · by Moonman62 · 27 replies
    Fox Business ^ | 5/25/19 | Megan Henney
    While speaking at a meeting of Japanese business leaders in Tokyo, Trump said the stock market would be anywhere between 7,000 to 10,000 points higher if the U.S. central bank had chosen to keep interest rates steady. He also suggested that the growth rate in the U.S. would have exceeded 3 percent. "But they wanted to raise interest rates," he said. "You’ll explain that to me." Trump, despite hand-picking Chairman Jerome Powell more than a year ago, has been a frequent critic of the Fed, often urging policymakers to cut interest rates from the current target range of 2.25 percent...
  • No, Trump Can’t Fire Me, Fed Chair Jerome Powell Says

    03/12/2019 2:15:32 AM PDT · by DeathBeforeDishonor1 · 45 replies
    Barrons ^ | 3/12/19 | Connor Smith
    Federal Reserve Chairman Jerome Powell hasn’t said much about President Donald Trump’s frequent criticism of the central bank. But in a new interview, Powell made clear there’s one thing Trump can’t say to him: “You’re fired.” “The law is clear that I have a four-year term,” Powell said on CBS’s 60 Minutes, in an interview that aired Sunday night. “And I fully intend to serve it.” Pressed on whether Trump has the authority to fire him, Powell said, “no.” Powell declined to answer questions about Trump’s unorthodox criticisms of the Fed, saying it wouldn’t appropriate for him to comment on...
  • Fed Chair Jerome Powell Crashed Trump Stock Market, Cost US Billions In New Debt, Trillions n Wealth

    02/28/2019 2:10:02 PM PST · by Enlightened1 · 46 replies
    GP ^ | 02/28/19 | Jim Hoft
    The US economy and markets hit several historic records in 2018. President Trump was correct in his policy and the economy was never stronger. Then in October Federal Reserve Chairman Jerome Powell stepped in and destroyed the outstanding gains. The market tanked, the Dow Jones dropped over 5,000 points, the Middle Class was decimated and the global markets are now in chaos. The Jerome Powell stock market crash is now GREATER THAN the market crash after 9-11. The guy is a dangerous lunatic. The Dow is down 5,036 in December from its all-time high on October 3, 2018. Since Jerome...
  • Dow surges 800 points after Powell comments, blowout jobs report

    01/04/2019 10:17:27 AM PST · by abb · 86 replies
    CNBC ^ | January 4, 2019 | Fred Imbert
    Stocks rallied on Friday after two positive pieces of news for the market. At 8:30 a.m., the Labor Department said the U.S. economy added 312,000 jobs in December. That blew past an expectation of 176,000 jobs. Later on Friday morning, Federal Reserve Chairman Jerome Powell said the central bank will be patient in raising rates, quelling fears of tighter monetary policy in the near future. The Dow Jones Industrial Average rose 800 points, or 3.5 percent. The S&P 500 rallied 3.5 percent, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.3 percent. This was a...
  • Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump

    12/27/2018 11:52:59 AM PST · by COUNTrecount · 135 replies
    Daily Mail UK ^ | December 27, 2018 | Francesca Chambers
    Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him Dow Jones closed up 1,086.25 points, or 4.98 per cent, on Wednesday It was the stock index's largest single-day points gain in U.S. history Follows biggest-ever Christmas Eve plunge for markets on Monday White House officials tried to soothe fears over Trump's fury at Federal Reserve He's upset about rate hikes and reportedly said he wanted to fire the fed chair Federal Reserve Chairman Jerome Powell is now telling the White...
  • Financial analyst describes Fed chair Powell as ‘train wreck under the Christmas tree’

    12/26/2018 3:53:06 PM PST · by SleeperCatcher · 9 replies
    The National Sentinel ^ | 12/26/18 | USA Features
    The U.S. markets in December have taken a beating, posting the biggest losses for the month since 1931. In all, the Dow Jones Industrial Average is off more than 3,300 points from its Sept. 21 high of 26,656.98 (though the index has risen about 500 points on the day Wednesday). The Dow’s losses are tied to a number of uncertainties, we are told, including the trade war with China, the current partial government shutdown and, some believe, the fact that Democrats won the House in November and the Trump economic miracle is likely to be stymied.
  • Trump administration pushes back on report Trump could fire Fed chairman

    12/22/2018 3:49:27 PM PST · by E. Pluribus Unum · 18 replies
    Washington Examiner ^ | December 22, 2018 06:41 PM | Updated Dec 22, 2018, 06:42 PM | Colin Wilhelm
    The Trump administration pushed back Saturday against a report that President Trump is considering firing Federal Reserve Chairman Jerome Powell. In two tweets posted on Saturday evening, Treasury Secretary Steven Mnuchin said that he'd spoken to Trump about Powell on Saturday, and that Trump told him, "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.” White House press secretary Sarah Sanders told the Examiner that she's, "aware of no plans,” to fire Powell in an email. Trump is unhappy with Powell and the Fed over continuing interest rate hikes to the...
  • Fed Chairman Powell sends markets soaring with suggestion rate hikes may slow

    11/28/2018 9:49:22 AM PST · by mandaladon · 18 replies
    WaPo ^ | 28 Nov 2018 | Damian Paletta
    Federal Reserve Chairman Jerome Powell on Wednesday suggested the central bank could be close to slowing down the pace of its recent interest rate increases, saying rates are now just slightly below what he considers a “neutral” level. His comments marked a sharp change from his position last month, when he said the Fed still had a “long way” to go before it reached that equilibrium. U.S. stock markets soared on Powell’s comments, as he appeared to signal that the Fed would not move forward aggressively to raise rates much further than it already has. Still, by saying rates were...
  • Can the President Fire the Fed Chairman? How Trump Could Fire Powell And Rebuild The Fed

    11/28/2018 1:28:02 PM PST · by SeekAndFind · 100 replies
    Forbes ^ | 11/28/2018 | Patrick Watson
    In recent weeks, Trump criticized Federal Reserve Chairman Jerome Powell several times. He doesn’t like that Powell is leading the Fed to raise interest rates.Past presidents avoided such comments so they wouldn’t appear to be interfering. But Trump doesn’t care about appearances.The Fed is somewhat insulated from electoral politics. The chair and board members have fixed terms. Its composition changes slowly... but it doesn’t have to.Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors.Markets should pay attention. I don’t think they are. Breaking Precedent A common perception, even among Fed...
  • CNBC’s Jim Cramer: Maybe Fed Chair Powell Wants Trump To Lose

    10/30/2018 2:42:16 PM PDT · by Rusty0604 · 22 replies
    Breitbart ^ | 10/30/2018 | John Carney
    Popular CNBC personality Jim Cramer said Tuesday that Jerome Powell’s determination to keep raising interest rates may be a signal that the Fed chairman wants to undermine President Donald Trump’s agenda. “Maybe he wants Trump to lose,” Cramer said on the financial news networks’ “Squawk on the Street” program. Cramer has been saying for several weeks that the Fed should halt rate hikes after December. The Fed has hiked rates three times this year and is widely expected to hike rates again at its December meeting. The Fed’s projections show central bankers expect to keep raising rates in 2019.