Free Republic

The April pronouncements of Federal Reserve Chairman Jerome Powell at Stanford University have sparked a crucial discourse about the ramifications of mass immigration on the American economy. Powell's observations emphasized the significant role of immigrants, particularly within lower-paying sectors of the labor market, prompting economists to hastily reconsider their projections. The forecasts presented by the Congressional Budget Office (C.B.O.) paint a stark panorama: an astounding 3.3 million individuals entered the United States in 2023 alone, with similar figures anticipated for 2024. While some champion these statistics as heralds of economic expansion, the underlying reality is bleak. The majority of this...

Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not just be establishing interest rates, but to be setting policies for desired social outcomes. “Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change.” Aurel Hizmo, Principal Economist at the Federal Reserve, who prior to working at the Fed was an Assistant...

James O’Keefe’s O’Keefe Media Group has released undercover footage of a Federal Reserve employee admitting to how Federal Reserve Chair Jerome Powell sabotaged President Trump and wants to go down in history as “someone who held the line against Trump.” Principal Economist Aurel Hizmo, a self-proclaimed liberal, told an undercover journalist more about Powell’s hatred for Trump, saying, “As soon as he became Chair, Trump wanted him to lower interest rates. Because when you lower interest rates, it stimulates the economy, and Trump was President. He wanted to stimulate the economy, but he wouldn’t do it. And he started raising...

Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not just be establishing interest rates, but to be setting policies for desired social outcomes. “Under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following. Think about climate change.” Aurel Hizmo, Principal Economist at the Federal Reserve, who prior to working at the Fed was an Assistant...

The Meltdown of Commercial Real EstateIn case you’ve still got money in a bank, Bloomberg is warning that defaults in commercial real estate loans could “topple” hundreds of US banks.Leaving taxpayers on the hook for trillions in losses.The note, by Senior Editor James Crombie, walks us through the festering hellscape that is commercial real estate.To set the mood, a new study predicts that nearly half of downtown Pittsburgh office space could be vacant in 4 years. Major cities like San Francisco are already sporting zombie-apocalypse downtowns, with abandoned office buildings baking in the sun.So what happened? The Fed’s yo-yo interest...

Trump Predicts the Fed Will Lower Rates to Help Democrats We also were keen to ask Trump if he thinks the Federal Reserve and Chairman Jerome Powell will cut interest rates specifically to help Joe Biden (or another Democrat) win the general election. The former President said he does think that is how things will play out. "Yeah, I think they will,” he said, before taking a light dig at Powell. “I was never a big fan of this guy,” Trump told us, before casually pointing the finger at his own Treasury Secretary. “Steve Mnuchin recommended him, but I was...

Notwithstanding the lopsided opinions the editors of Time Magazine foist upon readers, the real Person of the Year is actually Man of the Year: the chair of the Federal Reserve, Jerome Powell.One of the criteria Time Magazine uses for its choice is “who most shaped the headlines over the previous 12 months, for better or for worse.” (Emphasis added.) That seems like a narrow perspective from which to filter candidates. Still, per Google Trends, “Taylor Swift” may have been a more popular online search term than “Jerome Powell.”One wonders who was conducting those Google searches. Perhaps it was adoring girls...

ederal Reserve Chairman Jerome Powell acknowledged recent signs of cooling inflation, but said Thursday that the slowing in price increases was not enough yet to determine a trend and that the central bank would be “resolute” in its commitment to its 2% mandate. “Inflation is still too high, and a few months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal,” Powell said in prepared remarks for his speech at the Economic Club of New York. “We cannot yet know how long these lower readings...

VIDEOWhen the Chairman of the Federal Reserve Jerome Powell starts sounding like Jim Cramer then you know the American banking system is in deep deep trouble.

In response to your recent December news release statement concerning “Principles for Climate-Related Financial Risk Management for Large Financial Institutions” and request for public comments, I have the following comment to your board. The intended purpose of the Federal Reserve is formulating U.S. monetary policy through the control of currency and interest rates, as well as promoting financial stability through the regulating of financial institutions. If members of the Federal Reserve are so concerned about climate, environmental and energy policies, then I strongly suggest that those members resign from the Federal Reserve. These former members could then simply seek other...

Federal Reserve Chairman Jerome Powell tested positive for COVID-19 and is experiencing mild symptoms, the central bank announced Wednesday. The Fed leader is isolating at his home and plans to work remotely, in accordance with COVID-19 guidance from the Centers for Disease Control and Prevention. Powell is vaccinated and boosted, according to the release. No further details on Powell’s illness were provided. Powell’s positive tests comes as the Fed faces the issue of inflation and an economic slowdown with the risk of a recession looming. The Fed chair was in Sweden last week to deliver remarks on central bank independence.

Jerome Powell, Chair of the U.S. Federal Reserve, has silenced the calls for a U.S. central bank digital currency (CBDC) to be issued in the near future, saying that the central bank has “not decided to proceed” with the issuance of a CBDC for the time being. "We do not see ourselves making that decision for some time," he said Tuesday, speaking remotely on a panel about the role of central banks in digital markets to global financial leaders and crypto regulation experts attending a conference in Paris. Powell indicated that the central bank would instead be working in collaboration...

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...

Chair Jerome Powell said that the Federal Reserve has over the past year learned 'how little we understand inflation' in remarks Wednesday. 'I think we now understand better how little we understand about inflation,' the chair divulged at the European Central Bank (ECB) Forum in Sintra, Portugal. 'This was unpredicted.' 'That's not very reassuring,' quipped Bloomberg TV's Francine Lacqua.

So Putin didn't do it after all. Sorry, Joe. So Putin didn't do it after all. That's the uncomfortable-for-Joe-Biden verdict on inflation from Federal Reserve chairman Jerome Powell, in testimony to Congress yesterday. According to Fox News: Federal Reserve Chairman Jerome Powell on Wednesday appeared to contract President Biden's repeated insistence that Russia's invasion of Ukraine was the primary driver behind inflation in the U.S. During a Senate Banking Committee hearing, Sen. Bill Hagerty, R-Tenn., got Powell to admit that inflation was high well before Russia's Feb. 24 invasion of Ukraine. Hagerty noted that in December 2021, inflation has risen...

Federal Reserve Chairman Jerome Powell said Wednesday that Russia’s invasion of Ukraine is not the primary driver of inflation. In a Senate Banking Committee hearing Wednesday morning, Sen Bill Hagerty (R-TN) pointed out that inflation rose from 1.4 percent in January of 2021 to seven percent by the end of the year, months before Russia invaded Ukraine. It has since risen another 1.6 percentage points. “Given how inflation has escalated over the past 18 months, would you say the war in Ukraine is the primary driver of inflation?” Hagerty asked. “No,” Powell responded. “Inflation was high. Certainly, was high before...

Federal Reserve Chairman Jerome Powell conceded on Wednesday that the Federal Reserve’s battle to bring down inflation could trigger a recession. “It’s certainly a possibility,” Mr. Powell said Wednesday during the first of two days of congressional hearings. “We are not trying to provoke and do not think we will need to provoke a recession, but we do think it’s absolutely essential” to tame inflation. [cut] Powell told the Senate Banking Committee that achieving a soft landing would be “very challenging.” “The events of the last few months around the world have made it more difficult for us to achieve...

JUST IN – Fed Chair Powell: "Rapid changes are taking place in the global monetary system that may affect the international role of the dollar." 👀— Bitcoin Magazine (@BitcoinMagazine) June 17, 2022

President Joe Biden plans to sign an executive order on Wednesday to study the concept of a “digital dollar” currency to compete with Bitcoin. “We’re placing the highest urgency on the effort to assess the potential benefits and the risks of a digital dollar on payment systems, on financial stability, on national security, on the implications for human rights, and financial inclusion,” a senior administration official told reporters in a briefing call on Tuesday. A digital dollar would be easier for the federal government of the United States to control than cash but make it more susceptible to inflation and...

Consumers may soon see the most aggressive Federal Reserve in decades. Expectations are growing that the U.S. central bank will hike interest rates this year by the most since 2005 as inflation hits a 40-year high. How much depends on who you ask: Goldman Sachs is penciling in seven increases, while traders are betting on at least six, according to CME Group's FedWatch. Travels World Tour Ad Ad travelworldtourism.com Travels World Tour Fed Chair Jerome Powell at a March congressional testimony also opened the door to a massive half-point increase if price pressures don't settle down, which would be the...