Posted on 06/17/2021 8:29:26 AM PDT by JV3MRC
A Fox Business contributor wasn’t having it with the money printing-obsessed Federal Reserve raising its inflation target and moving up expectations for an interest rate hike only in 2023.
Kaltbaum Capital Management owner and president Gary Kaltbaum tore into the Fed for its money-grows-on-trees behavior. Kaltbaum stated during the June 16 edition of Making Money with Charles Payne: “We’ve been hearing for years their inflation target of 2 percent, and now it's 3.6 [percent]. And last I looked, we’re in June of 2021, and they’re talking about what they’re going to do in 2023.” He did not let up: “I don’t even know where to go with this.” His assessment of the Federal Reserve’s behavior was blunt: “I don’t think they get it.”
Kaltbaum put major emphasis on grave concerns he had for the market based on the Fed juicing it with so much cash while keeping rates consistently near zero.
"My biggest worry remains: They have printed so much money, kept rates so low for so long, distorted markets, screwed savers — the final outcome just worries the heck out of me. I don’t know if they know what they’re doing at this point in time."
(Excerpt) Read more at newsbusters.org ...
Now they will be raising rates, can you say stagflation?
Biden = Carter 2.0
Au contraire. The Fed knows exactly what it is doing. It’s Soros’ pal.
Yep. The script is playing out masterfully. And the left wants more and more and more of it. Disgusting.
Goldman Sachs is hoarding cash because they will charge you high interest to borrow it when the time comes. You won’t own anything but you’ll be happy.
The annual inflation rate is 3.6%—omg—on what planet is this?
Gary is pretty damn smart, IMO.
It’s not that great for the market, IMO. Weeks ago, indeed, up til y’day, the story was that inflation would be GOOD for the market, because “stocks were gonna be the only way to keep up”. Right?
Gold obliterated. Bonds ramping like crazy. Bonds ramping = kills the banks. Now, if a stronger USD whacks oil, the market will be in trouble.
CATerpillar down 35 points in a week. CAT is not just CAT. It is a ratification of all things industrial, agricultural, and yes, infrastructure.
It’s all down to tech to save the market. Will that be enough?
I don’t know what the Soros pal thing is supposed to mean.
If Kaltbaum doesn’t know what they’re doing, he’s the only one.
This entire administration is making a garage sale out of America. They don’t care whether America has an economy, or not. Hell, from the response to the China Virus, they don’t care whether America has Americans, or not.
If you listen carefully, you’ll notice that the music has stopped and the chairs are in shipping containers headed back to China.
They don’t get it because inflation is not a problem for THEM.
They are not raising rates UNTIL 2023, IF they do it then . . . that’s the point Kaltbaum is making
The script is playing out masterfully.
*************
Yep, the Left is systematically meeting all their objectives, with assistance of a complicit media and the willing cooperation of intimidated Republicans. Its been a fairly easy road for them.
Arresting the growth of the destructive monster they have created seems unlikely now. Big government was the key to it all.
They are not raising rates UNTIL 2023,
************
A flat out lie — and the Fed knows it.
The original Communist Revolution had hyperinflation. Venezuela has hyperinflation. If you want to destroy the old to replace it with something else , bloating the currency is a clever way to get it done.
“They are not raising rates UNTIL 2023, IF they do it then . . . that’s the point Kaltbaum is making”
**************
Fed’s James Bullard said today: “We were expecting an inflationary impulse, but this has been more than what we were initially expecting”. So the Fed is already walking back Powell’s BS.
As I said to you yesterday the crapola about not raising rates until 2023 was “A flat out lie — and the Fed knows it.” The Fed’s positions are about as firm as jello.
Tapering and rate hikes will happen much sooner than they let on.
They’d better stop buying assets that are more needed to produce income for retirees who are not inclined to use annuities. Leave the mortgage market alone already! An 8 Trillion dollar balance sheet is tough enough to unwind without pain.
Going to be tough sledding ahead for retirees. Very hard to keep up with inflation (and rising taxes) without moving out on the risk spectrum.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.