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The Fed concedes that Trump was right all along
Fox Business ^ | September 04 2020 | Stephen Moore

Posted on 09/04/2020 3:40:56 PM PDT by knighthawk

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.

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


TOPICS: News/Current Events
KEYWORDS: federalreserve; jacksonhole; jeromepowell; stephenmoore; trump
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1 posted on 09/04/2020 3:40:56 PM PDT by knighthawk
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To: knighthawk

We are near a breaking point of being over leveraged. Do they have a crystal ball to determine how long this petrodollar will last? How about Medicare Part A going broke and demanding all kinds of funny money to replenish the coffers around 2026? Also, Social Security is facing huge shortfalls around one to two years after that. Where is that “wealth” coming from? This is fine if you are projected to die comfortably in a debt fueled retirement scheme within 10 years, however, like a pyramid scheme, the new people get screwed not by their own hand but by selfish and greedy people who voted for the scheme/irresponsible spending/debt accrual long before the new ones were born.


2 posted on 09/04/2020 3:55:45 PM PDT by rollo tomasi
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To: knighthawk

As if saving have not been losing value fast enough. This will destroy them.


3 posted on 09/04/2020 3:56:48 PM PDT by Revel
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To: Revel

Inflation at any %age is NOT GROWTH! It just looks like growth because bottom lines get continually larger numbers. Inflation at any level is purely government tax on money.


4 posted on 09/04/2020 4:27:30 PM PDT by arthurus (covfefe|. ho)
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To: rollo tomasi

You go ahead and grind your axe.....

My greedy ass has been paying in my whole working life... (no choice, you see) and my retirement age coincides with the collapse of the system.

Not only being shafted for being born at the wrong time, but also being subjected to the incessant WHINING of people who don’t want to contribute to the system at all.


5 posted on 09/04/2020 4:39:09 PM PDT by Hugh the Scot
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To: Hugh the Scot
A system needs to function properly to succeed, not play it by ear on the back of debt policies and degrading purchasing power which you and me have enjoyed all through are lives.

Do you have kids and grand-kids? Are we not suppose to be proper stewards for future generations?
6 posted on 09/04/2020 4:48:07 PM PDT by rollo tomasi
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To: knighthawk

oh, how very nice of the Fed to finally tell some truth.


7 posted on 09/04/2020 5:12:48 PM PDT by b4me (God Bless the USA)
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To: Revel

I have made over 9% in bonds for over 2 years. The T Bill basis just went up today as well.

NO, you can just put money in CDs. Its DUMB.


8 posted on 09/04/2020 5:24:55 PM PDT by BereanBrain (qu)
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To: arthurus

Totally agree. But the world seems to run on deception.


9 posted on 09/04/2020 5:29:02 PM PDT by Revel
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To: knighthawk

We need to get rid of this parasite.


10 posted on 09/04/2020 5:29:27 PM PDT by dljordan
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To: knighthawk; All
Fox Business says, “Trump may not be a trained economist“

Trump has a bachelor's degree in economics from the Wharton School of the University of Pennsylvania. What am I missing?

11 posted on 09/04/2020 6:09:26 PM PDT by newzjunkey (Vote Giant Meteor in 2020)
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To: knighthawk

$16 Trillion in debt is not the time to inject more liquidity into the economy.


12 posted on 09/04/2020 6:18:16 PM PDT by Yo-Yo ( is the /sarc tag really necessary?)
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To: knighthawk

I am surprised nobody has mentioned the endless media criticism of Trump for questioning the Fed before now that he admits Trump was right.

Will watch for that correction in 3, 2, 1, never.


13 posted on 09/04/2020 6:20:20 PM PDT by volunbeer (Find the truth and accept it - anything else is delusional)
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To: rollo tomasi

Bump


14 posted on 09/04/2020 6:49:22 PM PDT by lepton ("It is useless to attempt to reason a man out of a thing he was never reasoned into"--Jonathan Swift)
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To: knighthawk

Comment from the Fed; DAMN!


15 posted on 09/04/2020 7:08:41 PM PDT by kickstart ("A gun is a tool. It is only as good or as bad as the man who uses it" . Alan Ladd in 'Shane')
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To: knighthawk

He’s got four more years, they’ll have to have a come to
reality moment at some point.


16 posted on 09/04/2020 7:31:21 PM PDT by DoughtyOne (Some of the folks around these parts have been sniffing super flu.)
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To: knighthawk

Trump appears to have Powell by the short hairs. If he didn’t, his re-election would be in serious jeopardy.


17 posted on 09/04/2020 8:02:26 PM PDT by Mr. Jeeves ([CTRL]-[GALT]-[DELETE])
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To: newzjunkey

Wharton is not easy to get into. I am an MBA in economics, have studied with Art Laffer, and am continually impressed with President Trump’s grasp of macro, micro, and international economics.


18 posted on 09/04/2020 9:02:02 PM PDT by Bookwoman (And I am unanimous in that.)
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To: knighthawk

Moonman62 was right, too.

The key to controlling inflation is economic productivity. Fed policy should be neutral.

One good thing about the China virus is that it ended the Fed’s latest war on the economy.


19 posted on 09/05/2020 8:45:25 AM PDT by Moonman62 (http://www.freerepublic.com/~moonman62/)
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To: Mr. Jeeves

Trump appears to have Powell by the short hairs. If he didn’t, his re-election would be in serious jeopardy.

...

The Fed gave up their war on the economy because of the China virus.


20 posted on 09/05/2020 8:56:14 AM PDT by Moonman62 (http://www.freerepublic.com/~moonman62/)
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