Posted on 08/25/2023 8:27:50 AM PDT by CFW
The U.S. Federal Reserve may need to raise interest rates further to ensure inflation is contained, Federal Reserve chair Jerome Powell said on Friday in remarks that balanced declines in the pace of price increases over the past year with the surprising overperformance of the U.S. economy.
Powell said Fed policymakers would "proceed carefully as we decide whether to tighten further," but also made clear that the central bank has not yet concluded that its benchmark interest rate is high enough to be sure that inflation returns to the 2 percent target.
"It is the Fed’s job to bring inflation down to our 2 percent goal, and we will do so," Powell said. "We have tightened policy significantly over the past year. Although inflation has moved down from its peak—a welcome development—it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective."
In that context, recent data has raised a new concern, he said.
(Excerpt) Read more at freebeacon.com ...
The party is almost over.... last call......
A NO mention of WHY inflation is occurring. Idiots.....
Hyperinflation ahead. Merge left.
....says the fed.
Huh? Butt butt, butt......I coulda sworn bidenomics was making up for the minor inflation we’re seeing. If there really is any. 🤔 /S.
What is this “overperformance” of the US economy of which Federal Reserve chair Jerome Powell speaks? Reducing the purchasing power of the US dollar by some 17% is not “overperformance”, it is a shuffling of cards in a con game of three-card monte, a sucker bet.
Roulette wheels are more honest.
Markets flip him off. DOW up 200 points. lol
I just heard that dumshit Powell speech in Jackson Hole where he blamed the pandemic and increaed demand for the inflation. What a scumbag! It’s all due to Biden killing our energy industry and Biden squandering billions on his filthy global warming projects.
Inflation will never get back 2 % with this big spending Communist in the Whitehouse..
Market up to take profits on the Monday down. See tagline.
The “experts” (think Paul Krugman) that the financial news-sites consult for “informed” opinions keep telling us the current economy is the best ever in the history of our nation. Who are the suckers who believe such drivel?
Racism. Climate change. The 2A and gun owners. The unvaxxed. White conservative males. Trump.
Powell sounds just like the Ukraine offensive.....never ending and goes on forever
But but but Biden and his people told us inflation was down because of Bidenomics and the Inflation Reductiom Act. How can it be too high? Did Biden and his people lie to me? Say it is not so! /obvious sarcasm
” and it will likely require an economic slowdown to deliver it.”
The fantasy of a “soft landing” was by and for people who do not understand how very large economies work.
Until people don’t have enough money to buy everything they want...in the macro sense...inflation will continue apace.
Businesses have to fail. Homes have to go unsold. Personal bankruptcies have to accelerate.
Omigosh. I must be so-o-o guilty.
They say there is race, and I use their words. Guilty.
They say the climate changes -- duh. I agree. Guilty.
They say "gun owners." I've several. Guilty and guilty and....
They say unvaxxed. Yup, guilty.
They say, white *which is 'race," and "conservative" so yea... Guilty, and guilty. Male too. Guilty as charged.
Trump. Yea, I voted for him. "Damn" (in a Will Smith in Men in Black voice), I am so-o-o-o guilty.
“Many Black Americans don’t like Bidenomics. Here’s why the Biden White House is worried”
Yeah, well very few caucasian Americans are impressed by it either. The only ones I see exclaiming their love for Bidenomics is the Biden-bots and the politicians and politically-connected who are sucking the money straight out of our pockets.
Interest rates in the US run in 40 year cycles. From 1940 to 1980 they went up. From 1980 to 2020 they went down. From 2020 to 2060 they should go up and up and up especially with all of the ever-increasing de-dollarization going on since dollars flooding back to the US causes inflation.
We are not serious if we don’t stop printing and spending.
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