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VIDEORemember transitory inflation? Many of the so-called economic experts predicted earlier this year that the rising rate was strictly temporary or "transitory" as they assured us. Listen to the experts they told us. Well, the "experts" were proven WRONG yet again.

NBC’s evening news show had the gall to ignore a narrative-shattering statement on inflation by former “transitory” apologist and Federal Reserve Chairman Jerome Powell during its evening broadcast last night. Powell stated during a press briefing Dec. 15 that “[O]ne of the two big threats to getting back to maximum employment is actually high inflation.” This is a seismic shift away from the Powell Fed’s repeated false assertions over this year that skyrocketing inflation would only be temporary. The Fed is expected to institute thee rate hikes in 2022, according to Bloomberg News. In response to Powell’s statement, Raymond James...

Five Democratic senators have told the White House they won't support Saule Omarova to head the Office of the Comptroller of the Currency, effectively killing her nomination for the powerful bank-regulator position.Why it matters: The defiant opposition from a broad coalition of senators reflects the real policy concerns they had with Omarova, a Cornell University law professor who's attracted controversy for her academic writings about hemming in big banks.Their opposition also hints at a willingness of some Democratic senators to buck the White House on an important nomination, even if it hands Republicans a political — and symbolic — victory.Republicans...

Sens. Sheldon Whitehouse (D-R.I.) and Jeff Merkley (D-Ore.) are urging President Biden not to nominate Jerome Powell to serve another term as chairman of the Federal Reserve, warning that his refusal to use the Fed to prepare the economy for the impact of climate change is a major problem. The Democratic senators join Sen. Elizabeth Warren (D-Mass.), who are trying to steer Biden away from Powell, who was appointed chairman by President Trump, and toward picking Lael Brainard, the only Democrat on the central bank’s seven-member board. “Jerome Powell refuses to recognize climate change as an urgent and systemic economic...

With President Biden reportedly reappointing Jerome Powell to a second term as Federal Reserve chair and make Lael Brainard as vice chair, he will have an opportunity to meet with them privately. So why am I suggesting Biden should do what no other U.S. president has done and indicate that he wants the Fed to raise rates in an election year? To be sure, throughout the Fed’s history, the opposite tack has been more common: Presidents Johnson, Nixon and, most recently, Trump all jawboned the Fed to keep interest rates low to support the economy and their reelection prospects. The...

With inflation at its highest point in three decades, the Federal Reserve is set this week to begin winding down the extraordinary stimulus it has given the economy since the pandemic recession struck early last year, a process that could prove to be a risky balancing act. Chair Jerome Powell has signaled that the Fed will announce after its policy meeting Wednesday that it will start paring its $120 billion in monthly bond purchases as soon as this month. Those purchases are intended to keep long-term loan rates low to encourage borrowing and spending. Once the Fed has ended its...

Federal Reserve Chairman Jerome Powell sold between $1 million and $5 million in stocks at the beginning of October 2020 — a month that turned out to be the worst for Wall Street since the beginning of the COVID-19 pandemic. The transaction, which is noted on a public disclosure form Powell signed off on in May and was first reported Monday by The American Prospect, is an uncomfortable echo of activities that led to the recent resignations of two regional leaders of America’s central bank.... ...As Powell played the market, he was calling on Congress to pass a second COVID-19...

Republicans are signaling that they will help bail out Jerome Powell if he's renominated to lead the Federal Reserve amid opposition and skepticism from progressives. The burgeoning fight over who will lead the nation’s central bank comes as Powell’s four-year term runs out in February. Fed watchers anticipate President Biden could make an announcement in late October or November in order to set up an early 2022 confirmation vote for another four-year term. Powell has strong backers, including Treasury Secretary Janet Yellen. But he’s facing a curveball in the form of a stock trading scandal that has poured fuel on...

TOKYO – Asian policymakers have a Jerome Powell dilemma on their hands. And it could be a bigger one than they realize. Though the region has enormous stakes riding on US President Joe Biden’s policy mix, it’s Chairman Powell’s decisions at the Federal Reserve that will have the greatest impact on Asia in 2022 and beyond. That is, assuming Powell gets another term as the globe’s most potent central banker. Powell’s term expires in February and Biden is under growing pressure from Democratic Party progressives to name a more activist Fed head. That should worry a region that holds the...

A new report by The Wall Street Journal blew apart the liberal media narrative that spiking inflation under President Joe Biden would only be a temporary issue. The Journal reported that “Americans should brace themselves for several years of higher inflation than they’ve seen in decades.” The assessment was based on the newspaper’s survey of economists this month. On average, respondents are now expecting “a widely followed measure of inflation, which excludes volatile food and energy components, to be up 3.2% in the fourth quarter of 2021 from a year before,” The Journal said. In addition, “They forecast the annual...

CNN acted as an echo chamber for Federal Reserve Chairman Jerome Powell as he tried to spin that “profound challenges” to the global economy are coming due to climate change. CNN Business Lead Writer Matt Egan’s pro-Powell story led with a puff headline: “Fed chair Powell warns of 'profound challenges' posed by climate change.” Egan propagandized that Powell “acknowledged serious risks the climate crisis poses to the world economy and called for a coordinated response that is led in the United States by elected officials.” Powell reportedly told the climate-obsessed Green Swan Conference June 4: “‘There is no doubt that...

Fed Chairman Jerome Powell said he worries about the long-term impacts from the coronavirus pandemic. Specifically, he cited women out of work involuntarily, children whose education is suffering and small business owners who have lost “generations of intellectual capital.”Speaking at a European Central Bank forum Thursday, he said “we’re not going back to the same economy.” Federal Reserve Chairman Jerome Powell said Thursday he worries about women, children and business owners who face long-term consequences from the coronavirus pandemic. Asked to name his chief concerns as the world tries to recover from the Covid-19 crisis, Powell said it’s “the risk...

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.

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 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...

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...

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...

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...

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...

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...