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Keyword: powell

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  • Fed Chair Powell Speaks Today. Here’s What to Watch—and Why It Matters. [Pace of rate increases to slow in December!]

    11/30/2022 10:47:43 AM PST · by SaxxonWoods · 17 replies
    Barrons/Marketwatch ^ | 11/30/2022 | Jeffrey Bartash
    Federal Reserve Chairman Jerome Powell will have an opportunity on Wednesday to lay the groundwork for where the central bank is headed when policy makers meet next month—and he’ll likely use it to make the case for slower but steady interest rate hikes. In a speech Wednesday afternoon at the Brookings Institution, Powell is expected to reinforce the dual message central bank officials have been making for weeks: that the Fed is on track to ease up slightly on its pace of monetary policy tightening, likely slowing to a 50 basis point increase next month after four straight 75 basis...
  • Georgia voting equipment breach at center of tangled tale

    09/24/2022 6:17:41 PM PDT · by Beave Meister · 6 replies
    AP ^ | 9/23/2022 | KATE BRUMBACK
    ATLANTA (AP) — The tale of breached voting equipment in one of the country’s most important political battleground states involves a bail bondsman, a prominent attorney tied to former President Donald Trump’s attempts to overturn the 2020 presidential election and a cast of characters from a rural county that rarely draws notice from outsiders. How they all came together and what it could mean for the security of voting in the upcoming midterm elections are questions tangled up in a lawsuit and state investigations that have prompted calls to ditch the machines altogether. Details of the unauthorized access of sensitive...
  • Jerome Powell just warned that the US housing market needs a 'difficult correction' so that folks can afford homes again ⁠— but here's why it'll look nothing like 2008

    09/23/2022 12:35:01 PM PDT · by NeverCheney · 35 replies
    Yahoo ^ | September 23 2022 | Jing Pan
    Real estate investors have largely done well for the past few years. But with higher interest rates, things could be about to change. The U.S. Federal Reserve raised its benchmark interest rates by 0.75 basis points on Wednesday, marking the third such hike in a row. Higher interest rates translate to bigger mortgage payments — not good news for the housing market. But cooling down housing prices is part of what needs to be done to bring inflation under control. “For the longer term what we need is supply and demand to get better aligned, so that housing prices go...
  • Powell: Fed hikes will likely boost unemployment

    09/21/2022 2:03:28 PM PDT · by ChicagoConservative27 · 35 replies
    The Hill ^ | 09/21/2022 | Sylvan Lane
    Federal Reserve Chair Jerome Powell said Wednesday he expects the U.S. economy to slow under the weight of the central bank’s interest rate hikes to a point that could cause job losses. Speaking after the Fed issued another rate hike, Powell said the U.S. may be able to avert a full-blown recession but could not avoid hardship as the bank ramps up its fight against inflation.
  • Federal Reserve hikes key interest rate 0.75 percentage point, projects economic slowdown

    09/21/2022 11:53:10 AM PDT · by ConservativeInPA · 145 replies
    CBS ^ | September 21, 2022 | IRINA IVANOVA
    The Federal Reserve on Wednesday raised its benchmark interest rate by 0.75 percentage point and signaled it plans to keep rates higher for longer as it tries to douse red-hot inflation. The Fed's target interest rate is now in the range of 3% to 3.25%, the highest level in 14 years. The bank's rate-setting panel also projected that the Federal Funds rate would hit 4.4% by year-end, up sharply from a projection of 3.4% in June, and 4.6% in 2023, up from a previous estimate of 3.8%.
  • Trump wanted to name Sidney Powell as special counsel to probe 2020 election: court papers

    08/18/2022 2:21:15 PM PDT · by ChicagoConservative27 · 44 replies
    NYPost ^ | 08/18/2022 | Mark Moore
    Former President Donald Trump wanted to name Sidney Powell as the special counsel to investigate the presidential race, the former CEO of said in a court filing Thursday. Powell, a lawyer who helped Trump’s attempt to find fraud in the 2020 election, was in the Oval Office in December 2020 along with former Gen. Michael Flynn and Overstock’s Patrick Byrne to discuss the outlandish election claims, according to court papers filed in the Southern District of Florida. During the meeting, Trump and Powell discussed alleged FBI reports of “foreign interference” in the election involving SolarWinds and the hacking of...
  • I don’t think the U.S. is currently in a recession, says Jerome Powell

    07/27/2022 1:08:16 PM PDT · by ConservativeInPA · 70 replies
    CNBC ^ | July 27, 2022 | CNBC
    Federal Reserve Chair Jerome Powell answers questions after the FOMC decided to raise the federal funds rate by 75 basis points. Video at link
  • Jerome Powell’s Fed Pursues a Painful and Ineffective Inflation Cure

    07/26/2022 3:35:39 PM PDT · by dynachrome · 19 replies
    Wall Street journal ^ | 7-24-22 | Elizabeth Warren
    Higher interest rates won’t end skyrocketing energy prices caused by Vladimir Putin’s war on Ukraine. They won’t fix supply chains still reeling from the pandemic. And they won’t break up the corporate monopolies that Mr. Powell admitted in January could be “raising prices because they can.”
  • The End? Home Sellers Are Slashing Prices in Sudden Halt to Fed’s Stimulypto Boom (Dallas, Phoenix AZ And Las Vegas NV Seeing >20% Price Cuts)

    07/02/2022 9:12:22 AM PDT · by Browns Ultra Fan · 14 replies
    Confounded Interest ^ | 07/02/2022 | Anthony B. Sanders
    As The Fed raises rates in their attempt to wrangle inflation, we are seeing an about-face in the US housing market. The pandemic-related Fed monetary stimulypto begat a housing boom that is careening to a halt as the fastest-rising mortgage rates in at least half a century upend affordability for homebuyers, catching many sellers wrong-footed with prices that are too high. It’s an astonishing turnaround. Just a few months ago, house hunters felt pushed to make offers within days, waive inspections and bid way above asking. Now they can sleep on it and maybe even shop for a better deal....
  • Putin Not to Blame for US Inflation [semi-satire]

    06/26/2022 11:56:12 AM PDT · by John Semmens · 7 replies
    Semi-News/Semi-Satire ^ | 26 June 2022 | John Semmens
    In a Senate Banking Committee hearing this week, Federal Reserve Chairman Jerome Powell testified that "Putin's invasion of Ukraine was not a significant factor in the inflation we're now experiencing. Inflation rose from 1.4% in January 2021 to 7% by December of 2021. The invasion of Ukraine didn't start until February 24, 2022. So, it is clear that the biggest source of our current woes has been the excessive government spending unleashed by President Biden and Congress." Powell also warned of a "probable recession and stagflation." Stagflation is a phenomenon that features simultaneous high prices and economic recession. The last...
  • Bitcoin Rallies To $20k As Yellen Confesses That Inflation Will Remain High For 2022 (So, Monetary Tightening ISN’T The Answer??)

    06/19/2022 1:54:31 PM PDT · by Browns Ultra Fan · 26 replies
    Confounded Interest ^ | 06/19/2022 | Anthony B. Sanders
    US Treasury Secretary and former Federal Reserve Chain, Janet Yellen, admitted on ABC’s This Week that US inflation is “unacceptably high”and prices are likely to stick with consumers through 2022, and that the US economy is likely to slow down. “We’ve had high inflation so far this year, and that locks in higher inflation for the rest of the year,” she said Sunday on ABC’s “This Week.” “I expect the economy to slow,” she said, adding: “But I don’t think a recession at all inevitable.” US inflation accelerated to 8.6% in May, a fresh 40-year high that signals price pressures...
  • Winter Is Coming 2! Mortgage Rates Hit 6%, Gasoline Prices Hit $5, Inflation Continues To Rage (Taylor Rule Implies 22.10% Target Rate, Only At 1.75%)

    06/19/2022 8:27:40 AM PDT · by Browns Ultra Fan · 5 replies
    Confounded Interest ^ | 06/19/2022 | Anthony B. Sanders
    Where is Stanford’s John Taylor when we need him? Even since the housing bubble burst and ensuing financial crisis on 2007-2008, The Federal Reserve under Ben “The Savior!” Bernanke, Janet Yellen and Jerome Powell let their zero/low interest rate policies be too low for too long that anyone with common sense knew would lead to serious problems when The Fed was forced (this time by inflation) to end the massive OVER monetary stimulus. We are now living through The Great Reset of the US economy. Since Biden was sworn-in as President (or El Presidente) in January 2021, 30-year mortgage rates...
  • We’re Goin’ Down! Treasury Curves Goes Negative As Mortgage Rates Hit 5.87% As Fed Tightens Its Choke Hold

    06/14/2022 5:12:07 AM PDT · by Browns Ultra Fan · 29 replies
    Confounded Interest ^ | 06/14/2022 | Anthony B. Sanders
    We’ve goin’ down! The US Treasury 10Y-5Y yield curve has gone into negative territory (which usually occurs before a recession). At the same time, US mortgage rates are climbing like Tom Cruise in “Top Gun: Maverick” to 5.87% as The Fed tightens its choke hold on markets.
  • Closing Hell! NASDAQ Tanks -4.58%, 10Y Treasury Yield Spikes +22 Basis Points, 10Y-2Y Yield Curve Flattens To Near Zero (MBS Prices Pull A Titanic)

    06/13/2022 1:29:43 PM PDT · by Browns Ultra Fan · 71 replies
    Confounded Interest ^ | 06/12/2022 | Anthony B. Sanders
    Not nibbling on baby formula, watching gasoline prices soar. Wasting away again in Biden/Powellville. It was closing hell for a terrible day in markets as investors struggle to process the dreadful and seemingly endless inflation report on Friday. What happened today? The NASDAQ tanked -4.58% and the 10-year Treasury yield jumped 22.2 basis points. Gulp. The 22.2 bps jump in the 10-year Treasury yield has led to Agency MBS prices pulling a Titanic and sank. Somehow, I don’t think that Biden and Congress are going to help the middle class and low-wage workers.
  • EU reaches deal on ban of Russian oil imports, Michel says

    05/30/2022 3:24:20 PM PDT · by JonPreston · 27 replies
    Irish Times ^ | 5/30/22 | Naomi O'Leary
    The European Union has reached a deal to ban the import of Russian oil , EU council president Charles Michel said late on Tuesday. In a tweet, he said it would immediately covers more than two thirds of oil imports from Russia, “cutting a huge source of financing for its war machine”.A proposed exception for oil delivered by pipeline earlier edged the EU towards finalising the deal to sanction Russia and squeeze its financial ability to wage war in Ukraine.
  • German Inflation Hits 60-Year-High As German 10Y Bund Rises +9.4 BPS, US 10Y-2Y Curve Stabilizes At 25.8 BPS After Initial Fed Shock (Mr. President, Have Pity Of The Working Man)

    05/30/2022 10:15:13 AM PDT · by Browns Ultra Fan · 3 replies
    Confounded Interest ^ | 05/30/2022 | Anthony B. Sanders
    German inflation hit another post-World-War-II record high, piling pressure on The ECB’s need to exit from crisis-era stimulus after numbers from Spain also printed hotter than expected. Driven by soaring energy and food costs, this morning’s data showed consumer prices in Europe’s largest economy surged 8.7% YoY – far hotter than the +8.1% expected (the highest since the start of the monthly statistics in 1963). And top of that, the German 10-year Bund rate rose +9.4 BPS this morning, although Finland, Hungary and Slovakia all rose above +10 BPS. While US markets are closed today in honor of Memorial Day,...
  • Jay The Revelator! Mortgage Purchase Applications Plunge 12% WoW As Mortgage Rates Skyrocket (Purchase Apps Down 15% Versus Same Week A Year Ago)

    05/18/2022 10:59:22 AM PDT · by Browns Ultra Fan · 8 replies
    Confounded Interest ^ | 05/18/2022 | Anthony B. Sanders
    Jay the Revelator! He revealed that The Fed will not hesitate to keep raising rates until inflation comes down. Which means that mortgage rates may be rising. Mortgage applications decreased 11.0 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 13, 2022. The Refinance Index decreased 10 percent from the previous week and was 76 percent lower than the same week one year ago. The seasonally adjusted Purchase Index decreased 12 percent from one week earlier. The unadjusted Purchase Index decreased 12 percent compared with the...
  • Demolition Men! Gasoline Prices UP 85% Under Biden, Mortgage Rates UP 93.4% Under Powell

    05/14/2022 5:57:59 AM PDT · by Browns Ultra Fan · 32 replies
    Confounded Interest ^ | 05/14/2022 | Anthony B. Sanders
    I feel like we are in an economic demolition derby under Joe Biden and The Federal Reserve (with freshly reappointed Fed Jerome Powell at the helm). Under Biden, regular gasoline prices are UP 85%. The Biden Administration recently cancelled 0il-and-gas drilling leases in Gulf of Mexico and Alaska Coast, helping to drive up gasoline prices even higher. In the two-pronged attack out of Washington DC, The Federal Reserve is tightening their monetary policy in an effort to combat 40-year highs in inflation (caused by excessive Federal spending and Biden’s ill-advised energy policies), causing residential mortgage rates to soar 93.4% under...
  • Powell Sees More “Pain” Ahead, Admits ‘Soft Landing’ Is ‘Out Of Fed’s Control’

    05/12/2022 5:03:10 PM PDT · by blam · 17 replies
    Zubu Brothers ^ | 5-12-2022
    ,/A>Did Fed Chair Powell just jump straight from ‘denial’ to ‘acceptance’ on his journey through grief at the death of ‘transitory’ inflation? Speaking on MarketPlace Radio this evening, Powell said the central bank has both the tools and resolve to bring down rapid inflation — though he acknowledged that the path to lower price increases could be a painful one. Powell: So you can see that inflation is just way too high here in the United States. And by the way, the same all over the world, really, the global economies all around the world have been hit by a...
  • Senate confirms Powell for second term as Fed chief

    05/12/2022 12:03:41 PM PDT · by ChicagoConservative27 · 6 replies
    The hill ^ | 05/12/2022 | Sylvan Lane
    The Senate on Thursday voted to confirm Federal Reserve Chair Jerome Powell for a second term leading the central bank’s board of governors as the Fed scrambles to get ahead of high inflation. Senators voted 80-19 to approve Powell for another four-year stint chairing the Fed board, a position he was first appointed to by former President Trump.