Sims said:

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Logos Stick said:

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Agthatbuilds said:

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I heard it on a news ticker on npr

Quote:

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Atlanta Fed President Raphael Bostic for instance said he sees a single rate cut this year in the fourth quarter.

"Given that the U.S. economy has been so robust and so strong and so resilient, I can't take off the possibility that rate cuts may even have to move further out," Bostic said in an interview with Yahoo Finance on Tuesday.

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If they cut rates in Q4 with inflation above 2%, you will know Powell is a ****ing Marxist pig just like Biden. Period. There is absolutely no way to justify cutting rates!

He's already reversed himself and is adding money to the money supply by buying treasuries. You don't do that if you are trying to stifle inflation.

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You gotta remember he's probably got a superior view into the condition of the banking system as one of the main bank regulators in the country.

They're surely tracking the number of banks that are in really bad shape. Given the fact the BTFP has expired and CRE issues seem to be looming - there is a chance that he may have to drop rates to avoid (or in response to) those banking issues as to not cause a cascading failure.

At the end of the day, the Fed has become too much of a key player in the financial markets and my interpretation is that is something Powell is trying to get away from - both in his rate policy and in furthering implementation of Basel 3. Now if he gets punched in the nose with a series of bank failures, he's going to have to respond and that will either take the form of rate cuts or another discount window. Either way just postpones the necessary destruction that needs to take place to heal our economy.

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I would think the banks with a bad portfolio of older bonds would have already taken the hit. We did see a lot of that manifest itself earlier. But OK, lets see how it plays out.

America is run (in the ground) by a handful of elected officials, others that are appointed and employees known as bureaucrats. Do we still have a Congress? The one that we have is run by few congressmen and Senators who tell the others what to say and how to vote. ___ I'm convinced that costly compliance with burdensome regulations imposed on businesses by bureaucrats contributes to inflation (higher prices.) This mess is on gov.

Logos Stick said:

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Sims said:

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Logos Stick said:

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Agthatbuilds said:

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I heard it on a news ticker on npr

Quote:

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Atlanta Fed President Raphael Bostic for instance said he sees a single rate cut this year in the fourth quarter.

"Given that the U.S. economy has been so robust and so strong and so resilient, I can't take off the possibility that rate cuts may even have to move further out," Bostic said in an interview with Yahoo Finance on Tuesday.

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If they cut rates in Q4 with inflation above 2%, you will know Powell is a ****ing Marxist pig just like Biden. Period. There is absolutely no way to justify cutting rates!

He's already reversed himself and is adding money to the money supply by buying treasuries. You don't do that if you are trying to stifle inflation.

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You gotta remember he's probably got a superior view into the condition of the banking system as one of the main bank regulators in the country.

They're surely tracking the number of banks that are in really bad shape. Given the fact the BTFP has expired and CRE issues seem to be looming - there is a chance that he may have to drop rates to avoid (or in response to) those banking issues as to not cause a cascading failure.

At the end of the day, the Fed has become too much of a key player in the financial markets and my interpretation is that is something Powell is trying to get away from - both in his rate policy and in furthering implementation of Basel 3. Now if he gets punched in the nose with a series of bank failures, he's going to have to respond and that will either take the form of rate cuts or another discount window. Either way just postpones the necessary destruction that needs to take place to heal our economy.

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I would think the banks with a bad portfolio of older bonds would have already taken the hit. We did see a lot of that manifest itself earlier. But OK, lets see how it plays out.

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The debt wall started last year, but that was a trickle. The amount of loans coming through later this year through 2026 is enormous.

And BTFP thrust enough free money into banks to give them a cushion. That's why the final week of the BTFP was hit like a crack pipe. It stays on the balance sheet for a year.

Logos Stick said:

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Agthatbuilds said:

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I heard it on a news ticker on npr

Quote:

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Atlanta Fed President Raphael Bostic for instance said he sees a single rate cut this year in the fourth quarter.

"Given that the U.S. economy has been so robust and so strong and so resilient, I can't take off the possibility that rate cuts may even have to move further out," Bostic said in an interview with Yahoo Finance on Tuesday.

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If they cut rates in Q4 with inflation above 2%, you will know Powell is a ****ing Marxist pig just like Biden. Period. There is absolutely no way to justify cutting rates!

He's already reversed himself and is adding money to the money supply by buying treasuries. You don't do that if you are trying to stifle inflation.

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Fed speakers will never use as concise and strong language as we'd like but Powell's statements today at the Washington Forum on Canadian Economy seem to point in the direction of very little chance you get a rate drop prior to the 2024 election*

*Unless something in the banking system or bond market fails

Ellis Wyatt said:

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I've been telling y'all that the Fed will cut the rate closer to the election. You damned well better believe they're going to try to help Biden.

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My understanding is that for decades going back to the 80s and before, the fed has adopted election year policies that would tend to buoy the current President.

Biden. Yellen. Powell. No confidence!!!

How does O'Keefe get these idiots to talk? Is this a Tinder date with a hot chick?

Also, my concern is that Powell will make everything rosy prior to the election. Whoever wins, the fed takes a turn to douse the heating up economy with cold water (interest rate hikes again or whatever tools the feds have), and we're all broke.

I'd bet that he'd do double duty on dousing the US economy with cold water if Trump wins (which he won't. Search for "mail-in ballot harvesting" for details. Search on DuckDuckGo not Google as it is likely suppressed on Google already).

Lies Lies Lies.

Our country is gone.

99.7% chance you'll get through this Jerome.

Stay home. Stay safe. Take you time in beating this thing. The imminent collapse of the global economy will still be there when you get back.

Stat Monitor Repairman said:

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At what point will Millennials and Zoomers come to the realization that the relentless pursuit of Trump over the past 9-years has shaved decades off their future quality of life?

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Gen Z is polling better for Trump right now. Horrible signs for Dems all over with minority and youth blocks. Finally a generation that might be overwhelmingly conservative

Logos Stick said:

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AtticusMatlock said:

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Trump was openly pushing the Fed for negative interest rates when he was in office.

But yeah, let's chalk up to any pushback against that insanity as a strictly political action.

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Trump was upset that Powell was raising rates when there was no threat of abnormal inflation. Yet Powell went full bore ahead.

Under Biden, Powell saw inflation heat up and did nothing on rates for months.

Why the different approach?

I think Powell is compromised. He's an insider.

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Rates were abnormally low for way too long post financial crisis. By 2014 the rates should have been at 3-4%, but they were still at near zero for no reason whatsoever until 2016 other than to drive cheap money into the hands of stock market and hedge fund investors. By July 2019, the actual rate was 2.4%, still way below the average.

During the Trump admin, Powell was trying to get back to a historically normal rate average. Trump didn't want the economic side effects of it and major hedge fund / corporate types still wanted the cheap money printing going brrrrrr. Trump wanted interest rates reduced below zero which was insanity. Powell said no. This cheap money and the insane deficit spending under Trump was contributory (Biden made it worse) to the inflation we are now seeing.

The Fed has two sometimes contradictory objectives: employment and inflation. Coming out of Covid, unemployment was high and so was inflation. How do you adjust interest rates in that scenario?

Some of the inflation was widely viewed as transitory as supply chains were being rebuilt and coming back online, but this process lagged and ended up being more expensive and more inflationary than previously thought. Unemployment numbers slowly improved but underemployment became more of a problem. The Fed had to determine whether to raise rates and hurt employment and investment but hopefully cool inflation or leave rates low hoping for more investment and hiring. It's not an easy call and way more complicated than just calling it partisan politics.

At the same time, the huge Boomer generation was starting to pull more out of the markets and into more safe-haven investments (bonds, treasuries, land, residential real estate funds) to protect their nest eggs. Capital became more expensive and will be more expensive for the next several years. This either deters investment or makes end-products/services more expensive. It's inflationary, but something the Fed doesn't necessarily have tools for.

Gen Z males are more conservative. Females are the probably the most leftist they've ever been. These are the children of Gen X parents, who are more libertarian in mindset than any other generation.

Gen Alpha being raised by "everyone gets a trophy" Millennials are going to be pathetic.

I don't like Trump either, but what is the alternative..

jeremy said:

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Like like like.

This guy is an idiot. How can a grown man talk without saying 'like' every fourth word?

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Short sentences in all caps have proven pretty popular if written.

It makes sense when you realize it's an attack on the country.

Aggie Spirit said:

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I'm not buying the premise of the thread just because some self important Trump hating left wing nutball thinks he speaks for the Fed chair that TRUMP NOMINATED.

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Did you even watch the video?

If Trump wins these are the type of bureaucrats that need to go. His job is to run the Fed the best he can for the betterment of the economy and nation. We don't need him to "hold the line" against a political opponent.

Next time around we go back to the gold standard. No more fiat money. A hard pill to swallow but history tells us all about the final chapters of countries who just printed paper money as fast as they could.

History? We don't learn from history or anything else for that matter. Government serves itself, not people.

Logos Stick said:

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Per this undercover video. He literally says that in the video.

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No he doesn't, this is a video of lib economist giving an opinion, not Powell himself. Quit making things up.

WBBQ74 said:

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Next time around we go back to the gold standard. No more fiat money. A hard pill to swallow but history tells us all about the final chapters of countries who just printed paper money as fast as they could.

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Never happen. You will get a CBDC that is still backed by nothing that will have the added features of locking you out of society at the push of a button.

Hell, we have many Democrats just this week imploring Biden to implement price controls for food.

Democrats openly begging for Soviet top down economic policy.

You guys aren't getting it. I said NEXT TIME AROUND, which was my way of saying after the USA implodes or we finally get an Article V Convention, i.e., Constitution 2.0. The Bank of the United States was killed off twice in the first 50 years of America. It came back as the FED in 1913 along with other Wilsonian mischief. Nixon's real crime wasn't Watergate - that was petty politics. FDR started it with his 'Bank Holiday' in 1933 soon after his inauguration, which outlawed possession of gold coins and added 20% more paper money over the weekend. Nixon's crime was to formally take the USA off the gold standard in 1971 and ushering in the era of fiat money. When politicians can print money at will then we are on a dead end road to destruction. Maybe in my lifetime, maybe not, but it is coming.

Fed isn't dropping rates, anytime soon