The Federal Reserve Chairman are not political. If they want to serve another term and have credibility when they leave, they have to do what is best for the country and not the sitting President or either political party.
Inflation report
- Thread starter Boom Boom
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They're not supposed to be political. But we live in an era where everything is political so skepticism is warranted.
Of course it is they have excluded everything that is inflating
I really want interest rates to drop so I can retire. High interest rates effects Define Benefits Plans negatively. I will not be able to retire until that happens. I wish he would lower back to 2020 levels tomorrow but that isn't happening until the year over year gets to 2%. He is going to keep that as the base line. Powell is doing his job, but I think all the green energy policies are keeping energy cost up and that cost is being passed on to the consumers from manufacture. Also, go look at all the mandates and regulations that has been put in place by the Biden administration and it is mind boggling. Prices are not coming down until changes happens. I know the left hates supply side economic but that is how Regan got inflation down and cost of living down when he came into office. Constrict the money on consumers and losing money on manufacturing. They ripped the band aid off and it caused a recession, but it was short and over really fast, and things took off. Powell did the first part, but he can do the second. This crap from the bottom up and middle out isn't working. I am sticking to that. Also, the economy is not as good as you think. 30% of it is Government spending. It is not real, and the stock market is going to take a really big double adjustment. Everyone better be ready for it.
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Well, yeah. I'm not waiting for Uncle Sam to better my situation and I'm not expecting my individual choices to impact the nation's inflation environment but macro level inflation is precisely what this thread was about. I would like to feel good about my vote making it a little easier on folks that might need relief when there's been so many people yelling from the mountaintops about inflation after a global economic calamity. If it's issue #1-3 impacting our society (it is), then let's hear what the solutions are. If the solution is let the markets market and just deal with it, let's agree on that, move on, and focus on other things.
What are you talking about? You sound like Alex Jones. There’s no playbook for the monitory policy decisions in the wake of a once a century global pandemic. Slash rates, CARES Act, CARES Act 2.0, American Rescue Plan, Inflation Reduction Act. They’re pushing and pulling every button they’ve got. Trump appointed the current FED Chair. Is that the DeepState in action?*
The politics of this economy are WAY worse than the metrics. I think that’s a fair criticism. There is an amazing amount of on-shoring discussions happening on earnings calls right now. Investors track (literally) every word CEO’s say and it’s as common of a phrase as “AI”. That’s amazing. The international capital flowing into America right now is jaw dropping. Some of that is AI, some of that is the rest of the world being a shitshow; some of that is loose Gov $ flowing around, etc. But, I don’t think that’s helping people at the grocery store though which is making people pissy at Joe.
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The actual metrics of this economy sucks balls and that's why your boy is 25 points underwater on the issue. But I'm sure calling me Alex Jones will help remedy the situation.
“The guy Trump appointed at the FED is protecting Biden” is very Alex Jones-y.
That aside, Americans are setting records for “days spent aboard cruise lines” this year. Royal Caribbean is not far behind NVIDIA growth YTD. Again, that ain’t helping at the gas pump.
Honestly, how many people do you know who have lost their house in the last 6 months? 0?
Number one: Powell is slow playing economic mitigation. Indisputable. It's also an election year. Indisputable. You don't have to have an economics degree, let alone be a conspiracy theorist like Alex Jones to connect those dots.
Number two, people are running up credit card debt. Again, indisputable.
Number three, interest rates were low just three years ago. People aren't losing homes because most people have low interest rates. The impact on housing is a lot harder on young people trying to buy their first home. Economic pressure is coming from costs at the grocery store and the gas pump for most folks.
We all want interest rates to drop, of course. But we need better policy decisions. Biden's energy policies are a big reason why we are in this mess. His spending programs are another. It's putting us in a tough spot.
And yes despite the gaslighting from this administration and the media, the economy sucks. Yeah the stock market is up...it's inflated like home prices and milk prices and everything else. Costs are up at a much higher rate than wages and people are beating the brunt. GDP slowed almost to a standstill last quarter.
They serve for 4 years at a time and aren't fired. They serve in the position regardless of presidential ideology or party affiliation.
Even Trump accepted this. Despite constantly threatening that he could fire Powell in 2018, 2019, and 2020- he didn't try because he would have failed. He has threatened to fire Powell a bunch this time around too, if he is elected in November...and it will end up having been more of the same- just a bunch of empty threats to froth up the base.
Eh. It’s a catchphrase.
But it’s the bureaucrats who largely have the expertise.
Most of us have read the articles and heard accounts that there are only a very few legislators who are experts on different subjects.
I’d argue that the bureaucrats generally can do better for America than Congressman John Q. Bingleschmuck and his friends.
‘Economic mitigation’? We’re talking about cutting interest rates, right? Powell slow rolling rate cuts isn’t making any friends at the White House.
The markets entered the year expecting 3-4 cuts in 2024. That was down to around 0-1 in March / April. After today’s CPI report, we’re back up around two (Nov & Dec).
No he needs to be raising rates. That's my whole point. He hasn't been aggressive enough and that's why this is a lingering issue.
Kugler and Cook are new, a quick review of their bios doesn't tell me enough to know either way.
Barr is the definition of a centrist.
I'm not sure this is a winning message to people struggling to buy groceries: "Look at the stats!"
But this has pretty much been the strategy.
I hope it continues to be the strategy because it's red pilling the country.
There you go plagiarizing again.
Agreed. But what else can they do? And let's be real, it's not like most of these complainers would be complaining if Trump were in office, or that they won't stop if he wins even if inflation doubles in short order directly due to his tariffs.
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