Here's what came out of the Fed meeting
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- Опубликовано: 1 июн 2024
- CNBC's Steve Liesman takes a closer look at today's Fed meeting. With CNBC's Melissa Lee and the Fast Money traders, Steve Grasso, Guy Adami, Karen Finerman and Tim Seymour. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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The economy is addicted to super low rates. It simply cannot thrive in a high interest environment. We have seen this in 2018 when there was talk about 'normalizing' rates, which came quickly down in 2019.
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Recessions are a natural occurrence in an organic economy. Stop artificially manipulating it on both sides of the equation.
3:23 the top right and top left guys made the exact same expression at the same time :)
Steve Liesman is for the people, Karen is for the Business Market.
The market would have freaked out if they did 50bps. Thank god they did 75
50 Point lead to super high inflation or 75 points goes to bad recession. Both are toxic pill now Just die slowly or fast
.75 isn't good news in any shape or form. Get with it
Yah .75 isn’t good. They should have 200bp or 300bp. How about we just do 10bp each quarter?
Powell has blown his inflation reading for over a year and allowed inflation price/spiral to get hold.
Today I bought yogurt and I asked the worker about prices….in last year the price of medium went from
7.00
+ .25
+.25
+.50
And they are about to raise prices again.
Don’t you realize that those employees are asking for raises? Because there has been no turnover at this store. So the owner has likely given a bunch of pay increases to retain his staff.
Powell should be fired.
Powell is like an employee who shows up late to work, he’s rude to staff and customers, doesn’t lock the doors at night, embezzles from the company, and steals from the cash register.
Powell has done just about everything wrong that he could possibly do as an employee. And yet he’s allowed to stay on the job….
Fire Powell Today
Why? How does .75 get us more oil?
@@Jon-br8co Pretty soon we will have more oil than needed, once the economy tanks!!!
I do not understand why these experts keep debating the possibility of a recession. The recession is here already with 1st Quarter negative 1.5% growth and 2nd Quarter may get uglier and the subsequent quarters may keep becoming more and more uglier. I don't understand whether they looked at today's retail sales report. It was negative. The outlook is becoming more and more gloomy by the day but they seem to be clueless. The more problematic thing is - the energy commodities and food prices are still keeping on flying in June. So, an uglier CPI for June may be on the cards. Layoffs are becoming a daily event in the economy. On the other hand, Fed is compelled to raise rates more and more knowing that the economy is moving into a deeper and deeper recession as CPI is keeping on flying. Real estate, tech, consumer defensive+discretionary, and auto industries are falling apart and keeping on laying off thousands of employees. Yet, these guys are debating the possibility of a recession, while a deep recession is already around the corner.
I couldn't agree with you more!! Some big banks and economists say they don't see a recession until 2023! Iwish I knew what they were smoking.
Notice how everything in CNBCs world revoles around the market which is gigantic casino on steroids!
90% of stock ownership is held in the hands of the top 10% wealthiest people in the US. The S&P 500 and the Russell 2000 are cap weighted....most of the earnings and price momentum are generated by 25% of the largest companies.
Tough times ahead are guaranteed and it's sheer lunacy to think the Fed can steer the economy with a computer keyboard!
@@turk5832 yes, whichever path Fed follows now is a crash landing. If it becomes Paul Volcker they create a terribly deep recession and if they become dovish, they may trigger persistent stagflation, which is even worse. So, the crash landing has become the base case. The economists who still are not seeing a recession are maybe good at daydreaming. But, their absurd views do not matter as it is almost a consensus that Fed has no choice but to deliver a crash landing and all the passengers are going to be burnt. Brutal truth. People are suffering badly for Fed's and treasury's transitory assessment of inflation.
@@asifalamkhan873 Absolutely! The Fed is finally trapped. They've been painting themselves into a corner for quite some, kicking the can down the road and painting rosy landscapes for the economy...maybe denial, maybe stupidity, but always with tremendous arrogance and hubris!
@@turk5832 now they are radically changing their paintings with blood instead of roses
I’m still concerned with the volatility in the market, especially since we haven’t really seen the effect of the fed raising rates yet. Could be lots more pain down the road!
When the stock market is back up, you will wish to have invested today in the red. you may never see these prices again. There’s always opportunity within chaos you just have to got the eye for it.
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I didn’t understand this, I’m new here
Steve Liesman is goated! Much respect.
What about quantitative tightening? Why is that so little talked about.
Because that’s less of our money for these oligarchs to hand out to each other. They have the microphone my friend, their interests will be discussed and quantitative tightening is not beneficial to them
A fed funds rate of 1.75% with inflation at 8.6% won’t slow down inflation
They need to get up to double digits to nail down inflation. They let it get away from them. This is identical to what happened in the 1980s. The only difference between then and now is that back then household dept was nothing and income levels were growing. Now debt is at such astronomical levels with wage growth next to nothing. They are going to cause a depression trying to tamp down inflation. At the current trend they will most likely announce inflation above 10% by next month.
Wont need to oil is propping it up and look at oil it’s going to 100 per barrel, seasonal
@@harrisonwolff7611 It's not just oil. It's about supply and demand. As there is no supply as they have issues with supply chain management and China keeps locking down cities due to the virus the world is falling short of goods and parts for their goods that China produces. Regarding oil though, I'm surprised that the US is making deals with Iran instead of simply renewing the permits the former administration had to keep the US energy independent. Big mistake on their part to not renew these permits when they came up for renewal. I guess they do it as they need to appease the members in their party who are holding the party hostage.
Bruh that dude just kept blinking in the corner like a robot.
At 1% the inflation rate went up. What makes you think that gradually going up at 0.75% will put us at 4% by year end?🤣🤣🤣
At the current trend inflation will be at 15% by Christmas. Yellen will come out and say sorry again and the FED will raise their rate up to high single digits. We're going to see mortgage and lending rates up in double digits by early next year.
@@gabrieledibernardo2488 You know, I can't tell if you are trolling and that's concerning.
Supply opens up. Maybe the house and senate can get oil pumping.
@@edrosales1520 Not trolling. As of this month (June) it's at 9%. There are still 6 months to go. The only way to tamp down inflation is to get on top of it and stop it's climb. At 75 basis points per month they are so far behind this thing they are only chasing. They are now saying 3.4% but it's going to change. Just like with everything they're treading carefully. I think we're going to see inflation hit 15% by Christmas. These food shortages and high oil prices and increased cost of goods are going nowhere for a while.
Raising interest rates will not produce one gallon of gasoline.
Karen is right. Extending this cycle is not good
3:30 Melissa's reaction lol
A normally functioning economy with the middle class leaving unaffordable rents for living in vans? What is wrong with Steve? It’s already a recession for the poor and middle class. Truck drivers are walking away from their jobs because it doesn’t make sense to work for a loss.
We had high prices before the rate hike, we'll have even higher prices after the rate hike and soon we have massive unemployment on top of high prices. When all we needed was increase in oil production from OPEC and China to start producing products. In other words, just time and negotiations with our neighbors. Yeah, we're definitely going into recession and a painful one at that.
World. War. III.
Recession ...That's because you can not use the "D" word any more
OMG! it's Jessie Ventura's brother, Messy Ventura!
How did the same work out for Jimmy Carter!!!
Recession is good? Where did she get her professional qualifications?
Thanks Steve and the gang you guys are doing a great job.
HOW??
Steve just proved again that he is clueless.
What about Main Street????????????
A combination of China's shutdown status and global energy market supply/demand(nevermind the gouging) can dictate fed policy. What could go wrong?
I like how Mel wears different bold colors on the set.
Powell seemed out of control of the situation. He's also making more whoppers than Burger King. Credibility is a real problem now after he comes back with 75 after just 30 days earlier saying that was off the table. When asked about QT he punted and his answer about r/e and unemployment was ludicrous.
Yep. And for some reason the market still seems to trust what he says even though he's been wrong over and over again. Proof that the market is insane by that well known classic definition...
everyone who has sold/shorted in hopes for a recession is rooting for one so they can profit from it.
Steve…..I cannot understand?
Powell dragged his feet for over 1 year on fighting inflation, and today in your reporting you defend Powell as “taking out the shears”. Powell has been just about as meak in his response as possible And today and one point Powell looked dejected and ready to cry.
And I’m sorry to say that today, your comment was in line with Powells meager response. Powell had a major part in creating the high inflation we have by buying bonds for years too long, buying mtg bonds for years too long, ignoring a growing inflation problem for over a year, and not pushing back on Biden pumping money into the economy.
Today, Powell and you both said something that is 100% false. The false statement is that raising rates cannot affect energy and food. All inflation is a problem of too much money and too stimulative of policies. We have imported more goods and services than ever before! The port of Long Beach, as reported by Biden last week, has unloaded more stuff than EVER BEFORE. Slowing the economy will lessen demand for all goods, including energy and food.
I know you know this, but the issue of scarcity is lost on both you and Powell in your reporting today. All inflation is a problem of supply, as it turns out the properties of the real world and scarcity still are in effect. We cannot produce unlimited products or pump unlimited oil. The US has printed WAY too much money and crashed the system.
You will clearly support Powell stopping the fight against recession early if the data shows a weakening economy. Or to not have increased unemployment or recession. That is clear from your comments today. But the other side is an ever growing growth in prices. But I guess you don’t care as long as stock prices don’t go down, or so that Biden can look good. Employees will not get raises from employers as fast as prices rise, and those people cannot get new jobs constantly.
On the panel discussion today when your cohosts pushed back in the upcoming recession, you felt that avoiding recession was better than fighting inflation aggressively.
We need 400-500bp at a minimum and probably 600bp if we want to get above core and truly stop increasing prices.
Steve you attempted to engage in misinformation today, and ignored basic economic principles….bad showing.
Powell is incompetent, too soft, still believes that inflationary is transitory, and….
Powell must be fired….please include that in your reporting .
Energy independence is key
What is Steve taking about...she is right
Where is Peter Schiff lol
It's not a sledge hammer, it's not a bulldozer... it's a wrecking ball. You won't contain inflation unless you stop uncontrolled government spending (fuel for the inflation fire). Look for many huge rate increases over the next 2 years.
Stagflation on its way people
so high gas prices increases transportation costs, those higher transportation costs are passed onto the consumers. will raising federal interest rates cause high gas prices to drop? it might slow down people driving/flying and reduce oil demand....
Wont do much tbh. Those prices are going to remain high as long as the Russia war is ongoing and the middle east and other sources don't increase supply.
Inflation is a measure of a rate of change. Cutting inflation by 50% still means that our prices go up ‘4%’
Inflation may slow but my HAIR will never return..
The markets are been propped up by the FED printing money with NO limit. Every time the Market blips down the FED dumps cash into the dip. Tbh I'm in need of a good investment plan currently, I have a lump sum of $300k+ in a savings account yielding next to nothing
Been a crazy year 2022 and next year isn't looking any better. But it's sad that whenever something big goes wrong, a lot of people panic and hold on to money that should be working for them. Having monitored my portfolio performance return huge six figures from the last 2 quarters, I have learned why the market will remain a money den for those who know where to look. Get a help
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@@Robertgriffinne I give her the credit. literally bought my house last year because of her. she was the reason why I got into TSLA and cryptocurrencies few years ago. This is only a recommendation BTW so it's still your choice. Cheers!
You wrong, you already have less than that. You better convert it to gold or silver or some land before most of it is gone FOREVER!!!
There’s 2 band-aids. Do you rip it off quickly or do you pull it off slowly? There’s no right answer.
If the cut under the band-aid is Wall St, then Karen rips it off quickly. If the cut is both Wall St + Main St, then Steve pulls it off slowly.
Well... the biggest lesson here folks ... is about when you're (a man) talking and you see a woman raises her hand, you immediately shut up and listen to her 😁
These guys said the quiet part out loud... they are concerned woth the markets, not the consumer... we are screwed..
Housing is slowing.
Fed wins
Karen totally missed the point
What's wrong with Guy the last few days? Doesn't seem his normal self.
Rich people telling everyone recession really doesn't matter much to them
A soft landing is reigning in inflation while technically reaching a recession by definition but being so mild that it minimally impacts main street (employment rates).
Need to kiss and make up with Mr. Putin. That will a go long way on bringing prices on food and energy down!
Vlad is busy burning the wheat fields while Nancy Pelosi parades around with RuPaul.
Need to eliminate him
I'D BET WE SURE MISS THAT RUSSIAN CRUDE OIL 50, 000,000 A MONTH. THANKS 😌 J.B.
Oh yeah, that inflation that started spiking in April 2021 is totally because of Putin's Ukraine invasion almost a year later. Time machine!
How does Steve know what Karen means? He thinks he is the great fed translator. What they mean by their tone, how about say what you mean and mean what you say.
Can’t wait to buy AMZN at $75.
3.8 max Fed rate, that’s going to quell this inflation rate 8.6 and its breadth? Good luck. 👍🏻 if it was transitory maybe but there’s no precedent for that.
Nice opinion bowl.
Has the demand been above trend lately? It isn't about whether this will cause a recession or not. We need a period of slower pace to redeploy available resources. Too much assets have gone to unproductive places in recent years
Assets have gone everyplace. Watch.....as soon as I inflation moves down everyone will jump in. You'll see the fastest recovery in history. There's money in piles on the sidelines dieing to get back in the market.
The SQUEEZEEE gonna last.
We need more smarter retail investors.
BUY LOW, TRIM HIGH AND STAY IN THE MARKET! Do it all over again!
IGNORE THE NOISE!
The notion that you can raise rates from 0 to 4% and not go into a recession is laughable. At 4% marginal demand is destroyed...especially coming off of ZERO percent. And then at 4%......let's see, 30 trillion in debt at 4% is 1.2 trillion!!! Where does that money come from? That's like more than 25% of tax receipts. And that's just federal debt...what about state and municipal etc. Do we raise taxes or do we decide to print that too? There is no way out
Steve - Inflation is permanent. Prolonging it makes it worse for main street in the long run.
They try to conflate the inflation *rate* , which can be temporary with the weakened dollar, which is permanent.
she's ok with recession because she's rich
I c a difference could b just me but I feel $1200 doesn't come close to a trillion...might just b me.
Almost understand inflation
joey diaz of economics
Stagflation coming folks.
Nope
Gas prices control tje price of everything as long as everyone needs it yet
They should have done 200 bps.
I wish they would have done 200 it’s time for America to fall and fall hard
Please get some people on your show who actually know what they are talking about.. Not this bunch of Muppets
Well it's nice to see some action but for most people we have entered Darwin economics.. we must learn how to adapt.
So recession is basically the same thing as sanctions like on putin. And we the American people are punished for Wallstreet
Who wants a recession??? You want to avoid the cause of the problem.. the inflation.
Steve Lies Man
garbage in garbage out, they are trimming the fat
cnbnc been so wishy washy. one video is i want 50, another i want 100, another 75
Recession looms when the 2 year rate crosses the 10 year rate why not control that with selective bond buying instead of this death spiral and killing job market with these crazy hikes.
75 basis points isn't "crazy". The fed funds rate went as high as 20% under Paul Volcker.
Oh course a Karen would want a recession
she wants to buy during a recession because she's heavy on cash...
Melessa is right and Steve wants to continue to live in lala land, his own words.
Some prices, like oil, don't look like inflation to me. Some of this is supply and demand. There's a reality of easy to pump oil supply isn't going to be able to keep up in the long term with demand. Less oil = more valuable. Eggs are up 100% but that's mainly due to avian flu killing flocks so eggs are in short supply. Homes look cheap compared to other countries.
And then the big one is workers. Labor has been changing for years. Truck drivers, construction and many other traditional careers are full of people nearing retirement age and young people are not willing to get into those jobs. IMO this is due to social media and a change in what women are looking for in marriage partners. A $100k/yr construction worker is looked down at by many women. They want status men. So young men aren't seeing these careers as viable. Plus there are now so many jobs that are much easier and pay as well. We may have to pay workers more in the future just based on their skills being in short supply.
These things look more systemic to me. Yes most of this is actual traditional inflation, too much demand. But maybe more is going on.
People are overconfident. No recession. Only Depression ahead together with WW3.
Buckle up and good luck
These guys don't have any strategy that's why they want a reset-sion to reset everything. Watch eventually these A holes will call for a depression.
Blame the pandemic stimulus
There is no way recession is good for the market.
I Like how he down playing the imminent recession , business are struggling as it is and there need to borrow to keep things going a .25 increase every 3 months cycles to bring the economy back is better the the .75 slam all at once and repeat a .75 slam in 6 months to keep us in a long term recession .
This is a direct cause of this Governments Administration
Bad policies.
She wants a recession? Why not a full on depression? We've been too rich for too long. Time to slim down, pull ourselves up from our bootstraps, and fight to survive. Better than the garbage nonsense we're living for these days.
Steve is right. forget recession
The Fed is still trimming around the edges. 🤣 they havent gone high enough or aggressively reduced its balance sheet!
They're still priming the engine and figuring out how to add the whacker line.
bruh, the market is sensitive af. If you go too hard, you're going to shock it severely. The Fed is trying to find a middle ground. Not as simple as it sounds, otherwise you wouldn't need a PhD to work at the Fed
These people are discussing the decline of America.
In this recession, there is a great chance of investing for many newbies ....
Steve Leisman’s lucky he has tenure. Because segment after segment, report after report, he’s in way over his head.
recession allows for further investment
Here's what came out of the Fed meeting................i just love this heading. What came out of the Fed...............Brandon's policies are failing Americans and making them broke at the pump and at the grocery store!!
Sell and short
you all can put your money in the market then we go into a recession.
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Time to eliminate the Asian reporter, she speaks about economics like a high school student
Lol lala land. That's right, 8% month to month inflation is like standing on the edge of the cliff as you are on the verge of hyper inflation in brewing process waiting for it to boil and create a mess as it spills all over the kitchen stove. I am sure there are other solution to make it work but nothing have surface yet.
Yea a recession would be great
We shall profit from the tenders we urn. Maxilary to God for me today. THE LAW, by that there is the will to be a public free from War. WOwmOM
Soft landing odds just improved.
When we pricing in donald trump winning in 2024
Money printing, NOT expectations, is the root cause of price inflation. No amount of hawkish rhetoric, or behavior, will change this fact. The horse is out of the barn.
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Clueless!!! As usual. The only guy that has a REAL idea what's going to happened is Guy Adami - I can see his frustration that these people are still not understanding the magnitude of the situation and the pain that the average American will be going through in near future!!!
This has been in the making for the past 40 years thanks to Trickle Down Economics...
Pain was coming no matter what...look at the national debt....
@@FLAC2023 Not only US, other countries are in the same situation, drowning in debt!!! We are coming closer and closer to the RESET!!!
@@mikek.9980 yes they have all followed the same policies unfortunately...
@@FLAC2023 Atlanta's GDPNow predicts 0% GDP for the second quarter.
CNBC - One Big Infomercial for Wall Street. The truth isn't part of their vocabulary.
Dog and pony show,all smoke and mirrors.
I'm raising my leg..🥸