Fed Chair says U.S. 'May Well Be In A Recession' As Coronavirus Pandemic Spreads | TODAY
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- Опубликовано: 24 июл 2024
- Joining TODAY for a rare and exclusive live interview, Jerome Powell, chairman of the Federal Reserve, acknowledges that “we may very well be in a recession, but I would point to the difference between this and a normal recession.” He says “there is nothing fundamentally wrong with our economy” and that the Fed will “aggressively and forthrightly” replace normal lending channels for businesses that have temporarily closed due to the pandemic. He says “there can also be a good rebound” and that the Fed is working to “ensure that it is as vigorous as possible,” adding that “the virus is going to dictate the timetable.”
#TODAY #TodayShow #economy #recession #pandemic #JeromePowell #FederalReserve
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Federal Reserve chairman Jerome Powell: ‘Nothing fundamentally wrong with our economy’ | TODAY
First rule of monopoly: The bank never runs out of money.
^ This exactly. The American economy is a joke. Working people will always lose the game when the other team can simply print money. You can't take that kind of double standard seriously.
No rational person can.
Exactly tax the working class while the rich get richer. Its genius
Donald Trump owns the FED now. X22 report.
I've broke the bank playing Monopoly before.
@@painkillerjones6232 WOW.....You're genius.
They say a recession is when your neighbor is out of a job & a depression is when you are out of a job...
Depression it is
@@ALCAN52 no its not. During the Great Depression the unemployment rate hit 23%. Worldwide GDP in the 30s fell 15% by comparison in 2008 only 1%. Right now the market (dow) is about 22,000 points and in 2008 it was 6,500. Market is rising as I comment. Also the 30s was in between the two major World Wars. Times are WAY different now concerning warfare, technology, science, medicine and politics. Stop the doomsday panic because y'all sound no different than apocalyptic religous nuts.
@@ALCAN52 Bingo! You win the internet. An intentional crash to hit the reset button and fully institute the Beast System.
Hu Kares is you have money in the market, and you’re an individual investor, it will go against you over time every time time and time again because it is obviously rigged. It not even close to a zero sum game.
coming soon, look at the unemployment figures how many more illegals with both parties bring into our country so they can take more of our jobs and throw more Americans on welfare?
He's not concerned with Trump's comments, because the Fed answers to no one...
Max Alt America NOOO one
Not a soul
except israel
except the Rothchilds
an international family of shareholders, who just merged the entire world..into their electronic grid:
it is this grid, who answers to no one.
"We serve the American public."
LMFAO
So much for free market... taxpayers money freely given to big corporate America
Yeah, say that to all the local businesses getting wrecked right now.
This is old news
That's what "free market economics" has always meant when it's come out of a politician's mouth. Free stuff and huge bailouts and tax deductions for the rich, and the rest of us get to fight for the economy's scraps.
Then switch to crypto
They want good little sheep that won't question their rights that have been taken, and will accept the scraps that they're given. 🐑👏
Jesus accepted his scraps too. Life isnt about what we have but who and how we eastbound down
Anyone that debates this is literally the problem.
Stand for Liberty: ruclips.net/video/18UF8W-nriw/видео.html
@@seattlefiorelli He also tells us to question what the world claims....to follow the leaders of our nations until they contradict His word. Open your eyes and ask for Him to save you from sin.
@@TH-rl3dm amen
Q: "How is this virus going to affect the American Money Game?"
A: "We are going to lose low-level players of the Money Game, and some guilds will assist other players."
Q: "Will this cause unfair nerfing of the Money Game?"
A: "No, high level players will continue to be honored at the expense of low-level players, as per the rules of the American Money Game."
Straight from the New World Order playbook: ruclips.net/video/18UF8W-nriw/видео.html
r/outside is leaking
Monopoly.
Lmao. Where can I download the Money Game?
An economy can be rebuilt, but without society ( Us) there is no one to rebuild.
Life over money.
Cruel reality of the world
Never heard that US is ever short of immigrants, just saying.
@@assassincelionel3500 im a bit lost...
I didn't say certain race's or nationality. (US) means human beings. Idgaf about immigrants, they are human too.
Anyone know how much recoverable oil is left?
Another word the fed can print as much money as they need....same as an unlimited money printing machine.
Aka yes a blank check haha. These people are ridiculous
The peso will have more value than the dollar soon 🤣
Walking In Truth & Knowledge I remember when Obama was present that money making machine was working double time back in 08.
Exactly why our system is obsolete
We are watching the house of cards come crumbling down and they're trying to hold it together.
That Is Not The Case Because There Will Be Inflations If The Treasury Prints At Will.
#ChampionShipStyleGoldenSupreme
#InChampionShipWeTrust
#GBFIRSTNYC
Mortgage payments and Rent payments need to be addressed!
They were foreclosures and evictions are suspended until end of April. U wouldn't know that cuz RUclips wouldn't want that to be trending. Nor would MSM tell u that.
Chicago suspended all evictions for a few months and if it gets really bad i don't think cities will evict people because where are you going to put them...
They have, it's called forbearance. Basically they stop the payment chain, take out a link or two, put them at the end, and use a strand of wire to fill the gap. No payments but interest still there.
@@mikes.7545 where can u find that info
@@kalatitati8795 just look up foreclosures and evictions suspended trump did this like 2 weeks ago.
The bubble will burst. Foreclosures are coming and this recent bailout will accomodate banks to buy cheap.
No they aren't. They already said they can't for close or evict
We must all pray and trust in God for our help and protection over this evil deadly virus that is killing many
@@gethoneydipped right... because they have such a good track record on keeping their word...
@@gethoneydipped They are freezing mortgages, not forgiving them. You will still owe however many months pass while we get the country going again. Bank of America just came out and said they are only doing it for a month. Who do you think politicians answer to? Us? Don't be naive.
@@raziele92 So millions of people forced into foreclosure in the midst of a global pandemic? Lets hope you're wrong my guy or there will be blood on the streets
SHAME ON YOU, "TODAY SHOW"!!! What a crappy and misleading headline. If this is a recession, it is nothing like a "normal" recession. THAT is what was said... TELL THE WHOLE AND REAL STORY!
What is a normal recession? The term recession means 2 quarters of negative growth. That means the quarter that just passed in January, and the we are in right now.
Emphasis on fact that we already had a negative quarterly growth that ended and this current quarter which is now affected by covid19 will be a second negative quarter. So to answer your question, the recession started way before US even got hit by Covid19 virus.
Maybe instead of cursing Today Show, start studying a bit about how economy functions.
@@harshsmi Well, well, well. Aren't we the economics professor. In all reality, the contemporary definition of an economic recession is a bit more complex than either the Today show, or yourself had the transparency to discuss. Here is the real definition: "The NBER defines a recession as a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales". IF we were, right now, in a recession...a lot more sources would be covering it. We may well be headed for one, or even worse. We will have to wait for the actual virus timeline to unfold, and see what economic resilience might be waiting to be released from it's global handcuffs.
@@Mikey-ii8ef You are either just blind or u just cant read the economic numbers for past months. Idk what to tell u if u think we are not in a recession right now. U might be in little bubble yourself which not gonna feel pretty when it pops. But good luck to u, u gonna need it.
@@harshsmi Nice way to dodge what you started. Specifics, based on the definition, please...
All this winning is very exhausting.
"We're not experts in pandemics"
I think you are sir, I think you are....
They are the masterminds of the pandemic. They never let a "good tragedy" go to waste. The federal reserve created the great depression. The fed is the enemy of the average citizen.
Smedley Butler III dude when he said that, I started screaming at my phone
This clown is the chairman. He's a puppet put in and told what to say. The _real_ owners are elsewhere.
DrewPicklesTheDark who are the real owners?
The chairman then went on to say that the economy is facing "mild headwinds" which is why Congress passed a $2 trillion stimulus package and the Fed has decided to print unlimited amounts of money to purchase treasury bonds, municipal bonds, and even corporate bonds. He then maintained that "the economy was in a good place" and that "things will return to normal soon" but that the Fed would still need to maintain its extraordinary monetary support until the sun explodes in 4 billion years.
Your rather funny narrative at the
end....was unfortunately True.
Everyone else can wait in line to be slaughtered like cattle but I REFUSE TO. Wake up AMERICA !!!
Some of them will be sleeping forever...
They have some crazy stuff in store for is folks!
The fed pulled the same strategy as of 2008 crisis with double the amount. Wow! Very strategic!🤣
picandvideo they give out debt that people spend back to Walmart who lobbies the gov
You aren't serving us, you've been ripping us off for a long time!
End the Fed. End it.
Without FED , US is nothing but people with peace
@@ManiVaas we do not need the fed. At all.
Go to crypto then
I thinks it's going to happen.
I can say it won't be that easy for business and consumers to go back to normal so quickly right after the virus is gone. Fear will be ruling us for sometime. losing loved ones, losing jobs isn't gonna be easy. Many will face mental issues. It's both health and financial crises. It will take longer than usual recession in my opinion.
Loans are "printed" money, or increasing the money supply, as far as I understand.
FED is saying our printer is HUGE, it can print UNLIMITED dollar ! What most people don't see is every countries also has to print as well, so this keep dollar stay strong since other countries dilluted their currency as well.
That's it, spread some crap and start another panic.
@Fillip Jahksen Is that what he is? a disease "expert'? That's right. don't cough on people, don't breath down their neck, don't sneeze in their face, wear rubber gloves, I bet he was the head of his class.
"The virus will dictate the timetable." May we all do our part, and hasten the day we are all back to full engagement with life, including our work. Enjoyed the interview.
@Josh D Thanks for your input Doc.
Also 60,000 people per month die from heart disease in just America. Your leaders don't care about your health. This is about diluting tax payer money into world funds. The virus is to distract every one while they rob us blind, they spent 5 trillion in the last two weeks and plan to hand out less the 10% to the actual tax payers, its all a scam to steal your money and it worked.
Nes Force You're right. ruclips.net/video/18UF8W-nriw/видео.html
@Josh D I'm shaking in my boots. Ooooo
@Josh D and the flu has been around for years not just 4 months. Time makes a huge difference. So do vaccines.
If we open up the business thinking it'll help to boost the economy, more people would be sick leading to more health costs, no paid leaves. The end result for opening up business will just lead to worse economy
Hey Jerome Powell, Student Loan Cancellation. Give younger people the ability to stimulate the economy naturally they same way similar aged people did in the 1970s when they graduated college with a few hundred bucks in student loan debt.
By keeping college graduates effective indentured servants, and paying on student loans, you are biting the very hand that would normally be the same one lifting us out of the recession.
You took on the debt, so keep it.
This guy looks like Dr. Oz's Dad. 😂
bahaaahaa...thank u...icouldnt figure it out...
you are onto something here! That's for sure!
Haaaaaa he does, I looked at Comments before I looked at the video then looked up 😂 that’s so funny
Those eyebrows... 🤨😂
We need a small laugh here and there!
Stay safe ppl! Stay home. ❤😷
how is this a recession without 'two successive quarters of negative growth'?
Sean Paxton just wait lol
Remember this is Not the typical downturn ... so the standard definition of recession is does not apply! “We may very well be in a recession ..” J Powell.
don't need to be an expert in pandemics any decent human being would take care of the people's health first
Congress must legislate workplace Corona safety regulations where OSHA has failed to timely promulgate regs to prevent this pandemic. The regs must specify the PPE that will prevent viral infections and specify social distancing rules for workplaces, particularly where the public is served. The lack of safe workplaces would collapse any economy where employers won't accept the liability and workers would rather stay unemployed than die.
2.283 million jobless.
When the man uses the modifier "fundamentally", that raises a red flag. That is a lot like a doctor telling a gunshot victim that he is in good shape save for the bleeding wound in his gut. He was also quoted as saying "we may well be in a recession." That's good to hear Jerome, now go tell Trump that his Presidency is "fundamentally" hosed, and that he might as well get in as much golf as he can while the taxpayers are paying all the bills.
WE THE PEOPLE I think we forget about this its not the banks or the Government its all belongs to WE THE PEOPLE
Go to crypto, nobody but you will have access to your money.
Rental units by private owners will trigger massive foreclosure. There are no renters. Then regular home owners are next. And so on so for.
Nope that is going to open up alot of lawsuits. I think the private owners can take the hit or be dragged through court trying to in force a forecloser during a global pandemic.
Sht dude you have been making money since 09! Saying "In certain circumstances" is bs.
Isn’t the technical definition of a recession two consecutive negative quarters? I understand what we are experiencing will likely result in that but we haven’t had one quarter encompass yet. I may be wrong and correct me if I am
I can't wait until we have 1 million dollar bills floating around. I mean seriously.......this isn't a new thing. The republic of congo and many other countries did this.
May well be in a DEPRESSION.
May Be But What Trump Must Do Is To Make Companies That Will Steal The Jobs From China. The USMCA Can Really Make All Our Products Cheaper In Mexico. We Have To Stop China's Growth. The Quad Is The First Step, The USMCA Is The Second Step, And Eliminating The Need For China's Products Could Be The Last Step.
#ChampionShipStyleGoldenSupreme
#InChampionShipWeTrust
#GBFIRSTNYC
This again is Like A Septic Tank You Still End Up With The same When Your Done
We're not in anything but a pandemic. Let's stay focused on the problem at hand. The markets will fix itself. Recession is over after the pandemic. So not in a recession. We're in fleece everyone's 401k mode.
That's a silly question Savanah. Sick people cannot grow the economy! We need to get people healthy!
How is lending help?
The rich donors are standing in line along with the politicians, we still don't know where all the stimulus package money went when Obama was in office we do know he left office with over 20 million dollars?
Get Rid of the Fed!
S. Mesut I take for granted everyone knows this basic fact, but I’ve got to remember most are educated in government schools today!
Just buy crypto and never have anything to do with the feds or banks ever again.
They will never stop the spread look outside there are people everywhere
Where you from ? Its the same here in canada.
The United States in Pennsylvania
Depression rather. It expected a 30% unpmlmt
She asks these questions so terribly
I can only imagine what would Peter Schiff say in a debate with Powell about this............
Fun fact, your income tax does not go to schools, roads, or fire department. Nor does it go to socialist-style welfare programs. It's collateral for the Federal Reserve and used to pay off the debt. Schools, roads, welfare? The US takes out loans from the Federal Reserve for those. Why would the government take out loans from a bank that charges them interest, when they can have the treasury print the money itself? Good question, enjoy your trip down the rabbit hole.
"What we're really saying is-we don't know."
The Fed reacted quickly. Now, we'll see if the stimulus bill will be effective. And we need to ration our food like Mark Watney.
Here in California it’s expensive here to survive. Their are families here already struggling even before this crisis. Pray 😊🙏🏻❤️🇺🇸
Typically stimulus is trickle down. This one may try trickle up recovery then might be far faster.
If you fell out of a plane without a parachute, 5 feet before you hit the ground, this guy would say, "You very well may experience some discomfort."
Why did the Scientist who originally predict 500,000 people would die from this just revise his finding to 20,000 people ?
I saw someone that said 2.4 million Americans would die. What a joke. I hate america just for that reason. We are as a collective just so colossally dumb.
Something I don't understand, why numerous still dies even if lockdowns and measures are in place, but Hong Kong, Taiwan, South Korea.etc are open loose and are reallly close to China, and Hong Kong have very high traffiic of people from China coming in even righ now, but don't have much deaths???
A recession, by definition, requires six months of negative growth. It's literally impossible for a recession to happen in a week.
“It isn't what you earn but how spend it that fixes your class.”
― Sinclair Lewis
A months long shut down ? She had no idea what was coming !
When are you people going to understand that the Fed would NEVER ring the alarm and say recession ahead of time. Why would they? People would panic and pull their money out.
Like he said," The Fed. Cannot Lose." and as we've heard recently, you don't want to "pass up a good Pandemic."
We might have a recession. Wow, really, you think so?
hey while your printing that 750 billion can you direct deposit 250 of that into my bank account so i can buy some assets?
Get ready for another plane full of cash flown to Iran and landing in the dark of night, where is Obama when we need him most, he knows how to make money from every where.
This is real news and there's no views. 🙄
The world as we know it, will soon come to an end ...
End usury.
What will likely happen is the big corporations will get big, no interest loans to gobble up smaller companies that don't have the quick access the big boys do. Big corps will also use the opportunity to rid themselves of employees that are older and most costly for them, just as they did in 2008.
"We don't see that" dude that's because your freaking blind. YOU CAN'T SEE THESE OVER PRICED ASSET PRICES?.
Recession? Really? We are looking at the Depression, 2020 style. Worldwide.
Modern Monetary Theory (MMT). Why were you doing QE4 (repo markets) in September 2019? There was no virus but you bailed out the banks because of tax. Now it's the virus.
“There’s nothing more permanent than a temporary government policy”
Truly a blonde asking questions and then leading the question while trying to get the result she wants. This is unprecedented i.e. nobody knows! Follow the CDC recommendations and after the virus is under control, we can focus on the economy. Right now focus on health and family! God bless America and please focus on what matters.
Dude there are 30-50 year olds who were healthy breathing like they have glass in their lungs...
Differal of all payments due private or public would have done everything financially to mitigate this problem. Ford deffered payments to 3 months out. Fact is this govt & fed reserve just created qe 6,7,8 9 & 10 with this covid stimulus. Will this end up as the largest bank robbery in history. This is bipartisan & all of them profit through this stimulus.
Bitcoin is the new currency, we don't want fiat anymore.
Mabey the country should start having most of its income be made by business that are built in this country. The 40s had a great financial run and that was because business were all local.
Why can't we have a beautiful deleveraging. Let us rid the system of excess and let the froth clear and have fundamentally strong and well capitalized businesses with models who can stand through rough times?
insanity. goodbye free markets.
Who are they kidding. They create this fancy piece of paper then give it a value of a trillion dollars then create that money give most to their corporate friends and let a trickle go to the near bottom. The bottom is left to fend for themselves. Must give them dark sadistic thrills.
Who’s ready to be homeless, because it’s gonna happen soon
He's doing his best. But what can you do when the system is meant to fail...
Super America ? Super China ?
Those politicians just want to save the DJI, Nasdaq, to save their money, but no care to our lives, we need testing and medical treatment for our parents, our children and ourself.
I think everyone in this country needs to take their mortgage payments, rent, taxes, and send them off to the Fed. 300 million Bill's piling up on their doorstep. Would definitly make a huge statement that things need to change
We're in a debt bubble! The virus was the pin that burst the bubble.
And soon the world will realize that fiats are worthless and more and more people will change to cryptocurrency. Long live Bitcoin
You have none of the briefings posted or any stories of the trial drugs. I’m
Finding more info of France and other countries reports than real coverage by you or any media source. Why are you not covering the facts?! WTH?!
Money money money
Evil HANDS behind this crisis.
Money will not save you from this great equalizer.
This guy clearly has his sh#t together. Good interview. Great speaker.
It's a blank check up to inflation and we have no inflation. They should be able to spend up to $100 trillions. I hope they spend it all and pump up the economy
this guy lies just like a career politician. the whole reason this is such a huge problem is the federal reserves policies. this country needs to take the medicine and allow the massive credit bubble to burst. pumping more debt and cheap dollars in the system is not a cure.
Last pandemic we had the depression so whatever happens happens.
Enemy.
no doubt Dave Ramsey is 100% correct about money and personal finance. that being said the best financial move the world can make is to quit using money and start using a resource based economy ASAP. The Venus Project has the right idea. watch their documentaries on their RUclips channel and read articles on their Facebook page and website. the challenge is getting humanity on board
Lol money printer go “brrr”
Fiat = inflation cryptocurrency = deflation
If the economy was (is?) so great then why is the majority of the middle class two weeks away from bankruptcy? An economy that doesn't have anything "fundamentally wrong with it" should have been able to weather this without a 2 Trillion dollar stimulus.
So why not focus on aggressive coronavirus virus containment instead of short term gains and stimulate the un-stimulated economy. Who would borrow money to pay their employees?
think what it would be like if we didn't pay these people A LOT of money....
The Fed prints its own money off the gold reserves and silver reserves it has stored away that is the compound residual interest it is earning. While my interest earned is .01 cents every month and my student loans gains interest off its principal. They're not going to forgive the student loans just give us enough money to get by for the next couple of months while the interest on their loans accrues thanks FED.
There was the era that the banks were underconrolled by government. If you find that era, You probobly understand why banks should be independent from government although there are so many conspiracism. And I like this guy