Powell testifies to Congress on the economy and how the Fed plans to fight inflation - 6/23/22
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- Опубликовано: 10 сен 2024
- Federal Reserve Chair Jerome Powell on Thursday testifies before the House Financial Services Committee on the U.S. monetary policy and the state of the economy.
In remarks for the Senate Banking Committee a day prior, Powell said the Fed understands the "the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so."
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Powell testifies to Congress on the economy and how the Fed plans to fight inflation - 6/23/22
The thing that all of these experts fail to take into account is that the politicians will never act fiscally responsible and they will continue to encourage the FED to print money thereby worsening inflation.
Nixon said, I will take inflation over high unemployment.
@@gagnepaingilly Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. It's all coming together, and by the end of the year, it may be a complete disaster.
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Depression & WWIII
Great information and knowledge.
Never missing out on an opportunity to grow my portfolio this year.
I need to start investing..
He is on tel
@Kennetgibbs_bch
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What a bunch of political BS. They don't need Powell there. Just let all these other good for nothings show up and make their statements.
Yep. Big business runs this country period.
And they are clearly pressuring him NOT TO FIGHT INFLATION AGGRESSIVELY! And the tell us he was called to WH to be assured he is independent! Lol. Does the PRESIDENT NEED to call the FED CHAIR to tell him he is independent???
How can he say "excluding volatile food and energy" with a straight face? Those are the two most important categories to most people.
Because rich people dont care about the youtube poors comment section.
@Nicholas Eff Because FED don't have any influence on those products. It's clear that supply side is the reason of price rising. FED can only slow down the economy, so FED only affect demand side.
Fed monetary policy is very important, but it is not the only answer.
Because witard…. The fed can’t control gas prices and food prices with just interest rates. People ford to eat and will pay regardless if it gets more expensive albeit at a lower amount and gas/oil is controlled by global the entire world market.
Okay dummy….
@@gsurtos6588 Dude you are hilarious. I bet you graduated the 6th grade. We are doomed as a country.
Comon, man. Why DID somebody seat an attractive busty woman in a tight red dress in a chair next to the person testifying?
i have the same question.
who's the women on the right from him?
This with Hans Zimmer music is crazy
Lol Matrix chat going crazy over the woman in the red dress.
Damn, she disappears after about 18 minutes in. Do you think she got bored or kicked out?
Maybe if you Republicans and Democrats actually have to work together to solve the problem as you are $ paided to do! Instead of being the problem the two sides of our government should perhaps quit blaming one another and become part of the SOLUTION! Or simply not get paid! If I was in a government work place and didn’t get results I’d be fired, put on probation etc! You official argue and blame and nothing gets done on either side. I have a solution!
further more mr powell a gold or silver backed dollar would nice to have again so get it done please right now
Oh! No! Not black unemployment specifically AOC! Glad you care about all Americans. As if race has any impact on actually monetary policy….there’s less fortunate ppl regardless of races who will suffer from this…
What if I told you both major financial crises of the last 20 years were caused by pushing the advancement of black people? 2008 great financial crisis: giving too many low credit black families home loans. That almost destroyed the country and caused mass unemployment. 2022 inflation crisis: Powell waited a year to raise rates waiting for black workers to reach full employment (they never did, even in a booming economy with help wanted posters on every business). That allowed inflation to spiral out of control from a manageable 5% up to 8%.
@@Based_investor What percentage of people who were delinquent on their home loans in 2008 were black?
@@cnbcvideos7126 my point was it doesn't matter if someone is black, white, asian, or latino...inflation hurts everyone, mostly the less fortunate who end up paying the biggest price regardless of race
These questions are trash. They not explaining nothing
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his
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We probably have the end of the typical market manipulation on BTC. It looks like half of a typical volume reversal pattern has already been drawn. And there will be strong rises in a while. I was told about the manipulations by a trader who did them for decades
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Inflation is 15 percent at least …. Using the CPI that was calculated in the 1980s. govt always finds ways to hide their fiscal mismanagement
Vargas really comparing the US economy with small nations like Latvia and Poland. So intent on excusing Biden rather than actually working to fix the issue
I'm amazed that nobody is talking about the fact we are allready in a RECESSION! YESSS A RECESSION PEOPLE!!!!
you actually think the democrats will admit this ? I mean the president lives in an alternate reality and cursed at people who would even raise the suggestion of a recession taking place.
Sent money to Ukraine 3 times. You need to help your own people.
The real question is who is the lady in the red dress behind Powell she the only one that can make him turn on the money printer (we need her name)
You know someone is well informed, and telling the truth, when they must read their "statement" from a script.
0
You realize they all read? Perhaps the people who read are well prepared
Its a beautiful lie
I'm making three more dollars an hour compared to a year ago, but feel a lot more poorer today.
JP simply repeats for every question - "inflation to 2%, price stability and maximum employment"....just a recorded reply would have saved lot of time
I don't think members of the US congress understand how the economy works, or even economics 101 for that matter
you'd be surprised; they know, but they are politicians so they make up narratives to fit their agendas. Like trying to blame corporations for price hikes, how stupid is that? Well, most Americans fall for their theatrics and its sad.
does Powell understand ?
When youre too hot for conservative TV
What about the Powell private meetings with Black rock? Are those in benefit of regular people?
one evil meets another evil they are the scum of society
You know they aren't. This is all theatre...these people are there to squeeze us of every last dollar through inflation and staged shortages.
The politicians here should be ashamed of themselves. All they do is use their first minute as a platform to say what they want for their campaign ads, then they just ask Powell questions like they were lawyers trying to get him to say something they can misquote or use against the other party like “See! The Fed agrees with us and not you!” and that is all that is going on here.
I don’t want to hear political grandstanding!!! Just good questions for Powell!! Sick of this back and forth bickering!!
Doesnt matter what you think your in the poors comments section.
@JustsaiyanSteve no he's not. I think these politicans probably hate you for this comment.
They don't care. They welcome the dollar collapse so they can usher in the digital currency Powell has been talking about. Then they can turn your money off whenever they want.
What! Shut off money currency!?
Powell to AOC “ Do you really feel qualified to quiz me on monetary policy?”
inflation is a consequence of infinity QE. stupidity is infinity
poor homeless women cost the united states of america. poor homeless women and child support and group homes for unfit parents.
girl on red making this tolerable...
what they don't talk about is that inflation is a rate of change, and not an absolute value. By bringing inflation back down to 2-3%, you are reducing the RATE OF INCREASE, not the actual prices we have gotten to. That would require DEFLATION. Deflation is mostly not possible without a painful recession.
i.e. the prices will not go back to what they were. the best we can hope for now is a pay increase.
@@peters972 that's no good either :(
Everyone asking for pay increases will dig into company profits (along with the increase of goods) - this is how you get layoffs. Can't pay everyone higher wages. We're dealing with Stagflation imo
@@HeyZeus_ for sure. They going to lay down the Volker rule hard. They could address the futures house and add reforms to control the false demand of commerical banks that have moved their clients money into to run up prices by the amount of futures being bought. They could set a limit like inflation is X % above base rate then no traders or they must receive the order and take physical ownership. The amount of paper being pushed to create false demand or scarcity is insane. London metals exchange gets raided and we still don't do anything on the why it happened. It happened because you let JPM put a trillion dollar bet on nickel when the supplier was shorting nickel because they have plenty. All of it ended in cancelled contracts and a most obvious example that the hidden hand is not invisible because it is only pretending to be the invisible hand of supply and demand
@@HeyZeus_ Corps are already saying, " we gave them a raise, business sucks, time to lay off"
@@HeyZeus_ I was thinking of REAL wages Jesus. They have not increased for many, many years in the US. We are grateful for all those lifted out of poverty across the world during that period, heavens be praised. But we fear a great storm.
The plan is the big crash
Remove the 7 trillion dollars Trump ,Biden and congress approved for covid asap. That would help. Removing 30 billion a month would take 20 years to remove 7 trillion dollars from the m2 money supply. How about 100 billion a month?
Informatief. Het is triest dat veel mensen hun kapitaal verliezen door gebrek aan kennis van het vak of gebrek aan discipline. Dit was mijn geval totdat ik de heer Gerard stuks vorig jaar op een conferentie ontmoette, het is nooit te laat om te beginnen.
Ik besloot toen ik veel getuigenissen van verschillende investeerders over Gerard stuks begon te zien, ik besloot hem eens te proberen en zie, hij was degene naar wie ik al die tijd op zoek was, handelen met hem was zo lucratief, leerzaam en winstgevend.
Kun je me de contactgegevens van Gerard geven ?
Hij is actief op Telegram
Gerardstukes is zijn actieve tag
Currency inflation has caused many problems. Now it is mainly to find opportunities in the stock market to make choices
We also used to play charades in grade school.
I made a comment to @Chris. I hope he got to thinking about what more to say.
I see only red😅
symbolism? lol ... red candles incoming? but yep.... that wasn't placed there by accident my tin foil hat theory
Yes.
Ok, I wasn't sure to dislike this comment.
Who is that?
Inflation is causing a plethora of issues all around the world, including food shortages, diesel, and heating fuel shortages, rising home costs, and financial market catastrophes. Everything is coming together, and by the end of the year, it may be a total disaster. (Or even earlier).
The Fed is well aware of how horrible things are. They contributed to the circumstances we are in now. The Fed is also aware that a hard recession and bubble bursts will be the "treatment" for rising inflation. And certainly, it will be far worse than 2008.
It would be wise for everyone to put money into non-government sources of income right now. especially in light of the current economic situation throughout the world. This is still a great time to invest in stocks and virtual currencies for individuals who understand the market.
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@@oneiljerry9460 Sure! Despite the Dips, The cryptocurrency market is extremely profitable with a trained Financial Advisor like "EILEEN RUTH SPARKS" who was recommended to me, and my financial life has been successful since then.
@@thelmaroberts9935 That's awesome!
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don't tax middle class congress
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If you trade with the proper preparation and technics. You can beat the market several times
@Dr Benny That’s impressive! How could someone go about getting investment guidance from a coach like that. Would you mind sharing your coach's Info?
@Dr Benny I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this
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keep the 2 % fail safe for every trade you do. It takes 3-4 years of continuous practice and knowledge addition to beat the markets.
1:24:10
Pressley
1:27:05
“Regulating the availability of credit in the specific sectors of the economy experiencing high inflation without impacting other sectors.”
Why do these congress people need to read notes? Makes me think they don’t understand what they are talking about.
2:03:59
Pump the brakes.
Please sit with this.
You see what he is saying?
When people hear “inflation needs to come down” they replace inflation with prices.
I’m old.
Prices never go back down. They don’t want that. Even at the CURRENT high prices.
Please understand this and keep this top of mind.
Look around you at all the high prices.
This is the new normal. The FED knows the only way for prices to fall noticeably is for Deflation to be the new regime.
And they fear this far more then Inflation.
All they want is for our current price levels to increase 2% a year.
Not fall.
Here’s what this means.
Let’s say you want to buy a home and see one home that sold for 350k in 2020.
Adjusted for inflation this home will now be 405k
They don’t want pieces to return to that level since it would mean we are seeing massive Deflation.
They just don’t want to see prices increase more then they are at this current rate.
They want Disinflation.
Prices keep rising, but at a lower rate each month until they settle at 2% per year.
They are not even interested in interviewing him - they are all just giving their own little speech for public opinion. Quite ridiculous to watch.
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You really need to stop shaking your leg, it is really distracting. That is my overarching message to the woman in red.
Strategic oil is needed until smr's are developed and why not pump the fresh water in the base to refill aquifers
who is this??? Mr Green? where is he from??? Oh they do such a great job!
I are curious to know if people actually believe him, and if not. Why is he still employed? 😐
Jerome Powell is the reason this mess will not go away soon! It will only get worse! Imagine printing $1,000,000,000,00 a day!! WTH was he thinking??? Now he wants the digitalization of the American dollar! WHAT!!!! This clueless guy needs to go immediately! Greetings from Australia 🇦🇺
COVID and the supply chain hasn't changed..... depression here we come
Oh for crying out loud take off your damn mask.
Many knowledgeable people warned of inflation as a result of government action and the government went ahead and did it anyway.
If there is corporate greed it’s only allowed because of lack of competition because government gets in the way.
The government sent out economic impact payments to people that didn’t even lose their job because they wanted to print up money to bring about inflation
Let the man do His Job!!!! if these people had the power to control monitory policy we would never stopped printing money and asset prices to continue to go up so they can continue to be re-elected
Is no one else noticing that they randomly switched the girl in red for some white guy in under 30 seconds like it was nothing
all I could do was stare at her lol omg
Were you listening to me Neo or were you looking at the woman in the red dress? Look again
She went to take a dump
How do I invest in China and dump these worthless dollars?
Move there … see ya
why aren't closed captions on
13:25 to 19:45 is the only important part of this BS tbh
fr lmao
I'm sorry. But is the lady dressing appropriate in this occasion? Regardless, the most replayed diagram sure says a lot.
A pound of beer 🍺 😋 6.00 dollars. How much a keg.
For you to be able to weather inflation and the economic situation, building a solid investment portfolio is crucial. Put your attention on low-cost diversified funds or excellent firms, create an asset allocation that is suited to your risk appetite, and invest for the long term. As a result, you'll be able to invest with more measured risk.
Doesn’t matter if the market is up, down, or sideways. I’ll continue to consistently invest in GREAT companies & IFs/ETFs. Invest with a long-term mindset
It grows more addictive as you make additional investments. Make this a habit, and you'll be well on your way to accumulating enormous fortune.
I have $62K to put in a well-diversified portfolio, but I'm not sure whether to start saving now or wait for more declines, even if I'm really interested in digital assets.
@@marksway7292 Consider the long term; I personally entered the market to prevent being abandoned when I retire. My coworker introduced me to CFA "Eileen Ruth Sparks," who created retirement plans that were all in line with my preferences; I simply had to choose one. Thanks to her exit and entry strategies on commodities, securities, and digital assets, my portfolio has significantly increased in diversification and returns on investment. How much I have accomplished actually astounds me.
@@bobbymainz1160 Thank you. i just looked her up and she’s quite good in digital asset management, dropped a message and hoping to get a response asap.>
Lots of people in office seem to not understand ECON 101 or Macroeconomics. The Fed helped cause this mess.
They understand. They don't care. They want to destroy the dollar to usher in a digital currency where they can control everything you do. They can also just shut you off if they want to.
We don't know what enforcing our antitrust laws will do as far as inflation is concerned, but let's go ahead and print 5 trillion dollars during a pandemic?
And now he say he will lower ordinary workers wage to stopp innflation, and not do something about friends high $million wage
Housing needs to come down 50% plus and that is the hard truth well off people do not want to hear.
Don’t worry the population is declining reversing the major cause of price increases. Add that with technology lowering the prices through 3d printing houses by 20% and it’s clear to see the top is very close
Unless the population booms I expect home prices will depreciate like cars in the future meaning renting will be the way to go and rent will be dirt cheap like 5-% of wages not 35% today
above all elected officials should be a list of contributors and pacs that that got them elected.
Props to Meeks for asking what Jerome thinks instead of demanding that he attack corporations or congressional spending not under his purview like the other members of the committee.
Update only minutes later: he was asking leading questions to establish that Powell agreed with a set of statements that he could use to pontificate, it just took him longer to do it than the others.
you don't care for low income mankind.
TRANSITORY
Lol
Everything is transitory
Eventually the sun will burn out…its transitory!!!
Traitors! every single one of them! #nocellnosell
Keeping the interest rates low make the inflation bearable, raising the interest rates will not stop corporate greed and punishes the victem
malachi 3.10 united state federal goverment ressession
500 million 700 millon the goverment thinks everything rich.
Why the whole inflation burden is on only the Fed Res and Mr POWELL, the less effective demand-side?
Because he is the one that caused inflation by massively increasing the money supply. And the demand-side is the ONLY effective way to control inflation.
Once you find that magic wand to increase supply, I would like a mansion and a lambo please. But until then the only way to control inflation is via the money supply.
Sacrifical desecrate sacriligious profane. Country
I remember when Maxine told homeless people to go home when they asked her about housing. What a world we live in.
There are going to be too many homeless people soon. Collapse of the US economy is the goal.
Interest rates will need to be raised to control borrowing from the FED and the "diluting" effect that money has on the purchasing power of existing dollars. During Mr. Alan Greenspan's Chairmanship of the Federal Reserve, it was common practice to wait too long to release the chokehold FED rates had on growth and prosperity. And I would like to ask, if the FED started to ease monetary policy when "measured" growth falls into the 3 to 4% range, then maintains steadier rates as growth begins to level off at near 3%; would that be a better way to land the economy "softly" than going by inflation's measured %'s?
The FED cannot raise interest rates without bankrupting the US government, which is already technically insolvent. But they will anyway, to save the FRN. Thats the choice, bankrupt the country or hyper-inflate the currency.
@@nicholaseff8511 Will never happen. They will stop raising rates in September 100% guaranteed. High inflation is a much better way out of this mess then letting everything burn
@@nicholaseff8511 They don't have to bankrupt the country. The country could, you know... balance its budget. However if the fed keeps bailing them out there is zero incentive to do so. That is the problem, the sheer amount of moral hazard the FED has created. The government, businesses, investors are all hopelessly addicted to free money. The problem is anytime the addicts start showing withdrawal symptoms the fed immediately ups the dosage. There was a very easy way to avoid all this, heck there still is, the fed just needs to accept slower growth and lower their inflation targets. But instead, anytime there is a bump in the road the fed just unloads the monetary bazooka.
Japan has a way bigger debt problem than the US, they aren't bankrupt and their inflation rate is only 2.4%
2:25:55 someone finally said it
Lol yeah
Billionaires vs Poors.
Why not print more 🤣
Try reading
The Bitcoin Standard: The Decentralized Alternative to Central Banking
Book by Saifedean Ammous
Face book meta rips people off of every thing trumps congress
The solution is free markets.
I'm thinking that possible invest in more oil might be more important. This should help bring in more money to pay taxes, right? Let finding means to pay employees. This war is very much talked about.
Invest in oil only if you are brainwashed and don't believe in global warming.
I'm nvest more in green energy and it will create more jobs as well as decreasing our dependancy on fossil fuels.
2 billion farming drought fertilizer ever clear desiel and farm animals cows nebraska ethanol
POLITICAL b.s. Ask what their port folio and immediate famly are. Here at the end , blame not thy-selves as both parties.
reduce the pollution to 200.parts per million with 300 some billion in encentives
DiVeRsItY
We're allready in a recession, could it be that they are being afraid or even anxious towards crypto?
romans 17 and 18
Yerright!
Steal fica abuse sdi.
it looks all staged !! just a formality or a procedure to keep public confidence !!
WHAT PUBLIC confidence they are all so out of touch they bickered and they have no idea what they are doing. MOST OF THEM have zero economic literacy
Bingo!
World hyperinflation.
Covid .19 confusion in 2022
The gentleman that finished at 52:38 ripped right through
The Democrat job are blaming and denying. When Trump was in office, blaming Trump for everything. Now Biden is in office, then denying that Biden is not in office.
@Lester Crest LOL yes it does it has everything to do with this mess when the solution is always spent spent spent
@Lester Crest You are so ignorant and out of touch its not even funny
it is a political stunt. Inflation is caused by rapid transition to green energy without adequate resources to advance, and government spending like never before. Fed can only control interest rate, it is not a god with a magic wand.
@Lester Crest energy policy is causing companies in the aluminum and steel industries to shut their door due to high energy costs... Less supple means higher prices per policy
Revelation 20.15.
La chica de rojo me distrae.... 🙂
So why don't we focus this inflation busting on the future's market house. There needs to be reform. What JPM did to the London metals exchange should of been warning shoot of what is happening. They need to set a rule that if inflation raises above the base rate then traders/hedge funds/and commercial banking are excluded from the future's market place. This is allow companies to buy supplies to make their products at a price on real world demand vs paper future demand which is being manipulated by large blocks of money trying to make money off inflation. It is a classic move for inflation and the classic move of inflation for much much to long. Can't clean up the chicken coop until you close the window for the foxes.
6:14