Fed Chair Jerome Powell's House testimony on the state of the economy - 07/10/2019
HTML-код
- Опубликовано: 8 сен 2024
- Federal Reserve Chairman Jerome Powell testifies before House Committee on Financial Services on the monetary policy and the state of the U.S. economy.
» Subscribe to CNBC TV: cnb.cx/Subscri...
» Subscribe to CNBC: cnb.cx/Subscri...
» Subscribe to CNBC Classic: cnb.cx/Subscri...
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedI...
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC News on Twitter: cnb.cx/FollowCNBC
Follow CNBC News on Instagram: cnb.cx/Instagr...
#CNBC
#CNBC TV
Fed Chair Jerome Powell's House testimony on the state of the economy - 07/10/2019
![Megan Thee Stallion - Neva Play (feat. RM) [Official Video]](http://i.ytimg.com/vi/TpYTyAaTRts/mqdefault.jpg)
You can see from this congressional hearing where the problem with our country is
NEver seen sooooo many liars working so well together in the same room
I’m so disappointed in the news feed. The media is ruining Our Country! I pray for Our Freedom
END THE FED
END it. AGREED and their fiat ponzi scheme
Can’t believe that chick’s a congresswoman 🤦🏻♂️🤦🏻♂️
Buying bitcoin after this video.
Thanks for the 12% dump ;)
Hello baggie
ur welcome hope u enjoy the 50% dump coming soon as well ;)
@@stealingcreation no problem with hodling something that has future value.
Price is something that fluctuates, the value is the one increasing.
stealingcreation nnnnn
stealingcreation nnnnnnnnnnnnnnj
I took a shot every time they mentioned Libra and I died.
bitcoin , gold ,silver or their toilet paper money with legal tender on it
"Trust me," said the Big Bad Wolf...
Are you kidding? Look at the REAL inflation in food, and some basic needs! Now my city's utilities is raising water rates every year for 4 years!
I love the part with John Rose, U.S. Representative for Tennessee, start time: 01:31:33
[Rose] I am a vocal advocate for putting our Federal Government on a more sustainable fiscal path.
Our federal debt now stands at 22 trillion (more than 22 trillion), interest on that debt is a big federal spending item amounting to about 360 billion last year that was approximately 8% of all federal spending. Interest on the debt is becoming the fastest riding element of our budget. Our net interest expense could increase substantially if and when interest rates eventually return to more historically typical levels. It seems possible that we might even soon spend more on interest than on out national defense because we have to in order to service out debt. The president's own budget from 2018 forecasted that net interest expense will exceed defense discretionary spending by 2026. It looks like the federal deficit this year will exceed on trillion as it will in the next several years after that based on current protection predictions. it is hard to see how the federal government can issue that much new debt without further driving up interest rates. One of your predecessors once said there is no question that as deficits go up it does affect long-term interest rates. He continued a rise in the debt increases the amount of interest expenses which in turn increases the debt still farther and there is an accelerating pattern after you reach a certain point of no return.
Could you talk with us today a bit about some of the potential to financial stability posed by our current fiscal path and in particular current federal spending.
[Powell] I think the United States federal budget is on an unsustainable path in the sense that spending is growing faster than the economy and ultimately that becomes unsustainable at some point. I think we're racking up greater and greater debt. I started to say the debt is growing faster that the economy. Debt is the percentage of GDP is going up and that is unsustainable, I meant to say. It's something that we need to get back to and assess and it's not up to us to say how to do that what combination of spending and taxes, that is of course totally the province of the legislature but it's something that's important over the longer run and what will happen if we don't do it is that we'll wind up spending more and more on interest and less and less on things that we really need to spend money on, educating our grandchildren and all of the important things that we do, you know, for the benefit of the public with federal tax dollars.
[Rose] What are your views about the veteran Federal Reserve's role in monitoring financial stability reading posed by the deficits.
[Powell] We do have a broad role in monitoring financial stability. I would say, you know, the 4 key pillars we look at are leverage in the financial system, leveraging (the net) away from the banks, funding risk, and assets prices. We don't really think of longer-run fiscal and sustainability as a financial stability risk. It's more of a, you know, we're the world's reserve currency, we keep being able to borrow. My predecessor who predicted that more debt would lead to higher interest rates would be surprised to see that with the debt we have we still borrow at very low interest rates because we are the world's reserve currency. So, we haven't seen higher rates but to the extend we go on raising debt to GDP we will just wind up spending more and more money on interest and less on the things we need.
[Rose] If you will talk about the impact of higher interest rates if, in fact, deficits lead to higher interest rates on the stability of the financial senate system and in the aggregate.
[Powell] Well, I think down the road at some point rates, I mean, ultimately there is a price to pay here in higher rates and that have there, has to be true at some point although, you know, Japan has far higher debt to GDP than we do and pays ever lower interest rates. So, it's hard to say but ultimately, I think the debt we're racking up is really going for essentially current consumption and we're passing the bills on to future generations. I think, you know, our generation is entitled to spend whatever money we think we need for ourselves during our lifetimes but we really ought to pay for it, we got to be paying for it rather than passing the bills along to next generation.
[Rose] Any finally in 3 seconds, is there a point of no return?
[Powell] Somewhere way out in the future there has to be, I think in principle.
In essence, we are domed, Ponzi lives! The principle has nothing to do with it, Mr. Powell! Why is it so hard for you to say our greed?
I think we all get itr Powell, I mean how many different ways can you explain how you're screwing is all?
Why is Larry David hanging out in the background??
Greatest economy for the top 3%.
If you are watching this and believe is real, you deserve what ever they give you
The Fed:. We're accountable to you Congress. Thank you
Americans: WTF ?
Roflmao 🤣🤣🤣
Interviewer 2:49:24 : "Why is the US dollar the worlds reserve currency?"
FED: "uhhh cause... uhhh.. cause..... SHUT UP?" *disappears in puff of smoke*
:why are retail orders in the US stock market going to darkpool? are our 401k investments safe? time to ask questions
Narrator: "Little did he know that he would soon become the epic Money Printer Meme, pumping over 13 Trillion $ in 2 years into the economy. What innocent times."
I don't believe there needs to be a rate cut.
I feel the fed is reacting to the pressure from both sides of government (demo and rep), the president and the general tone of the market participants calling for a rate cut
It would be great if the volume on Powell's mic wasn't turned all the way down. I can't hear what he's saying.
MAKE IT LOUDER!!!! WTF... pro journalism at its finest. I'm here for the emergency blockbuster video executive meeting :-)
What a liar, Powell, 65% of Americans have less than 500 dollars in savings for a flat tire replacement. We're collapsing on mainstreet BIG TIME.
If I see one more person tout this "fact" I'm going to lose it. Majority of Americans likely have less than $500 in savings because interest rates aren't that attractive enough for them to park money in a savings account. Or they lack the information to search for better resources to place their money instead of a checking account.
@@StuckInOhio10 no it's not true, zero money on mainstreet. And I mean ZERO.
To those vets saying that their actions are not reflected by civs. There are Honorable Discharge, Medical Discharge, they are coded to mention if it due to combat wounds or psychiatric. Your DD214 also includes date entered and point of entry, and the date discharged and out-processing base. It also says grade of service, pay grade, how many days used for R&R, and other details. This is not just used in Federal Government, the info is used by all industries. It is not just the military who holds biases, all hold biases toward each other. Unfortunately, people on the same team or killing each other without finding the need to explain which bias they are shooting you for.
Free money for the Oligarchs
No free money for the people
Fed seems nervous. Why would they think it's a good idea to cut rates when market's are hitting all time highs? I'm not convinced.
markets are hitting all time highs in anticipation of rate cuts
They aren't at all time highs and we investors do not have confidence in putting out money up if they dont have confidence in reducing inflation
michael groves spy is at all time highs. And we need more inflation
@@kirkspinelli3815 it only returned to previous levels
michael groves verifiably false. Spy hit record high of 299.66
Ok in now
I think what I see is HOMELESSNESS AND DESPAIR.
This aged poorly. Listen to Powell's concern about inflation being too low.
Rate was already cut do you guys not read the published notes?
They say: USA can print all money they want because dollar is not backing on gold or any thing else and more over, dollar is the international currency.
So, if BRiCS countries are very focused on create a paralle international payment system, what will happen with USA huge debt when SWIFT has a competitor?
Or, what will happen with USA dollar when China shows to the world , they has storaged 20,000 metric ton of gold or more? And India, Russia, and many others countries too?
No sound to this video why??
I got sound you got problems
Look at John Carpenter's 1988 film, They Live, it's about the Elites!
5 people watched this ?
Snore... Who has time to listen to fairy tales?
Are hoy sure, inflation is 2%? Are you sure?
Are you sure , unemployment is 3.7%? Are you sure?
函數就是告訴你種樹問題沒有問題
Monitor what?
libra 23:30
Prewritten script. The Q and A.
We would be better as a country to abolish the federal reserve.
oh you mean we should just gladly stay with on unbacked USD Central bank system (that K Marx envisaged) until we end up in hyper inflation, like all other Fiat currencies in the past, and copy Zimbabwe and Venezuela in a Socialist utopia printing our way to prosperity?? why bother to learn the lessons form history of money when you can just read Das Kapital and blame the everyone else for your country's poverty....
Thank you for serving Chairman Powell
Trump said many times: around 60,000 of big factories shut down on the States to go to China on the last 30 years: so, all those jobs in those 60,000 factories went to China with each factory? Or they got on the streets?
If China stops buying US bonds, who are gonna to feel that hole? Is a 30% hole in the revenues from that kind of business.
So, they can still printing dollars to feel that hole?
What will happens with inflation?
This GENIUS (Democrat-Heck) CONGRESSMAN discussing the lack of wage growth that we missed UNDER Obama, The FED specifically says we missed 10 years of growth AT THE BEGINNING OF THIS CENTURY Obama was 8 years, Ergo the growth we are seeing is reasonable, in particular, the recent years (this pod was 1 year ago, august 2019) at 3:00 with CONGRESSMAN Heck (of course, a DEMOCRAT) Complaining about THIS (Trump) Economy??? But silent under OBAMA?
Chairman Powell, Preach!
This was an epic day! History in the making. Will be streaming day 2 live while trading and full moderated chat, see you live 30 mins before open ;)
AI will make a lot of unemployment. What to do?
Shut up.Maxine! End the fed!
STOP PRINTING MONEY AND LOWERING INTEREST RATES!!!! YOU ARE CREATING INCOME INEQUALITY!!
Perspective on $?
Stocks
I don't see any way out whatsoever.
Somebody has to pay all that debt.
Better decrease rates for rich and corporations. That will solve the problem. lol
It's about to get a hell of a lot worse.. - j.powell
GOT GOLD?
Greetings you fabulous Earthlings and Happy Tuesday!! 👋👽I bring covid-19 free thin crust pizza to all you friendly Earthlings 🍕Don't mind me, just cruising by:::::::::::::::::🛸
If you have any extra money buy gold, silver, and bitcoin.
Why adds show Verizon, I have At&t?
Surveys show that consumer CONFIDENCE is high. People BELIEVE that the economy is working. Employers BELIEVE that workers are scarce. This kind of talk indicates that this economic system is predicated on what people believe like a RELIGION. I am interested on what the FACTS actually show. Nevertheless, there appear to be many contradictions to this belief model by which opposing beliefs coexist.
Cray Cray aunt maxine
I thought the Economy was Booming?
Ok 8n ok
I just spent 100k$ made 80k$ in 4 months
B Facebook is not going to pay you extortion money be
His wedding band looks 24k. Gold... Liarr
Nothing complex.
Please lower rates on student loans and credit card rates. When fed rate was 0% banks were charging 25% on credit cards. Grandma needs 3% on her savings.
Not the way it works lol
Oh they are scared, scared of Facebook :)
Especially Sherman 2:55:00
B/d bulding 구매하였사오니 실전업무 투입할 인적구성자 준비하시길 바랍니다 ㅇk fact ok
This first woman is clueless
They are all clueless, it's amazing, the Feds outdid Bernie Madoff, MAGA!
I can make more $ in the stock market than go to work.
Sir in light of the spending on treasuries and other bank held assets over that past ten years. Would you consider getting a kitten as company mascot named Chairman Meow?
Wexton likes using toilet paper as currency LMAO. Return to the Gold standard I am sick of using toilet paper as currency.
It stinks.
That's why my partners and I are trying to bring back the gold standard by making Legal Tender Gold and Silver coinage useable - Quintric
@@MichaelX1 nice. Will check it out.
T
Simulation!
This is the biggest bubble yet - bubble
in everything. Poop is going to hit the fan in a big way very soon
If this doesn't motivate you to buy Bitcoin, nothing will.
The Fed is just 12 people in a room, guessing at the future on past data. It's a joke.
Looks like you should go to college, nimrod.
@@StuckInOhio10 Maxine?
gET RID OF THE fED
Full of BS
The tedious cormorant shortly fire because cycle hemperly telephone before a rampant dog. erect, late flare
If fb made a competing currency it would only be beneficial
@SyzTeMaTiC competition produces growth... there is already hundreds in various exchanges libtard