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It’s been said that the war is not meant to be won; but what about America’s recovery from COVID-19? Hearing Fed Chair Jerome Powell speak last week as he held interest rates steady and continued with monthly billion-dollar asset purchases didn’t offer any assurances that victory is on the horizon. The way he uses the word recovery, a word he uses six times...
Who is going to resign to take responsibility for that? Not Jerome Powell, it seems. On his watch, the dollar has so far shed 23.8% its value in terms of gold, a constitutional specie (the other is silver). Nor, for that matter, will Janet Yellen, under whom the dollar shed more than 5% of its value. Nor did Ben Bernanke, under whom the greenback lost a staggering 53% of its value. Under Alan Greenspan, it was down 19% in gold.
Today we received some comments from the Chair of the Federal Reserve of the United States Jerome Powell, below is a summary of what he spoke on along with some key quotes. Inflation The supply-side constraints that are at the root of inflation have gotten worse. Before inflation can be brought down, supply bottlenecks must...
Unanimous consent would allow Democrats to raise debt ceiling with 50 votes
Sep 28, 2021 - 11:42:10 PDT
At today's Senate Banking Committee hearing, Sen. John Kennedy (R-LA) had a heated exchange with Sec. Janet Yellen over the debt ceiling.
The ink has barely dried on the Fed’s dot plot unveiled just a week ago, and the horoscope of how the stars may align on any tightening seems to have already gone awry.
When Fed Doves Get Hawkish: Balance Sheet Runoff Should Start at End of Taper, First Half 2022Sep 28, 2021 - 11:10:30 PDT
“Inflation could be a lot more persistent than we had hoped.”
Dow 40,000. While such a milestone seems optimistic, it is a huge disappointment to the promises made to investors about compound returns.
Check out this shocking data from Mike Maloney that shows exactly how much of USA’s economy the Federal Reserve now owns. Now bear in mind that this has happened so quickly, and by a form of counterfeiting…any sane person might ask ‘Are we living in the Twilight Zone?’
The 10-year Treasury yield continued its speedy climb on Tuesday, rising as high as 1.558%.
The U.S. trade deficit in goods increased in August amid a rise in imports as businesses replenished depleted inventories, suggesting trade could again be a drag on economic growth in the third quarter.
Sen. Warren Calls Fed Chair Powell a ‘Dangerous Man,’ Says She Will Oppose His RenominationSep 28, 2021 - 08:37:15 PDT
Sen. Elizabeth Warren charged Tuesday that Federal Reserve Chairman Jerome Powell has led an effort to weaken the nation’s banking system, and she vowed to oppose his renomination.
In mid August, Twitter Founder and CEO Jack Dorsey tweeted a strange hashtag: #WTFHappenedin1971.
‘Slowing M2 Money Supply Growth Often Leads to a Soft Patch in US Equities’Sep 28, 2021 - 07:23:36 PDT
Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 19.7% annual gain in July, up from 18.7% in June — the fourth straight month in which the growth rate set a record.
Brent oil roared above $80 a barrel, the latest milestone in a global energy crisis, on signs that demand is running ahead of supply and depleting inventories.
Treasury yields led global peers in soaring toward the highest levels since the start of 2020 amid ongoing prospects for Federal Reserve tapering and as investors awaited an auction of seven-year notes.
US Consumer Confidence Unexpectedly Plunges To 7-Month Lows As Optimism SlumpsSep 28, 2021 - 07:09:10 PDT
Having surged to pre-COVID levels in June, The Conference Board's consumer confidence index is expected to rebound in September from a two-month slide, but they were wrong as US Consuemr Confidence tumbled for the 3rd straight month to 109.3 (from 113.8 and well below the 115.0 expected).
Sep 28, 2021 - 07:07:59 PDT
Democrats are now relying on the same "dynamic scoring" technique they've previously criticized.
One day after NY Fed president John Williams (who apparently was not daytrading stonks and has not resigned unlike his Boston and Dallas Fed pals) warned of an “extreme” market backlash if the US debt ceiling is not raised (hitting even FOMC members’ wealth!) and just hours after Republican Senators blocked a Democratic Bill to raise it as was widely...