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Fed Chair Powell: Rates Will Rise Until ‘Job Is Done’ Bringing Down InflationAug 26, 2022 - 07:41:05 PDT
“We will keep at it until we are confident the job is done,” Powell said in remarks delivered at the Fed’s annual conference in Jackson Hole, Wyoming.
Thank you for the opportunity to speak here today. At past Jackson Hole conferences, I have discussed broad topics such as the ever-changing structure of the economy and the challenges of conducting monetary policy under high uncertainty.
Aug 26, 2022 - 06:47:34 PDT
Watch live coverage of remarks from Federal Reserve Chairman Jerome Powell at the annual central bankers’ symposium near Jackson Hole, Wyo.
Watch Live: Fed Chairman Powell Speaks at Jackson Hole Symposium: 8/26/22 10:am ESTAug 26, 2022 - 06:47:34 PDT
Watch live coverage of remarks from Federal Reserve Chairman Jerome Powell at the annual central bankers’ symposium near Jackson Hole, Wyo.
Aug 26, 2022 - 06:37:01 PDT
University of Chicago economist and Nobel Laureate Richard Thaler says he doesn’t see anything that resembles a recession in the U.S. It used to be that economists would see two consecutive quarters of negative Real GDP growth and say “recession.” But apparently not economists like Thaler. But at least the Atlanta Fed’s GDPNow real GDP tracker is pointing to weak growth for Q3 at 1.379%.
Fed's Favorite Inflation Indicator Cools Modestly From 40-Year-Highs, Savings-Rate Hits 13-Year-LowAug 26, 2022 - 06:11:14 PDT
And we suspect Powell's messaging of further hikes and more pain to come will mean less saving and more credit card spending to cover the cost of living... and that doesn't end well for anyone.
President Biden and his top advisers have been adamant that the consumer is exceptionally strong this summer despite the economy slumping into a technical recession. Well, maybe in aggregate, the consumer appears healthy, but numerous retailers pointed out that less-affluent ones are tapped out.
It is only through organised, united protest that ordinary people will have any chance of meaningful impact against the new world order of tyrannical authoritarianism and the devastating attacks on ordinary people’s rights, livelihoods and standards of living that we are witnessing.
As the Federal Reserve continues to raise interest rates, the impact is being increasingly felt in the housing market. And in today's video, Dave Kranzler of Investment Research Dynamics goes through some of the data and trends that have emerged that show the weakness in the sector, and why he feels they will continue to accelerate.
The Other Shoe Drops: Blackstone Landlord Halts Home Purchases In 38 Cities As Market CrashesAug 26, 2022 - 05:47:39 PDT
One month after we reported that home prices finally dropped for the first time in year, an observation echoed yesterday by Black Knight which also found that home prices had fallen for the first time in 3 years last month - in the biggest decline since 2011 - we knew the other shoe in the ongoing housing crash was set to drop any minute.
Data this week on new home sales and pending home sales reflected sharp drops from last year and showed the impact higher interest rates continue to have on prospective buyers.
In the meantime one might pretty declare that central bankers can’t be trusted as a result of it’s they who helped stoke asset worth inflation, an enormous build-up of debt and thus laid the bottom for the 2008 monetary disaster.
European Central Bank rate-setters expressed mounting concern that the weak euro will feed higher inflation, which some feared may not be tamed even in an energy supply crisis, when they met last month to raise interest rates for the first time in more than a decade.
Aug 26, 2022 - 05:32:14 PDT
In an exclusive interview, Bridgewater's chief investment strategist discusses how the world's largest hedge fund is counseling clients as the Fed battles inflation.
A key question: Why are official interest rates so low if inflation is dangerously high?
Mexico’s central bank board is debating how closely to follow US interest rate rises, as members grapple with slowing growth and the fastest inflation in two decades.
Stock futures slipped Friday morning as Wall Street awaited a highly-anticipated speech by Federal Reserve Chair Jerome Powell at the U.S. central bank’s economic symposium in Jackson Hole.
This week, President Biden announced a plan to forgive $10,000 to $20,000 in student loan debt. It sounds nice and some people will certainly benefit, but as SchiffGold Friday Gold Wrap podcast host Mike Maharrey explains, we're all going to pay for this. In this episode, Mike also talks about Jerome Powell's upcoming Jackson Hole speech, the state of the economy and some interesting gold market news.
Gold prices edged higher on Thursday as the dollar slipped, while investors looked forward to a speech by Fed Chair Jerome Powell at the Jackson Hole symposium.
World's Largest Hedge Fund Warns "You're Not Going To Be Able To Avoid" Pain From Fed's ActionAug 25, 2022 - 12:49:13 PDT
The Fed faces a "tough dilemma", warns Greg Jensen, co-CIO of Bridgewater Associates, noting that they are going to have to keep raising rates despite the fact that the economy is slowing.