We’re witnessing a soft landing piloted by Jerome Powell’s fine-tuning of the $ supply in circulation. Chronology of the soft landing as I see it: inflationary seeds planted The ill-conceived trade war started by the now convicted felon, in 2019, leading to bottlenecks to the global supply chains, which increase the cost of goods Russia invasion of Ukraine, which led to increased cost for wheat / cereal, in 2022, as well as gasoline Germination of the inflationary seeds Inflation had risen to just below 9% in late 2022 Fine-tuning of the $ supply in circulation to counter the inflationary pressure Fed raised the discount rate 11 times over the past 19 months, plus months of pausing Steading decline in the rate of increase in CPI steepest decline in inflation, in an 19-month period, ever the decline from almost 9% to the current 2.97% Jun 2024 was the first month, since early 2020, in which the rate of change was negative Amidst this inflationary fight, GDP continues to grow every quarter and unemployment still hovering around the low 4%, nearing historic low; thus, the soft landing. Kudos to Chair Powell and his monetarist colleagues! A job well done, albeit the false narratives being spinned, such as The Fed is wrecking its balance sheet The Fed is exploding alternative investments, etc
goin out on a limp, Powell will be nominated for a Nobel Prize in Economics, regardless of the outcome of the 2024 presidential election
understandable, there is an inverse relationship between the effectiveness of Fed policies and the price of bitcoins
the last time a Fed chair was awarded the Nobel prize in economic was Ben Bernanke in 2022; helicopter ben showed the world how to helicopter-rescue a cratering economy via QE, which provided the liquidity needed to counter the shrinkage of the economic pie. on the other end of the economic spectrum, using QT measures, Powell piloted the soft-landing of an inflationary economy
i believe it when i see it, The convicted felon says he would let Fed Chair Powell finish his term if he wins in November lest we forget, in his first term as POTUS, he did appointed the much taller Powell to succeed the short Janet Yellen as Fed chair. In 2019, Trump had called for lower interest rates, arguing the rate policy at the time put the U.S. at a disadvantage against other nations. He took to social media to criticize Powell
with Powell as the central banker, the defacto global fiat currency prevails over economic crises including the ill-conceived trade war global supply chain bottleneck and russian invasion of ukraine which has further interrupted global supply chain reduced reduced output of critical commodities like food and energy.
Over the past 21 months, the Fed has fine-tuned the US economy with 9 consecutive rate hikes, followed by 12 rate pauses. On a 12-month basis, in July 2024, the Consumer Price Index (CPI) cooled to 2.9%, down from 3% in June — the first time the index dipped beneath 3% since March 2021. the GDP has continued to grow every quarter, at a rate faster than the previous WH employment gains every month---avging > 100K---since Biden has taken office unemployment has declined from 6.3% (when Trump was fired) to the current 4.3% altho unemployment rate has increased each of the last 3 months what we have here is a soft landing, piloted by Fed Chair Jerome Powell This morning, in a keenly awaited speech at the meeting of central bankers in Jackson Hole, Wyoming, he said that “time has come for policy to adjust”. “The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks.” Powell will be nominated for a Nobel Prize in Economics
lol didn't Powell already declare victory 8 months ago? I haven't seen this much premature dry humping since @astros123 claiming Biden would destroy Trump in a debate at any date and any time.
What a dipshit loser you are. I never said Biden would destroy trump at any point. You're a low life moron
Well I'll be ****ing damn, you owe some members here bread... @Astrodome else you're no better than that ****-sucker @CrixusTheUndefeatedGaul
Such are the vicissitudes of being the Fed Chair Pandemic / shutdowns happened trump's ill-conceived trade war / inability to pass the infrastructure bill leading to a loss of ~2 million jobs during his 4 years in office to drive up demand for economic activities, artificially inducing inflationary pressure but the inflationary pressure was exacerbated by Russia Invasion of Ukraine, driving up the cost of commodities/farm products/oil Inflation rate reached a 40-yr high Economic illiterates parroting the false narrative of "the Fed is wrecking its balance sheet, ROFLMAO '
even tho the Convicted Felon is occupying the White House, this MAGA lawmaker from Louisiana is lauding the soft landing piloted by Fed Chair Jerome Powell, amplifying this message in a US Senate committe meeting, https://www.wsj.com/livecoverage/st...are-this-a-soft-landing--Rl4ae9KqS67FrYZvdY4c
Powell has done a fantastic job, I can only hope king musk doesn't go in and fire him and let his sidekick trump do any damage by lowering interest rates before were ready for that. I have a feeling with everything king musk is doing with help from his sidekick trump, interest rates will actually creep up and trigger a recession.
