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Fed Chairman Powell speaks on monetary policy amid coronavirus pandemic – 7/29/2020

37 928 views | 29 Jul. 2020

Federal Reserve Chairman

Federal Reserve Chairman Jerome Powell speaks Wednesday following the central bank's two-day policy meeting. Powell provides an update on the Fed’s view on the economy and the extraordinary actions it has taken so far.

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Fed Chairman Jerome Powell speaks on monetary policy amid coronavirus pandemic – 7/29/2020

MrPeaceandLiberty

It's not surprising that Mr. Powell, in true banker yes-man form, publicly upholds the lie that the Fed, or any bank, is a "lending," institution.

We don't borrow money from banks, and not even the falsified laws that have been imposed upon us can demonstrate so.

Perhaps in part because the imposed monetary system provides no opportunity to assume debt without vastly multiplying even the initial obligation by interest, many people assume that risk is entailed in loaning a virtually costless money into circulation.

But even if it cost a whole ten cents to create $1,000 in computerized accounting records, then as soon as that mere ten cents is repaid, there is no possibility of loss on the part of the central banking system. If the principal alone is repaid and the privately held central bank can consider that money theirs, there is a ten-thousand-fold profit. If a first payment of just $10 is made on just one in a thousand such loans, then the central bank breaks even if the other 999 never make a payment.

There is no risk of loss to a central bank empowered to create money at virtually no cost whatever.

John Berry

BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

Alexis Ramirez

Powell: “slat”

Ashton Alfred

"we're going to destroy the dollar to kick the can down the road"

Andrew Baldwin

Michael McKee of Bloomberg asked Chairman Powell at the end of the press conference about the sharp rise in wealth inequality in the US brought about by the sustained very low interest rates that were part of Fed policy when the Great Recession hit. He wondered if there was not a tweak that the US Fed could make to its policy so that this didn't happen again, at least to the same extent. Powell's response was completely lacking in imagination, and amounted to a no. It was a pity, as one remedy is obvious. The US Fed's target inflation indicator, the personal consumption expenditure price index (PCEPI) is not at all sensitive to changes in house prices, which is also true of all the other major US inflation measures, including the CPI-U and the C-CPI-U. The US Fed should really be targeting a consumer price series with an owner-occupied price component based on a net acquisitions approach. This component should represent neither the net weight-net price variant used in the Australian and New Zealand CPIs, nor the net weight-gross price approach used in the experimental Eurostat owner-occupied price index series. Instead it should represent the gross weight-gross price variant, i.e. both weights and prices should reflect houses, not dwellings, except where real estate transactions themselves related strictly to dwellings. Powell should really wake up and smell the coffee. A proper analysis of the Great Recession would have clearly shown that the Fed's target inflation indicator was defective. How long is he going to live in denial?

Ronin Blackcode

WOW. This guy. He said NOTHING and by doing so said EVERYTHING. Those who know what I mean - this should scare the hell out of you.

Ivan Hidalgo

END THE FED! BUY GOLD!

just me

Jereome Powell is for the people

Arbitrader

Its funny how he makes it seen like everything was great before the scamdemic. Someone should remind him about the repo market implosion two months before the scamdemic. Never waste a good crises huh?

Anastacio Castro

Screw the FED buy Bitcoin.. bring true power back to the people of the world not central banks ..

Rich Diana

Donald Trump:"I have made a killing off this job."

Allien Maryam

I was referred to this platform by a friend online and i thought is a scam company,but i was moved to try and here i earned...just want to share this testimony on here
contact Charles_forex09 at instagram for guidelines

Lukas

I think its insane that people dont have enough savings to live even a month without pay

ZelenoJabko

Every time he lies, he coughs.

mrpmj00

I've bought Facebook, Microsoft, Apple, Google, Adobe, Alteryx, Wells Fargo.
TRUST THE PROCESS...The stock market goes up in the long term because it takes 2 steps forward for every 1 step backward.
Cash is trash, it loses out to inflation.

100% sure that the market will go up. Think about it, who would lend out their money and accept risk yet not get a
return?
If the Fed had not stepped in, then every investor would rather keep their money and not lend it out, which would crash
the country and we'd have 100% unemployment.

Lily creek

Solution= END THE FED!!!

Quattro 4

"I hope for the worst possible situation."

Wtf? Was this a freudian slip?

Lozza H

No questions about how or why they started the Repo Market back September 2019? It seems to have been linked to the known US debt default & known troubles of the $USD with a liquidity crisis

Lou Miraglia

Putin knows you don't need Rockets or Bombs to take down a Country, All you need to do id Put in the Right Fool.

Fred Grady

Don't you think direct stimulus would be a faster means of bringing the economy back to where it needs to be.

Gary M

END THE FED...

Eric Mckenna

All this s*** is scripted I'm out of here...

The Good Life

I'll just repeat myself endlessly saying the same thing again and again and again and again and.....

The Good Life

You can sum up this speach as 'the rich will continue to get richer, the poor poorer and we will continue to do everything in our power to ensure that this gap continues to widen'. Sweden never locked down - look at the stats [as they are all we have to go on]. Per capita they have not had that many more or less deaths than those countries in full lock down.

Bobby Yotsoubanh

Economy can’t last with the current up rising of deficit without holding big monopolies companies accountable for help paying taxes

mkd

Everybody seems to be aware it's a final countdown to the market crush. I predict Sept'20-Mar'21.

Ti M

anyone else catch his kondratiev wave Freudian slip?

Phil H

You just listened to an organization that is responsible for the collapse of the global financial system. Where are our journalists asking tough questions? We need you more now than ever.

blackbrook900

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SP3NT

Jpow is a beastt

James’ Garage

Temporarily generally means soon - not without a foreseeable time in the future

Cybr Friends

The GOP is in disarray when it comes to help the common folk. When it is about helping companies and donors, they are united and efficient.

Bobby Yotsoubanh

Start new Currency bank ? backed by real true assets Gold and Valuable stones

Tman6764

Wow once all this currency gets moving watch out and hold on to your crypto/ precious metal life rafts.

As for the unemployment it's not only blacks who lost their jobs, but also Asians, Hispanics and native Americans. It's like saying those other ethnic groups don't matter.

T H

9:38... That is the most flamboyant voice I've ever heard lol

Pete Walters

K shape recovery brought to by the Korupt Fed chairman Powell. What a joke. Now he has the audacity to say they are printing money for the little people. Can’t make this bs up.

Stuart Sinclair

Federal reserve and the MSN putting on a show for the gullible.

Fred Grady

Normal circulation would happen if people had the money to spend.

Crypto Code

BUY BITCOIN OPT OUT OF FED SLAVE SYSTEM. BITCOIN TO 100k 2021!!!

jamz throw back

child support should not be allowed or able to take anything out of our stimulus checks for current or back child support. It's not fair to either party for one parent to get a stimulus check plus a checked per dependent and the owing parent stimulus check as well. Leaving the parents that owes child support with nothing to survive that is just simply not fair. The whole purpose of the stimulus check is to make sure you are able to stay afloat just like everyone one else.

prongs82

please USD please Go up I need USD strong my position in GBPUSD stuck

Jupiter

Good to know the dollar swap aka Unemployment Benefits of $600 were extended thank God

Jupiter

“Darkness cannot drive out darkness: only light can do that. ...

CF 28

Mr Chairman, how many US Dollars do you estimate you can create before the world stops buying them? And for my follow up, what happens after that?

Eric Mckenna

Seems like he's heavily congested he might have a slight case of the covid-19 don't you think? Or just maybe he's a midnight toker?

EC CW

Can you say. Bye fed bye irs. Your history

bob_di_builder kxng_gio

Buy gold n silver

MrPeaceandLiberty

DOES RISK JUSTIFY SUBJECTING THE FEDERAL RESERVE NOTE TO INTEREST (USURY)?

Perhaps in part because the imposed monetary system provides no opportunity to assume debt without vastly multiplying even the initial obligation by interest, many people assume that risk is entailed in loaning a virtually costless money into circulation.

But even if it cost a whole ten cents to create $1,000 in computerized accounting records, then as soon as that mere ten cents is repaid, there is no possibility of loss on the part of the central banking system. If the principal alone is repaid and the privately held central bank can consider that money theirs, there is a ten-thousand-fold profit. If a first payment of just $10 is made on just one in a thousand such loans, then the central bank breaks even if the other 999 never make a payment.

There is no risk of loss to a central bank empowered to create money at virtually no cost whatever.

Doctor Horton

Jerry Garcia sighting at FOMC 11:20

PM Time

The Presstitutes throw him nothing but softball questions. It's all theater folks, and the actors are all demonic characters.

Reyes Lopez

Powell we need to hurry up and figure things out with UI benefits. Respectfully sir if we can't get this after yes of wrkng day in day out this is new to many of us. A father of 3 kids how do I explain to my kids we may not eat tmrw. Stimulus should be now. And recurrent. I've been waiting like many Americans for 2 months for my UI and nothing has been solved due to their work overload... we are scared,stressed,desperate,anxiety up the roof. I see alot of unnecessary things about to happen. We truly dont want money to buy stupid crap. With due respect sir we need money to catch up on Bill's and rent. Food that has gone up. We can't vacation...our vacation is to have our rent Bill's paid n food on the table. I pray you or someone can see this message from a very concerned and scared American. I dont even care even if y'all want to lend us the money with interest. Say u felt u can't afford it. America the richest Countey can't afford it. Allow us to borrow to survive.please help somehow someway! U have the power to release all Americans something Sir... I can't continue to wait on my UI you guys denied my EIDL according to my credit. How can I have good credit when I stopped paying things th at I could no longer afford....

ZTech

Banana republic

MrPeaceandLiberty

"Banking establishments are more dangerous than standing armies." ~Thomas Jefferson

Dave's Trades

Kinda hard to say there will be a V shaped recovery now...

Dorcas Bill

Mr Dennis @Dennis__forex09 has helped me and my family abundantly. I really wished I had known him earlier by now I know I would have made more than enough. I invested with him and made $6,000 in a week trade @Dennis__forex09 ⭕️n INSTAGRAM to start earning also.

Justin Cross

brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr

Eugene L

That's why we cannot trust a banker to save the country.

Erika Wells

The employment numbers may have gone up but let’s be honest for the average American worker most of those hours have been reduced which means they don’t have the ability to pay for every day necessities much less the bills the American people need A $2000 stimulus check for at least six months to get our families back on track with our finances please help us we truly need it!!! And to be honest a $1200 check is not enough to pay back most of our bills much less our rent stop giving billionaires more opportunity to make more money and give the American people The money they need right now please and thank you ?

Yankee Stacking

We are expecting the ARSONISTS to PUT OUT THEIR OWN FIRE ? Their “tools” are a BLOWTORCH and GASOLINE. ?

Fred Grady

Give us an example how congress has helped. And an example of how much more they have hurt the people. What I see is how they have failed .wait and see is not help.

Eric Mckenna

What Jerome Powell say is they will continue to purchase mortgage back securities and treasuries. This means they have yield curve control and they will be the owners and buyers of everything.... New world order is here people!

Ron

Power will give you.more worthless paper which is a bankers trick to thieve from you
They have been doing this since 1914 ring a bell. Wake up before you end up with 2 tons of worthless paper each.

Pong Kham

Democratize the money supply and you will end all Pandemic.

Mega Xenu

someone get him a glass of water

Troy Hampton

Bitcoin lessssgoooooo! Woot woot!

Eric Mckenna

They're not committed to public servants are committed to their private sick agenda.... The Federal reserve is demonic

RockfishDave

Woodrow Wilson: "I have unwittingly ruined my country"

Did Woodrow Wilson bitterly regret his role in creating the Federal Reserve?

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world — no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men."

ECONOMICS

To put it simply, all you are going to hear during this one hour video is money printer going brrrrrrrrrrrrrrrrrrrr.

MIAMIVICE MAMI

Jerome Powell is not an essential worker and the rich are leaches.

Zen Economics

The heat is sure turning up on the FED. People are wising up that they're the cause of almost every socio-economic problem in America.

Next fed chairman

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Fed Chair Jerome Powell holds news conference following Fed policy decision

25 723 views | 27 Jan. 2021

The Federal Reserve on

The Federal Reserve on Wednesday decided to keep interest rates at near-zero in its first meeting of 2021, extending the central bank’s easy monetary policy as the COVID-19 vaccine rollout continues.

“The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic,” the Federal Open Market Committee added to its updated policy statement.

The language replaces December language noting that economic activity and employment remain “well below their levels at the beginning of [2020].” The economy still remains more than 9.8 million payrolls short of its pre-pandemic level.

The central bank continues to see “considerable risks” to the economic outlook, but axed language from December that specifically pinned these risks to the “medium term” time horizon.

In another tweak to its December statement, the Fed added that it will watch “progress on vaccinations” with regard to the path of the economy.

In addition to keeping rates at near-zero, the Fed also said it plans on ending the previously-scheduled one-month term repo operations in the beginning of February, citing “sustained smooth functioning of short-term U.S. dollar funding markets.”

Fed watchers expected little to no action on Wednesday as the central bank defers to Capitol Hill and the White House on delivering further stimulus.

Fed Chairman Jerome Powell has said the support will be needed to bridge households and businesses into the post-pandemic economy, which economists hope will arrive by the second half of this year. Treasury Secretary Janet Yellen (Powell’s predecessor as Fed Chair) and the rest of the newly-minted Biden administration are pitching a $1.9 trillion package.

In the meantime, the Fed continues to purchase at least $120 billion in U.S. Treasuries and mortgage-backed securities each month, a pace that the FOMC will maintain until “substantial further progress” is made on the recovery.

Fed officials have been vague about what would qualify as “substantial further progress,” but the central bank has said its goals are to reduce shortfalls of employment while modestly overshooting its 2% target on inflation.

“If progress toward our goals were to slow, the guidance would convey our intention to increase policy accommodation through a lower expected path of the federal funds rate and a higher expected path of the balance sheet,” Powell said in a press conference Wednesday.

As the first policy-setting meeting of the calendar year, a new cast of the FOMC members have rotated into voting roles. All of the 12 reserve bank presidents participate in the meetings but only four have votes in the final decisions. For 2021 those four presidents are Atlanta’s Raphael Bostic, Chicago’s Charles Evans, Richmond’s Thomas Barkin, and San Francisco’s Mary Daly.

New York’s John Williams and the Federal Reserve Board’s six governors in Washington are permanent voters. This week’s meeting marks the first for Christopher Waller as a Fed governor.

The decision on Wednesday was unanimous among the FOMC voters.

The Fed’s next scheduled policy-setting meeting is scheduled for March 16 and 17.

Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz.

For more on this article, please visit:

https://finance.yahoo.com/news/fed-fomc-monetary-policy-decision-january-2021-150120049.html

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Hydross 77

We could hyperinflate and he would say we are at .6% still...

Joel Bondurant

Bitcoin > Terrorist Paper

Michael Brown

Someone get him a glass of water

Marinca Gheorghe

A great discussion !

pangmeister

When fed is asking for inflation, it is really asking to lower the minimum wage.

Josef Jochem

End the fed

spybotist

A bunch of traitors....crashing the market. Killing our purchasing power

Chris M

The biggest driver of asset prices has everything to do with the Feds ability to adjust interest rates and money printing.

Your policies induce people to make stupid decisions like taking on more risk than one otherwise would if interest rates were allowed to float outside of the Feds control.

The planners are beginning to sweat and I can hear it in his voice.

David Burke

If you want 2% price inflation (which is exponential price increases, which is the opposite of price stability) just measure the CPI accurately.

R. W.

That deep breath at the beginning - getting ready to lie through his teeth.

Scottie Johnson

PayPal @scottiejohnson1993 any donation would be greatly appreciated. Trying to recover from the worst year of my life.

Andrew Beresh

It was not the sickness that caused bussiness to closed it was government forced shut downs this leader has no clue.

Krypto Kyle

Wallstreetbets is coming for you next! SHORT THE BANKS, LONG BITCOIN

Guillermo 1991

The only tool the Fed has is to make the money printer go BRRRRRRRRRRR!!!! The virus was deliberately dispersed so the Fed can get closer to their final plan. The Treasury and Fed balance sheets will eventually merge. I'm surprised nobody asked about the Digital Fiat Dollar, that too is coming.

mrpmj00

buy Wells Fargo, AMAZON, FACEBOOK, NVIDIA, APPLE
DON'T drive at all and work remotely.
capitol riot means a covid19 petri dish; we need another lockdown.
we have Amazon Prime streaming and don't need to travel or go to a commercial theater and avoid covid19, mass shooting (gun
sales doubled in 2020), police killing nonwhites like George Floyd, and exploding RVs like in Nashville, capitol rioters
bringing pipe bombs

YouTube Sucks

TO THE MOON!!! ????

Dean Sacca

The "Tribe" owned private international banksters...controlling your life...and owning this country since 1913.....

Ace Ventures GmbH

Economies will gradually progress when the vaccines ? reach masses leading to reversal of restrictions- travel ? will open , consumer spending would grow and jobs will eventually come backed by liquidity in markets .... future is bright .

Kyla Pendley

You are a tool. The banks did NOT do well in the last crisis, most had to be bailed out which drove the dollar valuation down substantially. You will keep printing that money though.

lgmnow kondo

his mouth is so dry....I am sure there is something going on that he is not telling us about!

Next fed chairman

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Watch Federal Reserve chair Jerome Powell's opening remarks on efforts to ensure economic recovery

15 103 views | 16 Dec. 2020

Jerome Powell, Federal

Jerome Powell, Federal Reserve chairman, delivers his opening remarks on why the Federal Reserve decided to leave interest rates unchanged following its two-day meeting. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi

The Federal Reserve dialed up its economic expectations slightly for the end of this year as well as for 2021, according to the central bank’s Summary of Economic Projections released on Wednesday.

The central bank now expects real gross domestic product to fall just 2.4% in 2020, compared to a decline of 3.7% predicted in September. The Fed also upped its 2021 real GDP forecast to 4.2% from 4.0% expected previously.

The Jerome Powell-led Fed estimates the unemployment rate to fall to 6.7% this year, further below the 7.6% previously predicted. The unemployment rate should fall to 5.0% in 2021, compared to the central bank’s previous estimate of 5.5%.

The Federal Open Market Committee said in its statement Wednesday that it would continue to buy at least $120 billion of bonds each month “until substantial further progress has been made toward the Committee’s maximum employment and price stability goals.”

The Fed kept its inflation estimates for 2020 unchanged at 1.2%. The FOMC now sees PCE inflation running to 1.8% next year, slightly above its previous estimate of 1.7%.

Core PCE inflation is expected to come in at 1.4% this year, down slightly from September’s projection of 1.4%. Next year, core PCE inflation is estimated to reach 1.8%, up from September’s forecast of 1.7%.

The Fed decided to keep interest rates unchanged in its December meeting after slashing them to near-zero in an emergency meeting in March due to the fast-spreading coronavirus.

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Jason March

Blah, blah, Jawboning, jawboning, "I can't control the monetary system. Hopefully we have inflation" I.e. Buy some Bitcoin

Expert10 Alltime

Buy bitcoin

Stoyan Denkov

Pls stop my Bitcoin is pumping like crazy!!

alaknayfati

He literally sounds like an AI. What a puppet. Anyone could’ve read that script. Get on with your microchip and digital fed coin already. we all know it’s coming ? #buybtc

Baby Hulk

?? bullion

Space Oddity

You have been printing dollars like a freaking madman. In this year alone 20% of all the total dollars in existence were printed...... No wonder all assets priced in USD are pumping. That is great for anyone who owns assets. But it does absolutely nothing for the people at the bottom of the pile who just want a job

Timothy Little

The Fed's ignorance of inflation will not be bliss

Dustin Weaver

How much control does the fed really have in monetary policy in a global economy ? BTW it is a global economy I counted at least four comments saying buy bitcoin. How will this trend affect the purchasing power of the dollar ?

Sherry Frailey

No it wont if yall dont giv us our damn money that u keep holding from us that we desperately need yall r just too damn greedy n dont care

garyseeseverything

Free fed money for the rich zero interest rates forever while the poor get smashed!

Space Oddity

Inflation is wayyyy over 2%. You are looking at the wrong metrics. You need to look at education costs, medical costs, cost of rents, cost of home purchases, the cost of money in order to generate a fixed income stream.


All these costs have gone up massively.




Even every day basics like gasoline, a big Mac at McDonald’s, construction materials and other things have also gone up way more than 2%.



Come down from your ivory tower and take a look around the real world. You are just making the rich richer by pumping the markets.

Michelle F

enough of the talk, ink some bills to help people.

XRP the standard

BUY CRYPTO

Diego Ikeda

This charts was made on paint windows right??

Fodi

버블키우는 일루미나티 따까리세끼

Brandon

Who is his audience when he speaks like this?

Fart Jackson

Quit scrubbing comments cowards.

Luke McKee

This guy runs a private institution owned by banks, controlling intrest rates.... who is he really working for

gc1282

XRP can save us. Buy XRP while it's cheap.

Bob Dollar 937

Fed Chair Jerome Powell is not credible because he let President #45 coerce him into making the United states Stock Markets which are Personal Investments and Private Savings Accounts for the country's wealthy 2% the only viable place to make money leaving the Working Class Americans with no place to make money off their savings because Savings Account went to 0% interest.

Crystal Huffman

Thank you! God bless America! Stay strong Americans!

Space Oddity

You need to do a massive Government jobs program NOT a stock market pumping program.

rda llierPaga

2:44 Beautiful ??love u??

Patrick Bateman

PAPA POWELL GO BRRRRR????????????????????????????????????????????????????????????????????????????????????????

Space Oddity

Print more billions to pump the markets! Pump crypto! And turn the dollar to trash. And oh don’t forget to give the little people some chump change

Brittany Ericsson

Big business is what you help not us.

Bush Man

Daddy Powell, I need a loan for my business man hook a brother up

Sander Van Alphen

Buy Bitcoin

Kevin Ford

All lies and BS.
They really do think that everyone is stupid and that they can't see the truth ?

Hydross 77

Everything up 10%, but don't worry no inflation....

Housing market went nuts.... fully recovered is all....
This guy is destroying the dollar... get rid of him...

Brittany Ericsson

God your numbers and my life sure don't match.

R R

Bitcoin will replace you and make its holders wealthy

John Markham

A game of divide and conquer, We the people, stand against the election fraud cover up because it's not going to go away until everyone knows the truth.