.carney writes: Jerome Powell fires back at Liz Warren on Fed policy’s effects on unemployment. “Will working people be better off if we just walk away from our jobs and inflation remains five, six percent?”
The most entertaining scene in Tuesday’s Senate hearing on monetary policy was also its most enlightening, highlighting two opposing views of inflation and the underlying mechanics of the U.S. economy. | Economy
Senate hearing on monetary policySen. Elizabeth Warren (D-MA)Federal Reserve Chair Jerome PowellDescribing the Fed’s eight hikes over the past 12 months asWarren peppered Powell with questions about the effects of these hikes on American employment. She pointed out—correctly—that the forecasts of Fed officials at the December meeting of the Federal Open Market Committee (FOMC) see
by the end of this year, a full percentage point higher than it is today. That’s about.Powell: We’re Not Targeting Higher Unemployment
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There’s a new Reese’s in town, hold the dairy | CNN Business
Vegan Reese’s are happening. Read more >>
carney carney She speaks without thinking..
‘You Are Gambling With People’s Lives’: Warren Rips Powell Over Job-Killing Rate Hikes’What would you say to them?’ Warren asked the Fed chair of the estimated two million people who could soon be unemployed due to Fed policy. ‘How would you explain your view that they need to lose their jobs?’ SenWarren That and effectively raise the cost of borrowing for everything for everyone & every business.
Elizabeth Warren: Powell will get people ‘fired over the next year’Elizabeth Warren asks Fed Chair Powell to ‘speak directly’ to the people he’s ‘planning to get fired over the next year’ by continuing to hike interest rates The people need a better strategy. Too many lay offs. Not good.
Fed’s Jerome Powell, Sen. Elizabeth Warren clash in tense exchange over rate hikesFederal Reserve Chair Jerome Powell fired back at Sen. Elizabeth Warren in a tense exchange Tuesday over the potential impact of the central bank’s interest rate hikes. She wouldn’t need to rip him (i.e., put on a fake show) if Congress had a coherent fiscal policy. This is the other, much less used but more powerful, tool to battle inflation. Goodness, the arsonist is attacking the firefighter. In the times of Covid, they saved the economy and now they want to lead to a recession🤣
Powell: Interest rates are likely to be higher than previously anticipated | CNN BusinessThe Federal Reserve is prepared to increase the pace of its rate hikes if economic data continues to come in hot, Fed Chair Jerome Powell told the Senate Banking Committee on Tuesday as part of his semi-annual testimony. The crash is going to be harder than the great depression.
Takeaways from Powell’s congressional testimony | CNN BusinessFederal Reserve Chairman Jerome Powell was on Capitol Hill Tuesday for the first part of his two-day semiannual monetary policy testimony before Congress. LETS GO BRANDON It means your apartment living friends are gonna put home ownership on hold. New lending for mom and pop business is dead on the desk. In general, just some lackluster US living.
LARRY KUDLOW: Powell and Biden are getting ready to slaughter the small business sectorFOX Business host Larry Kudlow explains why President Biden’s decision to increase interest rates will have a negative impact on the economy, small businesses and inflation. Free markets were slaughtered in 2008 imo. No thank you Anyone notice that Biden is pushing relentlessly UNIONIZING ? The kickback must be abnormal hugh. That’s the only thing that makes sense of stomping out small businesses and GIG workers.