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  • Powell: Fed rate hikes won't bring down gas or food prices

Added at 10:00am

Added at 10:00am

Added at 10:04am

So USD/JPy rallying continues toward 147
I'm watching the live meeting and senator Elizabeth Warren drilling the crap out of fed Powell, she`s a real bitch, but then again, she`s always been a bitch to everyone lol
Quoting Kennyxh20
I'm watching the live meeting and senator Elizabeth Warren drilling the crap out of fed Powell, she`s a real bitch, but then again, she`s always been a bitch to everyone lol
drilling as in...?
He is right. But something is bringing down Crude. Anybody has an idea what is happening to Crude? Been dropping hard for a few days now.
everything by design
EASY money comes from HARD learning
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The main purpose of the stock market is to make fools of as many men as possible. (Bernard Baruch, August 19, 1870 – June 20, 1965)
EASY money comes from HARD learning
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Quoting cs123
{quote} drilling as in...?
she`s asking him questions, some of which the fed as no power to control. she`s angry at him and blame him for the problems with the economy. Powell is trying to explain to her that he knows that inflation is high and he`s trying everything in his power to bring inflation down to 2% but she doesn`t want to hear that. and then senator Mike Rounds from south dakota stated, "fed Powell, i don`t understand what is going on, it seems everytime i see you inflation keeps going up" lol
FFS, go after all the oil drillers - this solve a big chunk of the problem instantly.

The more government dilly dally - the more they are going to hurt the rest of us, the peasants!!!
FED RATE HIKES WON'T BRING DOWN GAS OR FOOD PRICES...and everybody knows that nobody needs food or gas to work ...
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Quoting Banditten
He is right. But something is bringing down Crude. Anybody has an idea what is happening to Crude? Been dropping hard for a few days now.
Expecting a recession, which will lower demand in the future.
That's how oil is priced... by speculators, not oil companies.
Quoting Kennyxh20
{quote} she`s asking him questions, some of which the fed as no power to control. she`s angry at him and blame him for the problems with the economy. Powell is trying to explain to her that he knows that inflation is high and he`s trying everything in his power to bring inflation down to 2% but she doesn`t want to hear that. and then senator Mike Rounds from south dakota stated, "fed Powell, i don`t understand what is going on, it seems everytime i see you inflation keeps going up" lol
thank you!
In a nutshell, is the news hawkish or dovish???
Quoting cs123
{quote} thank you!
if someone say they are drilling you, it means they are giving you a hard time.
lmao one of the senator said powell might be the most powerful man in the world right now.
Quoting jordanvic
lmao one of the senator said Powell might be the most powerful man in the world right now.
HAHA yea i saw that. he also said because of inflation the people in his hometown are having it so hard that they are spitting out bones lol
Quoting Kennyxh20
{quote} HAHA yea i saw that. he also said that his people in his hometown are having it so hard that they are spitting out bones lol
yeah man. this is more entertaining than any show on Netflix
Quoting Sid.inc
In a nutshell, is the news hawkish or dovish???
dovish for usd, but hawkish for euro. so if you trade eur/usd then its hawkish
Quoting Banditten
He is right. But something is bringing down Crude. Anybody has an idea what is happening to Crude? Been dropping hard for a few days now.
Yea so it won’t directly bring down crude (rate hikes) but tighter money supply with always slow demand compared to looser policy.

If market is expecting a recession then it’s hard to be bullish crude. Despite supply of crude being herked and jerked. Could just be a pullback. Or traders getting stopped out. Hard to tell.

I don’t know if what he’s saying is doing anything. A lot of times big market participants need ANY news event for the liquidity to buy or sell. Usually why big bad news you’ll see rallies and vice versa. So if you’ve been waiting to sell crude. Enough to move the market a lot. When Powell talks ppl trade.
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Quoting Kennyxh20
{quote} dovish for usd, but hawkish for euro. so if you trade eur/usd then its hawkish
(The other way round)
Crude is going down because its at all time highs and needs a pullback. Also, there is an inverse correlation between the USD and Oil. That means if the USD gains in strength then Oil prices should fall, but if the USD is weak then Oil prices go up. Oil is the best gauge of dollar weakness but it is manipulated a lot just like Gold prices to keep USD pyramid scheme afloat cos all our fiat currencies rely on it. Honestly USD in the global currency market is like Bitcoin in the Crypto market. If Bitcoin fails it will bring down the whole crypto market (with a few exceptions) coz all the altcoins are dependent on bitcoin hype, same case if USD fails then all fiat currencies (with a few exceptions) will go down with it.
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Heads up everyone pull a price chart on crude, in late 2008 , off memory it hit close to $150 per barrel, yet gas per gallon didn’t break $5/gallon in Southern California at that time (2008).

Contrast with this month!

We touched $121/122-ish on crude and the price of a gallon in some areas of Southern California broke $7.00!!!

All quoted gas prices above for a gallon of 87 octane gasoline, the story for diesel is even worse !!!!

Note diesel is used by trucks, boats, and trains (I believe).
Quoting KimKim23
Crude is going down because its at all time highs and needs a pullback. Also, there is an inverse correlation between the USD and Oil. That means if the USD gains in strength then Oil prices should fall, but if the USD is weak then Oil prices go up. Oil is the best gauge of dollar weakness but it is manipulated a lot just like Gold prices to keep USD pyramid scheme afloat cos all our fiat currencies rely on it. Honestly USD in the global currency market is like Bitcoin in the Crypto market. If Bitcoin fails it will bring down the whole crypto market...
Ignore this guy.
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Quoting RideTheWave
{quote} Ignore this guy.
He sounds correct other than the "needs a pullback" aspect
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