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  • Powell testifies to Congress on the economy and how the Fed plans to fight inflation

    From youtube.com/cnbctelevision

    Federal Reserve Chair Jerome Powell on Thursday testifies before the House Financial Services Committee on the U.S. monetary policy and the state of the economy.
Powell will tell you what you want to hear ...
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  • Edited at 12:42pm Jun 23, 2022 12:30pm | Edited at 12:42pm
The whole country in the world is experiencing an increase in inflation rate not only US. But Fed is trying to seriously reduce the increase in the rate of inflation to the target of 2%, while many countries are not ready to get to the case, including the ECB is not ready (Russia vs Ukraine war is a major problem for the ECB)
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Quoting hesron
The whole country in the world is experiencing an increase in inflation rate not only US. But Fed is trying to seriously reduce the increase in the rate of inflation to the target of 2%, while many countries are not ready to get to the case, including the ECB is not ready (Russia vs Ukraine war is a major problem for the ECB)
Yes you are right but aussie face it brilliantly, without the risk of recession. Whole country in this world should learn from rba how they manages to survive this inflation
Quoting Guest
{quote} Yes you are right but aussie face it brilliantly, without the risk of recession. Whole country in this world should learn from rba how they manages to survive this inflation
Not so fast there cowpoke... The Aussie's may know how to "manage" inflation but they really SUCK at Covid-19 with isolation camps and countrywide shutdown's.

But really their economy (as compared to EU/US/GBP) is much smaller so it's easier to get things accomplished. What also helps them is that they are a commodity exporter so the inflation actually "helps" them.
2fxsport so what do you want to see the fed do? I'm curious.

I'm kinda of the mind that the FED thinks it CAN control the economy, and It's my belief that if they can't reign in congressional spending for example, that there isn't much they can do to meet their own expectations, without making things worse. and they are certainly not about to tell congress they need to cut out their spending sprees so they get re-elected. It's not the only thing in play, but it's not an insignificant reason why there is so much excess $ inflating prices.

What else do you look at to read the tea leaves? long term....
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    Fed's Powell: We have an unconditional commitment to fighting inflation

    From @DailyFXTeam|Jun 23, 2022|4 comments

    tweet at 10:29am: Fed's Powell: - We have an unconditional commitment to fighting inflation - The labor market is unsustainably hot tweet at 10:29am: POWELL: SIGNIFICANTLY MORE CHALLENGING TO BRING DOWN INFLATION WITHOUT IMPACTING THE LABOR MARKET tweet at 10:35am: FED'S POWELL Q&A: SOME OF INFL IS OUT OF FED'S CONTROL, LIKE ENERGY; EUROPEAN COUNTRIES HAVE VARYING HIGH RATES OF INFLATION; FED HAS TOOLS VS DEMAND #Powell #federalreserve tweet at 10:36am: Fed's Powell: - The impact of shrinking the balance sheet will be marginal compared to impact of rising interest rates - US inflation is a consequence of very strong demand tweet at 10:42am: POWELL: OUR INTENTION IS TO ACHIEVE A SOFT LANDING POWELL: PATH TO DO THAT HAS GOTTEN MORE AND MORE CHALLENGING

    Nagel: Return of inflation: What do we learn from survey data?

    From bundesbank.de|Jun 23, 2022

    I am delighted to open the policy session of this year’s Joint Spring Conference. I would like to thank you for accepting our invitation to come to Eltville and present your work and share with us your thoughts on households’ and firms’ expectations and their relevance for monetary policy – the topic of this year’s conference. This is already the second conference on households’ and firms’ survey expectations, co-hosted by the Bundesbank and the Banque de France. The previous Joint Conference on this topic took place almost three years ago. A short space of time under normal circumstances. But in light of the global events that have overwhelmed us during these past three years – the pandemic and Russia’s war on Ukraine – it’s almost like another era for many. tweet at 10:30am: ECB'S NAGEL: RISK IS RISING THAT INFLATION EXPECTATIONS GET DE-ANCHORED; SEES RISKS TO PRICE STABILITY ECB'S NAGEL: ECB MUST NOT FALL BEHIND THE CURVE AS THAT COULD REQUIRE BIGGER RATE HIKES LATER WITH GREATER ECONOMIC COST

    Natural-gas futures fall by more than 5%; EIA reports a weekly rise in U.S. natural-gas supplies

    From marketwatch.com|Jun 23, 2022

    The U.S. Energy Information Administration reported on Thursday that domestic natural-gas supplies rose by 74 billion cubic feet for the week ended June 17. That compared to an ...

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