Powell: Review and Outlook

Powell: Review and Outlook

From federalreserve.gov

Four and a half years after COVID-19's arrival, the worst of the pandemic-related economic distortions are fading. Inflation has declined significantly. The labor market is no longer overheated, and conditions are now less tight than those that prevailed before the pandemic. Supply constraints have normalized. And the balance of the risks to our two mandates has changed. Our objective has been to restore price stability while maintaining a strong labor market, avoiding the sharp increases in unemployment that characterized earlier disinflationary episodes when inflation expectations were less well anchored. We have ... (full story)

Added at 9:02am

*FED’S POWELL: THE TIME HAS COME FOR POLICY TO ADJUST
— DB News TradFi (@DBNewswire) August 23, 2024

Added at 9:02am

*FED’S POWELL: DONT SEEK OR WELCOME FURTHER COOLING IN LABOR MKT
— DB News TradFi (@DBNewswire) August 23, 2024

Added at 9:02am

*FED’S POWELL: MY CONFIDENCE HAS GROWTH THAT INFLATION ON SUSTAINABLE PATH BACK TO 2%
— DB News TradFi (@DBNewswire) August 23, 2024

Added at 9:07am

Fed's Powell: Thew policy rate level gives ample room to respond to risks, including unwelcome further weakening in the labor market.
— Markets & Mayhem (@Mayhem4Markets) August 23, 2024

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Silver-King

Aug 23, 2024 9:15am

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Death of the USD just signed by Powell. So indeed, the game is to put the world in a horrible hyper-inflationary depression. Well, now the Gold doesn't look that bad at 2500$ and Silver at 30$ does it?
Ain't going to look bad at 5000$ and 100$ as well.

Luxyus

Aug 23, 2024 9:21am

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Federal Reserve Chairman Jerome Powell gave clear signals that the central bank will cut its interest rate in the September meeting during his speech at the Jackson Hole Economic Symposium. The Chairman noted that the US labor market is cooling quickly following the softer jobs report from July and the downward revision to payrolls this week. Powell also noted that the FOMC has gained further confidence that inflation is slowing to the central bank’s 2% target, warranting a clear view that it is time to adjust monetary policy to less restrictive conditions. The speech followed minutes from the Federal Reserve, which suggested that most Fed policymakers agree that it will be appropriate to lower the Federal funds rate this quarter.
29 seconds ago

hotaggie98

Aug 23, 2024 10:21am

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Quoting frioslegend

Disliked

{quote} Really? With the current Dovish symposium by Powell?

Ignored

Yep, I said this before, the only reason that he would cut rate in Sept is if he wanna say goodbye to his job next year. The FED will not do anything until after the election. Mainstreet numbers are not as rosy as the cooked numbers (we're not going to go into this - it spoke for itself). FED will not waste a bullet knowing that next year, they'll have to lower rate fast and furious (if Trump wins). More likely, Harris might win because they have the recipe to rig the election. Let's not get into politics here because we will just argue until the cow comes home. I do not give one f*ck who wins the election. I'm a trader and that is my assessment. Opinion is like asshole, everyone has one

Enjoy your Friday!

The Fool

Aug 23, 2024 11:01am

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Quoting Momofrmnyc

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This just means the stock markets get to make a new all time high with this info.

Ignored

imho this will boil down to NVDA earnings and the next NFP. The upside for stocks in the next 2-3 months is limited, might include new ath's, but we are going to hit a wall of election worry. To me, fade the rip mode.....

umbrella man

Aug 23, 2024 12:57pm

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The problem is not they want to cut now, the issue is the Fed increased the rate but almost all the time Fed was dovish, so it really did not take care of the underlying inflation problem. We observed all time high in the stocks and housing while we were in so called restricted monetary policy. Ironic. I’m eager to see if they start cutting now how bad the second wave of inflation will be? Fed is playing with fire here. The second wave of inflation may ignite the social unrest. Why we even have Fed. End the Fed. Why we even have Powell still as chair. He was the one who screwed up in 2020. I’m concerned about the future of this country.

hesron

Aug 23, 2024 9:14am

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yes ... agree ... still dovish

Bakker

Aug 23, 2024 9:24am

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Last year I predicted a gold price of $2500, now it seems it will go much further.

Banditten

Aug 23, 2024 9:04am

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Here comes the cuts. Very dovish so far.

Banditten

Aug 23, 2024 2:44pm

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Soon markets will find out that FED is cutting because things are in the wrong ditection. I am shorting these news. We will see.

Mafia

Aug 23, 2024 9:35am

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USD shall turn bullish sooner than later.

Momofrmnyc

Aug 23, 2024 9:22am

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This just means the stock markets get to make a new all time high with this info.

frioslegend

Aug 23, 2024 9:45am

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Quoting hotaggie98

Disliked

NO Rate cut in Sept!!! See you in 2025

Ignored

Really? With the current Dovish symposium by Powell?

Tshepside

Aug 23, 2024 11:22am

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Quoting hotaggie98

Disliked

{quote} Yep, I said this before, the only reason that he would cut rate in Sept is if he wanna say goodbye to his job next year. The FED will not do anything until after the election. Mainstreet numbers are not as rosy as the cooked numbers (we're not going to go into this - it spoke for itself). FED will not waste a bullet knowing that next year, they'll have to lower rate fast and furious (if Trump wins). More likely, Harris might win because they have the recipe to rig the election. Let's not get into politics here because we will just argue...

Ignored

Are you a conspiracy theorist??
Dollar been Dovish since 11 July so rate cut in September is 99.9999999999999% possible
C'mon now
But I kinda agree with you because of the elections
This is kinda tough

Trader#4A39

Aug 23, 2024 9:25am

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Quoting Silver-King

Disliked

Death of the USD just signed by Powell. So indeed, the game is to put the world in a horrible hyper-inflationary depression. Well, now the Gold doesn't look that bad at 2500$ and Silver at 30$ does it? Ain't going to look bad at 5000$ and 100$ as well.

Ignored

I doubt it... investors have been anticipating the demise of the dollar due to cuts for so long that theyve already brought it down a lot... shortly after the cuts start they will be anticipating the end of the cutting and send the dollar flying