tyb
coming next
jerome powell speech and transcript
plus first impressions from b.i.s anon.
remember
This rate cut is for the coming elections, if djt wins, they will pull the rug.
FINANCE IS A GUN, POLITICS IS KNOWING WHEN TO THE TRIGGER
o7
FINANCE IS A GUN, POLITICS IS KNOWING WHEN TO PULL THE TRIGGER
ARCHIVING - JEROME POWELL STATEMENT ON THE DROP OF 50 POINTS INTEREST RATE 18TH SEPTEMBER 2023 !!!
Note: Anon will go through this and give a summary later.
some notes,
1) gdp (included government spending) is not the same as gdp per captia, (per person)
2) the jobs report needs to be seen, there was a leaker who stated that 818,000 were added which did not exist and the fact that the majority jobs are going to immigrants and those who support the deep state, government jobs have increased by the business jobs have been reduced due to cutbacks and a.i
3) The inflation rates are not a reflection on the value of the dollar and what it buys plus the cost of essentials like food, storage, delivery and economy.
4) he will be reducing government bonds, (need moar research as how that impacts the markets).
p.s will go through some of the other terms of the word salad that jerome used during the speech and the acronyms.
p.p.s runtime 50 minutes, jerome powell speech is 7 mins and 53 seconds only.
LIVE I Jerome Powell Speech LIVE I US Fed Rate Cut LIVE
https://youtu.be/rATNs1ONLS0
----–
0:07 good afternoon n uh my colleagues and I remain squarely focused on achieving our dual
0:13 mandate goals of Maximum employment and stable prices for the benefit of the American
0:18 people our economy is strong overall and has made significant progress toward our goals over the past 2 years the labor
0:26 market has cooled from its formerly overheated state inflation has eased
0:31 substantially from a peak of 7% to an estimated 2.2% as of August we're committed to
0:38 maintaining our economy's strength by supporting maximum employment and returning inflation to our 2%
0:45 goal today the Federal Open Market Committee decided to reduce the degree of policy restraint by lowering our
0:52 policy interest rate by a half percentage point this decision reflects our growing confidence that with an
0:59 appropriate calibration of our policy stance strength in the labor market can be maintained in a context of moderate
1:06 growth and inflation moving sustainably down to 2% we also decided to continue to reduce
1:13 our Securities Holdings I will have more to say about monetary policy after briefly reviewing
1:19 economic developments recent indicators suggest that economic activity has continued to
1:26 expand at a solid Pace GDP Rose at an annual rate of 2.2% in the first half of
1:32 the year and available data point to a roughly similar pace of growth this
1:38 quarter growth of consumer spending has remained resilient and investment in equipment and intangibles has picked up
1:44 from its anemic Pace last year in the housing sector investment fell back in
1:49 the second quarter after Rising strongly in the first improving Supply conditions have
1:55 supported resilient demand and the strong performance of the US economy over the past year
2:01 in our summary of economic projections committee participants generally expect GDP growth to remain solid with a median
2:08 projection of 2% over the next few years in the labor market conditions
2:14 have continued to cool payroll job gains averaged 116,000 per month over the past
2:20 3 months a notable step down from the pce seen earlier in the year the
2:25 unemployment rate has moved up but remains low at 4.2%
2:30 nominal wage growth has eased over the past year and the jobs to workers Gap has narrowed overall a broad set of
2:38 indicators suggests that conditions in the labor market are now less tight than just before the pandemic in
2:44 2019 the labor market is not a source of elevated inflationary
2:50 pressures the median projection for the unemployment rate in the SCP is 4.4% at
2:55 the end of this year 4/10 higher than projected in June inflation has eased notably over the
3:02 past 2 years but remains above our longer run goal of 2% estimates based on the Consumer Price
3:09 Index and other data indicate that total pce Prices rose 2.2% over the 12 months ending in August
3:17 and that excluding the volatile food and energy categories core pce prices Rose
3:24 2.7% longer term inflation expectations appear to remain well anchored as
3:29 reflect in a broad range of surveys of households businesses and forecasters as
3:34 well as measures from financial markets the median projection in the SCP for total pce inflation is 2.3% this
3:42 year and 2.1% next year somewhat lower than projected in
3:48 June thereafter the median projection is
3:53 2% our monetary policy actions are Guided by our dual mandate to promote maximum employment and stable PR for the
CONTINUED
4:00 American people for much of the past 3 years inflation ran well above our 2%
4:05 goal and labor market conditions were extremely tight our primary focus had
4:12 been on bringing down inflation and appropriately so we are acutely aware
4:17 that high inflation imposes significant hardship as it erodes purchasing power
4:22 especially for those least able to meet the higher costs of Essentials like food housing and
4:28 transportation our restrictive monetary policy has helped restore the balance between aggregate supply and demand
4:34 easing inflationary pressures and ensuring that inflation expectations remain well
4:40 anchored our patient approach over the past year has paid dividends inflation
4:45 is now much closer to our objective and we have gained greater confidence that inflation is moving sustainably toward
4:54 2% as inflation has declined and the labor market has cooled the upside risks to inflation have diminished and the
5:01 downside risks to employment have increased we now see the risks to achieving our employment and inflation
5:07 goals as roughly inbalance and we are attentive to the risks to both sides of our dual
5:14 mandate in light of the progress on inflation and the balance of risks at today's meeting the committee decided to
5:19 lower the target range for the federal funds rate by a half percentage point to 4 4 and 3/4% to
5:26 5% this recalibration of our policy St will help maintain the strength of the
5:31 economy and the labor market and will continue to enable further progress on inflation as we begin the process of
5:38 moving toward a more neutral stance we are not on any preset course
5:44 we will continue to make our decisions meeting by meeting we know that reducing policy
5:50 restraint too quickly could hinder progress on inflation at the same time reducing
5:56 restraint too slowly could unduly weaken economic activity Andy employment in considering additional
6:02 adjustments to the target range for the federal funds rate the committee will carefully assess incoming data the
6:08 evolving Outlook and the balance of risks in our SCP fomc participants wrote
6:14 down their individual assessments of an appropriate path for the federal funds rate based on what each participant
6:20 judges to be the most likely scenario going forward if the economy evolves as
6:26 expected the median participant projects that the appropriate level of the federal funds rate will be 4.4% at the
6:32 end of this year and 3.4% at the end of
6:37 2025 these median projections are lower than in June consistent with the projections for lower inflation and
6:43 higher unemployment as well as the changed balance of risks these projections however are not
6:49 a committee plan or decision as the economy evolves monetary policy will adjust in order to best promote our
6:56 maximum employment and price stability goals if the economy remains solid and
7:01 inflation persists we can dial back policy restraint more slowly if the
7:07 labor market were to weaken unexpectedly or inflation were to fall more quickly than anticipated we are prepared to
7:13 respond policy is well positioned to deal with the risks and uncertainties that we face in pursuing both sides of
7:19 our dual mandate the FED has been assigned two goals for monetary policy maximum
7:26 employment and stable prices we remain committed to supporting maximum employment bringing inflation back down
7:33 to our 2% goal and keeping longer term inflation expectations well angered our
7:39 success in delivering on these goals matters to all Americans we understand that our actions affect communities
7:45 families and businesses across the country everything we do is in service to our public Mission we at the FED will
7:53 do everything we can to achieve our maximum employment and price stability goals thank you I look forward to your
rest us retarded questions from the selected morans from the msm financial lapdogs
>>21617505, >>21617522, >>21617526 Jerome Powell Speech LIVE I US Fed Rate Cut LIVE - Source, transcript, dough and anon brief opine bun
>that's just the way the cookie crumbles
someone say cookie crumble.
don't forget 10% for the big guy