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Keyword: jeromepowell

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  • WH projects $1 trillion deficit for 2019

    07/16/2019 10:00:43 AM PDT · by DoodleDawg · 76 replies
    The Hill ^ | 7/16/19 | Niv Elis
    The White House projects that the federal deficit will surpass $1 trillion this year, the only time in the nation's history the deficit has exceeded that level, excluding the four-year period following the Great Recession. "The 2019 deficit has been revised to a projected $1.0 trillion," the White House Office of Management and Budget (OMB) wrote in its midyear review. As a candidate, President Trump promised to wipe out not only the deficit but the entire federal debt, which has surpassed $22 trillion. Republicans cast aside projections that their 2017 tax reform law would add $1.9 trillion to the deficit...
  • Fed Chairman Jerome Powell’s Approach to Interest-Rate Policy Wins Bipartisan Backing

    07/09/2019 4:42:10 AM PDT · by reaganaut1 · 35 replies
    Wall Street Journal ^ | July 9, 2019 | Nick Timiraos
    President Trump’s relentless public criticism of the man he picked to run the Federal Reserve, Jerome Powell, isn’t broadly shared by lawmakers who confirmed the central bank leader to his post last year. The Fed chairman heads to Capitol Hill for two days of testimony beginning Wednesday, and lawmakers on both sides of the aisle have mostly commended the job he is doing. In interviews, they declined to endorse Mr. Trump’s call for the Fed to cut interest rates and said they would oppose efforts by the president to remove Mr. Powell from office. Mr. Trump is angry Mr. Powell...
  • Fed remains unchanged on rates, pledges to 'sustain the expansion'

    06/19/2019 12:01:45 PM PDT · by Hojczyk · 16 replies
    Yahoo Finance ^ | June 19, 2019 | Brian Cheung
    The Federal Reserve did not move on rates at the conclusion of its policysetting meeting June 19, but committed itself to acting “as appropriate to sustain the expansion.” The Fed elected to keep the benchmark interest rate within its target range of 2.25% to 2.5%, but new economic projections show more Fed officials seeing the case for a rate cut — or two — by the end of 2020. The Fed said it still sees a “sustained expansion of economic activity, strong labor market conditions, and inflation near” the committee’s 2% target, but added that “uncertainties about this outlook have...
  • Despite Mainstream Media Claims: No Doom and Gloom Behind Low Interest Rates

    06/11/2019 4:29:48 AM PDT · by Kaslin · 6 replies
    Townhall.com ^ | June 11, 2019 | Ken Blackwell
    The stock market is rebounding on the news that the Federal Reserve is considering an interest rate decrease, but some commentators are spinning this as a sign of economic calamity.“We are closely monitoring the implications of these developments for the U.S. economic outlook and, as always, we will act as appropriate to sustain the expansion, with a strong labor market and inflation near our symmetric 2 percent objective,” Federal Reserve Chairman Jerome Powell said Tuesday.Experts widely interpreted this as an indication that the Fed may soon implement a rate cut after raising rates steadily over the entire course of Donald...
  • Trump blames Fed once again for hurting economic growth

    05/28/2019 7:35:18 AM PDT · by Moonman62 · 27 replies
    Fox Business ^ | 5/25/19 | Megan Henney
    While speaking at a meeting of Japanese business leaders in Tokyo, Trump said the stock market would be anywhere between 7,000 to 10,000 points higher if the U.S. central bank had chosen to keep interest rates steady. He also suggested that the growth rate in the U.S. would have exceeded 3 percent. "But they wanted to raise interest rates," he said. "You’ll explain that to me." Trump, despite hand-picking Chairman Jerome Powell more than a year ago, has been a frequent critic of the Fed, often urging policymakers to cut interest rates from the current target range of 2.25 percent...
  • No, Trump Can’t Fire Me, Fed Chair Jerome Powell Says

    03/12/2019 2:15:32 AM PDT · by DeathBeforeDishonor1 · 45 replies
    Barrons ^ | 3/12/19 | Connor Smith
    Federal Reserve Chairman Jerome Powell hasn’t said much about President Donald Trump’s frequent criticism of the central bank. But in a new interview, Powell made clear there’s one thing Trump can’t say to him: “You’re fired.” “The law is clear that I have a four-year term,” Powell said on CBS’s 60 Minutes, in an interview that aired Sunday night. “And I fully intend to serve it.” Pressed on whether Trump has the authority to fire him, Powell said, “no.” Powell declined to answer questions about Trump’s unorthodox criticisms of the Fed, saying it wouldn’t appropriate for him to comment on...
  • Fed Chair Jerome Powell Crashed Trump Stock Market, Cost US Billions In New Debt, Trillions n Wealth

    02/28/2019 2:10:02 PM PST · by Enlightened1 · 46 replies
    GP ^ | 02/28/19 | Jim Hoft
    The US economy and markets hit several historic records in 2018. President Trump was correct in his policy and the economy was never stronger. Then in October Federal Reserve Chairman Jerome Powell stepped in and destroyed the outstanding gains. The market tanked, the Dow Jones dropped over 5,000 points, the Middle Class was decimated and the global markets are now in chaos. The Jerome Powell stock market crash is now GREATER THAN the market crash after 9-11. The guy is a dangerous lunatic. The Dow is down 5,036 in December from its all-time high on October 3, 2018. Since Jerome...
  • Dow surges 800 points after Powell comments, blowout jobs report

    01/04/2019 10:17:27 AM PST · by abb · 86 replies
    CNBC ^ | January 4, 2019 | Fred Imbert
    Stocks rallied on Friday after two positive pieces of news for the market. At 8:30 a.m., the Labor Department said the U.S. economy added 312,000 jobs in December. That blew past an expectation of 176,000 jobs. Later on Friday morning, Federal Reserve Chairman Jerome Powell said the central bank will be patient in raising rates, quelling fears of tighter monetary policy in the near future. The Dow Jones Industrial Average rose 800 points, or 3.5 percent. The S&P 500 rallied 3.5 percent, with the tech sector gaining more than 4 percent. The Nasdaq Composite climbed 4.3 percent. This was a...
  • Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump

    12/27/2018 11:52:59 AM PST · by COUNTrecount · 135 replies
    Daily Mail UK ^ | December 27, 2018 | Francesca Chambers
    Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him Dow Jones closed up 1,086.25 points, or 4.98 per cent, on Wednesday It was the stock index's largest single-day points gain in U.S. history Follows biggest-ever Christmas Eve plunge for markets on Monday White House officials tried to soothe fears over Trump's fury at Federal Reserve He's upset about rate hikes and reportedly said he wanted to fire the fed chair Federal Reserve Chairman Jerome Powell is now telling the White...
  • Financial analyst describes Fed chair Powell as ‘train wreck under the Christmas tree’

    12/26/2018 3:53:06 PM PST · by SleeperCatcher · 9 replies
    The National Sentinel ^ | 12/26/18 | USA Features
    The U.S. markets in December have taken a beating, posting the biggest losses for the month since 1931. In all, the Dow Jones Industrial Average is off more than 3,300 points from its Sept. 21 high of 26,656.98 (though the index has risen about 500 points on the day Wednesday). The Dow’s losses are tied to a number of uncertainties, we are told, including the trade war with China, the current partial government shutdown and, some believe, the fact that Democrats won the House in November and the Trump economic miracle is likely to be stymied.
  • Trump administration pushes back on report Trump could fire Fed chairman

    12/22/2018 3:49:27 PM PST · by E. Pluribus Unum · 18 replies
    Washington Examiner ^ | December 22, 2018 06:41 PM | Updated Dec 22, 2018, 06:42 PM | Colin Wilhelm
    The Trump administration pushed back Saturday against a report that President Trump is considering firing Federal Reserve Chairman Jerome Powell. In two tweets posted on Saturday evening, Treasury Secretary Steven Mnuchin said that he'd spoken to Trump about Powell on Saturday, and that Trump told him, "I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.” White House press secretary Sarah Sanders told the Examiner that she's, "aware of no plans,” to fire Powell in an email. Trump is unhappy with Powell and the Fed over continuing interest rate hikes to the...
  • Fed Chairman Powell sends markets soaring with suggestion rate hikes may slow

    11/28/2018 9:49:22 AM PST · by mandaladon · 18 replies
    WaPo ^ | 28 Nov 2018 | Damian Paletta
    Federal Reserve Chairman Jerome Powell on Wednesday suggested the central bank could be close to slowing down the pace of its recent interest rate increases, saying rates are now just slightly below what he considers a “neutral” level. His comments marked a sharp change from his position last month, when he said the Fed still had a “long way” to go before it reached that equilibrium. U.S. stock markets soared on Powell’s comments, as he appeared to signal that the Fed would not move forward aggressively to raise rates much further than it already has. Still, by saying rates were...
  • Can the President Fire the Fed Chairman? How Trump Could Fire Powell And Rebuild The Fed

    11/28/2018 1:28:02 PM PST · by SeekAndFind · 100 replies
    Forbes ^ | 11/28/2018 | Patrick Watson
    In recent weeks, Trump criticized Federal Reserve Chairman Jerome Powell several times. He doesn’t like that Powell is leading the Fed to raise interest rates.Past presidents avoided such comments so they wouldn’t appear to be interfering. But Trump doesn’t care about appearances.The Fed is somewhat insulated from electoral politics. The chair and board members have fixed terms. Its composition changes slowly... but it doesn’t have to.Tucked away deep inside the Fed’s founding law is a provision Trump could use to completely rebuild the Federal Reserve Board of Governors.Markets should pay attention. I don’t think they are. Breaking Precedent A common perception, even among Fed...
  • CNBC’s Jim Cramer: Maybe Fed Chair Powell Wants Trump To Lose

    10/30/2018 2:42:16 PM PDT · by Rusty0604 · 22 replies
    Breitbart ^ | 10/30/2018 | John Carney
    Popular CNBC personality Jim Cramer said Tuesday that Jerome Powell’s determination to keep raising interest rates may be a signal that the Fed chairman wants to undermine President Donald Trump’s agenda. “Maybe he wants Trump to lose,” Cramer said on the financial news networks’ “Squawk on the Street” program. Cramer has been saying for several weeks that the Fed should halt rate hikes after December. The Fed has hiked rates three times this year and is widely expected to hike rates again at its December meeting. The Fed’s projections show central bankers expect to keep raising rates in 2019.
  • Trump Flunks Fed Politics: Bashing Jay Powell makes it harder to keep interest rates low.

    10/25/2018 8:03:13 AM PDT · by reaganaut1 · 15 replies
    Wall Street Journal ^ | October 24, 2018
    ... [N]o Fed Chairman can afford to be seen by markets to be taking interest-rate dictation from the White House, and when they do it typically ends in tears. See Arthur Burns under Richard Nixon and G. William Miller under Jimmy Carter. Alan Greenspan and Ben Bernanke were also too cozy politically with administrations in power, but that influence was mostly behind the scenes. Poor Mr. Powell has the harrowing task of managing the transition from the largest experiment in monetary-policy history. Mr. Bernanke and later Janet Yellen enjoyed the ride down to near-zero short-term rates and unprecedented bond-buying to...
  • Trump Steps Up Attacks on Fed Chairman Jerome Powell

    10/24/2018 5:31:51 AM PDT · by reaganaut1 · 53 replies
    Wall Street Journal ^ | October 23, 2018 | Michael C. Bender, Rebecca Ballhaus, Peter Nicholas and Alex Leary
    WASHINGTON—President Trump escalated his attacks on Federal Reserve Chairman Jerome Powell, saying the head of the nation’s central bank threatened U.S. economic growth and appeared to enjoy raising interest rates. In an interview Tuesday with The Wall Street Journal, Mr. Trump acknowledged the independence the Fed has long enjoyed in setting economic policy, while also making clear he was intentionally sending a direct message to Mr. Powell that he wanted lower interest rates. “Every time we do something great, he raises the interest rates,” Mr. Trump said, adding that Mr. Powell “almost looks like he’s happy raising interest rates.” The...
  • Trump attacks ‘loco’ US Federal Reserve after worst stock market sell-off in months

    10/11/2018 7:49:48 AM PDT · by SeekAndFind · 64 replies
    Yahoo News ^ | 10/11/2018 | Justin Sink
    Donald Trump hit out at the Federal Reserve on Wednesday, accusing them of “going loco” over interest rate hikes this year, hours after the worst US stock market sell-off since February. Mr Trump said in an interview on Fox News that the market plunge was not because of his trade conflict with China, instead blaming the US central bank. “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous. The Fed is going loco.” He added: “They’re so tight. I think the Fed has gone...
  • Fed chief: U.S. in 'extraordinary times' with low unemployment, little inflation

    10/03/2018 7:16:27 AM PDT · by yesthatjallen · 12 replies
    The Hill ^ | 10/03/18 | BY MICHAEL BURKE
    Federal Reserve Chairman Jerome Powell said this week that the combination of low inflation and low unemployment shows that the U.S. economy is in "extraordinary times." “This historically rare pairing of steady, low inflation and very low unemployment is a testament to the fact we remain in extraordinary times,” Powell said in a speech Thursday. “I was asked at last week’s news conference whether these forecasts are too good to be true — a reasonable question.” "From the standpoint of our dual mandate, this is a remarkably positive outlook," Powell said. "Since 1950, the U.S. economy has experienced periods of...
  • HAPPENING NOW: Stock Market Hits an ALL TIME HIGH Following Trump's Successful NAFTA Deal

    08/27/2018 1:35:39 PM PDT · by UMCRevMom@aol.com · 87 replies
    patriotbeat.com ^ | August 27, 2018 | CNBC
    Thank you, President Trump! The stock market is soaring, thanks to Trump’s announcement that the U.S. and Mexico have reached a trade deal! CNBC Stocks jumped on Monday as the United States and Mexico closed a new trade deal. Investors also digested reassuring comments from Federal Reserve Chair Jerome Powell on the central bank's policy-tightening path. The Dow Jones Industrial Average rose 260 points as Caterpillar outperformed. The Nasdaq Composite climbed 1 percent to an all-time high, breaking above 8,000 for the first time, as Facebook, Amazon, Netflix and Alphabet rose. The S&P 500 gained 0.8 percent to hit a...
  • Dow falls nearly 750 points as trade fears rattle investors

    04/06/2018 12:07:02 PM PDT · by Beave Meister · 12 replies
    CNBC.com ^ | 4/6/2018 | Fred Imbert and Alexandra Gibbs
    Traders work on the floor of the New York Stock Exchange (NYSE) on March 23, 2018 in New York City. Stocks plunge more than 500 points 47 Mins Ago | 02:18 Stocks fell sharply on Friday as worries of a trade war brewing between the U.S. and China grew. Wall Street also digested disappointing employment data. The Dow Jones industrial average fell 740 points, with Boeing and Caterpillar as the biggest decliners in the index. The S&P 500 declined more than 2.5 percent, with industrials as the worst-performing sector. The Nasdaq composite dropped 2.7 percent. The sell-off accelerated in the...