Trump is always working the ref’s!
His reassuring tone and delivery of new tools aka reports to assess how the Fed thinks seem to be well accepted by the machines , so far. He helped fill in some gaps re: overall state of economy.
DJ now hovering in mid to high 400s..
Still, by saying rates were slightly lower than the level he perceives as “neutral,” Powell’s statement appears to be suggesting at least one more interest rate increase is coming in the near future.
...
Too bad he won’t acknowledge that the yield curve is the best indicator.
What would happen if there were no Fed?
Jeez that’s a surprise lol
If we get to DOW 26000 again, I’m going to cash.
I’m too close to retirement and this market is exhausting.
IMHO, he had a much more hawkish tone throughout the speech than the often repeated "just below" normal rates. Things like:
Asset prices are overpriced (meaning he won't think it wrong when he brings them down faster than Hillary trying to walk).
Banks have a lot of liquid assets making them much more stable than they were in 2007 (meaning he thinks they can handle 2007 style rate hikes now better than they did then).
After 10 years of concentrated efforts in the public and private sectors, the system is now much stronger (meaning public and private sectors can handle the rate hikes).
Not with a completely brainwashed electorate happily accepting the most outrageous lies.
A “neutral” interest rate between more growth and more slowdown is a crock. The Fed should lean towards more growth which would be consistent with the Humphery-Hawkins Full Employment Act requiring it to work to make employment its primary goal.