Understandably, Americans are frustrated about the housing price but US housing market is better than many other developed countries.

Try not to equate middle-class with owning a home. Owning a home is a sign of social status, and its partially why homes are overvalued. And also it just happens to be cheaper to rent than to own rn-

@@supersleepygrumpybearbut if you buy and maybe pay 10-20% more monthly, one day when you are too old to work, you will have no mortgage payments and be able to rest.

The "nobel" class doesn't want a thriving middle class. Never has, and never will. They'll keep us around just above starving, at least those they want to keep.@@supersleepygrumpybear

You are clearly wrong… we could clearly see the middleclass being replenished real time in the second report

They are chasing The American Dream Let them live

that's about right

Only specific items. The US is pretty good at collecting and releasing data accurately to the public. If you think there is a discrepancy, I'd recommend looking at the fine print and maybe use a different metric to reflect a picture more true to you.

The US is also pretty good at revising data. Don't believe everything you see. Especially anything related to inflation.

I notice though that a lot of the general public are not listening closely to Powell's carefully chosen words. For example, I've heard many use this interview to say incorrectly that the US budget is putting the US on the path to financial ruin and certain disaster. Not true, Powell clearly says that the US is on a long term unsustainable path but is not telling Congress and the US that the problem has to fixed today and all at once. It should be pointed out that a main reason for the current US budgetary "unsustainable path" is due to the cost of money aka interest rates affecting the affordability of refinancing debt. First, most of the US National Debt is in 10 year Treasury notes, so the Congress has about that long or a little less (or more) to chart a different path forward regarding debt. It should be pointed out that not long ago when interest rates were exceedingly low that the US probably actually made money on increasing the National Debt... For the fixed cost of a fraction of a point interest per year, the US GDP was growing about 3.5% compounded annually. Financial conditions have changed, and it's probably prudent for Congress to adjust accordingly but there is no reason to go crazy and adopt something like a balanced budget all at once which would inflict harm by suddenly terminating a number of beneficial programs.

Now, we can opt out of their system by saving in Bitcoin.

@@johnqlunchbucket Where do you keep your bitcoin? Where did you buy it? Are you lending it? If you are, by which platform? Do you think internet will be there for you if system wants you out?

The American voters can only blame ourselves for the state of our politics. We are reaping what we have sowed. So it begs the question, American voters.......how stupid are we?

Well said!

@@johnqlunchbucket Unfortunately, the admirable dream of Satoshi Nakomoto may have been decades ahead of its time. We're talking about a fundamental shift in conscious thought with regards to money and a level of trust that is beyond the trust that backs the current fiat currency model. Bitcoin has left its days as an answer to the failures of 2008 a while ago.

They're restrained by the law, and a people who choose Rule of Law wants its law enforcement to follow the law and not do unlawful things that could be criminal. In any case, it's not the illegal entry that is dangerous to the safety of the United States, it's the prospect that anyone entering the US is unidentified and running around unknown. If the Border Patrol picks up illegal immigrants for processing, identification and screening, there is little risk of some terrorist entering the US

Just like the cops during Jan 6

@@emjay2045 what's January 6?

Chairman Powell like many of those who are adults in our government are the ones you almost never hear from. It's the loud blowhards who want to tear the country apart. The criticism behind his response to inflation is valid though and credit to him for owning up to it.

You mean easily pressured Jerome Powell. 45 sure made him back down when he was in ofc. Not impressed at all. He's playing that shell game for the rich and super rich.

@@whysaywhyx7100 💯

If they (FED) hadn't driven it into the ground for the last 20 years of free money juice policy leading us here.... yeah. Sure give ol' boy a back pat.

Aka… we’ll continue to print new money as long as it takes lol

I think that the integrity part is having separation of the fed and politics. He’s doing a good job given the situation.

They lost their integrity a long time ago. ABOLISH THE FED!!

@@jdesign918ideally for you what would that like like for interest rates who would control it

Its because of corporate greed

It's called saturated dollars.The government can only make money in an inflationary environment not a deflationary economy

@@MarcosAlvarado_that’s a reductive argument

The fed really didn’t have a choice. COVID really put a jolt through the system. The path we took was the safest and fastest to recovery actually. Things cold have been much much worse.

Exactly and Yellen keeps saying wages are going up... tell that to older people on fixed incomes who relied on a stable dollar.

Not only a total lie possibly due to unsophisticated understanding, that's inflammatory. "Printing money" is typically what happened by a number of countries in the 20th century, and it often led to Latin Inflation and worthless currency. It's even considered a main cause of Germany's world wars due to "wheel barrows of currency" needed to buy groceries. Hardly any country today "prints money" out of thin air due to those lessons. Today nation Central Banks instead borrow from future income streams, and that's entirely different. Unlike potentially unrestrained "printing money" you can't borrow money unless someone is willing to lend it to you. Central Banks aren't able to sell debt in their national currency unless lenders believe in your ability to repay that debt and this becomes the barrier against irresponsible and reckless economic management. This is why and how nations can raise money to do necessary things (and even unnecessary but using debt to do that is unwise). The US is able to sell T-bills backed by the US easily because everyone believes the US economy has the capability and will to repay those debts when due and on time. Other countries like Turkey have a much more difficult time doing the same because their economies aren't sound but you won't find even countries like Turkey (and Pakistan and others) "printing money" because once people suspect that's happening there would be a loss of confidence in that currency and the economy would collapse quickly.

Many people thought 'printing money' would lead to inflation; but to their surprise, inflation has come down drastically as supply chains resumed supplies... although I still see evidence of greed keeping some prices going up (housing, restaurants maybe?), it's good to see most food prices are back down. New car prices are still too high, although it's nice to see gas prices stable, even low.. perhaps increased EV use has helped bring gas prices down..

@@optiskeptic4746 Greed? No, inflation is very much a problem. I don't see prices going down. Here in San Diego I'm still paying over $5 a gallon for gas, and everything else is up more than 30% higher than 3 years ago.

Coincidentally, Walmarts profits are also up, and wages aren’t going anywhere. Corporate greed is choking us to death.

Information doesn't exist anymore

The reality is that banks do the most "money printing." The Fed just sets "commercial banks borrow and lend their excess reserves to each other overnight" (Investopedia). Also, The Fed doesn't create low paying jobs; Wal-mart, Amazon, Target, Home Depot do. Why do they do it? To get loans from the banks... because if they actually paid their workers a fair wage- then their bond rating will go down, their share price will decrease, they won't be able to get (as many) loans, etc.

More jobs were not created they just filled the job void that COVID mandates created. These people lie by omission and count on you not recognizing it.

He tried but Trump said that the feds don't know what they're doing if they want to raise rates, so he was pressured not to.

Boy are you mixing up topics. Housing prices have nothing to do with any currency devaluation and I think you're very mistaken about any Dollar devaluation. On a daily basis the Dollar can fluctuate but overall the Dollar is pretty strong against practically every currency in the world. I think I remember some practically unknown African currency outperforming the Dollar but that would have to be a special situation and not likely for long. Nothing today competes with the King Dollar, not other fiat currencies, not any precious metal and not crypto.

No

@@weloc what no?

You can talk about inflating the amount of currency but that's not anywhere close to what inflation is. And inflation is more than just price inflation, and there are many types of inflation... You can start with supply side, producer vs consumer inflation and go on from there.

​@@welocUnintelligent comment, people listen to you because you're so smart!

​@@tonysu8860, The supply|demand side of inflation is something that will ebb and flow. The inflation resulting from the central bank monetary system is ever constant and persisent...hence the reason today's dollar is worth pennies, maybe less, when it comes to spending power. To open an interview with the Federal Reserve chairman with "Inflation is tumbling" "Is inflation dead" is to suggest that the Fed has the ability to reduce and or eliminate the same, which simply is not true. The Fed is the beneficiary of monetary interest, without monetary inflation, the Fed would not exist. To @deguldenmiddenweg895's point, the money supply is the single greatest issue when it comes to inflation. There is nothing that distorts and weakens the notional value (spending power) of everyday nominal representation of money (the U.S. dollar) than monetary inflation.

Stay the course and never get out of the market and don’t fight the FED.

because you dont understand debt in this context, so you're asking a stupid question without realizing it. debt = treasury bonds.

He asks a smart question that ends in a Socratic loop down to the source and that is the FED has scammed this idea to include and only include foreign investor interests, not yours. End your mind if you never pondered the thought

First and foremost, because it's stupid to do so. To understand this, consider first why the US got into debt in the first place. Although the comparison is imperfect it has similarities to a young person buying first home and car. it's the concept that you don't want to live your entire life working to build up cash savings before you buy your home near the tail end of your life. You instead want the benefits of buying a home as soon as possible to enjoy those benefits early and more during your life. Same for buying a car, it should be obvious that getting to work and back quickly and being able to do more personal things increases your personal productivity and enjoyment of life. Same concept applies to the US government going into debt, it's to provide government services today instead of waiting decades to provide those benefits to your children. Your children along with all other citizens benefit because you can provide a better life raising your kids and the community prospers more than if everything had to wait until it can be paid in cash. Once the government goes into debt, then eventually when that debt becomes due a decision has to be made... Either pay off that debt(as you suggest) or refinance that debt at new rates and "kick that can down the road." Yes, the US has the capability and ability to pay off that debt and it's been done before during the Clinton administration although the debt was much smaller then. Paying off the debt means that money wouldn't be spent on other programs. What would you give up? Cheaper healthcare and medications? Cheaper electricity rates in the future? Better roads? Food? Something else?

@@JustinBuildsThings😂😂😂😂😂😂😂😂😂😂

@@tonysu8860 I'm sorry do you just like to type? I think we're both belong the grade school explanation for why they might have had good intentions but you and I know damn well what they're doing isn't like comparing credit scores on our end, so cut it. If you want to gloss over my statement that's fine but don't pretend like you're too scared to answer simply cause it flew over your simple mind

except that with continued high rates, USD is strengthening.

Did you watch that on KZfaq too?

He's lying!

@@Peekaboo-Kittytrump stopped the Republicans from signing the bipartisan deal. Trump said so. Other than that he has nothing to run on. Most things are doing better without him

If there is no budget who will put up his own money?

It’s amazing how blatantly they lie to people and they eat it up.

YES! The president, if he wants lasting policy, must have Congress approval on everything! See, this is the problem. People think the US president is this almighty dictator and he is not. When are we going to finally understand that it does not matter who is in the White House - that's all TV drama. What matters in a representative democracy is what Congress is doing.

If you are going to quote Thomas Jefferson like he is some authority on the subject you should at least use something he actually wrote.

Let’s talk sources. Was the word “homeless” often used in TJ’s day?

Fake news, @JohnDaniels. Why make 💩 up?

Private Banks ... [Spurious Quote] www.google.com/search?q=Private+Banks+Thomas+Jefferson+%28Spurious+Quotation

Question is why aren’t they cracking down on the drug dealers that are selling drugs and the addicted using them in the middle of the public with kids walking around.

They lie to deceive you and benefit themselves.

AI is going to take more jobs than ever before in history. We need to prepare for that.

US unemployment figures have always been about anyone who wants to work and never about the entire population. There are many reasons not to work and some are disabilities. Job creation and destruction is a natural part of any economy and should not be considered an anomaly or anything special as you suggest. The Pandemic might have caused more job losses than normal in a shorter amount of time but it's a natural occurrence in capitalism and free market economies. The point though is that not only were a great many jobs and businesses preserved through the Pandemic, the US economy has created a good many more jobs. Humans have to be adaptable during times of crisis and the Pandemic is no exception. Working at 3 temp jobs is one option. Improving skills and getting a job that likely pays higher Wages due to being unfilled (a big problem overall today) is another.

43😂😂😂😊

Jesus. Do you think you could pick something a little more current to make your point ?

It’s natural to print more money if you have more population. If you want fiscal responsibility in a president, you may have to go back to clintonomics. He was one of the few presidents that shrank our national deficit, but he and his wife were very effectively scapegoated and vilified for matters caused by others. But who cares about logic, everyone thinks politics is a game and all that matters is our team “winning” which means the country loses.

​@@MRantzWII'm with you... Old facts are worthless!

🙄 Some CANNOT work

@@emjay2045 the they'd be on disability, not unemployment.

All baloney and propaganda by the Oil industry and their supporters. The bottleneck in US oil production isn't extracting crude from the ground, its the refining step. The price of crude in the US is manipulated by controlling how much crude is extracted. The US has enormous crude resources both by drilling in Alaska and shale practically all across the mainland US but particularly in Pennsylvania and the Midwest. Any time the US oil industry wants to increase crude oil extraction, they just hire another shale team and they have more crude in about a month or two. The oil industry wants Keystone because Canada is willing to sell their tar sands oil for cheap and the oil industry like profits. Same thing for opening new fields in Alaska, more drilling rigs and more pressure in new fields mean more profits. But in no way is there a shortage of crude oil resources in the US, only refinery shortages which are sometimes intentional and sometimes not. The oil industry in general doesn't want to build any more US refineries because they're expensive and only 25 years of guaranteed production justifies building a refinery. The oil industry sees Green taking over long before 25 years so building a new refinery isn't economically justified, in fact if a decision is made today to build a new power plant powered by fossil fuel or any renewable source, it's actually a cheaper decision to choose the renewable source. Bottom line is to listen and understand what is being said. If you're interested in cheaper electricity bills and US security, don't support the oil industry projects unless there is really good reason. Make them explain why a Keystone is really needed instead of just taking their word.

Nicely put.

Me too. Those days are gone.

How many decades ago was that?

about 3.7

There are two parties responsible for inflation. The federal government and their policies and fiscal policy. Keep voting democrat and then cry why we have super high inflation. Its very simple, if you vote for democrat that means you are voting on more governmental spending for more government programs. If you vote republican they are cutting government spending which means less pgovernment programs. Do your research and choose besides "orange man bad" as a reason.

Powell took a very cautious approach to raising interest rates tiny increments at a time over about 2 years. He was trying to avoid what his predecessors Volker and Greenspan did which was to raise rates a substantial amount suddenly which shocked the system and almost consistently resulted in a following recession and high unemployment. So, at least for today and the limits of our understanding of macroeconomics... You have a choice. The old, traditional way that results almost certainly in killing businesses and jobs for at least a half year(sometimes up to 5 or so years) but more likely more than a year causing mass unemployment and suffering or The new option Powell has pioneered that results in much higher interest rates and possibly for a much longer time while practically ensuring no jobs are lost, unemployment remains low and large numbers of Americans aren't suffering from total lack of employment.

@@BoobtitsCatsI am afraid Trump won’t be able to help it much either. Everything has already gotten out of hand. We need a deflation but then everyone including the government will default on their debt. We are in a terrible place.

The problem is the way the border patrol law is written in combination with a broken immigration processing system that could have made strides to fix if the Republicans didn't just vote down the bi-partisan legislation Langford negotiated for the Republicans. The legislation left out a lot of stuff the Dems wanted for immigration reform like DACA but still the Republican caucus won't support legislation that would have gone a long way towards fixing the border problem. So no, simply the Federal government buying the land probably wouldn't fix that problem because the problem isn't access or jurisdiction... It's practically everything else about the problem like legal circumstances for arrest and the processing that comes afterwards.

Employment rates dipped in the small 2022 bear market, however since then it has been going up steadily as inflation has calmed. Labor/blue collar jobs are in much higher demand currently and are hiring, whereas office/white collar jobs are slowing down and laying off folks.

Like what @MrMrCario said. If you're in BLUE collar jobs you have it made especially if your in Union. Either way labor jobs are growing and there's not enough people applying for the much needed Renewable energy economy. Those wind turbines don't get installed or maintained by itself. After all they're man made so it'll need maintenance and repairs.

​@@robertlee8805 that would be lovely, except knowing you are going to get that rejection email.. again..

DING DING DING. This is not recovering, it's being centralized faster than ever before.

That was a common observation years ago but I haven't heard it discussed recently. That might still be happening particularly in certain sectors. But, temp or part time job increases might also be a natural evolution of work in general. A more productivity is based on technological advances, old jobs die out and new jobs are created, typically at a much faster rate. Technology in many parts of the world is growing at double digit rates which translates to chronic job openings and labor shortages and shorter employment should often mean increasing wages for the worker that constantly keeps himself relevant. Of course not all jobs are technology related, and I'd assume that as those jobs lose value they'll gradually disappear or a company might hire cheapest labor possible. Bottom line is that if you're young and full of potential, don't stay where you are if the community isn't investing in infrastructure and attracting tech businesses. For millennia there has always been a migration of young from the backwards rural to the job opportunities in the city and Conservative rural areas can complain all they want but humankind has been that way since they started living together in groups and not as solitary individuals.

That's why everyone wants to come here 🤷🏽‍♂

What are you shaking your head at? 🤔

US biggest export is the US dollar. The world exports goods to the US and the world receives dollars they can trade with on the global market in return. No other country can print money like the US does, without it having a negative effect of the currencies value, it's a huge privilege. On the other hand, it undermines US competitiveness and increases US trade deficit.

@@pistolen87 Exactly! The dollar printing doesn't matter when every other world bank pegs their currency to the USD. Especially US bonds and T-notes, which are held as collateral. In fact, going back to a gold and silver backed currency is ridiculous at this point harkening back to the bank-runs of the late 1800s (The Long Depression). All commodities, gold, silver, wheat, etc., are financialized through ETFs like everything else (Yep, even Bitcoin now; BRICS we're coming for you) The reality is, is we're in a new day and age of complex derivative trading backed by proven algorithms and unproven A.I. Money supply simply doesn't matter when all forms of money and debt are being sold in global markets to fund their economy, especially when supply chains are becoming more and more nationalized.

It's OK to think in anachronistic ways. But it's irrational to believe that every currency is not much different than any other. There's no difference between fiat currency vs precious metals or crypto. Fans and proponents of any currency will tell you theirs is different but the truth is that any currency relies on the same principles... Faith, reliability, usability acceptance and an agreed upon value. If a currency lacks any of those qualities, then it takes a back seat to others.

Shrinkflation

The stemi checks to people could never cause this inflation. Do you think the public got 8 trillion dollars? The money that was printed mostly went to banks and corporations that didn't need it. Do you really believe a couple thousand dollars to individuals amounted to everything they printed?

@@michaeldavid6832 it's one of many reasons including the one you stated. If the stimulus checks are $2,000 and there's 350 million people in the United States if even a fraction get a check it's hundreds of billions of dollars. Add to that the banks and you're looking at trillions. We're both right. A lot of bad mistakes and we're all going to pay for it with much higher interest rates

@@hankgroff7 Hundreds of billions doesn't equal the trillions in debt they added. Also, the consumer stemi checks were spent the day people got them. Inflation would never have been able to begin because it requires monetary momentum to begin and remain sustined. We gave hundreds of billions to Ukraine with a single vote. One vote. No. The stemi checks did nothing to affect the monetary system. The loans (they evrentually forgave) to corporations and the gargantuan free money to massive corporaitons on top of it is what caused this. Consumers were given a teaspoon of sugar so they wouldn't revolt when corporations were given gallons. Now the citizen is being blamed for inflation while the corpulent bank-pigs are the ones who caused this. The average house price has tripled in 5 years while wages haven't increased at all. Only a dolt could believe consumer stemi checks of $2K could be reflected in a $100K house becoming a $300K house. $2K doesn't equal $200K. Nor can it account for the near doubling of food prices for some goods.

Depends on the time frame. Prices might be a lot higher than 10 years ago but have mostly stabilized since 6 months ago when inflation was still rising much more than today.

Nope

Buy 2nd hand Tesla. Their price falls by 50% last year.😂

LOL, yeah right!

I'll meet you here, prophet

@@loudaddy2001 see you very soon

100% agree, I had to stop watching halfway through

@@JohnDaniels luckily it ends half way through the video and they change topics. It's maddening

In all fairness, how easy would his job really be...

Not at all. the semiconductor shortage started With sanctions imposed on the "World's factory" aka China during the Trump administration but a lot of people don't realize that the actual deadlines gave China plenty of leeway to prepare and decide how to deal with the sanction effects. In many cases, China bought up enormous amounts of chips before sanctions kicked in and it was only 4-5 years later in about 2022 that companies like Huawei ran out of chips... Coinciding with Covid timing but in no way related to Covid.

Yes , one that favors the working and middle classes . Will it ever happen ? 🤔

lol

😆👍🏻

It sounds like the same single interview re-broadcast many times. I have no objection, it's important that people hear this interview.

Be not a Victim of Circumcision.

You probably have never heard of why the Fed was built😂

Unless Dollar stores and similar start providing vices, I see their business differently. If anything, the impoverished need businesses in the community to serve its people. News of stores leaving communities leaves blight and unsurvivable conditions... Communities with no access to food, healthcare and other goods and services the people need.

nope he has nothing to do with it. it is as a result of the most simplest economic concept ever: Supply and Demand.

You're right that the Federal Reserve's tools to manage interest rates are very crude but as a creation of Congress that's what the Fed is empowered with. I agree that the time may have come that the Fed should be give more surgical tools to better pinpoint the effects of its actions. Besides differentiating interest rates between producers and consumers, I's consider possibly granting tools that affect specific classes or sectors that might be doing better or worse although the more you go into micromanaging the economy the danger appears that unfair and discriminatory practices are more likely to occur and mistakes can crush certain targets either intentionally or not. Also to be considered is that under the current system that restrains the still extremely powerful Federal Reserve is that we may have had a long string of benign, well intentioned Fed Chairmen, there is also the possibility of some day a unicorn might be in charge, similar to how Trump is considered the first despotic, autocratic and self serving President in the nearly 250 year history of the USA. There are few checks and balances on the position so it's important to consider what that person is empowered to do.

Gawd bless Murica 🤓 🖕

his?

I haven't paid much attention to the entire board but I understand that each represents a different geographical part of the country and all have strong financial backgrounds and often hold positions in major financial institutions so they are intimately in touch with the economic climate of their region. They all contribute and participate in Fed board meetings and often publish their own studies and views. But when it comes to actually running national Federal Reserve functionality, only one person makes decisions and that is the Chairman.

Spot on let’s expose the biggest scam since Jesus called out the Roman Empire

sir, your remark resembles Joe.Biden.gov/lost+found

Speak for yourself 🤓 🖕