Jerome Powell’s Honest Opinion on Lowering Interest Rates

Рет қаралды 121,708

Күн бұрын

Jerome Powell recently gave an interview with 60 Minutes where he discussed the problem with lowering interest rates now, and also how he's seeing the current inflation levels and the U.S. debt problem.
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★ ★ CONTENTS ★ ★
0:00 Why Jerome Powell Isn't Lowering Interest Rates
6:30 When Will Rates Fall?
7:30 Powell's Opinion on the Debt Crisis
My Podcast: / theyounginvestorspodcast
Brandon van der Kolk is authorised to provide general financial product advice in Australia and is an Authorised Representative (Number 1305795) of Guideway Financial Services Pty Ltd, AFSL Number 420367. Any advice is general & does not consider your financial situation, needs or objectives so consider whether it's appropriate for you. Read Brandon's Financial Services Guide available from guideway.com.au/NewMoney.pdf. Past performance is not a reliable indicator of future investment returns.
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Пікірлер: 278

@NewMoneyYouTube 4 ай бұрын

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@dongshengdi773 4 ай бұрын

Biden is the Greatest threat to democracy, that's why they want to stop Trump at all cost. Democracy proves that Trump is the best president for USA. Biden wants more money printing and more debt . Biden allows illegal immigrants into the country

@SigFigNewton 4 ай бұрын

Well chosen clip for the beginning of this video. Clarification that they don’t think that they need to wait for inflation to hit 2% in order to achieve 2% after lags is value information. And because it’s information that keeps rate cut expectations sooner than where they would be if people thought “no rate cuts til 2% inflation over past year,” it’s a point that Powell might avoid making if not prompted. Well interviewed. Well answered. Props all around.

@austinbar 4 ай бұрын

We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.

@eloign7147 4 ай бұрын

People believe their currency has the worth it does because they have no other option. Even in a hyper-inflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.

@jcurdrayeric243 4 ай бұрын

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

@joshbarney114 4 ай бұрын

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@matturner8 4 ай бұрын

Increasing interest rates are going to continue to increase bank failures because it puts their commercial paper and treasuries underwater. They need to freeze interest rates to prevent a deep recession in the economy. At the same time the White house needs to help industry to increase gas and oil output to reduce fuel prices. The war on oil only serves to increase energy prices which trickles out to the rest of the economy as inflation. Lowering interest rates, tightening the money supply, reducing government spending and increasing the cheap supply of fuel will result in reduced inflation and a booming economy. Presto, no inflation and no recession. Of course there are a lot of other agendas out there that will never let all of that happen, so hello recession and sticky inflation.

@carolpaige2 4 ай бұрын

A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time.

@KevinClarke9 4 ай бұрын

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

@Johnlarry12 4 ай бұрын

I enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $1.2million.

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Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.

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Hope you don't mind if I ask you to recommend this particular professional you use their service?

@pwatom22 4 ай бұрын

Why cut interest rates if growth and unemployment still so good.. makes no sense. ONLY cut interest rates if there is a real need. The ridiculous low near zero rates caused the wealth divide, massive asset chasing and inflation.

@mickeybeavison1053 4 ай бұрын

Media, politicians, corporate leaders - all pretend they don’t understand this simple concept.

@andrewpoole7236 4 ай бұрын

Cut rates pay less on national debt

@viewerone 4 ай бұрын

Yes, nailed it.

@mwase7782 4 ай бұрын

You know they actually have a need for people to go broke... that's how to beat inflation. In the 70s the fed raised the rates to 20% to beat inflation. The fed of today is too political to do such a thing. So yes, they definitely aren't cutting rates. the only thing that could make them cut rates is biden

@jackbrown5184 4 ай бұрын

@@andrewpoole7236national debt is meaningless

@eeekmeek2136 4 ай бұрын

I almost couldn't tell if it was AI generated voiceover lol...good job on the informative video!!

@clintscott3300 4 ай бұрын

In my opinion end the fed. The Fed kept talking about bad things happening all last year, and we believed them. Surprise, productivity jumped to 2.6% beat the underlying growth potential of 1.8%. Workers did a great job. Maybe we don’t need the Fed after all.

@_davidturner 4 ай бұрын

Yup, they’d favour rising productivity cos it allows the economy faster growth without inflation and at same cost.

@benalfredo 4 ай бұрын

Wars and inflationary pressures are growing to the decline of the economy, using our tax dollars to fund this madness.

@Javier_Rodri 4 ай бұрын

I might sell to the tune but not without the approval of my broker as usual since 2022 with eyes and ears on Wall St, I have raked in 140% on a managed portfolio run under a hedge fund by Strigle.

@clintscott3300 4 ай бұрын

140% is a great deal, amidst this crisis? I fell short of my mortgage and had to foreclose the property. Who is this broker you use and are they accessible or it is private?

@_davidturner 4 ай бұрын

I was about to ask same thing. Hedgefunds usually require a lot of capital to get started with? Is it the same with yours?

@chkee17 4 ай бұрын

Good summary for the interview.

@Fg-ye2zp 4 ай бұрын

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@PulpMatter 4 ай бұрын

Love this type of content! Informative and entertaining! ❤

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she's mostly on Telegrams, using the user name. ....

@ambition112 4 ай бұрын

0:08: 📉 Insights from Jerome Powell on inflation, interest rate cuts, and US national debt. 2:36: ⚖ Federal Reserve cautious on interest rate cuts due to strong economy and low unemployment, waiting for sustainable inflation decrease. 4:58: ⚖ Challenges of balancing inflation control with economic growth through interest rate adjustments. 7:37: 💰 US facing growing national debt, unsustainable fiscal path, worsening trend. 10:36: ⚖ Federal Reserve's approach to economic decisions unaffected by political implications. Recapped using Tammy AI

@darlantro 4 ай бұрын

Scott Pelley is a great journalist and excellent interviewer. His work over the years on 60 minutes is a thing of beauty.

@reggiejenkins6458 4 ай бұрын

Ha dude are you serious? The guy is a limp wristed douche. Incredibly biased.

@fedefinancialfreedom 4 ай бұрын

Agree

@jdedad 4 ай бұрын

Very good overview 👍

@dhillaz 4 ай бұрын

Big brain move using AI to recreate the sound with a different fingerprint

@airplayrule 4 ай бұрын

which AI? how? n how do u know this?

@dhillaz 4 ай бұрын

@@airplayrule The unnatural cadence of his voice, with some experience of known AI samples you can start to pick it up. There are a lot of tools like Elevenlabs to mimic voices. Very fun but also very dangerous.

@NewMoneyYouTube 4 ай бұрын

Yeah we did this to avoid getting copyright claimed. Hopefully it still sounds pretty good. For those wondering we used Eleven Labs

@James-bs8bd 4 ай бұрын

lol.

@onglt27 4 ай бұрын

How were you able to discern that it was recreated using AI? I’m genuinely curious how you could tell.

@DonBrowningRacing 4 ай бұрын

Well done!

@vks002 4 ай бұрын

Thank you this is very helpful

@kt6332 4 ай бұрын

Great job! Thanks!

@Ketoinvestor 4 ай бұрын

This may well be the best video the team has ever produced. Clearly, having the opportunity to ‘interview’ Powell has a lot to do with my opinion. However, I suspect this editing/format would work for other, less important ‘guests’

@robertingram9404 4 ай бұрын

1:25. Start the axis at 0%

@pytulyn1 4 ай бұрын

Amazing. You’re the only one that covered this mate. And your insight. Thank you. J.

@alancirwin 4 ай бұрын

I used to dislike Jerome Powell now I think he’s done a good job of balancing this whole thing. Also, I commend him for standing his position in not cutting rates which would definitely be detrimental

@moby1kanob 4 ай бұрын

Translation - We are not cutting rates until unemployment goes up, economy slows down. Why would I? All the risk is in cutting rates, not leaving them where they are. It will take a recession, which is a very strong possibility, before he cuts rates to where the market has stocks priced in right now... That possibility of a recession gets worse if he cut rates now. I would be surprised if we saw more than 1 rate cut this year. My bet is we see none. When the stock market realizes this, things will start to correct...recession will also contribute to this..markets are at a very very very sensitive spot.

@Killacam1992 4 ай бұрын

A recession isn’t just a real possibility it is inevitable and already confirmed as per the inverted yield curve which is the single most accurate predictor of recessions in history.

@fedefinancialfreedom 4 ай бұрын

Agree

@2MANYCARS 4 ай бұрын

The 60 Minutes clip was from 2 months ago I think? Lots had changed since then.....

@Surfer-727 4 ай бұрын

Great video ! 💵💵💵

@big-bradlol5908 4 ай бұрын

Thought on e.v. market?

@aventh1114 4 ай бұрын

One small thing to make a video like this even better. When Powell is saying "in seven weeks", have the date of the interview in there or something that tells the viewer the timeframe.

@nonexistent5030 4 ай бұрын

That first powell quote sounded like ai lol

@theYoutubeHandle 4 ай бұрын

Jerome is a government ai robot. Have you ever seen him in real life? Exactly.

@stormupoe1520 4 ай бұрын

they all did

@NewMoneyYouTube 4 ай бұрын

They all were AI recreations of what he actually said

@cdeshpan415 4 ай бұрын

Stocks have already priced in rate cuts. When they start cutting they will go more up and fall back to reality. So exit timing is important for risky stocks.

@1Skeptik1 4 ай бұрын

Return to 2% inflation? Over the past 50 years, inflation averaged about 4.5% annually. I am 72 years old and I lived it. The FED either lies or they are incompetent. (I suggest both.) The FED counterfeits, it is the engine of inflation.

@RichardMoore-jg5tl 4 ай бұрын

Increased losses for portfolios this quarter are predicted by market drops, skyrocketing inflation, a major interest rate hike by the Fed, and rising treasury rates. How can I profit from the volatile market right now? I'm still considering whether to sell my million dollar bond and stock account.

@RossiPopa 4 ай бұрын

Focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor.

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@sebastiannunez8091 4 ай бұрын

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

@goobda_ 4 ай бұрын

damn i wasnt sure why it sounded off, but then i looked into the comments and it seems like everybody's noticed it

@richardhead2318 4 ай бұрын

Going out on a limb here- there will be no change in the Fed fund rate until after the presidential election. Then they will raise the rates, since it will be necessary to tame inflation.

@oliverforsyth3411 4 ай бұрын

Correct

@enemyofYTemployees 4 ай бұрын

Just print more and stop charging taxes. Finance everything by printing!

@itsnotu-its-me 4 ай бұрын

June.

@Dan-wg5gq 4 ай бұрын

Hope you continue to post on youtube. I dont do instagram. Cheers

@tonycrabtree3416 4 ай бұрын

yeah instagram is for OF skanks…

@user-fo9lq5oc8k 4 ай бұрын

For prices to come down you need deflation. You hope that doesn't happen because that leads to even bigger economic problems. We just have to adjust to the current higher prices. I know it's not easy but it is our reality.

@Diode5 4 ай бұрын

Isn't the adjustment that prices begin to hold and wages increase? Wages have increased in Australia and with (the adjusted) stage 3 tax cuts on the way many people will see a nice amount of money in their pocket in the coming years.

@AdamJones381 4 ай бұрын

For people to become sustainably better, productivity needs to increase so wealth is created without increasing inflation.

@Capped-virus 4 ай бұрын

@@AdamJones381you’re right. Productivity is a huge issue. Perhaps by trying to maximise employment it means there is less competition for jobs and so less need to be effective. If you needed the money and had people fighting for your job you’d put more effort into keeping it.

@healthiswealth6797 4 ай бұрын

Deflation sounds lovely to me :). People should positioned themselves for all events and situations, not having a consumer & debt mindset

@fedefinancialfreedom 4 ай бұрын

Agree

@lukec.5656 4 ай бұрын

Is that an AI voice for Jerome Powell?

@albertocano1185 4 ай бұрын

Target is 100 usd min wage, dejando todo lo demas constante, y con el budget in proportions for 66% of global economy, in % of world GDP, Like15 trillion budget anual more or less balanced with interest and taxes

@rajeevvarshney5000 4 ай бұрын

No one addressing small banks and small companies going bust due to expansive credit

@Arthur-ph5qr 4 ай бұрын

Ai?

@TheEsisia 4 ай бұрын

As he said, the government itself benefits from lower rates and might put pressure on the Fed to reduce the rates. Both gov and Wall Street benefit from lower rates, not general public. But most people don't realize that, and that's how populism wins.

@txp158 4 ай бұрын

He is just saying that the US government is spending more money than it has. If the Fed does not step in, there will be high inflation. If you don't want the fed to keep the rate high, tell the government to stop spending. The amount of debt isn't the problem, because the government will need to spend the money it has to repay the debt, thus preventing the money from entering into the economy. In brief, the main culprit is the government's spending because it creates inflation.

@Jaymilnere 4 ай бұрын

The CPI report revealed that inflation has dropped to its lowest in more than two years, and that's great news for both the economy and the stock market. but I don't know if stocks will quickly rebound, I am under pressure to sell my $250,000 ETF/Growth Stock portfolio.

@Higuannn 4 ай бұрын

Such impeccable decisions are better guided by professionals who have core market experience as opposed to some random KZfaqr.

@hydrozyk 4 ай бұрын

whats with the sound today?

@fredrikboden 4 ай бұрын

AI-generated audio/other way processed audio to get around copy-right i think :)

@brunoheggli2888 4 ай бұрын

Extremly low priced consumer good from China could lower inflation,but for political reasons and independence from China,the decopeling will be the reason for higer inflation!

@beaversstumpgrinding3352 4 ай бұрын

I would like to see the mathematical formula for 2% over time. If it's calculated like the CPI I'd like to sell them some ocean bottom property.

@InfinityIsland2203 4 ай бұрын

he carefully says we are committed to return to 2% inflation over time. is that in years? decades? millenia?

@Oz10Elle 4 ай бұрын

What’s the real time period? Is there a mathematical equation?

@Money-Mind-Set 4 ай бұрын

Exactly, there is no time frame. The Fed will not create a position for themselves that boxes them in and reduces their flexibility.

@Money-Mind-Set 4 ай бұрын

@@Oz10Elle There's no equation. Fed will keep rates stable until the economy needs stimulating. That will take years. The 80's had much higher interest rates for many, many years. Fed wants to stay away from low interest rates because it doesn't give them much room to help the economy when it needs it. Right now it doesn't need help and won't for a long time. The Fed will prefer the economy to stagnate at its current position with +5% rates.

@chrissb919 4 ай бұрын

as much i enjoy the profits, its an issue to investors lets not forget there is people strugling at min wage

@nicholas5396 4 ай бұрын

The funny thing about the fiscal spending and the upcoming election. On one side you have a tax and spend guy, and on the other side you have lower taxes and spend guy. Neither are good for reigning in fiscal spending. One just makes it worse quicker.😣

@marcoschena99 4 ай бұрын

Thanks Brandon

@NewMoneyYouTube 4 ай бұрын

Thanks for watching!

@andrej2321 4 ай бұрын

Brandon is as Brandon does. Keep waving that Brandon flag!

@oneisnone7350 4 ай бұрын

The biggest problem with “inflation coming down” is that this doesn’t mean prices have come down. We’re working with higher prices that continue to increase. Of course inflation slowing is good, but people are still getting crushed.

@brunoheggli2888 4 ай бұрын

If prices would come down,that would be deflation,thats a lot worse the infation!A steady rise around 2% is perfect!

@jonathantaylor6926 4 ай бұрын

@@brunoheggli2888 What's so wrong with deflation? That would be bad for the 10% that own 80% of all assets, right? There should be constant deflation as technology is deflationary.

@citizen320 4 ай бұрын

@@jonathantaylor6926deflation causes disastrous economic slowdown. I promise you that you don't want deflation. Under the current system we need 2% stable inflation and wages to catch up to whatever it needs to be

@GaminHasard 4 ай бұрын

Very good point.

@GaminHasard 4 ай бұрын

@@brunoheggli2888deflation in computers works very well. Why is their problem with other goods ?

@jupitereye4322 4 ай бұрын

And yet those same interest rates are making everything more expensive, which in effect means more inflation.

@michaelschnepel5000 4 ай бұрын

Yer right

@udarpavarota396 4 ай бұрын

What's killing us is the uncertainty.

@connorferguson2269 4 ай бұрын

moving money into India, they used to be rich in the past and they seem capable of turning their country around

@rihe7045 4 ай бұрын

When you mentioned Jerome Powell and honest, I knew you were off with the fairies.

@joanneburford6364 4 ай бұрын

It's US debt that is the elephant in the room. Also personal debt - when you have people purchasing essentials on credit card and after pay, you know there's a systemic issue. They simply can't afford to live how they used to and instead of cutting back, out comes the credit. US - try not to cause another GFC because of lack of regulation and mismanagement in general and although my country wasn't as affected, others were.

@shammuk02 4 ай бұрын

I dont know why anyone would think interest rates r going to go down.. it is more likely to go up unless we have a recession

@SamuelHauptmannvanDam 4 ай бұрын

Did you use AI or is that actually his voice? It sounds a lot like AI to me. xD A great idea if you did, just curious.

@donniemcleod2381 4 ай бұрын

It's an election year so I see 2 rate cuts near the end of the year as historically this is the case. Historically this happens because the president chooses and appoints the Fed chair so they typically soften rates near the election to keep their jobs as cutting rates will cause a short boom thus helping the incumbent party as economic conditions seem favorable.

@James-bs8bd 4 ай бұрын

Fed is its own entity

@jeffreycheng5984 4 ай бұрын

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

@chiragarora2827 4 ай бұрын

If average needs to be 2% then we actually need a deflation 🤣

@tonycrabtree3416 4 ай бұрын

It’s weird that people don’t understand this.

@FLAC2023 4 ай бұрын

Rates are going up... just watch...

@mrxiong2567 4 ай бұрын

Please, dont cut interest rates.

@ippothedestroyer 4 ай бұрын

No reason to cut rates.

@fedefinancialfreedom 4 ай бұрын

Cutting interest rate at this stage doesn’t make much sense

@castafinance 4 ай бұрын

The economy is completely fine. Keep spending, keep taking out debt, we are fine

@lilmoi8820 4 ай бұрын

Banks are upside down and frozen, all Of CRE and residential RE are frozen- great job.

@junikseci 4 ай бұрын

Yes but people are spending on credit cards. That means the economy is not as good as it's looking

@cowymtber 4 ай бұрын

Treasury putting dollars in unproductive pockets, supporting all this demand for stuff and service. Meanwhile, supply of stuff and service decreasing and now-oil is rising. Only way inflation goes down is if fiscal spending stops. BUT if fiscal spending stops, depression. So, Fed MUST keep rates high, or inflation goes 1970s. Treasury spending will continue. M2 stays liquid. Real rates remain high. Slow choke out of US, into decade long depression. UNLESS - drill baby drill, and spending goes towards higher production and supply, and less government jobs.

@richardgoh8725 4 ай бұрын

One cannot bring inflation down by printing more money and spending more especially on War Machines.

@nalazone5474 4 ай бұрын

I’m confused, inflation is coming down and the economy is strong.

@wackerman7259 4 ай бұрын

We do not need lower rates…. Inflation is still out of control.

@mrtony1985 4 ай бұрын

It's not the Feds or Powells fault that congress spends too much money. It'll take a large recession to remind people about the importance of fiscal conservatism. I'm not sure any politicians advocating for that are left.

@andrej2321 4 ай бұрын

We’ve been there in 2016 and we all know the history, and if not, we shall be reminded.

@fedefinancialfreedom 4 ай бұрын

Agree

@timothybancroft6579 4 ай бұрын

The cost of money should never be free

@jonathantaylor6926 4 ай бұрын

Yeah cut rates with the stock market at ATH's. Inflation is only slowing because the interest rates are restrictive. The FED ran ultra-loose policy for 13 years. You don't unwind all that money printing by hiking for a year. The vast majority of debt in the system was locked in at very low rates for 3-30 years from corporate debt to personal mortgages. These higher rates have zero effect on all this fixed rate debt that was borrowed when money was cheap. No cuts in 24 unless something really big breaks. The FED will respond to additional regional bank failures from bad CRE loans with QE. If the FED cuts early inflation will be back with a vengeance.

@DesignVisStudios 4 ай бұрын

why would they cut at all? they won't unless there is the need to stimulate

@mikulast3292 4 ай бұрын

My bet? Rates gonna be cut by FED right after semiconductor bubble bursts.

@iMightyElephant 4 ай бұрын

Why does jpow sound like an ai imitating jpow in this interview

@redarbz6545 4 ай бұрын

Why inflation is so bad if you economical crisis is looming

@tomwest684 4 ай бұрын

40 yr rate cycle just began bruh

@wtan1851 4 ай бұрын

Better to end the Fed. It will also stop the government from excessive borrowing and not balance its books, because the Fed, not foreign investors, are interested in US treasuries.

@crovian7 4 ай бұрын

Gold standard, make money a real thing instead of abstract paper.

@893263007 4 ай бұрын

Powell does come across as being extremely intelligent.

@CommonSense-uj9ip 4 ай бұрын

None of the info in this interview was new. It seemed more like powell helping out the confused news guy

@gorshenbag 4 ай бұрын

the music is annoying

@jimysk8er 4 ай бұрын

if everyone was paid a livable wage it would solve inflation

@jaygold4467 4 ай бұрын

3-4% inflation is the new normal. Get over it. 2% is completely ridiculous.

@timothybancroft6579 4 ай бұрын

New asset class=NEW TAXES😂

@SkankHuntForty2 4 ай бұрын

He will cut the rates because it's election year. Even though he shouldn't.

@serena-yu 3 ай бұрын

He can't cut interest early because something must give before people learn a lesson from overborrowing. He just can't speak this out.

@tylerhill9483 4 ай бұрын

It sounds like inflation for longer. Powell not willing to wait to get to 2%, before cutting rates.

@v4vannatta521 4 ай бұрын

Sounds like AI when you don't show the actual interview.

@Henrygeorge67 4 ай бұрын

I have about 5% of my portifolio in AAPL stock, any advice on any other that I can grow my $200 k capital to a million dollars?

@kalebhgoodwin 4 ай бұрын

anyone who thinks that the Federal Reserve is separate from politics is like saying, they don't have any power or influence over our county. Complete nonsense to believe they don't have their own interests in mind.

@gamertimefriend1286 4 ай бұрын

Powell WILL KEEP THE BOAT AFLOAT

@sunseeker7099 4 ай бұрын

Central Banks always act too slowly. They raise rates later than they should and they lower rates later than they should too. Blind Freddy could see that inflation was going to erupt from 2021 but no the Central Banks told us "inflation wasn't going to be a problem." Part of the role of Central Banks is to forecast inflation. If anyone in the Private Sector continually made incorrect forecasts they would be fired...or at the very least...forced to change their methodology. But no...these highly paid Public Servants continue to embarras themselves to the detriment of the fools that listen to them.

@viewerone 4 ай бұрын

Create the recession and pay the piper already. You can absolutely fix a recession.

@cthgbs6267 4 ай бұрын

Jerome Powell is the single American that I really hate. This man made a terrible mistake when he misjudged the initial inflation rise in early 2021, saying it was "transitory". It turned out the inflation was sticky and continued to rise until it peaked at 9.1% in June 2022. Due to his awful misjudgement, he was too late to hike the interest rate. Costs of living around the world have become unbearably expensive and the money we saved in the bank has lost its purchasing power significantly. The man has caused so much financial suffering to billions of people around the world.