40 Burst results for "FED"
Fresh update on "fed" discussed on The Big Take
"Ben Edmonds of new edge on the outlook for the U.S. economy. We've gotten to restrictive rate levels, certain push pressure on the economy, for fixed income. That means that you can be scaled in, as you say, buy some duration, get in some corporate credit, stay still high quality because if there is a recession credit festival wide and that's commonly assumes, but the duration is, I think, the most important trade here. Now, I personally like the front end of the yield curve because if the fed is moving to this restrictive rate of could become over tightening that may look like that, then I think the one to 5 year part of the euchre is extremely attractive. If anything, as the fed moves to a slower pace and is more clear about his message even, the volatility of the short maturity knows all the kind. So it gives you the better risk adjusted return on the front of the curve. So I would favor historically, would you see treasuries that far under the federal funds rate? Think about the yield curve in this rate, right? So the inversion currently is about pretty restrictive fat policy. That's what it's pricey. It's not the baron uncertainty comedy, then the entire you could be flat, all right should be the same. So if you think about the three and a half or change of the ten year that should go to 5, that actually means that not only that there will be maybe I guess more surprises if that policy, faster hikes, more aggression, but also to end up in an economy that will be so uncertain that we don't know where we're heading with having two high rates. So that doesn't seem to be the case alone on the curve seems to be cycling more about this is a restrictive enough policy. It will get inflation at least start trending down. It may not get a 2%, but at least our consistently trending down, therefore, it should stay below the
Ethereum Price Prints Bullish Signal, What Are Possible Bulls Targets
"5 a.m. Monday, December 5th, 2022. Ethereum price principle bullish signal. What are possible bulls targets? Ethereum gained pace and retested the 1300 resistance zone against the U.S. dollar. ETH is eyeing more gains towards the 1330 and 1350 levels. Ethereum remained well bid above the 1240 level and resumed its increase. The price is now trading above 1250 and the 100 hourly simple moving average. There was a break above a major bearish trendline with resistance near 1280 on the hourly chart of a thus data feed via kraken. The pair could gain bullish momentum once it settles above the 1300 resistance zone. Ethereum price gains momentum Ethereum price corrected lower once from the 1300 resistance zone. ETH declined below the 1280 support level. However, the bulls were active above the 1240 level and the 100 hourly simple moving average, similar to Bitcoin. The price traded as low as 1238 and recently started a fresh increase. Ether price traded above the 1275 and 1280 resistance levels. It cleared the 76.4 fib retracement level of the downward move from the 1296 swing high to 1238 low. Besides, there was a break above a major bearish trendline with resistance near 1280 on the hourly chart of a dust. The pair is now trading above 1250 and the 100 hourly simple moving average. And immediate resistance on the upside is near the 1310 level. The first major resistance is near the 1332 level. It is near the 1.618 fib extension level of the downward move from the 1296 swing high to 1238 low. A close above the 1332 resistance might send the price further higher. Source of dust on trading view dot com the next major resistance is near the 1350 level. Above which ether price might test 1400. Any more gains might send the price towards the 1500 resistance zone. Less downsides in ETH if Ethereum fails to start another increase above the 1300 resistance, it could start a downside correction. An initial support on the downside is near the 1280 level and the broken trendline. The next major support is near the 1265 level or the 100 hourly simple moving average. If there is a break below 1265, the price could test the 1240 support. Any more losses could lead the price towards the 1200 support. Technical indicators hourly MACD the MAC D for a dust is now gaining momentum in the bullish zone. Hourly RSI, the RSI for a thrust is now above the 50 level. Major support level 1265 major resistance level 1310.
Fresh update on "fed" discussed on Bloomberg Law
"Ted Oakley founder and managing partner at oxbow advisers about sectors he thinks can outperform the market. Ted, what are your thoughts about 2023? I'm happy to flush 2022 down the, you know what? So where do we go in 2023? I do think there could be a really significant buy point in 23. I'm not certain I can't give it a time. But I don't think we'll stay the market will stay down continually through 23. So there should be a bottom somewhere in 23 where probably be some really great buys there. I think there will be. I just think people are misinterpreting what the next couple of quarters will look like. I think they're looking for it any day now. Everybody's I've never seen so much obsession with the fed and the low in the market, but so it's obviously not going to work here because of that probably, but we'll see, but I think I'm more positive on finding a spot somewhere in 23 years. What do you think about the 60 40 portfolio? I've been around longer than most people, so I've seen times when it didn't work. And it depends on what happens with really things on what happens. I think with inflation. Let's say you stay at a four or 5% consistent inflation level. Yes, it comes down, but it doesn't go to two. And then you get in a situation where you're like that period of 66 to 83 where the 60 40 didn't really work. Because you couldn't inflation really affected things. And so you couldn't get the bonds to work. And you can get the stocks to work all that well. So it really depends on what the macro looks like and I think in terms of inflation Catch more of this in other conversations on today's edition of the tape. Subscribe on Apple, Spotify, and anywhere else you
Stellar Lumen XLM Price Stuck In Range, Can Bulls Clear This Hurdle
"7 a.m. Monday, December 5th, 2022 stellar lumen XLM price stuck in range, can bulk clear this hurdle. Stellar lumen price is showing bearish signs below the 0.090 resistance zone against the U.S. dollar. XLM price is now trading below 0.0900 and the 55 simple moving average four hours. There is a key contracting triangle forming with resistance near 0.090 on the four hours chart data feed by a kraken. The pair could start a decent. The post stellar lumen XLM price stuck in range can both clear this hurdle appeared first on live Bitcoin news.
Fresh update on "fed" discussed on WTOP 24 Hour News
"Shot and wounded Lady Gaga's dog walker and stole her dogs has been sentenced to 21 years in prison, police say James Howard Johnson shot Ryan Fisher after a driving around different LA communities looking for French bulldogs. They believe the Gaga connection was simply a coincidence. Another accomplice will be sentenced next year. That piper, CBS News. Now the dogs named Koji and Gustav were returned several days later by a woman named Jennifer McBride. She was also charged in connection with the crime. 9 55 money news at 25 and 55, this is a Bloomberg money minute. Interest rate worries were back on Wall Street sending stocks lower to start the week. A stronger than expected reading on service sector growth renewed fears that the fed will keep policy tight as it battles inflation. Now industrials plunge 483, the S&P dropped 73 the NASDAQ tumbled to 22. Pilots at Delta Air Lines have a tentative contract, the four year deal includes a 31% wage hike if approved by the rank and file it would be their first contract since before the pandemic. Toyota says that as long as charging stations and batteries remain in short supply, it will keep selling its Prius hybrid. The automaker expects that to persist for the next ten to 15 years. The owner of Applebee's and IHOP is heading tacos to the menu, dying brands is buying the Texas based fuzzy's taco chain for $80 million, fuzzy's has nearly 140 locations in 18 states. From the Bloomberg newsroom, I'm Larry kofsky, on WTO P, coming up in the moments ahead on WTO P, the entertainment world mourns the death of an Emmy Award winning actress. It's 9 56
Bitcoin Lags as Unwinding of Fed Trade Lifts US Stocks Above 200Day Average
"7 a.m. Monday, December 5th, 2022. Bitcoin lags as unwinding of fed trade lifts U.S. stocks above 200 day average. Bitcoin trades at a significant discount to its 200 day average as popular macro trades of 2002 unwind, leading to risk revival in traditional markets.
Fresh update on "fed" discussed on WTOP 24 Hour News
"Buy a live Christmas tree this year. Supplies been tight, but you should be able to still find a real Christmas tree even through Christmas Eve. The ones that were harvesting right now were planted about 7 years ago. Ben butler with butler's Orchard. You've seen some of the prices go up the last couple of years because as everything else supply chain and labor and input costs have all gone through the roof. She says, once you've chosen your trade, when you get home, put a fresh cut on that thing, keep water in that stand and don't let it run out. Neil all can stay in double UTF. And now it's time for money news and here's Larry Kochi. This is a Bloomberg money minute. Interest rate worries were back on Wall Street sending stocks lower to start the week. A stronger than expected reading on service sector growth renewed fears that the fed will keep policy tight as it battles inflation. Now industrials plunge 483, the S&P dropped 73 the NASDAQ tumbled to 22. Pilots at Delta Air Lines have a tentative contract the four year deal includes a 31% wage hike if approved by the rank and file that would be their first contract since before the pandemic. Toyota says that as long as charging stations and batteries remain in short supply, it will keep selling its Prius hybrid. The automaker expects that to persist for the next ten to 15 years. The owner of Applebee's and IHOP is heading tacos to the menu, dying brands is buying the Texas based fuzzy's taco chain for $80 million, fuzzy's has nearly 140 locations in 18 states. From the Bloomberg newsroom, I'm
Market Whiplash As Jobs Report Undermines Powells Less Hawkish Speech
"We are going to check in on some of the macro topics that all of the shenanigans and crypto world have forced us to not cover during the week. And where I'd like to start is with Jerome Powell's remarks on Wednesday, which were the second most anticipated comments of the day after Sam's New York Times conversation. So Federal Reserve chair Jerome Powell spoke at the brookings institution on Wednesday, ostensibly to discuss the labor market, but also to clarify the path forward for fed policy. Some commentators were of the opinion that the fed chair would use the speaking engagement to talk markets down. This is something that we've been talking about all year. This microcycle where markets start to get ahead of themselves, the fed deploys a bunch of speakers to say, hey, chill out. Sometimes using Powell himself, and then yes, markets chill out. One of the most notable examples of this was the infamously hawkish Jackson hole speech in August, which cut short a relief rally in equities in just 8 minutes. What we got instead from Powell was much more moderate, largely seen as firming up the likelihood of a smaller 50 basis point rate hike at the December FOMC meeting. The focus shifted to the anticipated higher for longer rates policy with Powell saying, quote, the time for moderating the pace of rate increases may come as soon as the December meeting, given our progress in tightening policy, the timing of that moderation is far less significant than the questions of how much further we will need to raise rates to control inflation and the length of time it will be necessary to hold policy out of restrictive level. End quote. Now despite appearing to give his blessing to slowing rate hikes, Powell also expressed the need for more data before declaring victory in the fight against inflation. He said, quote, it will take substantially more evidence to give comfort that inflation is actually declining. The truth is that the path ahead for inflation remains highly uncertain. In response to a question from a JPMorgan economist about whether he would take a shock and awe approach to rate hikes, Powell said quote, I think we are in a position where the right thing to do is move really quickly as we have and now slow down and get to that place where we think we need to be. And by the way, there's high uncertainty around that. Now, turning to the main topic of the speech the labor market, chairman Powell fleshed out his view on the cause of tightness in the labor market, and the gap in the participation rate. He said quote, these excess retirements might now account for more than 2 million of the three and a half million shortfall in the labor force. Pal said that the labor market is only showing quote unquote tentative signs of what he called quote unquote rebalancing, stating that to be clear, strong wage growth is a good thing. But for wage growth to be sustainable, it needs to be consistent with 2% inflation.
Fresh update on "fed" discussed on WTOP 24 Hour News
"That is just amazing. It's 7 55. Money news at 25 and 55, and here's Larry kofsky. This is a Bloomberg money minute. Pink slips are going out at PepsiCo as the recent wave of corporate belt tightening spreads beyond media and technology. The Wall Street Journal reports Pepsi will cut hundreds of workers at both its beverage and Frito lay snacks division. The week began badly on Wall Street on renewed fears that the fed will be in no rush to slow the pace of interest rate increases. Now industrials dropped 483, the S&P fell 73 the NASDAQ lost two 22. It's been a record year for ExxonMobil and top executives are reaping the reward with salary increases of about 10% for next year. The stock is up about 75% so far this year. More than 300 hertz customers who say they were falsely arrested for car theft will share in a $168 million settlement. They accused hertz of filing false police reports after cars they rented were not returned on time. From the Bloomberg newsroom, I'm Larry kofsky, on WTO coming up in the moments ahead on WTO in North Carolina, the search continues for the person or people who shot out the power at 7 56. Without
Carol Roth: COVID Lockdowns Helped Big Business, Hurt Small Business
"Well and Carol you know you can look at all these economic woes that we're facing right now whether it's inflation supply chain issues labor disruption and you can really draw the line back to these lockdowns can't you Not only can I have been doing it over and over again and warned everybody about it in a book Yes it was absolute insanity and what was done was so nefarious They decided to say we're all in it together but we were not all in it together They locked down businesses small businesses bore the brunt of that At the same time they sent these quote unquote emergency measures to Wall Street So if you were a big publicly traded company at Amazon a Walmart one of these big tech companies your direct competition from small guys went away so all the dollars that couldn't be spent at small local businesses slowed to those big companies And then you got this huge boost from this extra meddling in the market by the fed So that sort of enacted the wealth transfer piece but it also disrupted the supply chain like you said It also impacted labor The only piece that we have now that can't really be traced back to that time is the energy piece And then you can think Biden coming in for that one Because obviously his first order of business and office was once we had wrecked the labor and the supply chain a little bit let's wreck energy as well So you put all of those things in motion and have these supply constraints that you decided to further stimulate the supply constrained economy gave us 40 year high and inflation Amidst all of these other problems And this is very tough burden for the little guy the average American person who's working hard doing all the right things to bear and the big guys they're going to come out of this just fine
US hiring stayed strong in November as employers add 263,000 jobs
"The jobs market stayed strong last month, despite high inflation and an economy that's growing slowly. Employers added 263,000 jobs last month, down slightly from October, but all told it represents a substantial jump, given the Federal Reserve's aggressive interest rate hikes as it tries to stem decades high inflation. As employers keep hiring, paychecks keep going up, and the combination of more jobs and higher wages could complicate the fed's inflation fight. Job openings exceed available workers by about 4 million that is about 1.7 job openings for every person looking for work. Chair Jerome Powell told the brookings institution this week a robust jobs market is a key inflation driver. He'd like to see slower job growth and more modest wage gains. Sagar Meghani, Washington
How the Federal Reserve could react to November jobs report
"The November jobs report might show whether hiring is slowing as fast as the fed wants. The Labor Department will release the November employment and wage report this morning at 8 30 eastern, it could provide clarity on whether hiring and pay increases are cooling, analysts forecast for job growth or running around 200,000, while wages are still trailing rising prices, Federal Reserve chairman Jerome Powell has suggested the robust jobs market, particularly in the service industry, is a key driver of inflation. Because wages make up the largest cost in delivering these services, the labor market holds the key to understanding inflation in
The Modern Federal Reserve Keeps Getting It Wrong
"At the fed out with their statement, so to speak today, he was out speaking in remarks this is Jerome Powell at the brookings institute and he is trying to address some of these concerns that people have about how aggressively they're going to move. I should point out that most market watchers thought that they would back off and we'd be looking at a half point interest rate hike in the month of December as opposed to the 75 basis points, he basically indicated that that would be the case. Let me share with you some of the things that he said. Despite some promising developments, Powell said we have a long way to go and restoring stability. He went on to say, thus, it makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down. So they think they're getting there. They think they're getting there. I mean, you guys managed to come down under 8% and somehow that's that's what you need. I think it's going to take a lot more. He went on. The time for moderating the pace of rate increases may come as soon as the December meeting. Hey, so much for the mystery in this relationship, right? You know what, years ago. Many, many years ago, it used to be that the fed governors, you know, they didn't speak. They were all those ideas about, okay, what's in the briefcase? How is Greenspan holding his briefcase as he crosses the street and then Greenspan started to talk some more, right? Remember the Greenspan speak, but that was effectively sort of in code, and over the years you've had these heads of the Federal Reserve, you've had governors there at the fed speak more and more and more effectively taking that mystery out of the relationship, which I think is kind of a shame, because now it's all about what Jerome Powell says. People think, okay, we know he's telegraphing this. And by the way, when they telegraph these things, they try to stay pretty much true to their words. It's not like they're saying one thing and doing another because they know that would really scare the Mark. I mean, if I were them and by the way, I say this as a journalist who wants all the information I can get, but I could do without all the chatter from these folks like Powell, who then feel they have to follow through on whatever it is that they're saying. Because they keep getting it wrong. And they've been getting it wrong for a really long time. And I think if you look back through history, what you've seen is that the modern Federal Reserve just consistently messes up every single time. And as a result, you get big bubbles and you get recessions and all the things that they're supposed to do, right? Iron out the fluctuations in the economy. They wind up in some way, shape or form unintentionally helping to create, and thus we have the problem that we even have right now,
An inflation gauge tracked by the Fed slows to still-high 6%
"A government report shows one measure of inflation eased last month, but is still at a high level. It's called the personal consumption expenditures index and it shows consumer prices rose 6% in October from a year earlier, down from 6.3% a month earlier, but still elevated. The Federal Reserve closely monitors the index, and the number likely reinforces its intent to keep boosting interest rates as it tries to cool the economy and ease the worst inflation in decades. We need to raise interest rates to a level that is sufficiently restrictive to return inflation to 2%. But fed chair Jerome Powell told the brookings institution yesterday the Central Bank could slow the hikes when it meets in two weeks. Sagar Meghani, Washington.
Laurel Guillen: Taming the Wolf of Gubbio by St. Francis
"The wolf of what? Gubbio. Gubbio, the wolf of gubbio. So let me guess Francis goes up to him. He makes him an offer he can't refuse. Yes. I agree. And according to what the townspeople say, you know, passed down. The wolf was fine. He would come every few days get fed, never hurt anybody else again. And people thought, okay, well, this is a legend. Well, in the mid 1800s, they were renovating the church or a square in the town of gubbio, and they unearthed a large skeleton of a wolf that dated from the 13th century. So that's actually very interesting. I love
Steve Cortes: The American People Know We're in a Recession
"Is in a really tough spot. I believe that they played some games with the fed over the summer and early fall to cushion the blow ahead of the midterms. I think that everyone knows that we're in a recession, but I think there was some games also done, obviously with the strategic petroleum reserve to try to get gas prices a little more manageable because Steve, this midterm election should have been much more focused on the economy than it was, right? I mean, it shouldn't be a four seat majority. It should be a 40 seat majority given the economic catastrophe we're living through. Yes. And by the way, to that point of whether or not we're in a recession, according to CNN polling, not exactly a right wing organization. 75% of the American people say that we are in a recession right now. So the American people know this. People on Main Street regular folks know that we are in a recession. You know, whatever academic debates, the corporate media and The White House want to engage in the American people know where we are. They know where things are in their own lives. They know that real wages, meaning your income adjusted for the things you need to buy in your life, real wages have declined for 19 consecutive months. That is the worst streak in all of American history. You are working harder to get poorer every single month. And the American people clearly know that. To your point about the fed, look, the Federal Reserve is every bit as complicit in creating this inflationary madness as is Joe Biden and the Congress, you know, particularly Schumer and Pelosi. All of them share in the blame here. Now the fed I will at least say this to its credit. It seems to have found religion, but very conveniently largely after the midterm elections. So for example, just this past weekend, the president of the St. Louis fed bullard made some very aggressive comments about how much the fed needs to raise interest rates to try to rein in this inflationary madness that the fed fed chief themselves helped to create. Now, he's very late, but better late than never. And I think the fed finally has come to grips with the crisis that they help to create. And
Inflation eases in Europe, but still in double digits
"Inflation in Europe has eased for the first time in more than a year, as energy prices drift down from painful highs. Despite a modest easing, the double digit rate still hovers near a record that's robbed consumers of their spending power and led economists to predict a recession and EU agency says the consumer price index in the 19 countries that use the Euro currency hit 10% in November from a year earlier that was a drop from 10.6% in October, the first decrease since June 2021 out of control inflation is being fed by a high energy prices caused by Russia largely cutting off natural gas over the war in Ukraine as well as bottlenecks in supplies of raw materials and parts and rebounding demand after COVID-19 pandemic restrictions ended. Charles De Ledesma, London
China vows crackdown on 'hostile forces' as public tests Xi
"China's ruling Communist Party says it will resolutely crack down on infiltration and sabotage activities by hostile forces. The statement was released late Tuesday after the largest street demonstrations in decades were staged by citizens fed up with strict anti virus restrictions, while it didn't directly address the protests, the statement serves as a reminder of the party's determination to enforce its rule. There has been a massive show of force by the internal security services to deter a recurrence of protests that broke out over the weekend in Beijing and other cities, security forces had been conducting random ID checks and searching mobile phones for evidence of participation in demonstrations. I'm Charles De Ledesma
Everyone Is Keeping an Eye on the Fed and Inflation
"Financial front, as I said, we had a great discussion today about inflation. I think it's going to continue on. I think that the fed, everybody's watching, of course, Jerome Paul very, very carefully, but I think that the fed is really not going to have a choice but to continue. It's aggressive interest rate stance. It's frankly not aggressive enough from my standpoint, only because I'm looking at the inflation that we have today. If you look at this on an orange to orange basis or apples to apples, basis what you find is that inflation is much more like what we had in the early 1980s. In other words, when you use the same metrics that they used back in the early 80s, you find, you know, we're right there. We're like 15, 16%. Inflation. So what happened then, Paul Volcker stepped in, you had a major effort there and a coordination, frankly, because I don't think he could have done it without Ronald Reagan going for it. And so that was a testament to the leadership of Reagan as well that they were able to come in there and actively move on interest rates in a very aggressive way. You don't have that happening right now. And thus, there's so much money. And
BlockFi Sues Sam Bankman-Fried Over Robinhood Shares
"Now when it comes to the crypto contagion story, not much has changed since yesterday. There is still a conspicuous lack of updates from genesis and digital currency group, although some amount of doom posting has subsided. Whether that's because there's new information or simply declining engagement with that doom posting, it's not exactly clear. Still, for those looking for a sliver of hopium, yesterday, massari's Ryan selk wrote, I am 90% confident that genesis does not need to go into chapter 11. That would be a strategic choice, but not a necessity. Beyond that, the most interesting follow-up to yesterday's contagion stories is a bit of bankruptcy to Ted between BlockFi and FTX. If you listen to the show yesterday, you know that BlockFi filed for chapter 11 on Monday. Well, on the same day, they also sued Sam bankman freed. Their complaint is aimed at emergent fidelity technologies, which is one of Sam's wholly owned holding companies. The suit is demanding that emergent, AKA Sam, turn over, quote unquote, unspecified collateral, which would be interesting on its own. However, according to loan documents seen by the Financial Times, the collateral in question is SPF's Robinhood shares. Remember, earlier this year, Sam bought about 7.6% of Robinhood, which sparked massive rumors that he was going to try to acquire the company outright. So here's the core of the suit. BlockFi claims that on November 9th, which was of course when everything was falling apart for FTX, but a couple days before its bankruptcy, emergent signed an agreement to guarantee Alameda's obligations to BlockFi, pledging a certain common stock as a security. When it appears like from the outside and looking back, was that as Sam was frantically trying to save FTX in Alameda from crumbling under their own weight, he tried to get BlockFi to chill out on calling do some of Alameda's deaths by pledging his Robin Hood stock as collateral. Now, importantly, earlier this month, FT also reported that based on signal messages they had seen, SPF had at the same time been trying to sell his Robin Hood shares to various parties directly. Those sale attempts continued right on through signing this pledge all the way until the evening of November 10th. However, whatever deal BlockFi thought it had was shot all to hell when FTX filed for bankruptcy.
'Welcome to Crazy Town' With Eric and John Zmirak
"To crazy town. I'm not going to John's mere trying to process the crazy. We were just talking about Donald Trump letting people into his life, whom he ought not to let into his life. And I think he never admits he's made a mistake or it's almost like a policy with him, don't apologize. Most of which I agree with actually because in many cases, when you do that, people just attack you more. But I will say this. You know, you have to consider to whom your apologizing if it's the woke mob that's slathering for blood, you know, you let it go. But when it comes to the neocons that he appointed, this is 6 years ago, I don't believe he understood what he was facing. I don't understand that he understood he's facing a deep state, a uni party people that are really basically against him and they're kind of coming on board almost to manage him and to make sure he can't achieve his agenda and to some extent he has spoken out against a number of them. But in any event, we have to go back to Nick Fuentes because this is the other end of the spectrum. This is somebody that Trump never never, never ought to have allowed to, you know, have a photo or a dinner. He needs to have a better filter. My fear, okay? My fear is that this terrible mistake of inviting this pitiful incel weirdo next fun days. That this will simply be used by the rhinos in his own entourage and family and circle, the rhinos who do surround him, this will be used to keep out real conservatives. So this will be used to limit the influence of somebody great like Steve Bannon or Mike lyndell or you because this will get you what this does is it feeds into the narrative that there is this dangerous far right movement out there. And we have to avoid being tarred by it, okay? Donald, we can't be tarred by association with this growing dangerous movement. None of which is true. Nick Fuentes is not leader of a dangerous movement. He is a cult figure for a small number of disaffected 20 year olds with nothing better to do than watch videos that make Holocaust jokes
Caller: The Trump Dinner Is Feeding a Pre-Existing Dinner
"Thank you for taking my call. Voted for Trump twice and this dinner is just feeding a preexisting narrative. And the lesson I learned when I was young is that you're judged by the company you keep. And it's just not. But why doesn't that rule apply to Democrats? You know, I wonder how many times Obama had dinner with Jeremiah Wright? Exactly. You're exactly right. It's only one way. I mean, you know all the bad people that went in and out of The White House under Obama and then how about with Biden? I mean, he hangs around with some real, some real whack jobs. Absolutely. And that stuff never sticks to them because the Democrats are backed up by the media. Trump never has been, never will be. Exactly. I agree with you. And that's why we
It Seems Unlikely That Inflation Will Be Curbed Anytime Soon
"Announcing that it is going to switch to smaller interest rate hikes. Soon, apparently, like possibly as soon as December. Great, because that'll really do wonders to curb this inflation that is still near 8%. I mean, it's been just massive. Look, the reality is this, they pumped what nearly $7 trillion into the economy when it was all said and done. And I'm talking the combination between the Federal Reserve and Joe Biden's big plans and the Democrats big plans. And by the way, it's not like the Republicans are blameless in any of this anyway, because they went through with one two COVID stimulus checks, followed by more stimulus, because that's all politicians know how to do. So it should give us some concern about the future. I don't know how. I don't know how the fed curbs inflation when they're actually looking at just hiking by .5 as opposed to .75 as they had originally intended to in the month of December. I mean, don't forget. The last time we saw inflation like this was back in the early 80s. And when I say inflation like this, it's because this inflation today is very similar to what we saw back in the 80s. In fact, if you look on an apples to apples basis with the same exact criteria that they used back in the early 80s, guess what? You find that we are looking at more like 16 17% inflation as opposed to this 7, 8% that they're telling
"fed" Discussed on Bankless
"In the world that can create new U.S. dollars out of thin air. That's the fed's superpower. They make money. They could literally create new dollars out of thin air. Okay. So when the fed creates new dollars, it's like putting water into a swimming pool. And that swimming pool is called the monetary base. It's like how many original new dollars the fed is created. So when the fed creates more dollars that monetary base grows and when the fed basically sucks dollars out of circulation, the monetary base shrinks. Okay, for the first 95 years of its existence, the fed kind of gradually and steadily created more dollars. It expanded the monetary base to be about $900 billion. That was like the core foundation of U.S. money. 900 billion. And then between O 8 and 14. And about 5 and a half years, the fed created three and a half $1 trillion. So more than 350, more than three X, the way I put it is more than three centuries of money printing and about four and a half years. Is it fair to say for the first 95 years of the feds existence, they were largely responsible. And effective in their controlled metering of adding money to the pool. And then they just blew it out of proportion. Is that a fair description? That is a fair description. And you know, we could sit here for a long time and kind of debate, did the fed mess up in the 1960s, for example, by keeping rates too low for too long and stoking inflation. But the way I would put it is that from the day it was created in 1913 until about 2008, the fed stayed inside these lanes, okay? The fed said, we have a lot of power, but we're going to use it to do a couple important things. The first is to just manage U.S. currency. We're going to make sure we don't have massive inflation or massive deflation. We're going to keep the Goldilocks pot bubbling on the U.S. dollar. And then the second key job was that the fed was going to be there as the lender of last resort. If there was a banking panic, the fed would bail out otherwise healthy banks and stop bank panics. So for decades, the fed really stayed in this lane. And what happened after O 8 is that you had this very activist kind of heroic aspirationally heroic fed chairman named Ben Bernanke who was just like, you know what? We are going to be like the jobs program for America. We're going to be the engine of economic growth in America after 2010. We're going to do everything we can to stoke economic growth. And that's when they print 300 years worth of money in four and a half years. Another way to talk about this, you hear this really boring term of the fed's balance sheet, we'll just call that the size of the fed's footprint. When they print more money to increases their balance sheet, the balance sheet exploded from 900 billion in O 8 to four and a half trillion in 2014, and today it's 9 trillion. So you're seeing the footprint just expand dramatically. And it's broken outside the bounds of the job. It was created to do.
"fed" Discussed on Bankless
"Thankless nation we are super excited to introduce you to our next guest. Chris Leonard is going to help us get into the minds of the fed, he's an American investigative journalist, he's an author, Christopher's newest book, is called the lords of easy money. And that's an investigation into this institution we call the Federal Reserve. The subtitle of that book is how the Federal Reserve broke the American economy, manager feels broke right now and of course this is a crypto podcast primarily, but the fed impacts everything. Chris, welcome to bankless. Thanks for having me. So we want to get into the story of the fed. I guess, you know, high level question, though. Is what the fed is doing right now. Is that a new thing? Like, should we be worried? Yeah, we should totally be worried. I mean, that's the undertone. All right, cool. Yeah. Just checking. Yeah. I'm pretty worried about a lot of stuff. And what the fed is doing right now is not normal in any respect. And you know, I don't want to just launch into a soliloquy about it. But I think to answer your question, the core point that people need to know is that between 2010 and 2020, the fed just broke into an entirely new graph. They started doing these experiments with easy money that changed their role in the economy that changed the financial system and really, really deep ways. And again, it just broke the graph of what they've been doing. So they really broke the chart, started in 2010, they've changed the entire landscape of monetary policy. And that's the backdrop for everything they're trying to do right now. So, you know, we're sitting here in late 2022 and the fed is trying to so called Titan, you know, they're trying to hike interest rates and do all this stuff. We'll talk about quantitative tightening to fight inflation. And that sounds pretty normal. That sounds like the job of what the Central Bank does. It hikes rates to fight inflation. But the backdrop is, is that they're doing it in this wildly distorted environment that they themselves have created, which means that they don't really know what's going to happen. They really are like a person feeling their way through a dark room right now. And there's a tremendous amount of volatility and risk sort of underpinning what they're doing. So my headline is, things are the opposite of normal right now. And if there's one party that really has no clue how this is all going to play out, it is the Federal Reserve itself.
"fed" Discussed on The Trish Regan Show
"Okay, we got guy high inflation, major market volatility, and the threat of a real problem, like I mean systemic crisis, all of what we saw in 2008. The difference is we don't have any firepower. How are we going to fix this given that we've already spent trillions and trillions of dollars? I mean, estimates somewhere between 6 and $7 trillion that was printed since March 2020. It really makes you stop and think about whether or not now's the time to reconsider that computer and replace. So the Federal Reserve bankers that, my gosh, they just keep getting it wrong. Let's start first here with a little history lesson. Why this all came into being? It came about in 1914 after a bunch of investment banks kind of demanded it. You see, we had a big problem in 1907. The banking system was really facing a crisis. And so all the banks got together, lead actually by JPMorgan. Don't forget JPMorgan's CEO Jamie Dimon is the one who keeps warning of something that's even worse than a recession. What does that mean while we can talk about that too? But anyway, back in 1907, they had this big panic in the banking system. So all the big bankers they got together, and they came up with a band aid, right? A way to fix what was going on. They basically suspended deposits from turning into currency, and that was their way of fixing things. But they weren't too happy about it. It was pretty scary stuff. And so they went to government and they said, you know what? We got to find a better system. So in 1914, the Federal Reserve, the first Central Bank of the United States was created and the idea was they were going to prevent any kind of major, major banking crisis. And then along the way, they said, okay, we're going to try and stabilize employment, and we're going to try and make sure there's not too much inflation. And that was sort of their charter. But somewhere along the way, a funny thing happened on the way to the forum. Some were along the way, they became, I don't know, shall we say a little engrossed in themselves in their own ability?
"fed" Discussed on The Indicator from Planet Money
"Controversial. It's politics. Jerome Powell was vying for re nomination in November of 2021. And the months leading up to that happened to be when it was becoming clear that inflation was going to be a problem. And while we don't claim to know what was going on in Jerome Powell's head at the time, it is fair to say that emphasizing the fed's role in encouraging jobs was more likely to endear you to the president versus saying you're going to come down like a hawk on inflation and put people out of work. In the weeks leading up to the nomination, inflation was super high at over 6% and Jerome Powell was sounding like this. The time for lifting rates and beginning to remove accommodation will depend on the path of the economy. We think we can be patient. And in the weeks after his nomination, he was sounding more like this. Much more determined to rein in inflation. We are committed to our price stability goal. We will use our tools both to support the economy and a strong labor market and to prevent higher inflation from becoming entrenched. Finally, Bill points to bad luck. An economic speak that's large multiple, unfor castable inflation shocks to us regular people that's new coronavirus variants, droughts, and floods, plus, of course, the war in Ukraine. It just wasn't a good last 12 months for clearing out tangled supply chains and getting the economy back to normal like we'd hoped. Now Bill wrote these 6 main reasons. Kind of as a bad report card for the fed last year. But he's more comfortable with the fed's actions raising rates now. The staff and the policymakers at the fed are as good as they get. And so I have a lot of confidence in the crew. To bring this off, if it can be done, that's the team that could do it. Bill just wishes they'd started sooner. We have a link to bill's full list of reasons why he thinks the fed was slow to raise rates, the full list had 14 points. Find the show notes at.
"fed" Discussed on The Indicator from Planet Money
"Bill Nelson spent two decades working for the Federal Reserve, and he's now the chief economist of the bank lobbying group at the bank policy institute. And while Bill usually places more weight on the need to encourage a booming labor market, then fighting inflation, even he thinks the fed tightens too slowly. I think that they waited too long, they should have realized they had such a long way to go that they really needed to get started. So Bill has 6 main reasons why he thinks the fed took too long. Reason number one, which might sound familiar, the ghosts of fed tightenings passed. Instead of lingering regret over having tightened, perhaps too soon, out of concern for inflation that didn't materialize. We told the story of this low inflation period of the 2010s, and last week's episode called Jerome Powell's ghosts. And if you haven't already, we really recommend that you check it out for more in depth background. But the basic point is this Jerome Powell didn't want to lift interest rates too soon and risk unnecessarily crashing the markets and putting a whole bunch of people out of work. And that brings us to reason number two, a concern over inequality. When interest rates are low, businesses can borrow and expand more easily. That means a faster recovery. And that is particularly beneficial for low wage workers who were disproportionately black and Latino. Bill says this was especially salient for the fed in the wake of the 2020 Black Lives Matter protests. I think that that led the fed to redouble their desire to try to do something about unequal incomes. Bill's reason number three for the fed being slow is basically that the fed fumbled its communication, at least in hindsight. So think back to the early days of the pandemic. Good afternoon, everyone. And thanks for joining us. An enormous number of people out of work, border shutting around the world, and markets plunging. Here's Jerome Powell around that time. We're not thinking about raising rates. We're not even thinking about thinking about raising rates. Remember, interest rates were basically at zero. And so central banks wanted to reassure markets that they'd stay low for a long time into the future. And to keep credibility, the fed had to keep true to them. At least for a while. No rate increase, at least through 2022. But then by June 2021, inflation had shot up to 5%. So Jerome Powell was in this bind. Does he break that promise not to tighten policy and instead nip inflation in the bud?.
"fed" Discussed on Stansberry Investor Hour
"Okay, time for our interview once again. Today's guest is Mike mcglone. Mike is a senior commodity strategist for Bloomberg intelligence, a unique research platform that provides context on industries, companies and government policy available on the Bloomberg professional service at BI. Mister mcclone specializes in the broad investable commodity markets. He joined Bloomberg in 2016 with over 25 years of futures and commodity trading and investing experience beginning at the Chicago board of trade. Wow. Mike, welcome to the show. Hello, Dan, thank you. 25 years of futures and commodity trading starting in Chicago board of trade will teach you a thing or two, won't it? Yeah, it's nothing like getting your face ripped off by markets a little bit once in a while. I actually it's quite a bit more than 25 years. I started in 1988, but no, I think I hope I learned a few things and hopefully we can bring that out in the interview. Yeah. But before we do that though, Mike, I'm sure almost none of our listeners have access to a Bloomberg terminal. A few of them do, for sure. I know they do. But can you describe what is the Bloomberg intelligence service? When you get into Bloomberg, you type BI, what's that all about? Well, it's the it's a research arm of the terminal. The unique thing we do here is that I find wonderful. We're completely unbiased. I sit in front of this data dissemination machine all day all 24/7 and I come up with the best research I can without the heavy hand of being on the sell side and buy side influencing my views. So they're completely unbiased. I need editors, as we'll see by the end of this interview I'm more of a south side Chicago dam deeds in those guy, which is my connection to Chicago board of trade. But that's what we are. We're basically research arm of Bloomberg, and that's the advantage we have is this machine. I'm completely unbiased. And there's a bunch of us are more senior who just my main job has put out research and profound as I can to help investors make the decisions. And the cool things that trickles down to events and things like we're doing right now. And this to me is like the show and tell. It's a fun part of the job. I totally agree. Yeah, who knew having old would be so valuable, huh? So you wrote a pretty cool piece with kind of a cool title recently. And it was called Bitcoin, Ethereum dollars and 16,000 wannabes versus the fed. Let's talk about that because there's a lot going on in this piece. But maybe you could just sort of tie the whole thing up and generalize a little bit and then we'll get down into some of what you said in it. Good. But I think it's a great start. That's basically my January crypto outlook published the first week of the year. And it's the main focus, I think that people need to, that we should be focused on for cryptos in 2022. And that's the three musketeers of crypto. That's the advancing prices of Bitcoin and Ethereum. And the proliferation of crypto dollars. And so I'll dig into that a little bit. I fully expect the price of Bitcoin to continue to increase value versus dollars. Ethereum to do the same, although it's kind of got a little bit of head got a little bit maybe got a little bit too overdone in 2021. And the most significant part of that statement too also is crypto dollars. People call them stablecoins, but it's the most significant fact of the digitalization in cryptography in all this crypto crypto market that people are not aware of. And that's the proliferation of crypto dollars. So there's this term called stablecoins. That to me is misnamed virtually all these so called stablecoins, almost all of them track dollars. It's based in crypto dollars. So in the most widely traded tethers just one of them, and then there's a dozen wannabes, and that's basically the ability to transmit transact, transport dollars, 24/7 on a global basis without having to use a bank and earn interest. And I say 16,000 wannabes because that's the total number of crypto so called cryptocurrencies listed on coin market cap dot com. Last year was 8000. A year before that was 4000. So the simple rules of economics of entry and massive supply do not bode well for overall market. But there is a three Star Wars. And that is Bitcoin Ethereum and the proliferation of crypto dollars. Yeah, I own two of those. I own Bitcoin and Ethereum. You touched on something about Bitcoin. Well, you sort of refer to it. The idea that which I've noticed is that Bitcoin trades, it trades like a risk on risk off typical risky asset, and yet we all recognize we own it because we think it has this, you know, it's compared to gold all the time. It has this ability to become a store of value and maybe even an actual currency. What does it look like to you? Does the fact that Bitcoin trades in this risk on risk off manner bother you? Oh, no. To me, the Bitcoin is in the price discovery stage of a nascent technology slash asset. That's gaining adoption in a world that's going digital. That describes Bitcoin. It's the benchmark digital property right. So do we expect that trend to flatten out to accelerate or to diminish? I fully expect it to continue to accelerate. And the way I describe it is the main focus macro for this year is long risk assets is fighting the fed. The fed will tighten and continue to tighten and increase decrease liquidity until and or less the stock market goes down. That's just the way it works in history. Bitcoin cryptos are some of the riskiest assets. It's his Bitcoin. It's the least risky among the assets. And the significance I think is Bitcoin is at the cusp of transitioning from a risk on asset to a risk off digital store of value global collateral. Now, that's something I've been saying for at least a year. And I think it's happening, and that's part of my premise for this year. I fully expect the fed to just take away the punch bowl, be careful fighting the fed, but Bitcoin to come out ahead. And I think it's more like the stock market's going to likely to come out. I don't think people figured it out yet that there's only one way to slow down inflation. You have to stall, stop reverse the advancing prices of virtually all assets. That's the only way to really do it. And the fed is starting to do it. Actually, no, they haven't even started. That's a shocker. They haven't started. It's just warning. But to me, the commodity market has already kind of taken the warning that it peaked in October last year. Now, it's interesting up to those highs. Bond yields have already taken the 30 year peak around 2.5% back in March and April. Now it's close to 2%. And to me, that's what's this year is going to be about is I think we're going to look back at it as we should have learned our lesson don't fight the fed. The best thing happened is, you know, we have some analogs are looking for up to 6, 25 basis point hikes this year. To me, that's not going to happen because the market's going to do it for. So the stock market will just decline or stop going up and kick in the deflationary forces that were in place before we had this COVID distortion in global and basically what was a predominant deflationary trend. Right, you and another couple of folks that I follow on Twitter pointed out the futures are pointing to a hundred basis points, which would probably correspond to four hikes in 2022, and even that sounds like a heck of a lot to me. It's a dream. I.
"fed" Discussed on The Peter Schiff Show Podcast
"The unemployment rate for african americans would actually be six point one percent which is still pretty high and so the question was. Would it be appropriate for the fed to actually tighten policy when you still have six point. One percent unemployment in that subset of the communist even though the overall economy was at full employment if the african american economy was not at full employment would it be fair to that community to start raising rates. Even though that community hasn't reached full employment. Which of course is a ridiculous question to ask. Because the fed can't micromanage the economy to that degree and if the overall economy is already at full employment it can't just keep the monetary spigots on even under the keynesian nonsense to try to drive the african american unemployment rate down to. Let's say four and a half percent because what would happen to the rest. The economy right in their vernacular it would overheat so. You can't do that but at least to his credit pal admitted that look. We can't do anything about that. That if you want the gap between white and black unemployment narrowed. Don't look to the fed..
"fed" Discussed on The Peter Schiff Show Podcast
"That the fed has to be confident that it is achieved its goals and those goals are full employment and inflation of two percent and that seems to be the same goal for taper as it is for liftoff but before i really get into that discussion and those discussions came during acuna period. Wanna talk a little bit more about one of the comments that he made during his prepared remarks and again that had to do with inflation and pows acknowledgement that. The inflation rates have been elevated. But he blames it entirely on these supply chain bottlenecks. He talks about how those bottlenecks have pushed up the inflation rate and how those bottlenecks will potentially continue to make the inflation rate higher for a short period of time. I don't know maybe a few more months but nowhere in those prepared remarks and of course nowhere during the cuny that followed does the federal reserve ever accept any responsibility for those higher inflation numbers so none of it is a function of monetary policy. It's got nothing to do with too much money. It's just not enough stuff. And that's all because of these supply chain bottlenecks that are obviously going to unclog and free up sometime soon. But how did mention that. Of course the federal reserve does have tools and it stands ready to use those tools if inflation actually does become a bigger problem than they think and of course that is the bluff because if the fed actually was willing to use the tools it would've already used them the fact that those tools are still buried in the shed someplace proves that they have no intention of using those tools even if they can find him but he also indicated in his statement that since there has been so much progress made to achieving the feds goals that it would become appropriate or it may become appropriate rather to begin a gradual tapering process. So in other words we're closer to beginning a gradual process. Maybe soon is basically what he's saying. All sorts of conditional words. Maybe it will be appropriate. Well maybe it won't be appropriate. We're going to begin but it's going to be gradual. And how do they know. I mean gradual does even make any sense in the context of during the qna. Powell said that he believed that the taper would be finished by the end of next year because he has repeatedly said and he said again today. That the liftoff in raids won't begin until after the taper is finished meaning they have completely tapered. Qe down to zero where the fed is no longer buying any bonds. And in fact. Powell said himself in response to a question as to whether or not he would raise interest rates before they're finished tapering and his response was that that policy wouldn't even make any sense because he acknowledged that as long as the fed is buying bonds and doing qe..
"fed" Discussed on POLITICO Dispatch
"Might that be. So the main name that you hear is Lael brainard climate change by all accounts is going to have important impacts differentially across the economy over a long period of time. You just look at areas that have been afflicted by wildfires or by more frequent historic levels of flooding and she is also on the fed board. She would be sort of an easy choice because people already know where she stands on things. Markets would expect that there would be relative continuity in the fed policy. So they wouldn't have to worry about whether they need to readjust as to what the fed might do on monetary policy on the interest rate side. Obviously she might be slightly different but it wouldn't be a a radical change on that side and she's the person that you know. Basically everyone on the left can agree on whether they're you know vocally enthusiastic about her or not. She sort of the person that everyone on. The left has decided that they can live with. Do we have any indication at this point of where biden wound up coming down on this so biden has not publicly given any indication as to where he might go on. We do know that. Treasury secretary janet yellen who herself used to be fed chair has told people that she thinks. That powell deserves a second term. And she'll be sort of a key person in that decision Powell was also sort of the bipartisan choice. He he would be likely to get a lot of a lot of votes. But there's also a lot of pressure because there hasn't been a democrat really in that role much at all over the last more than thirty years. It's basically just been janet yellen in that time and so there are. There are a lot of democrats that are saying you know why not put our own person in there victoria guido. Thanks so much for talking with me. Thanks for having me on. also today. The treasury department says it plans to award the remaining thirteen billion dollars in federal renzo aid to states and localities that have been the most effective at delivering the assistance congress authorized forty six point five billion dollars in emergency rental assistance to keep tenants house during the pandemic but the program has been plagued by bottlenecks at the state and local level for months just over. Ten percent of the total funding have been distributed to renters and landlords by the end of july houston philadelphia in new orleans are among the city's expected to receive additional aid. The treasury department says state and local programs that have quote substantially expended their first round of funding and obligated lee. Seventy five percent of their second round will also be eligible for more money and the justice department is announcing a ban on no knock entries for its law enforcement agencies and choke holds unless the use of deadly force is authorized. The new directive applies only to law enforcement overseen by the department including the fbi. Da and us marshal service it does not apply to immigration enforcement agencies or state and local law enforcement. The move comes over a year. After the deaths of george floyd and brianna taylor taylor was killed by police. In march. twenty twenty after officers executed a no knock warrant on her home. And floyd was murdered in may of twenty twenty after minneapolis. Police officer derek. Chauvel knelt on his neck for over nine minutes. Today's episode of politico dispatch included music composed by brake master cylinder. Be sure to subscribe to politicos. New podcast global insider which just launched. Today you can find a link to it and this episodes shown outs. I'm jeremy siegel. Thanks for listening. The following message comes from politico dispatch sponsor. At and t. Accessible affordable broadband helps communities reach their american dream for moms like brooke dryden it means ensuring that their children have access to the virtual health care. They need in order to thrive and achieve their dreams. That's why at and t. is making a two billion dollar three year commitment to help. Close the digital divide to learn more visit. Att dot com slash connecting communities..
"fed" Discussed on WSJ What's News
"We'll be hearing from federal reserve chairman. Jerome powell today. The fed is in the middle of its two day meeting early. In the pandemic the fed committed to buying up billions of dollars in assets such as bonds each month to signal confidence and certainty to a market that was volatile and getting weaker now with a rebound in the us economy. The fed is focusing its discussions on went to scale back these policies to get inside the feds thinking. We're joined by the wsj's chief economics correspondent. Nick tim rose either nick. Hi mark so nick. We've heard lots of talk about the fed scaling back. these purchases. our listeners may have heard of it as tapering. What do we mean here. The idea of tapering is simply how. And when do you pull back on. The purchases of those treasury securities mortgage backed securities. The fed is buying eighty billion a month and treasuries and forty billion a month and mortgages and they're not likely to stop cold turkey instead what they did the last time they reduced these purchases or they tapered them was gradually reduced. The amounts they bought every month and so they gradually went down to buying zero over the course of a year. So when it comes to the scaleback why does it matter how quickly that happens. Investors are going to pay a lot of attention to how quickly that happens in part because the fed has signaled that they don't want to raise interest rates until they have finished that process of tapering or of completing the purchase of assets. So if they end that soon. It means that it's possible. The fed could feel you know have more flexibility to raise interest rates. Sooner if it takes a long time it could the fed in to you know waiting even longer before they discuss when to raise interest rates. Then there is this question of inflation which has confronted the fed so far. The fed has been hands off. Has that position changed at all. No it's not likely to have changed yet. The fed now has had three months of surprisingly strong inflation readings. They already expected there to be a balance just from the reopening effects on the economy but the increases have been broader-based and larger than the fed expected. So there is a debate right now. There are some people who think gee this is looking a little bit harder than we thought. Maybe we need to change our policies sooner because maybe inflation's not gonna come back down to our target which is two percent a year as soon as we thought. There were other people who say no. It's very clear. These are being driven by airfares and hotels and used cars. Things that have been disrupted by the pandemic or by this semiconductor chip shortage and it would be foolish to decide now to raise interest rates if we think these things are going to reverse. So it's it's the debate is not going to be resolved at this meeting. It's probably not going to be resolved at the meeting after this one. But it's there and the feds gonna wanna see a few more cards before. They changed their view or their narrative about what's happening with inflation and nick a big moment during these fed meetings. Is the news conference with the chairman at the conclusion. Wall street has been given some hints as to win. The near zero interest rates will be raised. I'm wondering if that will be a big question when the chairman takes qna today it's always a big question. It seems unlikely that we're going to learn as much today as we did at the last meeting. If you recall the fed's last meeting officials produced their quarterly economic projections and along those projections. They say where they think. Interest rates should go and those projections were surprised because more officials were pencilling in interest rate increases next year or the year after they hadn't done that in the previous set of projections and march. There won't be a new set of economic projections at today's meeting. So it's unlikely we'll see much how their views have changed. But we know now that there's a bigger divide a bigger debate because of this great economic uncertainty right now that's permeating officials who have to decide on interest rates chief economics correspondent nick. Tim rose nick. Thank you thanks so much. Mark and finally went prices for just about everything are rising. There are ways to cut costs. If you're careful here at the journal we've been looking at ways for people to reduce their monthly broadband. Internet bills personal tech columnist. Nicole win has more. A lot of folks were blindsided by sudden price hikes. Some signed up for internet didn't realize they were signing up for an introductory price a promotional rate that expired suddenly after two years that two year expiration date was somewhere in the fine print but not explicitly in their bill and so when it came time to a price hike there was no warning and they experience increasing rates every year. You can hear tips from nicole on what to do about your internet bill on our sister. Podcast your money briefing. And that's what's news for this wednesday morning. We'll be back tonight with the new show but were always reporting the news on wsj.com and the journal app a mark seward for the wall street journal have a good day and thanks for listening..
"fed" Discussed on Rich Dad Radio Show
"About money. Thanks to robert barnes. He's a guy with george gammon taken on the fed which i love and i'm glad we got it down to the rich dad level of comprehension. This is called the revenge of the nerds. And that's what this whole thing is these nerds are getting. Even i was jock in school. And i should never pick knows a little bastards. Do you know what i mean. It went to my high school reunion. You saw the nerds it into this. We all there's all nerds in our high school classes we all had nerds so yours class. Third independent person wasn't a jock. Wasn't i was made to kind of floated between everyone wasn't smart enough to be and i wasn't cool enough. I was not in the in crowd was a dumb jock. I play football. You know and jeeze nasty little bastards. The banks are our very okay. So robert burns. I mean he's taken on the fed but he's fighting. He is fighting fighting fighting for our freedom and for our liberties and it was such a breath of fresh air to hear all the legal lawsuits and things that are coming against this elite who want to control the most refreshing news like the red crowd took on game stop and took on whatever the taking on these days but we can fight back and so we use the same weapon they use on us social media. We use social meal. Take them on. I'm glad to hear that about locals. Because they've proven so let's fight back. You know what i mean. I i didn't like nerds though. I don't like them now. Roberts said that you because you've asked this question of so many of our guests. Why why are they doing this. Why are they doing this. Why are they doing this. And i think robert. Barnes gave us the best answer when he said they know the world will not accept what they wanna do evil bastard they that we do not want it and they know it and so they're using every trick in the book to make us compliant. That's what it was called the lillo atrocity. They got the german people will. How can we get the german people to you know. Murder total eighteen million six million jews eighteen million people but it all started with what they call a lil atrocity. We'll get them to wear a yellow star and thus the mask. That's your vaccine carton so that got to murder us all a little bastard. So i should never have picked on him bob. Turner here in our in our office. He's he said it really well. He says all we're doing is questioning. We're just questioning things. Were just questioning into question is like now. You're a racist. Now you're a conspiracy. Theories were just questioning. What's going on. Bobby kennedy junior a lot credit by that guy's got guts. Man you can just let the world run you over. It's like we're talking about certain members are families all you got your conspiracy theorists ongoing. No look at what they're doing is taking up that stupid mask on you taking a stupid vaccine. That's what hitler did idiots. You know as jim. Rogers said the other day. All way from singapore's is the one thing we learn about. History is what sarah so anyway. This is a great stimulating. I'm refreshed ready to fight back. And we want to bring robert barnes back and give us updates as we go. I think that's the most important pieces that we can fight back and we need to fight back and so don't just lay down and be compliant you've got we gotta fight. Final words are i. It's refreshing because i feel like there's a bunch of us that kind of feel the same way we're ready to fight but we're looking for that leader to help us take on the big because we can't do it ourselves and i feel like connected to robert burns for some reason i feel like i'll follow this guy wherever he's going which might not be smart but you know so i. It was very refreshing. And i'm excited about what he's talking about. What's coming down. So so what was it like. Because you're in miami george camman's event. What was it like to set the audience of watch this guy stand up there and he was actually the first speaker that i saw. We skipped the very first one. And i was instantly drawn in. I wanted to learn more. I could not wait till we got back. You know so. I could get him on the show to learn more because he's so smart he knows his stuff and he's taken on some very high profile clients and one exactly and so gave me confidence that this guy you know is the real deal so an when they start asking for more money to fight. Please donate generously. This is worth donating money to so we'll put a link to robert burns website in the description burns live p dot com to learn more about all the work he's doing and going to do with george gavan because georgia's elite guy funding. The final word. Kim no this is refreshing home all about the freedom of speech. I'm all about our freedoms and liberties the constitution protecting that so This was a very uplifting program for me. And i'm excited about moving forward in this direction as a us marine one of the highlights of georgia's vents in miami was the marines. Walked in and i forgot where i came from that a major and a staff sergeant and always remember that line because that was my education that went to military school and six years marine corps. And so i always remember colonel. Jessup played by jack. Nicholson in a few good men. And this is to all the american people all the people that world you want the truth. You can't handle the truth. I think that's what's wrong. With america we listen to the nerds. Thankful is the rich radio show. Podcast is a part of the c. Suite radio network for more top business. Podcasts visit c dash sweet radio dot com..
"fed" Discussed on Rich Dad Radio Show
"Any comments well yes. I'm really so happy to have robert barnes On the show today because he is giving us the legal perspective and very very high profile attorney. Trial attorney But you know that. I'm white why i love. It is because it it. It's sanity to me. Because i am pro-constitution i am pro free speech. I am pro. Free markets. And i am pro law. This is as as trump said. We are a country of laws. And i am pro law and all the narrative out there just as nonsense to me so i'm just thrilled to have you on giving a perspective from the legal side so thank you again to robert george. Gammons event in miami last couple of weekends ago and it was a blue. The audience robert just mesmerized the audience and so it was fantastic from tastic program. Political step one setback. Is robert kennedy jr. man that guy's a fighters and he mean he's like his his family. Oh absolutely i mean. I mean that that goes way way back. I mean obviously his father was assassinated. When he was a teenager his uncle was assassinated when he was When he was also a teenager. I mean so. He went through a or a little bit younger than that and and he just always been willing to speak his mind and his own family went through things that led him to say maybe vaccines. Aren't this sort of magical gift from the stork. You know like somehow like babies are born the that maybe there's something else. Maybe these are just drugs like anything else and we should treat them accordingly and From that he his children's health defense has been the one of the lead organizations particularly on the left one of the only organizations on the left that has been willing to say. These lockdowns are wrong. We should have public health public dialogue opposing censorship. he's brought major lawsuits against facebook for colluding with the state to suppress his organization in all he would do his site government reports and scientific studies. It wasn't like he was. You know looking out for anybody on the reddit thread and he was saying. Here's this theory you he was saying. Here's what this study shows. Here's what this study shows. Here's what the vaccine reporting services reporting so the and he's doing critical work at children's health defense does a publication called the defender. He's also very very good at at putting the dots together. So you know. He started putting the dots together very early on about bill gates that this was an about other related groups that have an ulterior agenda buying up the world's farmland like the bill gates one of the number maybe now the number one farm owner farmland owner in the united states. Like why exactly is that. I just don't i. It's a good a good way to think of this. As you say robert is just don't trust the nerds probably bad. You can't give them too much power you got to keep them locked up in the room. And that's the case with gates and so rob bobby. Kennedy's doing great work. Anybody with a vaccine issue or any other issue related to cova. that's under eighteen. Children's health defense is going to be taking the lead in bringing legal actions and petitions and lawsuits all around the world. So that's the organization to go to for people over eighteen. I'll be and some other lawyers will be taking a thank. You thank you thank you. Thank you and your website. Robert is barnes law l. l. p. is in peter dot com and so we'll be updating stuff. There in terms of the fed lawsuits will be updating stuff there with the kobe lawsuits for example. Well the legal ethics boards don't allow me to Give free legal or certain kinds of legal advice. So we'll happen to sometimes a letter will come to me By you know by in a bottle and his letter what happened to be a letter that anybody can copy and paste and uses. They want So the ethics sports can't complain and they actually this let her work. I did a letter for during the elections about certain aspects of audits and then that ended up leading to some good results and we did the same with the vaccine mandate as you know the the letter basically outlines the various legal objections have articulated here but putting sort of colloquial language accessible language so it doesn't look obvious it looks like it's written by someone who knows what they're talking about but not necessarily a lawyer in a bunch of people have used it all across the country and a good number of them have got good results because often when employers find out. Hold on a second. I might be on the hook. If there's something wrong with the vaccine if i mandate it there's a fair number of employers that reconsider their position because god so you know the it's a useful thing. I put that up on her locals board. That people can find and that that's a way to kind of help people but the law's the law firm website will have a lot of that stuff on it over the coming months so that people can use it however they want to use it as barnes law. Llp yes thank you now. Let's go into a georgia communist doing you. Well he's his crowd fund into appoint you to take on the fed. Can you guys take on a big organization. Why why pick on task. Why pick on eight hundred nerds exactly exactly nerds with real money. I mean what's amazing is. The fed is sort of dodge this for forever under this sort of fake some days. They're public some days. They're private depends on who they're talking about who's asking questions whether they're a governmental entity you're with their obligated by transparency or not when they want the power. They claim their governmental agency when they don't want people asking questions. They claim there a private entity and in two thousand ten. They lost several big foyer cases but they were very heavy. Lift freedom of information act. Yes exactly that's right of information. Act really powerful. People should look at it all. These vouch emails that are coming out now or because judicial watch and other people did a bunch of Foia requests the same with. I mean hillary clinton's email scandal all because people just kept asking for foia requests a lot of scandals over the last fifty years. It's some nour- a nice nerd. Some obsessive ordinary everyday person. Saying you know what. I wonder what this is writing a letter. And a foia request and what who knows what they stumble on in this case. Some people stumbled on maybe. Kobe was manmade. And maybe our government knew it all along so the same thing is is. I want to use in order to audit the fed. We got foyer. The fed and ultimately we're probably going to have to sue the because presumably So george came to me. And said hey. I want to do something to get behind the curtain to see what's really going on in the internal workings of the federal reserve because the federal reserve. You know i. I always have a principal for my clients. I'd say Never in writing and always in cash as uncle earl along would say back in the day but the government does is really bad at doing that. So the and consequently. I think there's gonna be a lot of stuff in writing and a lot of interesting cash transactions. And so. I wanna see where we and we're going all the way back to nineteen thirteen. So i have a bank auditor. Guy who's just been a bank auditor and a bank executive for twenty years. And he's doing this in secret. I'm not putting his name out there for obvious reasons. But he's been you know he's a he's a guy who's been studying the fed for forever so he's coming up with a long list of questions. Other people are sending the items..
"fed" Discussed on Rich Dad Radio Show
"Two funder of the world health organization. And the way. I put it as as people can agree or disagree with bill gates. My view is we should have public discussion and debate and dialogue about this. And we shouldn't let bill gates tell us what our lives are going to be and what bill gates thinks is bill gates knows. What's best for you and you shouldn't decide for yourself. He should decide for you. I mean here. You have a guy running around. They're calling him. They're treating him like he's a scientist. All he was was a big tech monopolist. Who is really good at stealing stuff as he himself bragged about with steve jobs and then really good at monopolizing stuff. I mean this is not a moral or or medical hero so pretty accurate the nerds running the world revenge of the nerds and the darkest one the ones that were you know. Had the really dark little. You know american psycho little drawings when they were fifteen in the back of the class you know they. They weren't the fun ones that you wanted secretly cheer for. They weren't the school jock. That's that's for sure. Oh no definitely not. I love what you said robert that the world would not accept what they wanna do. And so when we come back i wanna. I do want to get more into the the the whole controlling of the narrative that's out there with the mainstream media They've just put it. They've just made it so anybody that questions. Anything is a conspiracy theorist they're wrong. We're racist we're this. We're that and how do we. What do we do. How do we fight against that. So mr barnes is rich makes us money because we keep things simple and we're now back down to revenge the nurse.
"fed" Discussed on Rich Dad Radio Show
"Its history for virus. That's not even that lethal to most populations so that the where the unknown risk of the vaccine that the long tail risk you could say are going to be much Are the ones that are really dangerous. Compared to the short term risk of of the cold it so it so it was no question. This was the protocol that procedure was to condition people. It was a real live milgram experiment and we just went through it and so as an attorney looking at this vaccine passport. what's legal. What's not legal in my view. None of it is legal under the number code of nineteen forty seven which almost all western all countries around the world adopted. Because the whole you know we went through this before where we trusted a bunch of white lab coats to run the world and it led to the connie buck decision. The us supreme court morally horrendous. One of the worst decisions ever. That's at four. Sterilizations was okay. It was road relied on a prior decision called jacobson which said force. Vaccinations could under certain circumstances. Be okay and then that ultimately led to coronado to. I call it the trilogy of infamy the jacobson the buck and the komatsu decisions where the government said. We can do whatever you we want to whomever we want. Whenever we want under some fear pretext we have sent said. Those decisions are horrendous particularly the latter two so ah given that the number code of nineteen forty seven and those three decisions predated. That was supposed to stop all of that. Because it said no more experimentation on human beings period in the name of medicine or the name of science states have no right to do so and what states have to get his informed consent. And what that means. Is you have to be informed and an consent means. it can't be mandatory. Our emergency use authorization statute under federal law incorporates the nuremberg code explicitly and expressly and says you cannot mandate this vaccine while it is simply an emergency use authorized vaccine. This was decided in the dovy rumsfeld case when they tried to force it on a different experimental vaccine on on soldiers in back in two thousand one in two thousand and two then they trying to do an anthrax experimental vaccine for people going into the iraqi war theater. By the way that backfire. You know those who did take it. That's another story There's a long history of this swine. Flu vaccine. people can still look it up. Sixty minutes nineteen seventy-six. Last time we rushed a vaccine to deal with an epidemic. The vaccine became the epidemic vaccine became the real problem. And that's a concern here as well that this absolutely and it should be it and this is about people's right to choose what i tell people. I'm not arguing for the vaccine against the vaccine. I'm arguing for ordinary everyday people's right to choose for themselves. What is good for them for parents to choose for their children not schools not governments not politicians for everybody to choose for themselves. Because that's what the number code of nineteen forty seven was all about. It was never again and in my view in fact federal courts have been forced to nuremberg goat. The there i believe is part of the constitutional. The right to privacy includes the right to bodily integrity. How is it. You could have a right to terminate a life in terms of abortion. But you don't have a right to determine whether the government sticks some experimental product in your body those two. Don't go together. I if somebody believes in one. I don't see how they believe in the other And so in my view it's not constitutional. The number code is enforceable. The statue doesn't permit it. There's also issues with employers doing under the ed. The ada americans with disabilities act so there's issues with government requiring public disclosure of it under hippo. So i think there's a range of issues That legally are going to be litigated by me. And bobby kennedy on these on these cases to the degree they actually start mandating so once again going back to my original question why i mean this is this is. I'm them down to the rich dad level of comprehension. I think these guys are a bunch of nerds in school. do you wanna meet. And they got no respect and they thought the only way they could get respect. It's become this academic elite and look down their noses on people and all this and it's in my opinion the star dark side coming out. They want they don't like being nerds they want. They want to control us. Didn't like that. They weren't cool. Is that over-simplistic. We're living an age of bond villains of real life. Dylan's yeah as your typical old school. But before the recent the bond films you go back to the seventies and the sixties your bond films were over the top. These kind of personality's ego driven you know personal vendetta driven people who once they seized power going to show the world how important they are and there's probably nobody who Sort of embodies this more than bill gates. I mean and you have a guy that for a dozen years has been pursuing this kind of stuff you go back and listen. I mean. he believes in death panels. He's been obsessed with vaccines for over a decade. He thinks it leads to reduce population. And whatever you think of bill gates politics or belief structure one of the things. He did well as he spent a massive amount of money just on public health authorities. All around the world in politico actually did a piece on it. For years ago or whistle blowers were saying. This guy has way too much influence in the world public health space and this was the european version of politico. And it's the and we saw happened in this pandemic. When the lockdown every strategy that was put out with something that bill gates endorsed over the last decade. He was the principal guy behind the models. The models are principally funded by him number..
"fed" Discussed on Marketplace Morning Report with David Brancaccio
"What is the fed thinking for marketplace. I'm revenge sure. In for david brancaccio. Investors are always trying to read the tea leaves and figure out what the federal reserve will do next as it manages the us economy. They'll get another chance tomorrow afternoon when the fed releases the minutes from its june meeting marketplace's nancy marshall genzer joins me now live with a preview. Morning nancy good morning cyber so for starters. Can you just explain what the minutes are yet. There's summary of the fed meeting and this is actually meeting of the federal open market committee. That's the panel that actually makes interest rate decisions fed chair. Jerome powell is on the committee. As are the presidents of the various fed regional banks spread across the country and the minutes are not of rebate. Begum transcript but they do tell us what the fomc members talked about in. What economic developments. They're watching so their notes when meeting. Why are the ones coming up tomorrow. Getting so much attention. There was a big shift in some of the economic forecast. The fed issued after. It's june meeting it. Signal to possible interest rate hikes in twenty twenty three and some of the regional fed bank presidents have said the fed could start removing some of its extra pandemic support for the economy this year. But chair powell says things will be more gradual. So what uh specifically will investors be looking for when these maps released at one of the things. The fed did to prop up the economy during the pandemic was buy bonds. And that's designed to keep markets running smoothly so traders will be looking for clues on when the fed will start tapering off those bond purchases. Also they wanna see what things. The fed is monitoring to figure out if the inflation we're seeing is temporary and investors are trying to get a sense for how much of a recovery in employment. The fed needs to see before it can say. We've made substantial progress. Marketplace's nancy marshall genzer. Thank you so much. You're welcome the government of hong kong is trying to crack down on dachshund that is when someone's identity or personal information is maliciously posted online and can make them a target of harassment in the physical world tech firms including alphabet facebook and twitter or the groups that represent them argue that the law is so broad. It risks smothering free expression in a letter. This week singapore-based asia internet coalition said tech companies may have to pull out of hong kong. Here's the bbc's. Kate silver in singapore. According to this letter it says that basically it's a completely disproportionate. An unnecessary response law. That would potentially make some of the employees. These big tech companies liable for what is known as boxing. And we've reached out to all of these big tech giant's today. None of whom have.
"fed" Discussed on The Indicator from Planet Money
"You if we were grading on a curve these extremely boring and wooden speeches given by federal reserve chairs these actually represent shocking level of sharing and openness. This is according to sebastian mallaby author of the man who knew the life and times of alan greenspan if you go back to the early one thousand nine hundred eighty s. The central bankers almost didn't communicate at all with the markets and with the public. They were changing rates. They wouldn't even tell people there. Yeah there was near press conference. There was no announcement behind. close aide. they just did it and then over time bit by bit. The fed began to communicate. More specimens says that it was a major economic crisis that ultimately coached the fed down from it's fortress of secrets namely the housing crisis. Two thousand and eight so at that time banks and markets were collapsing and federal reserve chair. Ben banenky saw that he could speak out and actively reassure markets stabilize them almost immediately by announcing and explaining policies and actions federal reserve was taking. Its super tempting. For central bankers to exercise the awesome power. They have when they do communicate with the market. And there are amendments when the economy is really in the dumps and the need to stimulate it but of course there are two sides to the open communication coin derian case in point the taper tantrum. The tape attention. It happened in two thousand thirteen years. After the worst of the housing crisis was the economy is growing. Jobs are coming back all of the money that the fed has been pumping into the economy for years. That have worked. Things were stable but then fed chair. Ben banenky he said something that rocked global markets. Here the wiz that roiled the globe if we see continued improvement and we have confidence. That is Going to be sustained and we are convinced that that is sustainable. We will respond to that so translating from fedspeak to english. Burkey is saying yeah. Things seemed to be going pretty well. If that keeps up we might slow down the billions of dollars in stimulus pumping into the economy every month. Just like tapered off very slowly. At some point maybe special says that people heard these words and they lost it. I mean people just totally free care. The stock market went on the bond market went down currencies crash and so there was this huge great global financial panic just based on the fed chairman. Saying maybe at some point. Not sure. When i might to something. Sebastian says that because the federal reserve was such a cryptic sphinx. So long everyone had become hyper sensitized. Any hint that the federal reserve gave the what it was going to do. So vague talk about future plans made. Everyone assume that the federal reserve was about to take drastic immediate action. The markets panicked. They threw a tantrum. I mean the idea suggests that you've got a child is having a tantrum because they were used to getting a chocolate bar after lunch. You're saying that maybe in the future at some point you ain't got a chocolate bar after lunch. And they are so used to that that they have attention and the result. The fed leaned even hotter into that stilted fedspeak. Sebastian says that every phrase single word. That jerome powell says tomorrow. We'll have gone through dozens of people. Dozens of times things like the economy is still recovering. Or should we drop the words still. I think we could probably debate that for twenty minutes. And this isn't a specially. Tricky moment for the federal reserve sebastian. And that is why. Jerome powell speech. Tomorrow is such a big deal so the federal reserve has been pumping billions of dollars into the economy every month since the covert crisis hit is also pledged to keep interest rates near zero but at the moment prices across the country are rising and it would seem to be a time to at least maybe start talking about eventually possibly nudging interest rates up or maybe easing up on the stimulus eventually just to let the economy cool off if things keep going as they are but sebastian says that the fed also noticed that if it's so much as hint any of us could be another massive global tantrum right long. The fed would like to telegraph to markets that they're not going to raise interest rates but at the same time in the future. Anybody sensible knows that they're going to have to ease off but if they say that about the future it will have an impact instantly that minute. We know that the fed knows that it has to raise interest rates. The fed knows that we know that it has to raise interest rates. The fed can't say that that's the kabuki. Sebastian says he wishes that could be just this reset of this weird dysfunctional relationship between the fed and the markets have the fed. Just tellas straight up. Real talk talk like a human being just once please the first time they did that. The markets were collapsed. But after a few times they would come to realize that the fed is just showing what the truth is which is at some point they will taper but they know when the ferber is the markets. Cry themselves to sleep. But if you were the fed chair what you do in this situation. If i were the fed chair i would have a tough time. Doing anything different. I would probably do the same thing i understand. I mean if you're fed chair you've got all these people's pensions and jobs and companies and workers and all of these people who could potentially be a casualty of you know real talk. It's enough to make even a loquacious person turned into a mystifying. This episode of the indicator was produced by. Sam sei with help from billy moon. It was fact checked by michael fought. The indicator is edited by cape cod. Canon and is a production of npr. Also please follow us on twitter. We are at the indicator..
"fed" Discussed on The Indicator from Planet Money
"If we were grading on a curve these extremely boring and wooden speeches given by federal reserve chairs these actually represent shocking level of sharing and openness. This is according to sebastian mallaby author of the man who knew the life and times of alan greenspan if you go back to the early one thousand nine hundred eighty s. The central bankers almost didn't communicate at all with the markets and with the public. They were changing rates. They wouldn't even tell people there. Yeah there was near press conference. There was no announcement behind. close aide. they just did it and then over time bit by bit. The fed began to communicate. More specimens says that it was a major economic crisis that ultimately coached the fed down from it's fortress of secrets namely the housing crisis. Two thousand and eight so at that time banks and markets were collapsing and federal reserve chair. Ben banenky saw that he could speak out and actively reassure markets stabilize them almost immediately by announcing and explaining policies and actions federal reserve was taking. Its super tempting. For central bankers to exercise the awesome power. They have when they do communicate with the market. And there are amendments when the economy is really in the dumps and the need to stimulate it but of course there are two sides to the open communication coin derian case in point the taper tantrum. The tape attention. It happened in two thousand thirteen years. After the worst of the housing crisis was the economy is growing. Jobs are coming back all of the money that the fed has been pumping into the economy for years. That have worked. Things were stable but then fed chair. Ben banenky he said something that rocked global markets. Here the wiz that roiled the globe if we see continued improvement and we have confidence. That is Going to be sustained and we are convinced that that is sustainable. We will respond to