Federal Reserve Chair Powell testifies before House financial services panel — 7/10/24

Federal Reserve Chair Jerome Powell testifies on Capitol Hill before the U.S. House Financial Services Committee on Wednesday.

The appearance comes after Powell appeared before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday. There, Powell said U.S. economic growth is still solid but acknowledged that the central bank now sees the economy as having the two-sided risk of rising unemployment and inflation that is still above its 2% target.

"Reducing policy restraint too late or too little could unduly weaken economic activity and employment," Powell said Tuesday.

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Federal Reserve Chair Powell testifies before House financial services panel — 7/10/24

[Stevierockie]

Fed Chair Powell just testified before the House, and the stock prices plummeted. It's incredible how much influence one person can have over the entire economy. As the head of the Federal Reserve, Powell's words can send shockwaves through the market.

[dogegamer]

So basically almost nobody from Congress gives a rats about attending this critical meeting. The place is empty. Shameful.

[sucim]

54:00 LOOL "So eliminating the FED is best for promoting economic stability?" "YES"

[ivang]

If Ms Waters ever has a problem in public office, she will be able to take up a job as a comedian. That'd be a better use of her talents

[marzv]

Powell deserves a raise, he has one of the hardest jobs trying to satisfy the poor, corporate greed, greedy banks and investors, middle class, rich, and slimy over spending geriatric politicians! Don't get how they're grilling him when these house people are spending like a teenage girl with a AMEX black card. Powell is trying to tell you that jobs are still strong and we're still spending ridiculously. He keeps giving us clues but we're just not listening, we love plastics and just junk.. Merica

[mickeyslaven]

I couldn’t even make it through yesterday’s. They keep saying the dumbest stuff imaginable just for the camera. Not even asking him legitimate questions.

[shawncanon]

I’m just confused how they get to walk out during a meeting.. Any other job you would get fired how is this allowed

[dmtd]

Jerome is accumulating new printers for the new presidency for the last 4 years hes hobbies are printers

[loveline]

A crowd full of goofies asking idiotic questions....God bless America

[jackie-sdlc]

this is what happen in real world: A student interviewed by C student, like all the time in job market

[jwbbb]

53:38 - Powell agrees that eliminating the Federal Reserve would promote economic stability.

[ytrabbithole]

Yes, the economy is doing great, average young American can't afford a house anymore...

[lsmitty]

😅 inflation up well over 40 % not sure what world they are living in
FJB, morg rates have tripled in 3 years !!!!

[zenx]

2:08:45 is all you need to know on why the economy is in the trash

[RobertRituaRealEstateGuide]

Mss Waters, the Fed raise and lower interest rates to control inflation, has nothing to do with Diversity and Inclusion. The monetary policy does not discriminate. Money does not discriminate. If a business need to downsize, in a recession, they will need to lay off some of their workforce for the business to survive in those challenging times. Diversity and Inclusion in this case will bring the the company down if you're going to mandate the company to keep their workforce in those challenging times. If the company closes, they all will be unemployed. The monetary policy is a balancing act the Fed needs to deal with.

[larrybuller]

We dont need a law or DEI..Hire the best people regardless of there background, or color..

[monroy]

Ms. Waters always seems to seek out policy in the midst of the fed. Why os she even discussing Project 2025. Whaat was her point? Bravo Jerome Powell.

[momofsouls]

WHY WASN'T HE SWORN IN?!?!
It's hard to have and keep anyone accountable without being UNDER OATH!!! WHAT THW CRAP!?!?!?

[edwardloomis]

I salute Ranking Member Waters in her first committee hearing as head of the Whig Party.

[oltlvfm]

If money ceased to exist, human ingenuity and drive to build and innovate would persist. Throughout history, innovation and progress have often stemmed from necessity, curiosity, and the desire to improve our lives, not solely from financial incentives. Communities would likely find new ways to exchange value and resources, ensuring that creativity and development continue to thrive.