Fed Chair Jerome Powell Speaks in Jackson Hole

Federal Reserve Chair Jerome Powell speaks about the US economic outlook at the 2024 Jackson Hole Economic Policy Symposium.

[frunssk]

🎯 Key points for quick navigation:

00:00:17 *🧮 Post-Pandemic Economic Situation and Inflation*
- Overview of the economic conditions post-pandemic, focusing on the fading of pandemic-related distortions, improved inflation, and labor market conditions.
- Emphasis on progress toward restoring price stability and maintaining a strong labor market.
- Mention of the Federal Reserve's efforts to ease inflationary pressures through restrictive monetary policy.
00:03:02 *📉 Cooling Labor Market and Economic Adjustments*
- Discussion of the labor market cooling from an overheated state with rising unemployment and a slowdown in hiring.
- Notable decrease in job vacancies and wage gains, signaling reduced inflationary pressures from the labor market.
- The Federal Reserve’s commitment to supporting a strong labor market while adjusting policy to maintain balance between inflation and employment.
00:05:30 *🌍 Pandemic Impact on Supply, Demand, and Inflation Surge*
- Exploration of the pandemic's impact on global supply and demand, leading to inflation.
- Analysis of how supply chain disruptions, labor force shortages, and shifts in demand contributed to inflation spikes.
- Discussion of the initial belief that inflation would be transitory and the eventual realization that a stronger monetary policy response was required.
00:08:54 *🔄 The Fed's Response to Inflation and Global Economic Factors*
- Detailed account of the Federal Reserve’s policy shifts as inflation became entrenched, leading to significant rate hikes.
- The impact of global factors, such as the war in Ukraine, on inflation and the extended duration of supply chain issues.
- Focus on the broad global nature of inflation during this period, compared to historical trends.
00:12:07 *💼 Inflation Reduction Without Major Unemployment Increases*
- Explanation of how inflation was reduced without a significant rise in unemployment, a unique outcome.
- The role of reversing supply and demand distortions and the contribution of restrictive monetary policies to disinflation.
- Emphasis on the importance of anchored inflation expectations in achieving this result without economic slack.
00:14:27 *🔍 Insights on Inflation Expectations and Disinflation*
- Discussion on the role of inflation expectations and how they influence disinflation.
- Acknowledgement of the limitations of traditional economic models in predicting outcomes during this period.
- Highlight of the ongoing research and emerging consensus on the causes of inflation during the pandemic.
00:15:37 *🧠 Reflection and Future Learnings from the Pandemic Economy*
- Reflection on the unprecedented nature of the pandemic economy and the lessons learned.
- Commitment to ongoing review and adjustment of monetary policy principles in light of recent experiences.
- Call for humility and a willingness to learn from past challenges to better address current economic issues.

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[carvalhoribeiro]

Very good I like it so much. Thanks for sharing this. Where can I get the full speech?

[jaym]

Another FED success. Wealth transferred from poor to rich. New cycle to begin soon.

[virtuousxvillain]

Largest level ever of fiat currency creation was the reason for the inflation… basic stuff here.

[internetpointsbank]

Everything is at a all time high. Let's lower the interest rates and hit some more ath...

[gainer]

The EV sector charging Up Friday. FSRNQ.. Fisker.. Polestar.. Rivian.. Lucid..Evgo .Zapp...QS .. Lillium Evtol Jets..Blade Evtol Jets.. Vertical Aerospace..Evtl and more. Summer Surge Grows.?

[jw]

The task is not complete.

Everyone does not yet own nothing and also maintain our happiness target

[GHOST_X]

Nice to hear the Fed Chair give an acknowledgment to President Trump and Congress for saving the economy from a depression during Covid.

[lapeppa]

Jackson's hole? Who thought that was a good idea? 😭

[jw]

The rich laugh at you. They laugh at your from Jackson Hole and they laugh from Beverly Hills. They laugh at you in Martha’s Vineyard and they laugh at you in Big Sky. They laugh from Connecticut and they laugh from the Virgin Islands. They laugh at you. They laugh at me too but I can’t hear em over the sound of my own laughter

[Joeblow]

Low racial gaps what does the mean precisely 😅

[theorochannel]

Got it, its been... Let them Eat Cake!
The Gov and the Feds are like a modern Oligarchy. That never ends well when people have lost their homes, jobs and are hungry.
Hunger Games American Edition.

[nonratio]

Stocks to AH, gold to AH, prices in general to AH, just while he is speaking and dollar is falling. So where the hell is he fighting inflation?

[Tom-ymbm]

PS I don’t believe in boycotting Seaworld or anyone

[Nah]

There are no jobs in California. Dei, illegal immigration, government corruption, ridiculous laws to do business, has companies leaving and relocating out of state in droves.
You can't even sell a faucet here if you are a manufacturer without having to go through ridiculous flow rate rules that do not exist in any other states.
Just try to order something on Home Depot and most of what you want is not available in California. YOU WOULD HAVE TO GO OUT OF STATE TO BUY IT. SAME FOR VEHICLES IF YOU WANT SOMETHING GREAT YOU PRETTY MUCH HAVE TO LEAVE THE UNITED STATES AND IMPORT ONE YOURSELVES. GO TO EUROPE AND TAKE TO LOOK FOR YOURSELF