Fed Chairman Jerome Powell on interest rate cut decision – 07/31/2019

Federal Reserve Chairman Jerome Powell speaks on interest rate cut decision at the end of the Federal Open Market Committee's two-day meeting. The Fed lowered its benchmark rate by a quarter-point, the first cut since 2008.

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Fed Chair Jerome Powell on interest rate decision – 07/31/2019

[alexbusson]

He's going down to zero eventually. But he's still got plenty of 25-point shots in the clip.

[craigm.]

I feel like i am watching a 12 year old read his book report his mom did for him....imbarrasing.

[markyouneva]

a quarter of a percent? fck yeah more credit card debt here i come!!! btw, all the babies in expensive business suits, stop throwing a tantrum in the markets when you don't get unlimited QE, tax cuts, tax loopholes, tax credits, and when (gasp) you are asked to make 1 billion less in profits so you can pay your employees a living wage so they don't have to qualify and take tax payer subsidized housing, healthcare, food and childcare. the working poor people don't have a way to throw tantrums.

[wranglerjames]

A true double talking politician.

Do away with the Fed

[srossh]

How does this help me again ? How does this help the working American ? I'm confused. DA

[bobright]

What about us on fixed income? Lowering rates also lowers CD rates which lowers income and spending of the baby boomer generation. Way to go Fed! Don't worry about us old folks!

[omega]

The unspoken reason...our out of control trillion dollars annual deficit... someone wants to build his "wall". Need to borrow more and more. Lower interest would help, but at what cost?

[anthonyalpha]

Housing bubble Commercial property bubble Stock market bubble BOND market bubble Student loan DEBT bubble Pension bubble Auto loan bubble. Chicago PMI at 44 now. And Powell says there's NO threats to the US economy? What a load of gas he is!

[pabloramonsarraldequintana]

Now, to see what the fomc is gonna do, one has to look at foreign data and foreign central banks.
Now, to hear what the fomc is gonna say, one has to listen to domestic noise and domestic

O'er the land of leadership and the home of independence.
O'er the land of downside risk and the home of symmetry.

🤷‍♂️.
🤷‍♂️.

[invitebig]

The funniest thing is Powell said his main focus with keeping the expansion going for the poor and middle-class's benefit.


The middle class and poor are the scapegoats for bad policy. Just like during the Great Recession, poor people buying houses they can't afford was blamed for the market crash, the poor will be blamed for the next crash. They never benefit in the long term.

[robgoren]

"to sustain inflation ... for the benefit of the American people!"
OMG. 😂😂😂 What a crock of shit!!

[williampgus]

There we go!!....economy is doing GREAT! But but but...rates going down!!

[virgoblue]

I got charged $50 late fee 1 day late on my credit card.

[anastaciocastro]

Stockmarket down and bitcoin up 🤔
Wonder what's going to happen when it pops

[bitcoinjimbo]

Time for a return to hard money... Bitcoin standard is on the way...

[ican]

Fed talks with the poor and lower class? LOL how? They are too big to go driving to the poor side of town to conduct interviews. How do they get their information?

[davidp]

Powell Q&A makes Robert Mueller look like a genius

[sharleeturkishdelights]

So everything will keep going down now?

[jermon]

Y'all better put more weights in your shoes because they're about to pull that rug from underneath everybody?

[automationtechnologies]

at 3% interest rate (=3% government debt lending rate) the US would pay 6 billion in interest rate in 10 years time. If the US wants to keep the public debt down they must have 0% interest rates.