Jay Powell's Speech at Jackson Hole | Bloomberg Surveillance 08/25/23

Tom Keene, Jonathan Ferro and Lisa Abramowicz continue from Jackson Hole Wyoming for a special edition of Bloomberg Surveillance. They talk to leading voices from around the globe, covering finance, economics, investment and more. This show is simulcast worldwide on Bloomberg Television and Radio.
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[stevenheaver]

Enjoyed the special.  Thank you Tom, Jon, & Lisa!

[PedalToTheMetal]

...''' BUT WHO''S DOING ALL THAT COUGHING IN ...'' BACKGROUND ''' ...

[andrewbaldwin]

Julia Coronado asks if the inflation rate gets down to 2.5% and things are humming along would the US Fed still want to push the rate down to 2%. Of course, it would. That's the inflation target. Under the old inflation targeting regime, the actual annualized inflation rate was 1.35%, much below 2% and the economy was humming along until COVID struck. A 2% target actually shows a distinct lack of ambition. Why not establish a target of 1.5%. It was only with the dysfunctional switch to an average-inflation-targeting approach, more appropriately labelled inflation overshooting at the zero lower bound, that inflation became excessive. From August 2020 to June 2023 the annualized inflation rate has been a horrendous 4.78%. It was really strange that with all the boffins discussing US Fed policy, no-one mentioned the crying need to abandon the US Fed's ruinous average-inflation targeting approach. This is hardly an irrelevant discussion for the future. There will be recessions in the future, and the US Fed will likely again push the federal funds rate to the zero lower bound.

[earl]

lets not speak of bank down grades and bank debt which is more than its solvency! lets not speak of commercial real estate or defaults on car loans credit card loans next student debt andloans we can keep going lol SHORT THIS MARKET!!

[tylerfraker]

UAW did this to themselves by whole heartedly supporting Biden and the legislation that allowed ford and others to export American jobs. As a NW Ohio native, let them reap what they sewed.

[BobbieMercer-vbpp]

2 more years till we're better off ? not happy YES THEY HAVE ! who's paying double price for a house and 8% in mortgage loans ? insanity

[jasono.]

Higher interest rates please, I like parking my money in CDs and bonds, not stocks. Let’s get to 6% 10-yr US Government bonds!

[Need_a_trailboss]

How did he get the July numbers before they came out did Powell just give us a trade?

[evelynramos]

Star forecast mist upon the Flux. Target towards and suggesting

[pranititiwari]

India is still a developing country.... the chandrayaan 3 lunar landing is "one thing issues like...farmers suicides, poverty, illiteracy rioting , lynching. Worst of crimes, , hiding ..crime rates. ."another "😢😢....though I did write congratulations to the I.s.r.o., , , being an indian.!!!!

[brianmurray]

Body count in Hawaii is over 430 so far! 😡😡🤬🤬