Federal Reserve Chair Powell testifies before the Senate committee on monetary policy — 7/9/24

Federal Reserve Chair Jerome Powell speaks Tuesday to the Senate Banking Committee as part of his semiannual address to Congress on the state of the economy and monetary policy.

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Federal Reserve Chair Powell testifies before the Senate committee on monetary policy — 7/9/24

[HugoBergmann-lund]

First off, the belief that the Federal Reserve would stop raising interest rates was the driving force behind the entire economic chaos. What should we do now that we have a situation where interest rates are crashing? At this point, how would you suggest that I safely allocate $300k?

[LoriRish-]

The Fed's talk of interest rate cut leaves me pondering what stocks to buy now and when do I sell? I'm unsure how to properly allocate my money to achieve an optimal portfolio in this present economy, my goal is $3m for retirement.

[stephd]

Powell is like HOW ABOUT YOU DO YOUR JOBS.

[debraspossey]

I cant believe Yotta can keep peoples money and not make it available to them. I have very little money and used this as my emergency money. To my surprise when i tried to withdraw it because i didnt groceries it wasnt available to me!!! I need my money

[Seanpfree]

First-time home ownership is OVER. "Starter homes" are over 400k.. Average income is 60k.

Wonder why Millenials and Gen Z are doom spending? Not getting married? Not starting families? Why is civil unrest growing while the wealth gap is larger than it ever has been in history?

This economy priced us out and left us behind before we arrived. This doesn't end well for society at any socioeconomic level..

[SVJROADSTER]

Inflation is coming close to his 2% target. Instead of that ridiculous lie, he should give a list where he shops so everyone can see 2% inflation cause the stores I go into the prices keep going up around 10%. Restaurants are around 20%.

[huntercricket-tbdr]

No rate cuts. We need prices to come down and not interest rates. Rates need to stay high until this everything bubble implodes and all prices come down.

[sps]

Mr.Powell has done a great job, withstanding tremendous pressures from politicians to rate cut last one year....looking at economic situation month of august 2024 would be the first rate cut post the central bank meeting..

[hercules]

Dude lies his ass off. Then one day he's just gonna be like yup recession time

[Purlyboty]

Funny Mr Brown said if Wallstreets bets go poorly which they often do. I know he is referring to actual wall street but isn't the irony beautiful that R/Wallstreetbets was known for degenerate bets and gambles? Also what is the point of these meetings if Powell is going to repeat the same thing over and over again?

[MichaelSwg]

Love that opening speech from Senator Brown

[rimacalid]

Is this the big bubble we were waiting for?

[sloppyjoehillups]

“too much month at the end of the money”. Thanks Mr Scott. @12:44

[sandrakuo]

Do we have an inflationary problem or consumer spending habits problem?

[ananas]

How come nobody asked whether increasing rates during a housing shortage would accelerate the increase of housing prices and therefore make housing even more affordable than currently?

[GANAPATIIIII]

The paper money supply - is just too great and I think its best to purchase junk silver now - because it will never be worth zero - Best to prepare without breaking the bank - 👀

[NancyLi-wk]

If Kodak stock price is a beautiful mistake, how should we think about Kodak stock's return in value? Personal opinions, not investment advice🎉

[typicallynotawake]

these guys cant stop asking Powell political questions

[nick]

What a joke! Do these fools think we are dumb? Stop spending money we don’t have, stop printing money, stop sending money overseas, stop forgiving debt, start taxing corporations their fair share, start locking up criminals that are stealing from retailers, stop allowing corporations from buying up houses in America! Stop pointing fingers, both parties are 100% guilty and both parties have done nothing in the last 20 years to improve our situation.

[karabinb]

How the hell can you say that labor markets are balanced?? When there is no manufacturing market, and you add government jobs?? How is this strong and balanced??