Fed Chair Powell speaks after Fed hikes interest rates by a quarter percentage point — 5/3/23

Federal Reserve Chairman Jerome Powell delivers remarks after the central bank on Wednesday released its decision on interest rates following a two-day meeting.

The central bank raised interest rates by a quarter of a percentage point, a move that was broadly expected by the market.

The increase takes the fed funds rate to a target range of 5% to 5.25%, the highest since August 2007.

It was a unanimous decision by the Federal Open Market Committee.

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LIVE: Chairman Powell speaks after Federal Reserve's policy meeting — 05/03/23

[cae]

Quit your spending and cut your budget and Quit printing money!!!

[Brian-fqnr]

It is time to get rid of the Federal Reserve (a private corporation) and have our own currency.

[kimyoung]

The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?

[pedrolopez]

once again working people pay. Interest rates are a fraction of what drives inflation. Corporate greed with their constant price hikes need to be addressed. We need a windfall profits tax again.

[wilsonkrusk]

I'm not even kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it, Investing is a long-term game, so I try to focus on the long term.

[Seanpfree]

Omg.. Powell just said
"this time is different"
Smfh

[Bradleyschaeffer]

Every day we encounter novel challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2023, how can we enhance our earnings during this period of adjustment?
I cannot let my $680, 000 savings vanish after putting in so much effort to accumulate them.

[arrieweb]

FOMC 3 May 2023 Summary: Fed rate increased to 5.25%. Target rate decided to 5.5%. No decision to pause rate hike. Forecasted inflation at end of 2023 will be 3%, still 1% above inflation target only 2%.

[monroemullinix]

We do not have inflation. We have large corporations announcing record profits every quarter. Most of them own their supply chains, so they can prop up the PPI to make it look like wholesale costs are high. The FED is either complicit, or they're the dumbest people in Washington, DC.

[colonial]

Its awesome to watch the end of American global dominance in the world economy. Keep up the good work.

[DarylSimpson]

Is this a good time to buy stocks/crypto in the Europe? I know everyone is saying stocks are at a discount and all, but just how long will It take for us to recover, obviously there are strategies to manoeuver in this present market but these strategies doesn't come common to the average folk, or am I better off putting my money elsewhere.

[MIchaelGuzman]

The market and the Fed consistently underestimate the sticky nature of inflation. The markets are still unsure if the Federal Reserve will continue to its plan to raise interest rates until inflation is under control, despite the fact that bond yields are rising while stock prices are falling. What is the greatest strategy to take advantage of the current bear market while I'm still deciding whether to sell my $400k worth of stocks?

[baoloc]

The fed should be banned from trading stocks. If not its like playing poker with them knowing your hole cards.

[Seanpfree]

TRANSITORY..
Tells you everything you need to know.
Trust powell as much as Jim Cramer

[boardgamerants]

"The US banking system is sound and resilient." So calm and collected, while he seemingly lies. Gaslighting at a new level? Or incompetent? If either is true, which is worse?

[tampabayrodeo]

Pertaining the current bank crisis, I'm very concerned. I am worried about a lot more if a bank the size of SVB may fail. I have a friend who manages a fast-growing startup and was severely impacted by the bank run. I have taken more than $340, 000 out of my bank. The FDIC only provides coverage up to $250, 000. Additionally, the collapse may have negative effects. presently seeking to invest in the stock market. Does anyone know how I could go about it?

[judygilbert]

Hope CD rates go up again. There is always a silver lining.

[sterlingpless]

We have a ton of pain in front of us core inflation rate is two points above at 4

[maryaunna]

So us ppl do we need to just not buy anything thing for a month lol

[investmentking]

Hope Fed has theories and methodologies rather than just looking at the data. Everyone can determine the economic situation after seeing the data. Like companies make forecasts on sales to determine inventory and production, Fed should forecast economy to manage money supply and interest rates.