LIVE: Jerome Powell FED Meeting | Benzinga

Watch the live press conference with Jerome Powell, chair of the Federal Reserve, 2:00 p.m ET

The Federal Reserve System is the central bank of the United States. It performs five general functions to promote the effective operation of the U.S. economy and, more generally, the public interest.

The Federal Reserve conducts the nation’s monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy; promotes the stability of the financial system and seeks to minimize and contain systemic risks through active monitoring and engagement in the U.S. and abroad; promotes the safety and soundness of individual financial institutions and monitors their impact on the financial system as a whole; fosters payment and settlement system safety and efficiency through services to the banking industry and the U.S. government that facilitate U.S.-dollar transactions and payments; and promotes consumer protection and community development through consumer-focused supervision and examination, research and analysis of emerging consumer issues and trends, community economic development activities, and the administration of consumer laws and regulations.

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[a.a.]

PLEASE READ THIS CAREFULLY: If the Fed’s rate is raised more than 0.25-0.50, the US government must allocate almost one trillion dollars for bond interest rate payments. I see several-rate rises as empty threats. While the Fed’s rate is currently very low, the US government already pays almost half-trillion dollars interest payments to bondholders, which is equivalent to the total health annual budget. Now if they double the Fed’s rate, imagine the US government has to sacrifice education, defense, social securities, infrastructure, and health in the budget for interest payments for bondholders. Please check the US budget yourself. Don’t be fooled by this impossibility. The Fed wants the fear to suppress the market and do the dirty work instead. For the god sake Think!