LIVE: Fed Chair Jerome Powell speaks at Cato Institute's Monetary Conference -- 9/8/2022

Federal Reserve Chair Jerome Powell speaks at Cato Institute's 40th Annual Monetary Conference.

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[chrislatella]

The pandemic didnt cause inflation, the lazy money printing instead of thoughtful action caused inflation.

[maxbmwsrr]

It’s funny that the idea of economic pain who means many people of the middle class losing their jobs and houses make him sleep well at night because he is rich and won’t feel any of the consequences

[Bizbuzzme]

Why do we even need a CBDC? Just get rid of the Federal Reserve, which is neither Federal or a Reserve.

[wesmorgan]

Unfortunate that JP doesn’t address the asset inflation (stocks and housing) that was rampant long before the pandemic and long before it showed up in consumer goods. The fed only has three levers, and it kept rates low and had little other means to deal with economic issues than QE. So it sacrificed asset prices as a result - you didn’t do anything in the past five years that increased the value of your home by a factor of two. Bad monetary policy is not new, and was only made worse by adding bad asset purchasing (QE) to bad interest policies. This dual mandate is fundamentally flawed, and will result in devaluation of our currency

[lankyrob]

Some tough questions i feel he doesnt normally face.
He answered in a way that the public wont understand a word of what he said but was completely open to the fact we are fu××ed.

[kenabbottweb]

First time watching a Cato interview...I'm impressed with the quality of questions - he asked most of the points I'm concerned about

[potter]

My dear Jerome.Simply tell the truth. Tell the world that the reason why we are having inflation is because you, the federal reserve is creating the Cantillion Effect by inflating the money supply at a ridiculous pace in just 2 years.

[mjohnstonflying]

"the current system is working good" what rock is he living under?

[CryptoTurtle]

CNBC please interview Ken Standfield, he always gives a deep dive view after Jerome speaks. Ken is a man with integrity with his information. Following him daily give me a much better understanding of the macro, the FED, and the world's event plus a trading mindset and it's free.

[peterwoods]

With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy. How can I grow my portfolio to outpace inflation and maintain a successful long-term strategy? I have been reading of investors making about $250k profit in this current crashing market, and I need ideas on how to achieve similar profits.

[kevinzoe]

You just dodge the part of printing too much money, which blow up the prices greatly...

[bbrebozo]

So raise rates but keep the balance sheet at $7 trillion, and maybe shift it to more government bonds that nobody will want to buy? What prevents the government from financing itself with non competitive rates if the have a guaranteed buyer that can print money?

[FreeSpeechAll]

"Nominal Income Targeting" = Universal Basic Income... or total government dependence and slavery.

[terryparish]

What a total FINICIAL mess every mistake possible you have made America is about to left behind due to bad decisions and a lack of knowledge of how markets work it's embrassing and scary !

[peopletrust]

at the beginning of 2021, house price already increase at 20% per year， the fed keep talking inflation is transitory and buy mbs like crazy.

are they idiots? or they just intend to do that? very wired.

[rohitkothari]

Thank you for the presentation so we can hear it from the horses mouth. Thank you Chairman Powell for sharing your thoughts.

[cutback]

Where was this "inflation concern" in Q1 2021? That was when rates should have been addressed as they are now. Anyone with a brain and is studying this sh!t knows that this is being done purposefully

[daniellloyd]

we've not seen wage increases federally since when again? Speak plainly. The issue is wages specifically in the managerial class and executive compensation coupled with what should be illegal employee stock based compensation. Those who never needed the pay bumps are the ones who got them and are now causing this issue.

[mrme]

The monetary system has evolved since 1690, not  by natural forces; but rather by the designs of bankers,   who profit by their manipulations.

Therefore,   what you are experiencing today is not what it was in 1940, or in 1900 or in 1860 etc.

It is important to keep this in mind, that the currency system is still in a state of flux, and ever further manipulated to advantage the banker and politician, and disadvantage further (steal from ) the ignorant common people (99.9%, ) but we the people dont understand this, or the extent to which  monetary practices have evolved to steal from us, because in our minds we work for money,   our parents worked for money and so did our grandparents,   so isn't it all pretty much the same with a little bit of inflation  ?

Hell no ! There have been massive machinations and manipulations designed to harvest your work and energy to the advantage and privilege of a few.

And because monetary principles are abstracts that cannot be seen with our eyes, they require mental effort to get our heads around. They are in fact, a completely separate topic to practical daily living, yet they effect our daily life totally.

The first principle to understand is that you have been robbed of real money by successive bankers, because the whole idea of  'Money ' is to hold something of real value as your own property,   and to receive something of real value for your labour and productivity.

But you get nothing,   you get zero of value.  You get paper, or plastic or electrons for your work and efforts, and these, having no fixed intrinsic value  weight or measure,   can therefore be manipulated and devalued before you even believe you have it, and faster than you can accumulate it.  Devaluation through inflation is the insidious tax your vote or will has NO power to address; the banker alone retains that privilege, and uses it to rob you every second of every year, night and day.

You have been hood winked by slight of hand and mind into accepting a constantly devaluing IOU for nothing,   all at the point of a gun, because 'legal currency ' means,   you shall accept this degrading note alone for your labour,   or the armed sheriffs will pay you a visit, and commit further theft and violence upon you, as the state retains to itself the Exclusive franchise to exercise violence.  When the State does violence,   that's OK.

Your forefathers were paid in real money, Gold and Silver, but the bankers were limited in what they could loan out by metalic money,   so they sought to do away with it, and they invented the promissory note, the 'bank note' which promised to be redeemable for a Silver or Gold coin.
They did this to remove the natural restriction on what they could loan out, because new debt at interest is their primary tool of harvest. Then,   gradually,   they removed the metal altogether,   telling you it was for your own good, because now you could have a booming economy and more commerce, and no limitation on how many hours both you and your partner could work .

(The 'full employment' mandate simply means you all shall work all of the time until you die, but in the 1700s 6 months work would keep you alive all year if you owned your land. )

Once they had the Exclusive note printing power,   they went to town, printing any amount their bought servants in government wanted, creating the national debt, whereby an unborn child is born in servitude and serfdom to an now $100, 000 to $ 150, 000 debt to who ?

That would be the share holders of the Federal Reserve if you live in the United States, or the Central Bank in your country,   and also the large private banks, for once government abrogated the currency creation power to both the Central and large private banks, they must then go cap in hand to the banks to build new public infrastructure.  So now every county,   state and nation has indebted their ' citizens' in totally unpayable debts to the currency creators.
Meanwhile after Bretton Woods the Federal Reserve sent its agents around the world to ensure that all Central banks were created in its own image,   doing exactly what it does, so no one shows them up, even though quite a few Central banks are not privately owned like the Federal Reserve is, yet they still create ALL new Currency as Debt which indebts you,   your children and grandchildren  forever.

That is a small taste on the first faulty monetary principle and that's before we talk about the unpayable interest on the new worthless currency that they create for zero cost.
There are 4 faulty monetary principles in practice that ensure 99.9% will live in servitude to the .1%
Unless you educate yourself and then teach your children and grandchildren,   you will remain enslaved, 70% of your work goes to the bankers and bureaucrats.

[havehope]

There's nothing wrong with our cash. Viruses will not be transmitted on cash. Never has, never will. We're keeping our cash, and our control of our cash.