Wall Street Week 10/20/2023

On this edition of Wall Street Week, Federal Reserve Chair Jerome Powell tells us why he thinks monetary policy is not too tight. Janice Eberly, Kellogg School of Management Senior Associate Dean for Strategy and Academics and Former Assistant Secretary of the Treasury for Economic Policy tells us why Chair Powell's assessment of the pandemic-era policy could dictate future monetary policy. Chris Ailman, CalSTRS CIO, says the markets need not just higher-or-longer rates, but just higher forever and Daniel Senor, Former Foreign Policy Advisor to President George W. Bush; author of "The Genius of Israel" stresses thee importance of technology to Israel's economy.
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[cheersmodreams]

A most excellent show. All of the segments were very informative and spot on. David Westin remains one of the better Q&A journalists in the Bloomberg family.

[joec]

Hey Larry Dummers, when was the last time you “spoke out equally for both sides? Never heard you call out Israel for forcefully evicting Palestinians from their homes or the “accidental” killing of another innocent child on a daily basis. 🤔

[detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank a subscriber of this content 👍

[mohammedsikdar]

Israel formed by sweeping out Joes from the Europe and America, not the original Philistine of Bani-Israel.

[Jaybearno]

My JP translation: our goal is to counteract irresponsible government spending by crushing the booming economy that was propped up by artificially low interest rates. We hoped that we could do this by raising interest rates alone, but it turns out that asset owners and wealthy are insulated from this, and continue to spend. We plan on keeping interest rates high until the lower class is so devastated that it starts to impact corporate profits. Even though we have the most power, we are not a political organization and therefore are exempt from calling out the obvious proximal cause of inflation (stimulus), and instead will blame it on something bland like “supply chain”.

[dejabu]

what is shocking is quoting Bush and Hillary Clinton on foreign policy and leadership, guys pls

[cortlandjdmayberryshraderm]

Interest rates is only one factor towards inflation other things that are the things that were called transitory is still with us there are other supply chain issues inflationary like those two wars and other forms of tension they are all commerce flows disruptors hence inflationary so many items are formed by petroleum and wheat for example so those two need to be more available and produced more

[marybailey]

Jerome is either delusional or a paid liar, which is it?

[joepolito]

This show has several illogical economic positions Powell contradicts Keynes “Increased investment will always be accompanied by increased saving, but it can never be preceded by it. Dishoarding and credit expansion provides not an alternative to increased saving, but a necessary preparation for it. It is the parent, not the twin, of increased saving.” (Keynes 1939, p. 281).
Ailman says government bond rates are going up because of all the issuance. Yet during recessions issuance goes up more and rates fall as do savings which relates back to Keynes. Ailman does not seem to understand that the banks are the creators of most of our money and will lower rates if they can lend more created money profitably.

[cortlandjdmayberryshraderm]

Great show nevertheless Larry Summers and flashbacks of the likes of Lewis ruckhouser

[johnmerlino]

They may not know it, but with "Higher for Longer" Bond yields, we could solve the Social Security funding and inequality issues. Raise 'Fixed Income" to what was normal at 5-6% and the 50% of wealthier Americans could be taken out of Social Security entitlements by the government. Or delayed by pushing selected Americans (collect at 69 rather than 67) in combination of the top 5% of rich American's do not get entitlements. If you go back to 'Near-Zero Rates' everyone will depend more on Social Security payments to stay afloat. On the War Front, this is part of China's CCP's Master Strategy and it's execution through the new East BRICS alliance. They are at war today with America, to weaken us with three war fronts (3rd in the South China Sea) soon. Beware regarding tech. China's strategy includes using "overwhelming lower tech weapons' against higher tech of America's military.

[jakethomas]

"It's a damn shame, " JPow can't crash this fiat funded Ponzi.
Must go higher for longer & don't Bogart that bong chairman!

[francescosantini]

Wall Street Week?
Louis Rukeyser must be turning in his grave.