I'm going to channel my inner Ron Paul here but the Fed shouldn't be controlling interest rates in the first place. Leave it to the free market.
Money is a commodity and interest rates are the same as any other commodity price. They contain information about the relative scarcity of resources.
Of course the Fed is politicized. What did anyone expect would happen when the free market was replaced with letting powerful people direct the flow of trillions of dollars?
Powell is a lawyer. He acts like a lawyer (risk averse) and I question his understanding of markets and money, not to mention economics.
It is past time for at least a 25 b.p. cut
As for Obama, Hilary, Brennan, Comey, Clapper and the rest of their corrupt gang, if one was reading the fine print, even in 2017-2019, it was clear that this was an op and a criminally constructed conspiracy. As per Strozk/Page texts, it was the "back up plan" to keep their grift going. Thanks be to God that in Trump's second term many of these money ops have been exposed and stopped. Why else would the Dem party be so broke?
"...People need to go to jail. But, the people who smoke Hopium and people with Trump Derangement Syndrome won’t look at data."
Nope, they won't, and the rotten Democrats behind the soft coup seem to be exempt from going to jail. I agree with Fishback BTW; Powell isn't doing anyone any favors with his overtly political BS.
Re Trump: First you have to realize Trump is a New Yorker. There was a very old sketch (Mel Brooks?) about two Jews arguing. They are yelling and screaming at each other. You are killing me. My mother is dying. I'll have to sell my children, my wife will leave me, etc. At the end they shake hands, agree and go out to dinner together. Trump is from that milieu. It's deal making as a performance art piece.
I agree with you, but at his age he's not going to change.
As for the Fed. Well beats me. One argument is that if they lower the interest rate inflation will come back so Powell is helping Trump. On the other hand the argument is that he's anti-Trump and he's hoping this will hurt him. On the other other hand it's the uncertainty of the tariffs. They are up, then down, then up again then down again And the Fed like most financial markets doesn't like uncertainty. On the other other other hand it looks like the job market might be softening. Understand LV's job market isn't doing well, and some others aren't. Probably also an other, other, other, other hand argument out there somewhere. As I said. Beat me. So far he's been more right than wrong. And that counts.
LVs job market is perpetually not doing well. Why? It's transient. Hotel and casino workers. Not exactly a hotbed of career employment. The other reason is the corporate cowboys are strangling patrons. Every time you turn around there is a fee instead of a complimentary drink.
As yes the fee thing. I used to go to Vegas a lot for meetings and an occasional convention. The room rates were OK but the fee's were something else and never ending. Fee for pool use, even if you didn't use the pool, Wifi fee even if you didn't use the wifi, fee to check into your room early. If I was traveling on the companies dime we would usually stay off the strip at a none gambling motel. The company arranged it. If you wanted to go to the strip you were basically on your own as far as transportation. And yes the bean counters are the bane of every organization. See Boeing as a good example.
Is there some median to the transient issue? It would seem the hotels would need a fairly constant work force in terms of numbers of people. Maybe not the same people in the same job for years but a constant number people to do the jobs? If half the maids at the same time any hotel would be in trouble.
The people at the Fed collect and analyze lots of data but there are two problems: 1) garbage in; 2) garbage out. They are keeping rates high for two reasons: 1) less lending to keep the economy from growing; 2) subsidy to Europe, which has shot their economy in the head through green energy policies. Also, finger in Trump’s eye since they have TDS.
Ever since I listened to Richard Werner with Tucka I am absolutely convinced the Fed should be abolished; they are always out of step with the market and controlled by oligarchs, mainly by the Bank of International Settlements.
Trump is trying to end the Marshall Plan and the Fed is part of it.
Tariffs are a choice for foreigners - either eat the cost increase or raise your market price passing it through. Folks are eating them like we have since 1913.
Historically the FED has almost always been behind the curve and as of today, they are no exception. The ultimate irony in all of this is by the time they finally cut, it will probably not be justified, because the economy will be strengthened. You're asking people who are notoriously poor at looking four and five moves ahead to try to do exactly that and for years they have failed miserably. Rates should have been cut quite a while ago.
Instead of choosing an academic for the next nominee for Fed Governor, nominate somebody with some real life common sense and sensibility who has traded interest rate and equity derivatives instruments for a living, thus is more likely to be more grounded in reality. Some people may find that to be a rather humorous statement, given some of the people we worked with on the exchange floors LOL but how much worse can they do? 🤣
I'm going to channel my inner Ron Paul here but the Fed shouldn't be controlling interest rates in the first place. Leave it to the free market.
Money is a commodity and interest rates are the same as any other commodity price. They contain information about the relative scarcity of resources.
Of course the Fed is politicized. What did anyone expect would happen when the free market was replaced with letting powerful people direct the flow of trillions of dollars?
how does that work exactly?
About your last paragraph: where it concerns the ‘Durham Annex,’ I will say two things:
1) Chicago Democrat Barack Obama; and,
2) Cook County Democrat Hillary Clinton.
“Your honor, I submit two pieces of evidence to the Court:
“1) Chicago Democrat Barack Obama; and,
“2) Cook County Democrat Hillary Clinton.
“Your honor, I rest my case.”
Powell is a lawyer. He acts like a lawyer (risk averse) and I question his understanding of markets and money, not to mention economics.
It is past time for at least a 25 b.p. cut
As for Obama, Hilary, Brennan, Comey, Clapper and the rest of their corrupt gang, if one was reading the fine print, even in 2017-2019, it was clear that this was an op and a criminally constructed conspiracy. As per Strozk/Page texts, it was the "back up plan" to keep their grift going. Thanks be to God that in Trump's second term many of these money ops have been exposed and stopped. Why else would the Dem party be so broke?
You have friends in the know, but to a nobody like me, clearly, Powell is a political hack who's next gig is a primetime slot on MSNBC.
"...People need to go to jail. But, the people who smoke Hopium and people with Trump Derangement Syndrome won’t look at data."
Nope, they won't, and the rotten Democrats behind the soft coup seem to be exempt from going to jail. I agree with Fishback BTW; Powell isn't doing anyone any favors with his overtly political BS.
Re Trump: First you have to realize Trump is a New Yorker. There was a very old sketch (Mel Brooks?) about two Jews arguing. They are yelling and screaming at each other. You are killing me. My mother is dying. I'll have to sell my children, my wife will leave me, etc. At the end they shake hands, agree and go out to dinner together. Trump is from that milieu. It's deal making as a performance art piece.
I agree with you, but at his age he's not going to change.
As for the Fed. Well beats me. One argument is that if they lower the interest rate inflation will come back so Powell is helping Trump. On the other hand the argument is that he's anti-Trump and he's hoping this will hurt him. On the other other hand it's the uncertainty of the tariffs. They are up, then down, then up again then down again And the Fed like most financial markets doesn't like uncertainty. On the other other other hand it looks like the job market might be softening. Understand LV's job market isn't doing well, and some others aren't. Probably also an other, other, other, other hand argument out there somewhere. As I said. Beat me. So far he's been more right than wrong. And that counts.
LVs job market is perpetually not doing well. Why? It's transient. Hotel and casino workers. Not exactly a hotbed of career employment. The other reason is the corporate cowboys are strangling patrons. Every time you turn around there is a fee instead of a complimentary drink.
As yes the fee thing. I used to go to Vegas a lot for meetings and an occasional convention. The room rates were OK but the fee's were something else and never ending. Fee for pool use, even if you didn't use the pool, Wifi fee even if you didn't use the wifi, fee to check into your room early. If I was traveling on the companies dime we would usually stay off the strip at a none gambling motel. The company arranged it. If you wanted to go to the strip you were basically on your own as far as transportation. And yes the bean counters are the bane of every organization. See Boeing as a good example.
Is there some median to the transient issue? It would seem the hotels would need a fairly constant work force in terms of numbers of people. Maybe not the same people in the same job for years but a constant number people to do the jobs? If half the maids at the same time any hotel would be in trouble.
The people at the Fed collect and analyze lots of data but there are two problems: 1) garbage in; 2) garbage out. They are keeping rates high for two reasons: 1) less lending to keep the economy from growing; 2) subsidy to Europe, which has shot their economy in the head through green energy policies. Also, finger in Trump’s eye since they have TDS.
Ever since I listened to Richard Werner with Tucka I am absolutely convinced the Fed should be abolished; they are always out of step with the market and controlled by oligarchs, mainly by the Bank of International Settlements.
Trump is trying to end the Marshall Plan and the Fed is part of it.
Tariffs are a choice for foreigners - either eat the cost increase or raise your market price passing it through. Folks are eating them like we have since 1913.
Historically the FED has almost always been behind the curve and as of today, they are no exception. The ultimate irony in all of this is by the time they finally cut, it will probably not be justified, because the economy will be strengthened. You're asking people who are notoriously poor at looking four and five moves ahead to try to do exactly that and for years they have failed miserably. Rates should have been cut quite a while ago.
Instead of choosing an academic for the next nominee for Fed Governor, nominate somebody with some real life common sense and sensibility who has traded interest rate and equity derivatives instruments for a living, thus is more likely to be more grounded in reality. Some people may find that to be a rather humorous statement, given some of the people we worked with on the exchange floors LOL but how much worse can they do? 🤣