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jerome powell is under the gun in the house. grady trimble following on capitol hill. >> first, expect rate cuts, though jay powell cryptic, not saying when. the rest of the voting members are walking a precarious tight rope, where to set rates but it's an election year. at this hearing powell is telling lawmakers on the house financial services committee that data is looking good and the dangers of cutting rates too quickly, would like to see more. with the high points he's making note of that housing services inflation a.k.a. rent is coming down, goods prices are too and he says he feels good about achieving a soft landing. >> no reason to think the us economy is in short-term risk of falling into recession. having said that, there's always a problem, a possibility, meaningful possibility that economy will fall into recession. i don't think that possibilities elevated at the current time. >> reporter: patrick mchenry asked powell how much rate cutting we will see this year. powell's answer is noncommittal as always, depends on
jerome powell is under the gun in the house. grady trimble following on capitol hill. >> first, expect rate cuts, though jay powell cryptic, not saying when. the rest of the voting members are walking a precarious tight rope, where to set rates but it's an election year. at this hearing powell is telling lawmakers on the house financial services committee that data is looking good and the dangers of cutting rates too quickly, would like to see more. with the high points he's making note...
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Mar 20, 2024
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one thing to appreciate about jerome powell. he always telegraphed and really worried about the market. fed chairman are not supposed to be worried about the market. be that as it may, he is. that's why the general consensus among people like fink and others, is that the june rate cut of 25-basis points is baked in. he's not going to -- because the markets will go wickedly shout if that doesn't happen. this is borrowing some mayor yak we out of the blue -- wacky inflation out of the blue numbers and rates are at 3, he's still worried about a recession because there's other numbers that show a slow down. june is baked in. obviously if inflation numbers after june look sticky and look like they're rising, all bets are off on the other two. liz: i say two. i thought larry predicted a possible two cuts. >> yeah, he did but said three so there could be three. be that as it may, the june thing is baked in and gets into the weirdness of jerome powell and again, fed chairs are not supposed to worry about the stock market and worry about
one thing to appreciate about jerome powell. he always telegraphed and really worried about the market. fed chairman are not supposed to be worried about the market. be that as it may, he is. that's why the general consensus among people like fink and others, is that the june rate cut of 25-basis points is baked in. he's not going to -- because the markets will go wickedly shout if that doesn't happen. this is borrowing some mayor yak we out of the blue -- wacky inflation out of the blue...
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Mar 18, 2024
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powell but as he would not want to confirm or nominate again these are three good folks who would be good nominees for the federal reserve that would do the right things when it comes to look at inflation price stability should be the key thing that the federal reserve should look at and only have control over others would be john taylor from the hoover institution with the taylor rule we need rolls in place for the federal reserve not just a discussion of higher inflation throughout the economy somebody's going to put in place what americans can expect and what the federal reserve will do overtime. >> another factor for donald trump the wrath against jerome powell he did think that donald trump did not like he started raising interest rates earlier in the president came on him like a ton of brics but then criticized policy which is unprecedented at the time. does he want a yes man or woman in the office? >> i don't think so, i think the president will tell the federal reserve chairman whatever he wants but he want someone who's going to be out there looking at inflation and what hap
powell but as he would not want to confirm or nominate again these are three good folks who would be good nominees for the federal reserve that would do the right things when it comes to look at inflation price stability should be the key thing that the federal reserve should look at and only have control over others would be john taylor from the hoover institution with the taylor rule we need rolls in place for the federal reserve not just a discussion of higher inflation throughout the...
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Mar 20, 2024
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what everyone is focused on is what jerome powell signals today , and fellow members are plotting today. you see they each add their names and predictions to a chart about the direction of the federal funds rate. the bank overnight lending rate the so-called dot plot you hear so much about. like i said we'll know in about two hours, to edward lawrence at the white house on what we could be in for. edward? reporter: yeah, the dot plot thickens, right? that's what you said, neil. we're going to get the forecast from federal reserve to see exactly where they see three rate cuts this year still, maybe two, but the federal reserve chairman jay powell is feeling e form us political pressure from democrats who want that first rate cut to start. about two dozen house and senate democrats and a letter to powell saying higher rates are squeez ing working people. now, senators elizabeth warren and sheldon went farther than that in another letter to the fed chairman saying interest rates went too far to fast and the potential they may remain high for too long has halted advances in deploying renewa
what everyone is focused on is what jerome powell signals today , and fellow members are plotting today. you see they each add their names and predictions to a chart about the direction of the federal funds rate. the bank overnight lending rate the so-called dot plot you hear so much about. like i said we'll know in about two hours, to edward lawrence at the white house on what we could be in for. edward? reporter: yeah, the dot plot thickens, right? that's what you said, neil. we're going to...
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charles: jerome powell testifying today before congress. my guest is here to read between the lines because let me tell you, there was a lot going on between the lines. look at that face. we'll be right back. ♪. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. ♪ me and my friends ♪ ♪ life is better with the credit gods are on your side. rewards once available to the few are now accessible to the many. credit one bank. get cash back rewards, and live large. when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone
charles: jerome powell testifying today before congress. my guest is here to read between the lines because let me tell you, there was a lot going on between the lines. look at that face. we'll be right back. ♪. (vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to...
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Mar 20, 2024
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that news by jerome powell set the markets flying. s&p 500 and the dow hit all-time highs. the nasdaq finishing up in the green. that was not a record but this was the s&p's 19th record close in 2024 in a row. it is the second straight record close. as expected bond yields fell on on news of pending rate cuts. tech stocks have powered the market rally all year. today was no different. meta, google, amazon, microsoft, google even tesla finishing in the green. they have the most to benefit from rate cuts, that is where the money goes when you cut rates. bank stocks and credit card companies all seeing nice bumps. american express in particular, on the screen there, excuse me, jumped close to 4%. rate cuts could mean more spending from consumers, less defaults and finally chipotle a very tastey dish today on wall street, the company announcing 50 to one stock split. it gained 3 1/2%. the big one to watch tomorrow is reddit. that is going to ipo. it is the first major tech ipo of the year. a lot of investors will be focused on that. larry: very tasty dish, kelly o'grady, very t
that news by jerome powell set the markets flying. s&p 500 and the dow hit all-time highs. the nasdaq finishing up in the green. that was not a record but this was the s&p's 19th record close in 2024 in a row. it is the second straight record close. as expected bond yields fell on on news of pending rate cuts. tech stocks have powered the market rally all year. today was no different. meta, google, amazon, microsoft, google even tesla finishing in the green. they have the most to...
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Mar 15, 2024
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he was basically saying, come on, boys and girls -- >> and,s by the way, when we covered jerome powell in that hearing this week, let's see is, 7 times in his 5-minute opening remarks he insisted that -- and very strongly signaled to this market that the 2% inflation target is not going anywhere. so, i mean, look -- larry: that's good. >> we had this -- larry: he's manning up. he's manning up. he's discovered his big boy pants. >> we'll see. >> robert wolf was on with steve moore if on "america reports" this week and he said, no -- >> should go to 3%. >> time to go with the 3. larry: you see that though, you take $1,000 and run it out 20 years at a 3% inflation, you basically lose almost half of your munch that's no bargain. and i think that's an interesting point. whatever happened to price stability? >> right. first of all, what they want to do is what i call dumbing down the test. larry: yes. >> can't get to 2 so is 3 is the target. i'm comfortable with 2% because you don't want to have deflation, so you've got a little cushion there. because the worst thing is actually deflation. b
he was basically saying, come on, boys and girls -- >> and,s by the way, when we covered jerome powell in that hearing this week, let's see is, 7 times in his 5-minute opening remarks he insisted that -- and very strongly signaled to this market that the 2% inflation target is not going anywhere. so, i mean, look -- larry: that's good. >> we had this -- larry: he's manning up. he's manning up. he's discovered his big boy pants. >> we'll see. >> robert wolf was on with...
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Mar 20, 2024
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what everyone is focused on is what jerome powell signals today , and fellow m
what everyone is focused on is what jerome powell signals today , and fellow m
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neil: jerome powell is not saying anything to rattle investors, the selloff that we had, and particularly platforms on a record high. nvidia has another record high. and terry weisberg. one minute in the market. a big reversal from yesterday. >> the message coming from powell and his testimony, is market friendly. with the fed it is always fed speak, you have to read between the lines. a little good news and a little bit of cautious news. clearly the message is it is positive. some rate cuts are on the table. he's talking about rate cuts towards the summer. that is what the market wants to hear, not hearing anything terribly negative from him. a little bit of a melt going on today. there are a lot of folks, myself included, we are very comfortable buying short-term treasuries. a lot of cash on the sidelines. nothing more bearish. we are wishing we can put that money to work. neil: you call today melt up. that can have different meanings to a lot of people that you don't want to miss that. others are saying be careful. is there danger and catch a ride? nvidia comes to mind? 3. 9%. 9%. $97
neil: jerome powell is not saying anything to rattle investors, the selloff that we had, and particularly platforms on a record high. nvidia has another record high. and terry weisberg. one minute in the market. a big reversal from yesterday. >> the message coming from powell and his testimony, is market friendly. with the fed it is always fed speak, you have to read between the lines. a little good news and a little bit of cautious news. clearly the message is it is positive. some rate...
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Mar 15, 2024
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traders will be listening to fed chair jerome powell's press conference, with any hint of a rate caught timeline. don't hold your breath on it. what else is driving the declines? big tech is another one taking a breather under pressure for rising bond yields. microsoft, amazon, salesforce, cisco, ibm, all those names are lower at this hour. microsoft down 2%. let's look at the creative software player adobe, on the nasdaq and s&p after providing week quarterly revenue guidance. that will always do it, stock down 14% or close to it. adobe taking a bit of a beating today. with today's retreat, the s&p and nasdaq dipped into negative territory. look at the dow, pretty much on the even line, it will be negative for the week and the s&p down slightly. what is going on? let's get straight to the floor show. joining me is jpmorgan asset management chief strategist david kelly. great to see you. as we head into the st. patrick's day weekend, is luck finally running out for the markets? or is this a temporary breather as we went to the fed meeting next week? >> it is a tricky time for markets. t
traders will be listening to fed chair jerome powell's press conference, with any hint of a rate caught timeline. don't hold your breath on it. what else is driving the declines? big tech is another one taking a breather under pressure for rising bond yields. microsoft, amazon, salesforce, cisco, ibm, all those names are lower at this hour. microsoft down 2%. let's look at the creative software player adobe, on the nasdaq and s&p after providing week quarterly revenue guidance. that will...
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Mar 18, 2024
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jerome powell obviously has to go, we had a committee of a number of expert monetary people and people who are in the know about the economy and the fed policy in those three people that we came up with who we think would be ideal choices are people who you have on your show all the time, art laffer the regular economist and trump economist kevin hassett who was the chairman of the council of economic advisors for trump and then kevin warsh who has served at the federal reserve and understands all these policies. stuart: tell me about your new op-ed president joe biden's magical thinking on taxes, the fallout of the taxes. tell me. if biden gets all of the tax increases that he wants, if he gets them all, what will be the impact of the economy and the debt. >> armageddon, i've been doing this for 40 years i started reviewing presidential budget in 1985 that's almost a 40 year period that's almost a presidential budget under the democratic president, republican presidents and i have to tell you this is by far nothing comes close. even under obama to the financial recklessness of this bu
jerome powell obviously has to go, we had a committee of a number of expert monetary people and people who are in the know about the economy and the fed policy in those three people that we came up with who we think would be ideal choices are people who you have on your show all the time, art laffer the regular economist and trump economist kevin hassett who was the chairman of the council of economic advisors for trump and then kevin warsh who has served at the federal reserve and understands...
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Mar 29, 2024
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you are looking at jerome powell, chairman of the federal reserve, markets are closed today, but he's open for pontificating today. let's go to edward lawrence and how this is juxtaposing wrapping up one of the strongest first quarters in the better part of five years. >> reporter: is making a lot of news, the fed chairman saying the fed is not overreacting even though they say better inflation data in the last year and higher inflation data this year at wants to get it right and with the first rate cut they will take their time. >> it support to get this right. with the economy, growth is strong, labor market is strong and inflation is coming down. we can and will be careful with this decision because we can be. >> the inflation is coming in bumpy. inflation went up a little but core inflation without food and energy prices ticked down moving sideways since december. that's the sticky inflation. the report shows people spending more in bringing a little less money reflecting higher prices they are paying, this report, the fed's favored measure of inflation and the cpi report that cam
you are looking at jerome powell, chairman of the federal reserve, markets are closed today, but he's open for pontificating today. let's go to edward lawrence and how this is juxtaposing wrapping up one of the strongest first quarters in the better part of five years. >> reporter: is making a lot of news, the fed chairman saying the fed is not overreacting even though they say better inflation data in the last year and higher inflation data this year at wants to get it right and with the...
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powell is keeping the interest rates where they are. i hear where thomasy is coming from. there's a reduction from last year. i don't know what math is going on here. it's a 3% reduction in discretionary, not counting military. we did a number of good things on the appropriations bill no, where near what we can do if president trump is in office and a republican led senate. i studied it very carefully. it's the most conservative bill we could get through bought shutting down the government. maria: do you think we're going to see a shutdown for the next deadline on march 22nd? >> i don't. you know, it's been going on too long. it also is that we need to move on. we can't just be trying to work around the margins and the edges. we have some big things to do. and we also have -- you know what? it's an election year and the only way we're going to get a course correction is with a new president and with new senate leadership and support to bolster our majority. i mean, that's the state of affairs. one thing you're not going to hear tonight
powell is keeping the interest rates where they are. i hear where thomasy is coming from. there's a reduction from last year. i don't know what math is going on here. it's a 3% reduction in discretionary, not counting military. we did a number of good things on the appropriations bill no, where near what we can do if president trump is in office and a republican led senate. i studied it very carefully. it's the most conservative bill we could get through bought shutting down the government....
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Mar 25, 2024
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powell does. we keep adding fuel to the fire on the legislative side that was the appropriate thing to do, secure the border and no more funding for an fbi building. the fbi is spying on americans for goodness sake. maria: that's exactly right. now we're talking about $34 trillion in debt which we're going to get into shortly. congressman, we'll be watching your work. we appreciate your time this morning. thank you, sir. >> thank you, maria. 35 trillion in may. god bless you. maria: 35 trillion in may. thank you, scott perry. committee for a responsible budget president maya mcginnis joins me come canning up next on the $35 trillion on where the economy stands with all the additional federal spending and all of that debt. you're watching "mornings with maria" live on fox business. stay with us. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can
powell does. we keep adding fuel to the fire on the legislative side that was the appropriate thing to do, secure the border and no more funding for an fbi building. the fbi is spying on americans for goodness sake. maria: that's exactly right. now we're talking about $34 trillion in debt which we're going to get into shortly. congressman, we'll be watching your work. we appreciate your time this morning. thank you, sir. >> thank you, maria. 35 trillion in may. god bless you. maria: 35...
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the biggest and perhaps most positive came from jerome powell pushing back on basel iii capital requirements. i want to bring in erika najarian, powell saying the sort of broad overhaul, you know, it was obviously music to the ears of bankers, right? i mean, it's so weird because banking 01 is the cd that you lend out money -- the idea that you lend out money, you don't sit on it. where it's going to go from here? >> exactly that, charles. what he said about basel iii softening, let's interpret that to main street. essentially, the regulators are saying we're going to have less available capital for small businesses, less available capital for consumers and card. so i think chair powell's actually doing the right thing in terms of making sure the flow of capital is going to not be blocked especially given the cycle in the economy. charles: now, the other big news, new york community bank, you know, had that one session, it was down 40, came back when mnuchin came to the rescue at least temporarily, but it puts the community banks back in focus because the big banks are doing extraordinarily
the biggest and perhaps most positive came from jerome powell pushing back on basel iii capital requirements. i want to bring in erika najarian, powell saying the sort of broad overhaul, you know, it was obviously music to the ears of bankers, right? i mean, it's so weird because banking 01 is the cd that you lend out money -- the idea that you lend out money, you don't sit on it. where it's going to go from here? >> exactly that, charles. what he said about basel iii softening, let's...
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Mar 27, 2024
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. >> well, it surprised me that fed chair, jerome powell, said we'll cut rates three times as the dot plot says. maria: that surprised me too. >> they're talking about how frothy conditions are. you're seeing that with some semiconductor stocks, nvidia, adam, they're so high, trade at such a high premium to where they normally trade at, you've got net worths at the h highest levels in u.s. history, you've got gold up, bitcoin up. .if the fed cuts too early, it will add fuel to the fire. maria: at a time when we're finally seeing activity in the capital markets in terms of ipos here and there, m&a. johnson & johnson in talks to acquire shock wave medical, shock wave has a market value of nearly $12 billion. ups' ceo says that ups is actively looking at m&a opportunities in healthcare. they made a couple acquisitions for boomy and mnx global logistics but the ceo of ups says that both of those acquisitions will, quote, enhance our capabilities, particularly in cold chain. isn't this interesting that you're seeing ups go for healthcare? >> it's interesting to see them diversify. they obv
. >> well, it surprised me that fed chair, jerome powell, said we'll cut rates three times as the dot plot says. maria: that surprised me too. >> they're talking about how frothy conditions are. you're seeing that with some semiconductor stocks, nvidia, adam, they're so high, trade at such a high premium to where they normally trade at, you've got net worths at the h highest levels in u.s. history, you've got gold up, bitcoin up. .if the fed cuts too early, it will add fuel to the...
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david: you wouldn't know this guy because if donald trump is elected in 2026, when jerome powell has to go away a donald trump said he will describe my be the next head of the fed right. john: deadly he would be one of the best of the heads of the fed we've had in a very long time because he has a very good analytical mind and he looks out the data and is able to say, you know this is what is happening in the economy and he does not just stick to a narrative and he actually says, it was the what is happening is on point to adjust the policy based on that. david: one thing that i think it would agree with kevin as he does disagree with thousands eight the only way to get inflation down is by having a recession he justly you have growth and lower inflation at the supply-side ocean right. kevin: right i think you can but again don't forget that the government debt held by the public with a by more than gdp right is that when you have fiscal policy, just putting the vital to the middle of the fed is really nowhere to be able to get to 2 percent so unable of the respecting the road for wa
david: you wouldn't know this guy because if donald trump is elected in 2026, when jerome powell has to go away a donald trump said he will describe my be the next head of the fed right. john: deadly he would be one of the best of the heads of the fed we've had in a very long time because he has a very good analytical mind and he looks out the data and is able to say, you know this is what is happening in the economy and he does not just stick to a narrative and he actually says, it was the...
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Mar 14, 2024
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just two years ago, jerome powell was getting attacked over the transitory inflation schtick. we learned how little we understand about inflation. they do not know what they're doing. that has been the case for 100 years. it will be the case again. charles: what do you make then of this data in the last 24 hours? certainly prices are going higher and feels to me pretty easy, higher prices dissuading consumers. the money they are spending, 70% is on gasoline? >> that's exactly right. consumers are going into debt to try to maintain the lifestyle that they had during covid and beyond that, they are not buying the economy, whatever it looks like on paper in reality, people are in distress. you're seeing this across the board. 401(k) hardship withdrawals, credit card defaults across the board we're seeing consumers are in trouble. meanwhile exactly the data we're seeing is confirming this stagflationary narrative. so we had ppi come out today. they said wholesale prices are going up annualized 7 1/2%. that was 0.6 on the month. that is epic by the way that brings ppi numbers exact
just two years ago, jerome powell was getting attacked over the transitory inflation schtick. we learned how little we understand about inflation. they do not know what they're doing. that has been the case for 100 years. it will be the case again. charles: what do you make then of this data in the last 24 hours? certainly prices are going higher and feels to me pretty easy, higher prices dissuading consumers. the money they are spending, 70% is on gasoline? >> that's exactly right....
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Mar 27, 2024
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i'm breaking down jerome powell and company may be losing control of parts of their dual mandate. we'll go to the man who was alone on no landing platform. jim bianco is on deck and economist extraordinaire michelle gerard. it is turning into a circus. see the new way you can gamble on tech and mag-7. it will blow your mind. we're talking about the spike in pawn shop business. "pawn stars" star rick harrison is here to tell us what he is seeing first-hand. all that and more on "making money." ♪. charles: the dual mandate could be in double trouble, folks. the federal reserve now, remember, they're responsible for full employment and a stable economy. by the way the only central bank in the world with that mandate. powell and company of course embarked on a very aggressive rate hiking mission. they wanted to arrest runaway inflation, inflation we hadn't seen in 40 years even if it meant triggering significant job losses. well large job losses of course would have been necessary to help quell spending. since then the rate of inflation has slowed, the fed shifting back to supportin
i'm breaking down jerome powell and company may be losing control of parts of their dual mandate. we'll go to the man who was alone on no landing platform. jim bianco is on deck and economist extraordinaire michelle gerard. it is turning into a circus. see the new way you can gamble on tech and mag-7. it will blow your mind. we're talking about the spike in pawn shop business. "pawn stars" star rick harrison is here to tell us what he is seeing first-hand. all that and more on...
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Mar 13, 2024
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the fed and jerome powell said it, the treasury said it, the imf said it, the cbo said it. individuals like jamie dimon and you and i everybody knows this but there is absolutely nobody doing anything about it. the fiscal foundation of this country is broken. as you said, you annualize those deficits we're talking about something that would exceed 10% of the gdp. last year in the seven to 8% of gdp range we were already at deficits of gdp more than two times the historic average which never happens when there is growth. so we are sitting in a situation and the "ben hur" reference is perfect where we're rushing toward this is cliff. we just don't know where that end point is. charles: right. >> if we don't get somebody with the fortitude to do something, this is going to impact us in terms of runaway inflation, which we have, we know we've been dealing with or something even worse. charles: you know, the sad thing about it, once you go off the cliff there is no redo button, right? >> right. charles: we can't stop it. i fear we're going to get there. part of this boondoggle,
the fed and jerome powell said it, the treasury said it, the imf said it, the cbo said it. individuals like jamie dimon and you and i everybody knows this but there is absolutely nobody doing anything about it. the fiscal foundation of this country is broken. as you said, you annualize those deficits we're talking about something that would exceed 10% of the gdp. last year in the seven to 8% of gdp range we were already at deficits of gdp more than two times the historic average which never...
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Mar 28, 2024
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charles: so if there was a movie version of this, paul newman would play jerome powell, essentially, "cool hand luke" in all of this. you pointed out some positive themes that are working. i want you to talk to the audience about them. i want to remind folks, newell, you've been spot on. calling well the economy for last couple years. central bank easing, global inflation easing, these are positive tailwinds, right? >> well absolutely, charles, thank you. i mean i think for investors the important thing is, we're talking about at the end of the day, right we're talking about how much is the fed going to cut and how much is the economy going to grow. fundamentally that's a fairly good backdrop for risk appetite, right? you mentioned global activity. if you look at manufacturing, purchasing manager surveys from around the world they're generally moving up and to the right. business confidence is on the mend. you mentioned recession risks, one of the things that will happen as a result of that, is that companies are going to spend more money on plant and equipment. remember that last ye
charles: so if there was a movie version of this, paul newman would play jerome powell, essentially, "cool hand luke" in all of this. you pointed out some positive themes that are working. i want you to talk to the audience about them. i want to remind folks, newell, you've been spot on. calling well the economy for last couple years. central bank easing, global inflation easing, these are positive tailwinds, right? >> well absolutely, charles, thank you. i mean i think for...
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Mar 29, 2024
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the fed chair, jerome powell, says close but no cigar. >> february is lower, but it's not as low as most of the good readings we got in the second half of last year. but it's definitely more along the lines of what we want to see. the economy is strong. we don't need to be in a hurry to cut. it means we can wait and become more confident that, in fact, inflation is coming down to 2%. lauren: it feels like it's taking forever. joining me now, chief economist daniel he chi yea. you recently wrote a piece called easing in the middle of persistent inflation may worsen stagflation risk. daniel, you just heard from jay powell. do you think he might agree? >> well, thank you very much, lauren. i think that's the big mistake that we are seeing, is that the inflation reduction act has become the inflation perpetuating mistake. the decision of the government to massively increase spending and massively increase deficit which is, ultimately, printing money has made inflation worse. i am particularly concerned about the fact of the genuine reading has been revised up. the january reading. and the fe
the fed chair, jerome powell, says close but no cigar. >> february is lower, but it's not as low as most of the good readings we got in the second half of last year. but it's definitely more along the lines of what we want to see. the economy is strong. we don't need to be in a hurry to cut. it means we can wait and become more confident that, in fact, inflation is coming down to 2%. lauren: it feels like it's taking forever. joining me now, chief economist daniel he chi yea. you recently...
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Mar 28, 2024
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federal reserve chair jerome powell is set to speak on monetary policy in the morning. will he counter what a fed governor christopher waller just said at an event titled there's still no rush? plus, argue a write the most important -- arguably the most important data point on inflation will also be released 8:30 a.m. eastern tomorrow. it's the core pce, the fed's preferred measure of inflation. speaking of plain facilitating, as we come to the end of the first quarter, all four majors look to close it out with solid gains. the s&p poised to notch its best start in years. we're back in a second, don't go away. ♪ ♪ everyone's a winner, baby, that's no lie. ♪ you never if fail to satisfy, to satisfy ♪ ♪ hello, mia. are you ready to meet your demise? man, we really need to upgrade your trash talk. ♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in p
federal reserve chair jerome powell is set to speak on monetary policy in the morning. will he counter what a fed governor christopher waller just said at an event titled there's still no rush? plus, argue a write the most important -- arguably the most important data point on inflation will also be released 8:30 a.m. eastern tomorrow. it's the core pce, the fed's preferred measure of inflation. speaking of plain facilitating, as we come to the end of the first quarter, all four majors look to...
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jerome powell is right about 4.4%. the a least the right side of the screen to be on. there is how the fed is judged by its economist peers. there might be more sympathy, even though ben bernanke said economists are bad at predicting the future. ironically, ben bernanke and his colleagues, offered this assessment on the economy. our forecast is for positive, moderate growth going through the next four quarters. economists are extremely bad predicting turning points and we don't pretend to be even better. he says this right here. then comes the great recession, right? employment skyrockets from 4% all the way up to 10%. that puts into perspective all of this talk of a soft landing. perhaps the track record leaving something to be desired there. now one of the hurdles for the fed, this rate tightening cycle has been the jobs market. it has continued to be really tight. yesterday's jobs opening report was flat, largely in line with consensus. job openings, kind of flat here, fell marginally, roughly 26,000. hiring edged lower. notable declines in warehousing, utilities. q
jerome powell is right about 4.4%. the a least the right side of the screen to be on. there is how the fed is judged by its economist peers. there might be more sympathy, even though ben bernanke said economists are bad at predicting the future. ironically, ben bernanke and his colleagues, offered this assessment on the economy. our forecast is for positive, moderate growth going through the next four quarters. economists are extremely bad predicting turning points and we don't pretend to be...
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Mar 12, 2024
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there is no way jerome powell can drop the interest rates. he needed that to drop to be able to save his candidacy, it will not happen. there is no way he can drop interest rates. larry: that's a good point. i think it does box the fed in. biden himself says he expects the fed to drop rates but i think you're right. the other thing, relying on taxes, you know, five trillion dollars tax hike on successful learners, on corporations, on businesses, they're not going to get that money. that is not real deficit reduction. that is just class warfare. they will never see that money. it will never happen. >> it kind of reminds me of the state of the union the other night, larry, when president biden said i cut the deficit a trillion dollars. i don't know where he is getting that from. he is putting burden on the taxpayer around small business. small businesses and our farmers in this country have built this country, not the illegals. we need to stand up for them and quit putting the blame on them and quit putting the burden on them and give taxpayer
there is no way jerome powell can drop the interest rates. he needed that to drop to be able to save his candidacy, it will not happen. there is no way he can drop interest rates. larry: that's a good point. i think it does box the fed in. biden himself says he expects the fed to drop rates but i think you're right. the other thing, relying on taxes, you know, five trillion dollars tax hike on successful learners, on corporations, on businesses, they're not going to get that money. that is not...
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Mar 29, 2024
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and while wall street is off today, jerome powell and myself, we're still on the clock. the federal reserve chair spoke at a san francisco fed conference this morning and gave his reaction to the pce data. >> my first thought was that the throort a came out this morning is pretty much in line with our expectations. so core pce, as you mentioned, is at 2.88% on a 12-month basis, headline at 2.5% that's what a we were expecting, and it's good to see something coming in in line with expectations. kelly: as we close out march and charge full speed ahead into the second quarter with earnings season around the corner, how should investors gear up? if well, let's get right to the floor show. joining me right now is research president tom essay and she e terra investment cio gene goldman. gentlemen, thank you so much, both, for being here. gene, i want to start with you, okay? so i want to get your reaction to the pce data. january was revised up, not the best sign in the world, but you zoom out even further, we're seeing a lot of bumpiness in this fight against flakes. we're al
and while wall street is off today, jerome powell and myself, we're still on the clock. the federal reserve chair spoke at a san francisco fed conference this morning and gave his reaction to the pce data. >> my first thought was that the throort a came out this morning is pretty much in line with our expectations. so core pce, as you mentioned, is at 2.88% on a 12-month basis, headline at 2.5% that's what a we were expecting, and it's good to see something coming in in line with...