‘The economy is going to collapse,’ says Wall Street veteran Novogratz. | |
Anon Braveheart
(OP) User ID: 76517917 United States 06/16/2022 01:39 AM Report Abusive Post Report Copyright Violation | Powell: Fed 'not trying to induce a recession' with interest rate hikes “We’re not trying to induce a recession now, let’s be clear about that,” Powell told reporters after the policy-setting Federal Open Market Committee raised short term rates by 0.75%. Powell said the Fed’s goal is to depress the rapid pace of inflation closer to its 2% target, all while preserving a “strong” labor market. Forecasts released by the Fed showed confidence in the central bank’s ability to hit both marks, although economists say the task will be tough. Projections from the Fed published Wednesday showed the median official expects interest rates will rise to 3.4% by year-end, well above the 2.5% level that many Fed officials have described as “restrictive” for economic activity. “[G]oing faster and deeper into restrictive territory implies a greater risk of a hard landing,” ING Economics wrote Wednesday afternoon. A “hard landing” outcome would be the opposite of forecasts from the Fed, and may look like a sharp spike in unemployment as the rapid pace of rate hikes halts economic activity. “There’s a pathway here. It is not going to be easy,” Powell said Wednesday. He added that inflation remains the priority, noting that “clearly, people do not like inflation.” [link to finance.yahoo.com (secure)] Anon Braveheart |
bigD111
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Anon Braveheart
(OP) User ID: 76517917 United States 06/16/2022 01:52 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 83140967 Canada 06/16/2022 02:02 AM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 79904252 United States 06/16/2022 02:36 AM Report Abusive Post Report Copyright Violation | ‘We are going to go into a really fast recession.’ Quoting: Anon Braveheart “Housing is starting to roll over,” he said. “Inventories have exploded.” “There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.” Before the Fed announced its decision, Novogratz speculated — accurately, it turned out — that the central bank would lift interest rates by 75 basis points and that the market would rally on that news. He also predicted that stocks will sell off in the coming days. “They are hiking into the popping of a bubble,” Novogratz said, referencing the soaring price tags on luxury Swiss watches and other assets. So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way. [link to www.marketwatch.com (secure)] don`t have to be an expert or on wallstreet to know that, everyone who is paying $5 a gallon for gas and can`t afford to do it knows the economy is going down the toilet REAL fast. the common people know things before wallstreet does because the common people know what they can and can`t afford before wallstreet does. |
FastEddyTortuga
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CK Dexter Haven
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FastEddyTortuga
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FastEddyTortuga
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FastEddyTortuga
User ID: 80002311 United States 06/16/2022 03:18 AM Report Abusive Post Report Copyright Violation | Housing prices may drop a little, but that will not make them more affordable. Higher interest rates will result in higher payments. They are working the problem from the wrong end. They should be increasing supply and productivity. Starting with oil. They are trying to curb demand by raising interest rates. This may reduce demand and therefore prices on some big ticket items like homes, cars, trucks, but it will make none of those things more affordable. The price may be lower, but the payment will be higher. The cost of necessity goods and services that are already in short supply will probably increase if those businesses need to borrow money to operate. They will pass the added cost of interest into their goods and services, especially if demand remains higher than supply. Forcing a decrease in demand for cars, trucks, and luxury goods and services will hurt some businesses, and may cause layoffs and/or business closures, which will cause further harm to the economy. Increasing interest rates during times of supply shortages looks really stupid. While our government appears to be incompetent, I am starting to think the opposite may be the case. It looks more like they want to completely destroy America in order to rebuild it as something else. |
Theodesus
User ID: 990180 Austria 06/16/2022 03:18 AM Report Abusive Post Report Copyright Violation | ‘We are going to go into a really fast recession.’ Quoting: Anon Braveheart “Housing is starting to roll over,” he said. “Inventories have exploded.” .... So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way. [link to www.marketwatch.com (secure)] Really?! I haven't been aware of this for many many years!!! |
Limpan
User ID: 83641961 Sweden 06/16/2022 03:22 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 83673767 06/16/2022 03:22 AM Report Abusive Post Report Copyright Violation | |
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Anonymous Coward User ID: 83652381 United States 06/16/2022 03:37 AM Report Abusive Post Report Copyright Violation | I love how these economists talk about the oncoming recession, as if to imply that this will be a temporary situation. It is NOT a recession. It is a regression brought about by progressives and their ideological penchant to destroy everything they touch. |
Anonymous Coward User ID: 77741176 Sweden 06/16/2022 03:44 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80236196 United States 06/16/2022 03:48 AM Report Abusive Post Report Copyright Violation | ‘We are going to go into a really fast recession.’ Quoting: Anon Braveheart “Housing is starting to roll over,” he said. “Inventories have exploded.” “There are layoffs in multiple industries, and the Fed is stuck,” he said, with a position of having to “hike [interest rates] until inflation rolls over.” Before the Fed announced its decision, Novogratz speculated — accurately, it turned out — that the central bank would lift interest rates by 75 basis points and that the market would rally on that news. He also predicted that stocks will sell off in the coming days. “They are hiking into the popping of a bubble,” Novogratz said, referencing the soaring price tags on luxury Swiss watches and other assets. So far, the noted investor’s prediction has played out, with the Dow Jones Industrial Average DJIA, +1.00% rising more than 300 points, or 1%, after briefly running its gain to 600 points, after the Fed meeting broke up and a news conference hosted by Chairman Jerome Powell got under way. [link to www.marketwatch.com (secure)] they are going to pull the reset before the next election. trump 2024, never going to happen |
Anonymous Coward User ID: 78259833 United States 06/16/2022 03:48 AM Report Abusive Post Report Copyright Violation | And the "green" shyte started before putin rolled into the Ukraine. The people of the u.s. are generally wasteful. The least educated/new populations litter copiously. People like this won't change their behavior unless forced. These are also the street crime performers, many of whom won't take the clot shot. They know they are unwanted and expendable. All the virtue signaling doesn't change their grasp of reality. We could stop letting so many in. Monied types, do more of your own scut work until the tech exists/is economical. What has happened is the destruction of the productive segments of society. Reality does have a way of undermining all convenient and otherwise idealisms. |
Anonymous Coward User ID: 83671839 Australia 06/16/2022 03:49 AM Report Abusive Post Report Copyright Violation | |
VegasRick
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Anonymous Coward User ID: 82934545 United States 06/16/2022 03:56 AM Report Abusive Post Report Copyright Violation | Housing prices may drop a little, but that will not make them more affordable. Quoting: FastEddyTortuga ..... They are trying to curb demand by raising interest rates. This may reduce demand and therefore prices on some big ticket items like homes, cars, trucks, but it will make none of those things more affordable. The price may be lower, but the payment will be higher. ..... Not everyone lives off of debt. But, yes, I get what you're implying. The economy will suffer. |
Anonymous Coward User ID: 78765019 United States 06/16/2022 04:10 AM Report Abusive Post Report Copyright Violation | Miami shootout guy locked his thread. 'Just a shotgun' WILL SAVE YOU. It's proven to be one of the meanest most formidable weapons ever developed in all simulations, plus real world situations. We're talking about real warfare with full autos. |
Ferinha Neném
User ID: 83648754 Brazil 06/16/2022 04:21 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 80750616 Netherlands 06/16/2022 04:46 AM Report Abusive Post Report Copyright Violation | Powell: Fed 'not trying to induce a recession' with interest rate hikes Quoting: Anon Braveheart “We’re not trying to induce a recession now, let’s be clear about that,” Powell told reporters after the policy-setting Federal Open Market Committee raised short term rates by 0.75%. Powell said the Fed’s goal is to depress the rapid pace of inflation closer to its 2% target, all while preserving a “strong” labor market. Forecasts released by the Fed showed confidence in the central bank’s ability to hit both marks, although economists say the task will be tough. Projections from the Fed published Wednesday showed the median official expects interest rates will rise to 3.4% by year-end, well above the 2.5% level that many Fed officials have described as “restrictive” for economic activity. “[G]oing faster and deeper into restrictive territory implies a greater risk of a hard landing,” ING Economics wrote Wednesday afternoon. A “hard landing” outcome would be the opposite of forecasts from the Fed, and may look like a sharp spike in unemployment as the rapid pace of rate hikes halts economic activity. “There’s a pathway here. It is not going to be easy,” Powell said Wednesday. He added that inflation remains the priority, noting that “clearly, people do not like inflation.” [link to finance.yahoo.com (secure)] How does nobody see the problem?? The Inflation is external, China is passing their Inflation off on the USA Increasing Interest will not affect inflation levels or it will make them worse. |
Anonymous Coward User ID: 80750616 Netherlands 06/16/2022 04:48 AM Report Abusive Post Report Copyright Violation | Miami shootout guy locked his thread. Quoting: Anonymous Coward 78765019 'Just a shotgun' WILL SAVE YOU. It's proven to be one of the meanest most formidable weapons ever developed in all simulations, plus real world situations. We're talking about real warfare with full autos. no its not, not even close I could take your whole leg off at 300 yards with my AR-10 a shotgun wouldnt even hit me |
ReoX
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