Fed's Jerome Powell announces new monetary inflation policy

[Shogon]

https://www.youtube.com/watch?v=D7xw7SPIDqM
https://www.cnbc.com/2020/08/27/powell-announces-new-fed-approach-to-inflation-that-could-keep-rates-lower-for-longer.html


The Federal Reserve announced a major policy shift Thursday, saying that it is willing to allow inflation to run hotter than normal in order to support the labor market and broader economy.

In a move that Chairman Jerome Powell called a “robust updating” of Fed policy, the central bank formally agreed to a policy of “average inflation targeting.” That means it will allow inflation to run “moderately” above the Fed’s 2% goal “for some time” following periods when it has run below that objective.

I haven't watched the whole speech yet but Powell leads off by saying they've been reviewing this for a year and a half. Guess what that means, fellas? That the problems are far bigger than COVID. I... told... you... so.

https://youtu.be/nU2ZFm7U_NI?t=235

Their time.. is almost... up.

[Nanners]

Powell leads off by saying they've been reviewing this for a year and a half. Guess what that means, fellas? That the problems are far bigger than COVID. I... told... you... so.


Imagine if the greedy wall street sociopaths who crashed our economy in 2008 knew that it was going to happen again in 2020... so instead of waiting until the economy collapses naturally, they promoted a fake global pandemic to force an economic crash and divert all blame/attentionfor the collapse away from themselves.

[~primetime~]

yes inflation is coming...for those who own things it will benefit you, your mortgage will suddenly seem much smaller as your home value and your salary inflate...your 401k will grow a great deal...for those who own nothing, you're in trouble as your rent will go up along with the inflation...the gap between the haves and have-nots will widen more

[starface]

yes inflation is coming...for those who own things it will benefit you, your mortgage will suddenly seem much smaller as your home value and your salary inflate...your 401k will grow a great deal...for those who own nothing, you're in trouble as your rent will go up along with the inflation...the gap between the haves and have-nots will widen more


But, but... muh Democrats fought for the little guy with those minimum wage increases!!!

They just had to totally take these corona measures on accident bc it was necessary bc flu virus scary!!!!!!!!!!



:roll:


Nation of suckers...

[falc39]

Fed knows it’s running out of bazookas. Of course, “for some time” probably means a lot longer than what people are expecting as the Fed is hoping people are buying the notion that they have this situation under control, which they clearly don’t.

[BigKobeFan]

When interest rates dip below 3%, inflation always occurs

[AlternativeAcc.]

When interest rates dip below 3%, inflation always occurs



The food index decreased 0.4 percent in July, its first decrease since April
2019. The food at home index fell 1.1 percent in July after increasing 0.7
percent in June. Five of the six major grocery store food group indexes fell in
July. The index for meat, poultry, fish, and eggs decreased 3.8 percent in July.
This decline was led by the index for beef, which fell 8.2 percent in July after
increasing sharply in recent months


Trending more towards deflation.

[Shogon]

Trending more towards deflation.

Oh damn, I didn't realize that housing and cars and actual assets were widespread going down in price. Please, tell me more!

[Shogon]

Don't forget stocks... plummeting, because they're deflating.