WASHINGTON - U.S. Federal Reserve Chair Jerome Powell on Wednesday pushed back against a favorite talking point of President Donald Trump’s, telling Congress that the negative interest rates sought by Trump aren’t appropriate for a U.S. economy with ongoing growth, a strong labor market and steady inflation.
But the Fed chief did wade into the economics of the negative rates of interest that countries including Switzerland and Germany currently pay on their government bonds. Trump has repeatedly called for Powell’s Fed to cut rates and deliver the same for his government, on Tuesday in New York telling the Fed to “give me some of that money.
He said the impact of three rate cuts this year are still to be fully felt in supporting household and business spending, and will let the central bank likely stop where it is unless there is a “material” change in the economic outlook. “We see the current stance of monetary policy as likely to remain appropriate with our outlook of moderate economic growth, a strong labor market, and inflation near our symmetric 2% objective,” Powell said. “The baseline outlook remains favorable ... My colleagues and I see a sustained expansion of economic activity ... as most likely.”Trump and the 2020 election served as the backdrop to the Fed chief’s appearance before the joint panel of senators and members of the House of Representatives.
Winning forecaster Paul Ashworth, when asked what happens next, said. “We are concerned with fiscal stimulus wearing off.” In other words, unless 'not QE' continues, the whole ponzi scheme comes crashing down
how much bill do you have
The US economic situation is positive, but the working structure of the FED needs fundamental changes.
SOS HongKong
And that’s facts!
Reuters: you're enticing me to make thebigshort with such historical headlines 😂
As the Y and Z generations’ futures are robbed for millionaire and billionaire tax cuts. OkBoomer
🤣😂🤣😂
Inflation, silly. Have you seen the price of average groceries rise? Wages are stagnant while rents and utilities increase.
Debt is ignored by Republican Big Spenders ....until a Democrat comes in office then that debt will be a huge issue....
Trump's FED reference is extremely normal, and the Jewish private interests, the FED, should change in keeping with the world of the 21st century.
Oh boy. business ain't gonna like that.
50% of Americans live paycheck-to-paycheck. Don’t listen to any of this baloney.
Sure there is and it rhymes with DUMP.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNBC - 🏆 12. / 72 Read more »