The Biden Presidency 2022

October: The Biden Administration Rejected an October Proposal for “Free Rapid Tests for the Holidays”

December: Biden says he wishes he thought about ordering 500 million at-home Covid tests 2 months ago

Fed chairman Powell has handed the Dems their heads over the matter of raising rates. Powell is going to do it to slow inflation, but the Dems are straight out asking him to delay it to avoid badly timed [in their view] economic slowdown.

Powell told them inflation hurts poor people the most and went on about it. Reading between the lines, he pretty much said for once they should be thinking about helping poor people and quit just using them as political footballs.

Oddly, I saw this live but can't find these comments on the internet.

Quote: odiousgambit

Fed chairman Powell has handed the Dems their heads over the matter of raising rates. Powell is going to do it to slow inflation, but the Dems are straight out asking him to delay it to avoid badly timed [in their view] economic slowdown.
.

WTF were you watching
I watched some of it on CNBC
I didn't view his testimony as crushing the economy
He said rising pay is a good thing
Stock market actually went up after Powell was done
The panels were quite at ease with Powell
Economic outlook still looks good for this year
I'm all in on the stock market
I just moved some IRA money from a very conservative account to one a little more aggressive and better tuned to the market
VINIX
Go USA

Inflation up.

Still months away from Fat Lady singing. At some point, I may have to go Terapined route and register as Republican not to save Democrats, but to influence any selection of incoming Republicans.

Quote: odiousgambit

Fed chairman Powell has handed the Dems their heads over the matter of raising rates. Powell is going to do it to slow inflation, but the Dems are straight out asking him to delay it to avoid badly timed [in their view] economic slowdown.

He should first try slowly cutting back on the $120 billion Fed monthly bond purchases that have been lowering the value of the dollar and driving inflation. Money velocity is at its lowest point since the stone age. Raising interest rates will slow it even more, driving down investments and ultimately increasing the interest paid on the Federal deficit.

"Consumer prices rise 0.5% in December and push inflation rate to nearly 40-year high of 7%"

And this is in a stagnant economy.

The inflation rate for Trump’s last year in office, was 1.28%.

The rate of inflation is always higher than the CPI, since the CPI is only a measure of consumer spending behaviors. It does not consider the fact that consumers are forced to switch to cheaper substitutes in order to maintain the same utility.

Even their cost inflation numbers can’t be trusted. According to the BLS, the retail cost of beef increased 20% over the past year. According to the USDA, it increased 33%.

Quote: Tanko

And this is in a stagnant economy.

Yawn
Stock market up today
Come on Tanko
You used to rave about the market when Trump was President
What happened
Against the market now Biden is President
Are you betting on Puts lol

Quote: terapined

Quote: odiousgambit

Fed chairman Powell has handed the Dems their heads over the matter of raising rates. Powell is going to do it to slow inflation, but the Dems are straight out asking him to delay it to avoid badly timed [in their view] economic slowdown.
.

WTF were you watching
I watched some of it on CNBC
I didn't view his testimony as crushing the economy

no, Dems are the ones thinking raising rates might tank it. One Senator flat out asked him if that can't be put off. That's when he gave them the "think of the children" shot [no he didn't actually put it that way]

Quote:

He said rising pay is a good thing
Stock market actually went up after Powell was done
The panels were quite at ease with Powell
Economic outlook still looks good for this year
I'm all in on the stock market
I just moved some IRA money from a very conservative account to one a little more aggressive and better tuned to the market
VINIX
Go USA

Many feel the demand side is so strong a little tightening won't be a bad thing, but will "a little" dampen inflation?

Quote: Tanko

And this is in a stagnant economy.

The inflation rate for Trump’s last year in office, was 1.28%.

The year Covid shut the world down and no one spent anything? Shocking.

And we can all just ignore the “stagnant economy” BS, right? 😂

Quote: odiousgambit

Quote: terapined

Quote: odiousgambit

Fed chairman Powell has handed the Dems their heads over the matter of raising rates. Powell is going to do it to slow inflation, but the Dems are straight out asking him to delay it to avoid badly timed [in their view] economic slowdown.
.

WTF were you watching
I watched some of it on CNBC
I didn't view his testimony as crushing the economy

no, Dems are the ones thinking raising rates might tank it. One Senator flat out asked him if that can't be put off. That's when he gave them the "think of the children" shot [no he didn't actually put it that way]
Many feel the demand side is so strong a little tightening won't be a bad thing, but will "a little" dampen inflation?

The market has spoken
The market is up
Telling
You listen to politicians at a hearing
Meaningless. Its politics. Its a clown show
I listen to the stock market
Meaningful. Its business. Its about my money
I watch CNBC to monitor the pulse of the market
Don't watch politicians regarding the market, their view is positive or negative depending on who is President. Tanko is an excellent example of that