Federal Reserve chair Jerome Powell finally suggested that conditions in the economy “may warrant” a cut to interest rates. He made the comments today from Jackson Hole. “With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance,” Powell said.
Powell has been costing Americans a great deal of money with his policies which always seem to favor Democrats.
He added that “sweeping changes” in policies with taxes, trade, and immigration have resulting in new conditions for the economy. He continued, and said “the balance of risks appear to be shifting” between the Fed’s goals of stable prices as well as full employment in the American economy.
Powell said that the conditions allow “us to proceed carefully as we consider changes to our policy stance.”
As CNBC reported, it was a “tepid” indication of a rate cut.
He also made a point of saying the Fed has to be independent. The Fed shouldn’t even exist. It’s a conglomerate of elite academics who waste money.
His comments mean a very small cut if at all.
Powell is scared for himself. He has sided with the globalists, that want US growth restricted. He uses the same disproven scare tactics. But he faces a legacy as the man who held the US back. One fed member is leaving, another faces a scandal (there could be more members to be exposed) and he is leaving soon. A new… Read more »