Moneymoney

Fri Aug 24, 2018, 11:36 AM

Powell reiterates steady rate hike plan, economic strength

The main takeaways from Federal Reserve Chairman Jerome Powell's closely watched speech today in Jackson Hole, Wyoming were pretty much what Powell has indicated before: the economy is good, and interest rates are going to go up.

On the strength of the economy: "With solid household and business confidence, healthy levels of job creation, rising incomes, and fiscal stimulus arriving, there is good reason to expect that this strong performance will continue."

Between the lines: There was no mention of trade or tariffs in the speech. Why? House tells Axios:
The heightened focus on this speech means that a mention of trade policy could be viewed as too much of a foray into the President’s policy realm. Given that Fed independence is under more pressure than at any time in the past four decades, I think he’s trying to lead by example and stick to his lane.

https://www.axios.com/powell-steady-growth-interest-rates-economy-89bef5a2-698e-4346-924e-788d69ef70b1.html

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Reply Powell reiterates steady rate hike plan, economic strength (Original post)
uncledad Aug 2018 OP
Oldgeezer Aug 2018 #1
uncledad Aug 2018 #2

Response to uncledad (Original post)

Fri Aug 24, 2018, 12:05 PM

1. 2 encouraging things..1) the report is/was as I expected...

2) Axios stuck to the facts...I'm always suspicious of that joint because of Vandehei and Allen

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Response to Oldgeezer (Reply #1)

Fri Aug 24, 2018, 02:30 PM

2. I read it two-three place, the link was convenient.

Interest rates are not that high compared to the 70's thru the 90's.

I think the FED is giving itself some room for a correction.

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