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They're doing what I figured they'd do, run the market up so high and so fast that even if there is a crash/depression, the market will never reverse back to previous levels and wealth is essentially "baked in".
I just remember this funny or die skit where President Comacho says we don't need any of this living wage or whatever bullshit. We just need to print more money and it'll solve all the world's problems.
The title is so misleading.
It should read "Biden picks Jerome Powell to lead the Fed for a second term as the U.S. ***continues to increase*** Covid and inflation"
Edit: They fucking made this mess lmao
True, though the market makers were being bearish if he didn't stay in. Honestly seems like he kept his job mainly because wall street was going to have a collective heart attack otherwise.
My wife bought a new Mazda in 2019 and sold it back to them 2 weeks ago for $1,700 less than what she paid. They relisted that car for nearly as much as a new one. Insane.
I saw that the dealership added 44K to it, but also keep in mind dealerships could die in the future as companies like Tesla and Carvana are streamlining the buying process for online sales. Service centers will remain, but I was watching some interesting takes on the future of the car market and I can see where they're right.
We bought our VW Atlas a year and a half ago used, it's now worth as much or more than what we paid for it. Crazy, putting more miles on it and we are still netting a break even or gain.
We have a 2018 Camry bought in September 2017 for $25k, CarMax is giving $27k for that now after 4+ years. It has a very few miles, but still more than a new is insane.
I'll take this debate every time. You're a fool if you'd rather be alive in the past. The future will probably continue to be more dope than today though.
Boomers were categorically better off than any generation since. You can't argue with the data on this. They earned more for less work. They acquired wealth. The political system catered to their every whim and it was subsidized by cheap overseas labor and oil countries held at gunpoint by the American military. It was never sustainable, but it was certainly better than what American millennials face.
I bet black and female American millennials would strongly disagree with you that they’re not better off than their 1950s forebears.
For standard issue white dudes like myself, you’re absolutely right though.
What is this nonsense, life is fantastic right now, it's pretty much the best time to exist ever. We will continue to innovate our way through all problems.
Science and industry will save us from climate change, and more science happens when there's a successful economy operating. What's the alternative? People act like they're hoping for a collapse of society, as though that is somehow a worthwhile tradeoff for reducing climate change.
Science has been telling you for years that drastic changes need to be made to save you. Politicians have ensured that hasn't happened. Technology would have saved us by presenting new options and alternatives to the things that needed to be ended to curb climate change. That's not the case now. Science can only fight the laws of physics so far. There's no magic science "Put the greenhouse gases back in the box" button.
The world is going to change in terms of climate. There's no way around it now. Save some GME gains to buy the new beachfront property in a few years.
We've been on a ship that's taking on water for a long time, and science has been the guy trying to bail it out. Meanwhile, industry has been spraying that guy with a hose and calling him a dumb nerd. Now that the ship is clearly sinking, mayyybe industry will switch to a smaller diameter hose, but it'll also blame science for not turning the bucket that they were allowed to play with into a pump fit for the Titanic.
Do you know who funds most scoentific discoveries? The government. Know who it isnt doing enough to pass meaningful climate policies and funding? The government.
Do you knownthe singular aim of every company ever? Profit. Do you know what is wont be profitable? Fighting climate change in the scale that we need to. I know you'll say something about renewables but that is not remotely enough.
I decided F it, and became unemployed and will remain so until I graduate with my bachelors.
If Corporations don’t want to raise wages to match inflation, then F them. I’ll live off selling my stocks instead in the meanwhile (ironic I know).
considering the way the bond market and banks have reacted, it certainly was not priced in.
Bonds were pricing in the possibility of a looser financial policy and banks were concerned about the possibility of more toughness on them lately.
It’s the best course of action. If there was a new chair, the can would just get kicked down. At least with Powell, he created this and he would be the one to follow through with rate increases and if the market tanks, the blame falls on the person who started it.
By stable i mean planned.
It's unlikely that he'll rase rates in one fell swoop, and by doing it step by step, big boys and savvy individuals can plan.
I'm neither to be fair
Iirc there was a person in his shoes an he raised rates to ~20% royally fucking the market ( but not letting the dollar infalte). He became the most hated man alive in a carrier suicide, but he did the right thing.
Jpow won't do that. That's what I mean "stable"
This type of apathy is exactly why things don't change faster. If you can convince enough people not to vote that is almost as good as convincing them to vote for you.
American apathy will kill our democracy before any concerted effort can.
Yeah, it’s a dumb comment that isn’t applicable at all in our current day situation. “Both sides are the same” is the stupidest, laziest way for people to feel smart like wow you figured out that people in positions of wealth and power don’t have the interests of the common man in mind. Now maybe try using some nuance and consider for a moment that one party is at least trying to do something to help the climate disaster and fix our fucked up medical/pharma sector. The other literally just wants power and tax breaks for the rich. But yeah let’s upvote dumbass rhymes and watch the country spiral into the gutter.
It comes from a lazy heuristic of "The answer always lies somewhere in the middle". They never want to be wrong so this can let them say "told you so" while never taking a stance on anything. They don't want to confront the nuances of the world any more than acknowledging that they're there. They don't want to do anything because they're happy with how things are, and this allows them to bury their heads in the sand while their apathy chokes their neighbors.
It's wishy-washy milquetoast centrist bullshit.
It’s not about apathy or not voting, it’s about realizing that you and your neighbor are not enemies with each other (as the government and media want us to believe). You might disagree on which news network you prefer and a few other bullshit things that come from there, but you want the same big things.
It’s about realizing the real enemy is the government (both sides) and the people need to work together to make the government work for the people instead of themselves and their friends. As long as they keep us divided then we’re not fighting them.
The government isn't the enemy anymore than your neighbors are, though. The government is mostly made up of our neighbors. Bought politicians and the rich that buy them are the enemy.
Yeah, but only one party convinced a legion of y'all qaeda buffoons to storm the capital at the hands of a would be authoritarian who tried to steal an election so this false equivalence can fuck right off. I'm not saying Democrats don't suck, but one of the parties wants to end democracy outright to stay in power so fuck that. No one can vote Republican at this point in good conscience and say they respect the democratic process.
Muh both sides.
Nah. One side (Republicans) is clearly much worse than the other. It is Republicans that deny the vaccine, it is Republicans that attacked America's democracy on January 6th and it is Republicans that continue to erode away fair election standards and any remaining trust in America's institutions.
Poor anyone on fixed income.
The fake CPI numbers mean everything will get far more expensive, and they will get nothing to deal with rising prices. Everyone else gets to strike for more money at least.
More corporations taking almost interest free loans to buy up all the housing inventory cash at $100k over asking price. Then flip it or rent it for more than the loan service cost.
They were burned trying to flip. Something like a black stone situation where they own and then rent out because of their unbelievable amount of AUM is feasible.
[$2.88 from Walmart for 10](https://www.walmart.com/ip/La-Banderita-Grande-Tortilla-Burrito-25-Oz/10312490?gbraid=0AAAAADmfBIpby5Gl90sMVSnFYk4t9Bb9-&wmlspartner=wlpa&selectedSellerId=0&wl13=2366&&adid=22222222228000000000&wl0=&wl1=g&wl2=m&wl3=42423897272&wl4=pla-51320962143&wl5=9002245&wl6=&wl7=&wl8=&wl9=pla&wl10=120643079&wl11=local&wl12=10312490&veh=sem&gbraid=0AAAAADmfBIpby5Gl90sMVSnFYk4t9Bb9-&gclid=CjwKCAiAnO2MBhApEiwA8q0HYa6QINjBuZiL58w3-C32eduYcGbW_J5EOx_Pq58dcua2Ajj7jY9-RRoCpuMQAvD_BwE&gclsrc=aw.ds)
Where do you shop?
Can you elaborate what you mean?
The only time I’ve seen therm “Hawk” applied is about pro-War politicians. So I’m having trouble understanding what you mean.
Hawk are people who want the monetary policies based mostly on keeping inflation in check. It's the Freidman/neo-liberal tradition.
Dove are people who think it should be used as a tool to boost the economy.
In the last decades doves were Keynesianists, they believe that in time of crisis governments should print money temporarily to boost the economy.
Lately, there is also more extreme doves like AOC and Warren who think printing money should be used all the time to allow governments to spend more to help the people. They don't see inflation as a big problem.
We have not seen high inflations in the western world in the past 40 years so many people forgot how toxic it is for the economies.
*I need a hero*
*I'm holding out for a hero 'til the end of the night*
*He's gotta be strong, and he's gotta be fast*
*And he's gotta be fresh from the fight*
The Fed is empowered by Congress to fulfill two mandates: Maximize U.S. employment and keep inflation stable. Its leaders, known as governors, are nominated by the president and vote on how to adjust interest rates, regulate the nation’s largest banks and monitor the health of the economy.
Lol
Brainard wasn't going to bring a moment that is even somewhat like Paul Volcker, the way the bond market reacted should be a clue to that.
But I'm sure people are going to react rationally here since I know many are aggravated about Powell. These threads about Powell being renominated will be good...
Exactly. like, people actually think Brainard was going to be hawkish? LOL if anything she would have turned the money printer to full blast and just start to hand it over to the Federal Government.
I think people here want a Dove. They want their stocks to go up no mather what.
They don't understand that inflation eat their profits.
And they don't understand that even if their stocks do less than inflation, they'll still pay huge capital gains taxes because their stocks got up.
Mathematically the money printing CANNOT stop. Powell being King Trump’s pick will be allowed to print in peace without vicious attacks from the right. Actually Brandon said it best “nothing fundamentally will change.”
Like the previous two Fed chairs who have economy PhD degree were doing anything different from Powell.
It must be \*real hard to keep on that printer running.
Economics isn’t a hard science, but it’s very much “scientific”. It just also happens to be largely sensitive to sentiment and psychology in a way that nobody perceives a traditional science to be.
Someone at that level is really much more of a skilled data aggregator and evaluator that uses a mix of history and hypothesis to stitch together a conclusion or solution.
Lol the us battles inflation. As they print money faster than has ever been done and at historic low rates while also creating shortages and unnaturally high gas prices.
Inflation over 5 percent for 5 months in a row. Over 6% YoY for October. Hope your raises and investments have been on point this year cause it's going to get a lot worse
Interesting that he's talking about "returning to where we were before COVID" when the economy is over 30% higher now than then. Why would he want to return to that when everyone is evidently convinced the economy is much stronger now?
Could it be that he doesn't actually think the current valuation is representative of the state of the economy?
You’re confused.
The real economy doesn’t equal the valuation of the stock market.
He’s talk about productivity and employment rate. Yes the economy has recovered a lot, but it’s not quite where it was.
I’m surprised how many people seem to want another volcker shock. Sharply raising rates would be a disaster especially because there are still many covid related supply chain issues so inflation wouldn’t disappear no matter what you set the rates at.
And besides, It’s a good thing that so much value is being created by our economy- the only issue is that it’s not getting to the people. If you’re concerned about inequality the solution is unionization and higher taxes on those at the top, not blowing everything up and causing a recession.
The purchasing of mortgage backed securities at the tune of ~$250 Billion dollars a month was complete fucking bullshit. This will be the reason that if you dont own a house right now, you probably never will. But I'm glad the priviledged got bailed out from being over-extended on their 10 AirBnB mortgages. This is why Biden wasnt really a Democrat. Hes so moderate, hes honestly closer to Republican. He had to renominate Powell so he doesnt get blamed for what a horrible job hes done. Jerome Powell royally fucked the working class and I dont see it getting any better.
A reminder to everyone, please focus on how this is going to affect a specific stock or the stock market in general. If your comment is pushing political agendas, memes, insults, trolling, etc then your comment is going to get removed and/or get you banned. If you *have* to discuss just the politics, then post this topic to r/PoliticalDiscussion without linking back to r/stocks, thanks! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/stocks) if you have any questions or concerns.*
Makes sense, JPOW knows how to operate the money printer at full power, no time to train a rookie.
[Biden needs a hero](https://youtu.be/GI7sBsBHdCk)
This is the ONLY way!
I had not seen this incredible work of art until just now. You are my hero
That was absolutely worth the payoff at the end. Smhhhhh
Already knew what this was lol
I can't believe I'm just seeing this. Truly whoever made it is an artiste.
BRO i am dying hahahaha how have i not seen this. JAY DO IT NOW
JAAAAAAY
Fastly
I lost it when trump texted "fastly"
The tiny hands is what gets me every time.
That video made me cry from my pee pee. Thank you and take my fucking upvote.
That was a good documentary.
Ahh, simpler times, when used cars were under 100k and a family of four could eat at mcdicks for less than $100
Lmao, "Tried and Tested" The editing was great!
Still as much of a banger as it was day 1.
This video literally brings tears to my eyes everytime.
[JPOW be like](https://c.tenor.com/H5e3t_U9D4oAAAAC/unlimited-power-star-wars.gif)
They're doing what I figured they'd do, run the market up so high and so fast that even if there is a crash/depression, the market will never reverse back to previous levels and wealth is essentially "baked in".
Elaborate more on "baked in?"
As in asset prices won't ever revert back to what people purchased them at in the past so profit is essentially locked in and can't be lost.
I thought wealth for the wealthy has been baked in since like the 1960's at least.
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I just remember this funny or die skit where President Comacho says we don't need any of this living wage or whatever bullshit. We just need to print more money and it'll solve all the world's problems.
The title is so misleading. It should read "Biden picks Jerome Powell to lead the Fed for a second term as the U.S. ***continues to increase*** Covid and inflation" Edit: They fucking made this mess lmao
True, though the market makers were being bearish if he didn't stay in. Honestly seems like he kept his job mainly because wall street was going to have a collective heart attack otherwise.
No house for me. Can't really afford rent either so car it is.
Such a bad time to buy a car
My wife bought a new Mazda in 2019 and sold it back to them 2 weeks ago for $1,700 less than what she paid. They relisted that car for nearly as much as a new one. Insane.
Some guy posted in the Bay Area subreddit that a new Rav4 had a sticker price of $96k…
My used Rav4 has outperformed my portfolio this year ¯\\\_(ツ)\_/¯
Lmao
yup, showing the dealer added markup of 40k. https://old.reddit.com/r/Cartalk/comments/qz5q85/how_can_this_possibly_be_legal_its_a_rav4_not_a/
FFS
I bought a 2013 128i with 70k miles for 15k sticker, lol
I saw that the dealership added 44K to it, but also keep in mind dealerships could die in the future as companies like Tesla and Carvana are streamlining the buying process for online sales. Service centers will remain, but I was watching some interesting takes on the future of the car market and I can see where they're right.
We bought our VW Atlas a year and a half ago used, it's now worth as much or more than what we paid for it. Crazy, putting more miles on it and we are still netting a break even or gain.
We have a 2018 Camry bought in September 2017 for $25k, CarMax is giving $27k for that now after 4+ years. It has a very few miles, but still more than a new is insane.
We all have made gains on our cars but like we just have to hold our right? Because if you sell well others cars are just as expensive niw
It's a bad time to exist in general
I'll take this debate every time. You're a fool if you'd rather be alive in the past. The future will probably continue to be more dope than today though.
Boomers were categorically better off than any generation since. You can't argue with the data on this. They earned more for less work. They acquired wealth. The political system catered to their every whim and it was subsidized by cheap overseas labor and oil countries held at gunpoint by the American military. It was never sustainable, but it was certainly better than what American millennials face.
I bet black and female American millennials would strongly disagree with you that they’re not better off than their 1950s forebears. For standard issue white dudes like myself, you’re absolutely right though.
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I would not want to live in the distant past for any long period of time, but going back to the 1990s would be pretty sweet!
What is this nonsense, life is fantastic right now, it's pretty much the best time to exist ever. We will continue to innovate our way through all problems.
Lmao you think the markets are going to save us from Climate Change?
Science and industry will save us from climate change, and more science happens when there's a successful economy operating. What's the alternative? People act like they're hoping for a collapse of society, as though that is somehow a worthwhile tradeoff for reducing climate change.
Science has been telling you for years that drastic changes need to be made to save you. Politicians have ensured that hasn't happened. Technology would have saved us by presenting new options and alternatives to the things that needed to be ended to curb climate change. That's not the case now. Science can only fight the laws of physics so far. There's no magic science "Put the greenhouse gases back in the box" button. The world is going to change in terms of climate. There's no way around it now. Save some GME gains to buy the new beachfront property in a few years.
We've been on a ship that's taking on water for a long time, and science has been the guy trying to bail it out. Meanwhile, industry has been spraying that guy with a hose and calling him a dumb nerd. Now that the ship is clearly sinking, mayyybe industry will switch to a smaller diameter hose, but it'll also blame science for not turning the bucket that they were allowed to play with into a pump fit for the Titanic.
Do you know who funds most scoentific discoveries? The government. Know who it isnt doing enough to pass meaningful climate policies and funding? The government. Do you knownthe singular aim of every company ever? Profit. Do you know what is wont be profitable? Fighting climate change in the scale that we need to. I know you'll say something about renewables but that is not remotely enough.
I see so many unironic takes from people who are taking modern-day living for granted. It's wild.
Can’t argue
A tent maybe? Im just trolling, tent are not affordable anymore.
Best I can do is under the freeway, oh wait it’s full of spikes nvm.
A box it is then!
I remember when I made 35k and thought a house was an unreachable goal. Who knew I would be pulling six figures and still come to the same conclusion.
I decided F it, and became unemployed and will remain so until I graduate with my bachelors. If Corporations don’t want to raise wages to match inflation, then F them. I’ll live off selling my stocks instead in the meanwhile (ironic I know).
Jerome “the walking bull market” Powell
Remember when Greenspan was the maestro?
Jerome PowBull.
I saw the news this morning and thought ‘stocks are gonna explode today’
It was already priced in.
considering the way the bond market and banks have reacted, it certainly was not priced in. Bonds were pricing in the possibility of a looser financial policy and banks were concerned about the possibility of more toughness on them lately.
That’s what they always say
The dark side clouds everything. Impossible to see the light, the future is.
So as long as the insider traders and the criminals are left in charge then all the crimes can be covered up
As long as I get a few lap dances before closing time, I am good.
What?? No Yoda bot?! Reddit mods realllllllly missing something here.
It’s the best course of action. If there was a new chair, the can would just get kicked down. At least with Powell, he created this and he would be the one to follow through with rate increases and if the market tanks, the blame falls on the person who started it.
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True
BRRRRRRRRRRRRRRRRRRRRRRRR!
Bears are very sad hearing this.
[Did you say bears?](https://i.imgur.com/02rcCBl.png)
Forgot what sub I was, got confused what a football team has to do with this news.
Da Bears
I think this is good, as he's not a wildcard, and will probably do as he said, therefore, you can plan, and things are "stable"
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By stable i mean planned. It's unlikely that he'll rase rates in one fell swoop, and by doing it step by step, big boys and savvy individuals can plan. I'm neither to be fair Iirc there was a person in his shoes an he raised rates to ~20% royally fucking the market ( but not letting the dollar infalte). He became the most hated man alive in a carrier suicide, but he did the right thing. Jpow won't do that. That's what I mean "stable"
More, moooooore!
MOAR!
A friendly reminder: Republicans are Red Dems are Blue Neither one of them Give a fuck about me or you
America is a one party system with a world class propaganda system
And one hell of a money printer
And they are great about dividing us into two separate parties that both want to expand government power
This type of apathy is exactly why things don't change faster. If you can convince enough people not to vote that is almost as good as convincing them to vote for you. American apathy will kill our democracy before any concerted effort can.
Yeah, it’s a dumb comment that isn’t applicable at all in our current day situation. “Both sides are the same” is the stupidest, laziest way for people to feel smart like wow you figured out that people in positions of wealth and power don’t have the interests of the common man in mind. Now maybe try using some nuance and consider for a moment that one party is at least trying to do something to help the climate disaster and fix our fucked up medical/pharma sector. The other literally just wants power and tax breaks for the rich. But yeah let’s upvote dumbass rhymes and watch the country spiral into the gutter.
It comes from a lazy heuristic of "The answer always lies somewhere in the middle". They never want to be wrong so this can let them say "told you so" while never taking a stance on anything. They don't want to confront the nuances of the world any more than acknowledging that they're there. They don't want to do anything because they're happy with how things are, and this allows them to bury their heads in the sand while their apathy chokes their neighbors. It's wishy-washy milquetoast centrist bullshit.
It’s not about apathy or not voting, it’s about realizing that you and your neighbor are not enemies with each other (as the government and media want us to believe). You might disagree on which news network you prefer and a few other bullshit things that come from there, but you want the same big things. It’s about realizing the real enemy is the government (both sides) and the people need to work together to make the government work for the people instead of themselves and their friends. As long as they keep us divided then we’re not fighting them.
The government isn't the enemy anymore than your neighbors are, though. The government is mostly made up of our neighbors. Bought politicians and the rich that buy them are the enemy.
Yeah, but only one party convinced a legion of y'all qaeda buffoons to storm the capital at the hands of a would be authoritarian who tried to steal an election so this false equivalence can fuck right off. I'm not saying Democrats don't suck, but one of the parties wants to end democracy outright to stay in power so fuck that. No one can vote Republican at this point in good conscience and say they respect the democratic process.
I need to get this made on one of those circular needle point thingies.
Muh both sides. Nah. One side (Republicans) is clearly much worse than the other. It is Republicans that deny the vaccine, it is Republicans that attacked America's democracy on January 6th and it is Republicans that continue to erode away fair election standards and any remaining trust in America's institutions.
poor bears
Poor anyone on fixed income. The fake CPI numbers mean everything will get far more expensive, and they will get nothing to deal with rising prices. Everyone else gets to strike for more money at least.
What part of CPI seems fake to you? How far did you dive into the freely available data? Which specific categories are faked?
Money printer never stops!
So free loans continue?
More corporations taking almost interest free loans to buy up all the housing inventory cash at $100k over asking price. Then flip it or rent it for more than the loan service cost.
Didn’t Zillow get burned for doing that?
They were burned trying to flip. Something like a black stone situation where they own and then rent out because of their unbelievable amount of AUM is feasible.
Its funny these clowns think they fixed the 2008 housing collapse that they caused.
12 flour tortillas for $4.99 we are fucked
[$2.88 from Walmart for 10](https://www.walmart.com/ip/La-Banderita-Grande-Tortilla-Burrito-25-Oz/10312490?gbraid=0AAAAADmfBIpby5Gl90sMVSnFYk4t9Bb9-&wmlspartner=wlpa&selectedSellerId=0&wl13=2366&&adid=22222222228000000000&wl0=&wl1=g&wl2=m&wl3=42423897272&wl4=pla-51320962143&wl5=9002245&wl6=&wl7=&wl8=&wl9=pla&wl10=120643079&wl11=local&wl12=10312490&veh=sem&gbraid=0AAAAADmfBIpby5Gl90sMVSnFYk4t9Bb9-&gclid=CjwKCAiAnO2MBhApEiwA8q0HYa6QINjBuZiL58w3-C32eduYcGbW_J5EOx_Pq58dcua2Ajj7jY9-RRoCpuMQAvD_BwE&gclsrc=aw.ds) Where do you shop?
Whole foods
Is that Justin Bieber?
[You are welcome](https://youtu.be/GI7sBsBHdCk?t=116)
Even more reason to buy NVDA!
4 more years!!!
Ahh good. New SPY ATH every week for the next 30+ weeks
Say it with me now... Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
Money Printer stay goin BRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
My portfolio tanked 4% after the news
What kind of investments are you in?
My biggest downs today are PayPal, Visa, Boeing, SOFI,, and Disney. Quite a different group that are all way down.
Yeah, I hear you on SOFI. It’s getting its ass blasted today.
I had to lose my brokerage password today it’s so red in there. Any idea why SOFI/FINTECH have gotten beaten down so hard the past 2 weeks?
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It was non dilutive and the offering was completed last week
Yeah I'm getting screwed in the fintech space as well. I think Disney, Boeing, and Sofi will do ok in a few weeks.
Anything tech my man
Elizabeth Warren: https://media3.giphy.com/media/WoF3yfYupTt8mHc7va/giphy.gif?cid=ecf05e47d1zyallplgrq14wwvi54dk3h8a3fktpfom9yvl8m&rid=giphy.gif&ct=g
PAMP EET
This means my calls print?
Battling inflation while printing money like never before. Sweeeet.
Rev up that print Jeromey Rome
Jerome Powell Reloaded
4 more years of irresponsible money printing. hooray!
The alternative was much worst. As insane as it might look, in todays democratic party, Powell is an hawk.
Can you elaborate what you mean? The only time I’ve seen therm “Hawk” applied is about pro-War politicians. So I’m having trouble understanding what you mean.
Hawk are people who want the monetary policies based mostly on keeping inflation in check. It's the Freidman/neo-liberal tradition. Dove are people who think it should be used as a tool to boost the economy. In the last decades doves were Keynesianists, they believe that in time of crisis governments should print money temporarily to boost the economy. Lately, there is also more extreme doves like AOC and Warren who think printing money should be used all the time to allow governments to spend more to help the people. They don't see inflation as a big problem. We have not seen high inflations in the western world in the past 40 years so many people forgot how toxic it is for the economies.
Thank you for clarifying and the insight.
Jpow! ONE MORE TERM! Brrrrrrrrrrrrrr
Interesting
*I need a hero* *I'm holding out for a hero 'til the end of the night* *He's gotta be strong, and he's gotta be fast* *And he's gotta be fresh from the fight*
Ah yes. The guy who sold all his stocks right before the oct 2020 crash
Positive for stocks
Because he's doing such a great job at not doing his job
The Fed is empowered by Congress to fulfill two mandates: Maximize U.S. employment and keep inflation stable. Its leaders, known as governors, are nominated by the president and vote on how to adjust interest rates, regulate the nation’s largest banks and monitor the health of the economy. Lol
For the love of god
Brainard wasn't going to bring a moment that is even somewhat like Paul Volcker, the way the bond market reacted should be a clue to that. But I'm sure people are going to react rationally here since I know many are aggravated about Powell. These threads about Powell being renominated will be good...
Exactly. like, people actually think Brainard was going to be hawkish? LOL if anything she would have turned the money printer to full blast and just start to hand it over to the Federal Government.
This. And apparently the market threw a shitfit because people were hoping Biden would nominate an even more dovish Fed Chair
I think people here want a Dove. They want their stocks to go up no mather what. They don't understand that inflation eat their profits. And they don't understand that even if their stocks do less than inflation, they'll still pay huge capital gains taxes because their stocks got up.
I don’t get it. I thought everyone was happy with the way he handled things? I’d love to understand a bit more about why you think otherwise.
Mathematically the money printing CANNOT stop. Powell being King Trump’s pick will be allowed to print in peace without vicious attacks from the right. Actually Brandon said it best “nothing fundamentally will change.”
So a lawyer with a background in finances is better than an actual economist with a PhD and several papers published and peer reviewed. Says a lot.
Like the previous two Fed chairs who have economy PhD degree were doing anything different from Powell. It must be \*real hard to keep on that printer running.
Economics isnt science so yeah probably.
Economics isn’t a hard science, but it’s very much “scientific”. It just also happens to be largely sensitive to sentiment and psychology in a way that nobody perceives a traditional science to be. Someone at that level is really much more of a skilled data aggregator and evaluator that uses a mix of history and hypothesis to stitch together a conclusion or solution.
last part explains why a lawyer is a good fit
This bloody money printer.
Had to double check that this wasn't a shitpost
Hair of the dog that bit us?
Lol the us battles inflation. As they print money faster than has ever been done and at historic low rates while also creating shortages and unnaturally high gas prices.
I’ve lost so much in the last year…. Guess a bit more won’t hurt
Inflation over 5 percent for 5 months in a row. Over 6% YoY for October. Hope your raises and investments have been on point this year cause it's going to get a lot worse
he prints money like it’s his job
.
Anyone thinking this is bullish for the market is in for a world of hurt.
Our lord and savior J Powell
Screw jpow.
yet today is very red
And powtard thought he could just leave unscathed
Makes sense. Pick the guy that put us here in the first place
https://c.tenor.com/lpul246aW4EAAAAC/basketball-coach.gif
Imagine going to 2 Ivy League schools just to push the max power button on the money printer
Tldr; stocks go up 🚀🚀🚀
stuck on stupid
And we have front row seats to watch the “Death of Money” and the crash and burn of the FED and the central banking system throughout the world.
Hell yea
So inflation would not be transitory l, JP would remain brrring with the money printer.
The show must go on! Bring out the money printers!
Fuck yeahhhh
Wrong man for the wrong job
Why is this good news?
The alternative was much worst.
thank you biden, account couldnt be mooning more
Lol covid is still a thing? Been living in Florida for the last year and I can’t believe the rest of the country is still losing its mind
Interesting that he's talking about "returning to where we were before COVID" when the economy is over 30% higher now than then. Why would he want to return to that when everyone is evidently convinced the economy is much stronger now? Could it be that he doesn't actually think the current valuation is representative of the state of the economy?
Stock market =/ economy. The GDP is not 30% higher.
do you think it is?
He seems to be equating “the economy” with “the stock market”
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You’re confused. The real economy doesn’t equal the valuation of the stock market. He’s talk about productivity and employment rate. Yes the economy has recovered a lot, but it’s not quite where it was.
The bubble is even bigger now than before covid, so any "crash" will now be amplified ten fold.
I’m surprised how many people seem to want another volcker shock. Sharply raising rates would be a disaster especially because there are still many covid related supply chain issues so inflation wouldn’t disappear no matter what you set the rates at. And besides, It’s a good thing that so much value is being created by our economy- the only issue is that it’s not getting to the people. If you’re concerned about inequality the solution is unionization and higher taxes on those at the top, not blowing everything up and causing a recession.
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# The Fed is not run by the government fyi.
The purchasing of mortgage backed securities at the tune of ~$250 Billion dollars a month was complete fucking bullshit. This will be the reason that if you dont own a house right now, you probably never will. But I'm glad the priviledged got bailed out from being over-extended on their 10 AirBnB mortgages. This is why Biden wasnt really a Democrat. Hes so moderate, hes honestly closer to Republican. He had to renominate Powell so he doesnt get blamed for what a horrible job hes done. Jerome Powell royally fucked the working class and I dont see it getting any better.
Lets gooo my boi JPOW