Scholarship table
Why are your benchmarks so extreme? Is there no room between "roaring" and "spinning its tires"? Perhaps we have an economy that survived the pandemic recession fairly well comparative to others due to multiple capital infusions but still has fundamental concerns regarding its antiquated structure. Those concerns could be met midway with the further spending providing for a realignment of the labor market as we transition into a different environment ahead.Ensuring the economy doesn't backslide into a recession by investing while at the same time seeing a quarter point here and a quarter point there to stave off inflation seems to be a note on both sides of the argument working in tandem.
If the economy is somewhere in the middle as you suggest (btw it was Yelen not me who characterized it as on the brink of overheating) then let’s have a somewhere in the middle federal response to it with say maybe a $1 trillion infrastructure package and call it a day? Something along those lines I think would pass with unbelievable bipartisan support.
WagsPowell has not gone anywhere.
I wasn't the biggest fan of Bernanke, but my god I miss him. Between Yellen, then Powell, and now Yellen is back in the mix as Sec of Treasury, we're working on 8 years of Fed Reserve Chair influence who, regardless of what their true beliefs or stances are, cannot communicate effectively and thus always appear wishy washy or unsure. I hated Yellen's tenure, but somehow Powell was worse. Dude was always a bumbling dope during any Q&A. Yellen is back with her doublespeak with a vengeance.
LOL, do you remember Greenspan?
Powell has been great, IMO, under both Trump and Biden.
This is entirely unsurprising out of you.Its an incredibly difficult job, nobody is contesting that, but I don't know how he can be deemed "great" unless you're just referring to short term market gains and trying to pump employment. Everyone I know in the financial industry has talked about him being one of the worst communicators for a highly visible financial talking head in their lifetimes and I dont think he can be judged favorably until inflation repercussions of the last 2 years are seen, cause the Fed money printer is churning like nobody has ever seen. Powell is against MMT, but sees no issues with constantly pumping money into the system cause he claims they will be able to "control" inflation
ColemanI agree with 99% of your post. My only issue with the Fed this time around is I think they have fallen asleep at the wheel. I think they should have begun scaling back on asset purchases a couple months ago and sounded the alarm that higher rates were coming later in the year. My confidence level of the Fed/government to be nimble is quite low. My other concern is inflation being higher than 3-4% and lasting longer. They have tried to get inflation to 2% and have failed for a long, long time. I believe a rapid spike higher than 4% is coming and am afraid it is going to last longer than you do.I cannot speak for other folks on here in the business world, but in my line of work folks are spending money like crazy. Not that anyone is happy with higher costs, but not stopping any of our clients from doing their daily business. I have seen booms and busts over my career and this time really feels different to me and that has my concern up.Final thought, I agree they knocked out of the park, but I am bit more cynical on the topic. This is third "event" they have had to navigate over the past twenty years and they learned their lessons. I hate the Fed getting involved, but they did save the day last spring. Now it is time to get the hell out of the way and let us get back to business as usual.
This is entirely unsurprising out of you.
WTF does that mean?
A snarky, borderline condescending comment that adds little while also naturally shading AG who identifies as Republican and was always deemed to be chummy with GOP administrations. Checked a lot of boxes
Good stuff everyone. I could talk about this all day.
Oh, son...First of all, Greenspan served under both Republican and Democratic administrations. My comment had zero to do with his politics. It was in comparison to you complaining about Yellen's "double speak". Greenspan may not have invented Fed Talk, but he was unquestionably and easily the GOAT.Greenspan was quite open with the fact that he intentionally made his answers as dense and incomprehensible as possible. It was an open joke, and one that he was in on:"What I've learned at the Federal Reserve is a new language which is called "Fed-speak". You soon learn to mumble with great incoherence."— Alan GreenspanYellen is but a pale imitation of the Grand Master.A fact you were either didn't know, or misunderstood.
Well after a strong Q1 report, it's doing well after hours.I bought really, really high during the whole GME fiasco just to "feel" like I was participating in all that...like an idiot. Timing was never my strong suit. Fortunately, I didn't buy much. Hopefully it keeps heading in the right direction and maybe I can get back to even. That's a long way off, though.