Wednesday, November 29, 2017

Fed's Powell on Congress' Role


Lane departure from previous two Fed morons:





4 comments:

Michael Norman said...

Wow!!

Tom Hickey said...

This is an important signal.

Ben and Janet knew this and tried to say it in a why that didn't signal that the Fed (monetary authority) was powerless to deal with this kind of issue. Central bankers were very concerned that they would lose their authority, and it they lose that, they are also likely to lose their independence.

Powell just admitted, albeit somewhat obliquely, that the most powerful central bank in the world is out of ammo.

That's a big deal.

Noah Way said...

Why - they can't print any more money?

Or is it the realization that giving it all to the 0.1% causes negative growth?

Matt Franko said...

N, all the Fed can do is exchange low yielding reserve balances for higher yielding assets and set rates lower to screw savers ... it’s of no help...