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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#331

Post by pixelatedindex »

OutOfHere wrote: post #290
calgarymicro wrote: post #287

Earlier quoted context omitted.

> The algorithm is to be tuned over historical data Because as we all know, when it comes to financial markets, past performance guarantees future results. Oh wait . . .

That's just something they say to scare the children. In any event, the point of a decent algorithm is that if the result isn't complying with the action, upcoming updates to the weights will fix it. Moreover, changes to the weight would be such that they optimize for maximum learning. It is so weird seeing people preach for an obscure entity to do something so basic, and being shut down when asking for transparency.…

> That's just something they say to scare the children.

Is that really your response to “past results aren’t indicative of future performance”? Honestly at that point why not just let ChatGPT run loose and set guidance? Please, I implore you to think about the issue a bit deeper.

Re: Statement from Jerome Powell

#334

Post by drpepper42 »

the_real_cher wrote: post #268
pixelatedindex wrote: post #218

Earlier quoted context omitted.

Do you have an alternative to the Fed? Likes and dislikes has nothing to do with it. Or let me ask you another way — why do you dislike the Fed?

I believe the fed replaced the gold standard.

No it did not. I don't know why people repeat this so often but it is very frustrating. Nixon unilaterally ended the gold standard because the US was printing money to pay for Vietnam and the rest of the world called the US on its bullshit. The end of the gold standard is relatively recent in history and the verdict is still out on the impact.

Re: Statement from Jerome Powell

#335

Post by unethical_ban »

mrstackdump wrote: post #131
unethical_ban wrote: post #116

Earlier quoted context omitted.

That's a conspiracy I've yet to hear.

He says it himself! His role its to induce "healthy" unemployment.

But that's not a conspiracy, that's built into the system. 2% unemployment is a number I remember from high school economics.

Re: Statement from Jerome Powell

#336

Post by patcon »

afavour wrote: post #208
tds_is_real wrote: post #200

[flagged]

They literally have an entire web site dedicated to this that explains the reasons for the cost increase: https://www.federalreserve.gov/faqs/building-project-faqs.ht... Could it have been cheaper? Possibly. But let’s be real here. It’s blatant intimidation.

tds_is_real = "the deep state is real"

Enough to know we shouldn't bother replying

Re: Statement from Jerome Powell

#337

Post by jgalt212 »

cman1444 wrote: post #295
jgalt212 wrote: post #243

Earlier quoted context omitted.

I dislike that the Fed operates as if the happiness of the investor class is their number one priority.

Of the dual mandate, which would you say prioritizes the investor class, and how would you approach it differently?

> promote maximum employment and price stability (low, stable inflation, targeting 2%)

The dual mandate says nothing about asset prices. The only prices it mentions are those involved in CPI calcs.

Re: Statement from Jerome Powell

#338

Post by wat10000 »

Aurornis wrote: post #188
renegade-otter wrote: post #86

Earlier quoted context omitted.

America has enough power to help someone else. No one has the power to save America from itself. The cavalry is not coming, and this fire is going to take its course. One day, maybe we will rebuild from scratch.

> One day, maybe we will rebuild from scratch The current situation is bad, but this is just doomerism. The current administration will end. Trump can't live forever. His approval rating is already low and falling. We're in for a bumpy ride, but then it's going to start reverting toward the mean. Not necessarily back to the way things were, but periods of extreme like this are followed by a reversion to the mean more…

Trump is not the problem, he’s a symptom. The problem is the roughly one third of Americans who think he’s great, and to a lesser extent the roughly one third who don’t care.

After all that’s happened, his approval rating is still above 40%. Those people aren’t going away or changing their minds any time soon.

Re: Statement from Jerome Powell

#340

Post by amanaplanacanal »

jordanpg wrote: post #310
mmooss wrote: post #217

Earlier quoted context omitted.

> I fear this is all going one way That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. They do it in Iran. The Republicans and MAGA movement have made changes that would have been unbelievable ten years ago.

Stated differently, if things really are so bad (and I would be the first to agree that things are pretty bad), then why are so many comfortable people (like me) not out on the street every day? There are a lot of reasons for that, of course, but the bottom line is that when things get bad enough -- much worse than they are today -- then more people will take to the street, along with whatever sacrifice that entails.…

Not sure being out in the street really does much. Gives the jack booted thugs an excuse for a little recreational violence.

A general strike might have an effect, but I'm not sure how you organize such a thing.

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