Fed Chair Powell delivers remarks at the Washington Forum on the Canadian economy - 4/16/2024

Federal Reserve Chairman Jerome Powell speaks at the Washington Forum on the Canadian economy in Washington, DC, in a moderated discussion with Tiff Macklem, Governor of the Bank of Canada.
For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/42d859g
» Subscribe to CNBC TV: cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: cnb.cx/SubscribeCNBC
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: www.cnbc.com/
Follow CNBC on LinkedIn: cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: cnb.cx/LikeCNBC
Follow CNBC on Threads: cnb.cx/threads
Follow CNBC News on X: cnb.cx/FollowCNBC
www.cnbc.com/select/best-cred...
#CNBC
#CNBCTV
Fed Chair Powell delivers remarks at the Washington Forum on the Canadian economy - 4/16/2024

[@HiteshAgarwal007]

instead of obsessing with interest rate cuts, market should accept to live with high interest rates forever

[@blongshanks77]

Or at least for the next 12 months. Time for the market to focus on important things like earnings

[@johannestams1422]

yes make a cup of sprite at mcdonalds 8 euro its already 6 euro for 0,4l liter

[@Freedo1234]

No la , US is in astronomical debt , how can you survive

[@scottleggejr]

FJB he ruined our economy

[@wowbizz2519]

The truth is all off you, you doing a great job, to maintain a sheety life for the tax payers, and maintain the growth for the rich to get richer, so I hope people will awake, and take some action for a fair decent life, with security education and fair pay rates, to not fear for the day of tommrow. But they have no ideea how the rest of us we are doing, becose theyr wages, and the money that they make based on the information that they have, they get rich and richer, and they party like 20yr old.

[@ecosignals]

🇨🇦+🇺🇸 Fed's are Happy with how things are going. That is, they are happy with the "controlled rate of burn" of the vast majority of people 🔥 🇨🇦 has tighter lending always, comparatively. Hasn't had >10yr mortgages. Doesn’t have a world reserve currency. Is at the whim/short stick of US in trade (softwood, oil, pipelines, planes~AvroArrow~A220, grains, masks, drugs, social*medias). Had WAY less stimmy. The similar rate hiking 🇨🇦 is VASTLY more impactful/painful than the record rises in the 🇺🇸. That they are seemingly tone deaf on this, is disgusting.

[@scottleggejr]

Idiot woke leaders ruining the whole continent 😂

[@danieldinnell4944]

Remember a time when the borders were secure, the world was at peace, gas was cheap and plentiful, groceries were affordable, mortgage interest rates were 2.5%, and the economic outlook was optimistic. I sure do miss those good old days from just over three years ago.

[@handsomejustin]

The world with the UK and USA was NEVER peaceful. In fact, the world is more peaceful right now than in the past 250 years due to American not being able to invade as many countries as it can and wants to like before. You're just blind and uneducated.

[@michaelciccone5950]

Translation, Canada is not waiting on the the US to cut

[@teniente8282]

Let them cut and see how inflation comes right back up eliminating months of progress.

[@dioncamper]

So we not cutting rates?

[@zezuzaza]

nope

[@Gabriel-ci7db]

repeat after me: higher for longer

[@alexsorrow6133]

Later

[@JoeC5050]

increase might come.. after 6months, he will say

[@teacherrussell5206]

@@Gabriel-ci7db It blows my mind that anyone would ever have assumed that there would be a single rate cut this year, especially early on. Americans really truly just hear what they want to hear, and see what they want to see when they read now.

[@stephenbush7200]

I disagree with Powell's statement that "should inflation further increase he can maintain the current level of restriction for as long as needed" and at the same time he says "he has significant space to ease should inflation begin to drop". Rates are NOT high where they are! There is NO ROOM to lower rates without unleashing inflation, especially on EVERYTHING bought on time! Rates should be INCREASED, especially after months of inflation increases. This attitude of refusal to raise rates is dangerous! Rates should be raised to conquer inflation decisively! Even "shock" the markets with a large rate increase. Then from a range of 7 to 9% rates, if inflation can be controlled with no more increases than that, rates can be lowered to the current range for stimulus AFTER deflation brings ALL prices back down to sustainable and reasonable ranges. Prices are too high! Homes for example must come DOWN in price so that people can afford to buy them at current rates! Rates too low are very bad! It causes inflation in EVERYTHING bought on time because sellers will price the assets at the top range of what people can afford to pay. Lower the rates, HIGHER the price! Rates too high are also very bad. They slow down business activity and demand. Balance is the key and that is a range of 5 to 7%.

[@tarunmedi]

lol listen to him carefully .. u were not paying attention sir ... he said " significant space to ease should " the labour market" unexpectedly weakens ! lol

[@scottleggejr]

​@@tarunmedigovernment has to stop all spending

[@JIPlatium]

The only thing it does is hurt the American working class. No impact to the rich. Everyone who is for high interest rates are people who are well off or not impacted. Food, fuel, homes, and low wages crush the middle and poor class, while the A-hats in charge rake in the revenue from inflation. Would love to see the "so called elite" have to spend 3 years with 30k a year trying to make things work. Would change their perspective. But what we get instead is the silver spoon out of touch tards thinking they know best. Let me tell you, "them knowing best" doesn't work. National debt is an all time high and the gap between poor and rich increases substantially. People just want to earn a living and be comfortable, sadly the rich and political take advantage and abuse the 95% of Americans. Shameful. 0:00

[@captainedwardjsmith1640]

You my friend get it. Unfortunately everyone has adopted “fix the symptom not the cause” mindset.

[@Zero-Fiat]

The choice is between system-wide bank failures, or higher prices at the grocery store. They're fully aware cutting rates will cause price increases, but their first priority is to prevent a debt spiral (not that hyperinflation is much better, but that's the easier choice from their perspective).

[@AnimatedHistory-InCharts]

Idiotic FED guidance for rate cuts a few months ago and now preparing for a rug pull similar to 2021/2022.

[@scottleggejr]

They can't interest rates their way out of sleepy Joe spending 😭

[@perryberens618]

Why does someone always have to narrow the entire woe to one person? Blame yourself for not voting on the most important offices in Government right in your own backyard. Local and state Judges , tax commissioners. Insurance commissioners. Your state, and local dem. Or Republican party leaders that promote their picknof who wins every office. Those are the policy makers. Not the Bidens. Get involved stay involved inform not narrowly judge. Oh yeah and quit reading without investigating thoroughly talk to leaders. Local, and State level. If they won't talk. Don't vote for them.

[@teacherrussell5206]

I know it's not what he meant, but comparing Powell to a monster and war ciminal like Kissinger? You could have picked a different educated and accomplished man😁

[@wanderingfido]

46:00 Powell has no idea how bad the trade relation has gotten under NAFTA 2.0. Chrystia Freeland blew it up. She incorrectly assumed the concessions awarded to Canada during the cold war up to 1992 would be carried forward into the new agreement. They didn't.

[@september3590]

The immigration threshold is too low and status is too easy to obtain. Let's continue to do this and see what Canada will become.

[@brandonzawaski]

There are amazing similarities in our economies. We both have an average homeownership age of about 36 but Canada has a shorter term mortgage on average. Jay does a wonderful job getting information from a variety of sources from what I can tell here and some past q&a's I've seen. I suppose after averaging out what everybody says, you start to develop those policy baseline ideas.

[@JobBhandar]

donot be long on markets..gold comodity and even global crises made worried

[@JobBhandar]

global crises.. no rate cuts can happen

[@johnjuby6184]

Thumbs down. 720P. Nothing but a blur on a 27" PC monitor. It takes 1080P. Why don't you learn your science?

[@cat-.-]

lol demanding video quality on a conference call is something else. This might as well be a podcast and convey just as much information

[@alien78116]

keep handing

[@AndyTN64]

Time to get rid of FED and Central Banks. The world needed to bring back gold backed currencies.

[@jxhensley2243]

hold your breath until it happens

[@fjcscbs]

These central sectors have too much power. We need decentralized finance.

[@noahsouza7677]

Rate cuts will not happen.

[@bobsaggett9678]

What planet do these people live on? Its not earth.

[@brandonzawaski]

And one final thought to Jay's point about the export of comedy, that's why they call it the Loonie, right?

[@Seanpfree]

Please update us on how you're helping to end first time home ownership in the US and eliminating the middle class in a generation.

[@chezbizo]

this aint a questionarre genius

[@Shauntay76]

You Will Own Nothing And Be Happy. 😢😢

[@ecosignals]

Keep on singing the song of the 1% ​@Shauntay76

[@JorgeSalazar-kg6xc]

Has to be 7 to be on equilibrium, because of vale of currency múltiple by 7 and is 5% in usd now is 3,7 in percentage without foreing capitales I come which obviusly is money going to USA, only by holding it for a banker is 2% spread between, is money landring

[@change_your_stars3262]

People doing two jobs side hassles to survive 😂

[@sihooperkelly8798]

$TPET 🚀 to $1.50-2 OIL $HYMC $5-7 GOLD/SILVER MINING $ISPC 50-75 cent $ENVS 50cent to$1 OIL $TPST 9.50/10.50 it's Cheap at present as last PR HIT $9.47

[@TebohoMakhalemele]

👍

[@rco1128]

0-->8 min = BS

[@robertmccamman4630]

Translation - With massive spending by the federal government we find ourselves with no present strategy to reduce inflation to the targets previously set at 2%. Conversely, we are expecting to inflation to stay in the 3% to 6% range for the foreseeable future.

[@drscopeify]

Nothing wrong with higher inflation if the economy is doing well as a result, it's all a balance of inflation and GDP. If stuff costs more but the income rises at stable pace then the 2 forces are dancing together. It's all about that overall picture. Also keep in mind that all Central Banks aim for moderate inflation because every economy needs inflation, it gets people out to go and work, it keeps prices rising as falling prices are very very dangerous, when prices fall they tend to keep on falling as people see prices fall they stop buying thinking tomorrow will be cheaper and that race to the bottom can go on for not years but decades, look at Japan 20-30 years of stagnation, that's not what you want. This is not politics, right, left, democrat, GOP, its not about that, this is the economic structure of your country. Also the best years of rising GDP in the USA lead to the fall of inflation so focusing on GDP rather than inflation leads to better results over time.

[@bobsaggett9678]

Economy's don't need inflation. The economy is not strong at all. All of the gdp is government spending and all of the jobs are part time.

[@drscopeify]

​@@bobsaggett9678 Yes, economies do need inflation to get people off their sorry ass and get to work, only 64% of Americans of working age are actually working that is a very low number in Germany it is 80% for example. The USA GDP will rise from high inflation because it will get American off their ass and get working again which lifts up GDP. The US Government spending is 35% of GDP but this is pretty low it is 55% in France, 45% in the UK and 33% in China so we are about the same as China at 35% but way less than Europe.

[@bobsaggett9678]

@@drscopeify stopped reading after we need inflation for people to work.

[@drscopeify]

@@bobsaggett9678 You can ignore the truth but that's your choice. Meanwhile the FED will do their job as always, they will try and get inflation to 2% but they will not sacrifice the economy for it.

[@september3590]

With unrestricted acceptance of foreign immigrants, has there been a detailed investigation into the actual contribution of these immigrants to the country? Or are they just here to support the elderly, speculate in real estate, and enjoy the country's various welfare benefits, which increases the financial burden on the national treasury.

[@eckteckteckk171]

canada's been sold.

[@JAVRTH]

Lets all make bank collapse taking our money out so it will be a recession which the feds will cut thw rates😅

[@TSones23]

Go First, you will attract robbery in your home.

[@Topglobalharleyyyyy]

ya powel so stupid rate cant make inflation low tell biden stop printing money

[@hjhj6701]

seems like they havent sold all their altcoins yet lol

[@teniente8282]

So Money printer don’t go brrr brrr anymore??🥺🥺

[@drscopeify]

No they have been doing the opposite with QT the FED has shed some 1.5 trillion. FED balance sheet hit 8.96 trillion in April 2022 and now today it is down to 7.43 trillion in April 2024

[@rzee]

Empty your bank accounts!

[@BrytnJPEG]

WHY

[@ff_user]

@@BrytnJPEG because some guy from the internet said so

[@rzee]

@@BrytnJPEG banks will seize your money, don’t trust them

[@Topglobalharleyyyyy]

@@BrytnJPEGbank collapse you still want higher for longer too idiot people internet

[@alexnehme3493]

Canadian losing job. No growth. Small businesses going bankrupt. Foreclosures on the way. Canadian stock market always down. Housing to crash by june. Maxed credit cards. Shelters everywhere. Quality of life is doomed. Goodbye canada lets move to usa. Texas looks cheap or cuba😊 or dubai.

[@Heerdennienaber]

What are the best additions to a $600k portfolio to boost performance?. ETH is Up and will do better, I believe as indicators for profits continue to improve, investors like me believe that "Santa has come early" to the markets...

[@meyerdebeer-je6vi]

wow massive gains! my partner recently hinted on going same direction.. what did you invest in, and who is your investment advisor please, if you don't mind me asking? in dire need of asset allocation.

[@jxhensley2243]

@@meyerdebeer-je6vi shut up

[@larchdental]

No recession in Canada? Are you serious? What a liar.