Fed Chair Jerome Powell: The 2024 60 Minutes Interview

Federal Reserve Chair Jerome Powell gives his thoughts on inflation risks, the economy, the timeline for cutting rates, the health of the country’s banks and more. Scott Pelley reports.
#news #economy #federalreserve
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[@2wheel_freedom]

How is this 60 minutes ? We only got 13 mins. Dang Shrinkflation !

[@esousa486]

LOLOL 🤫😝

[@bassfan71]

😤😤😤 Facts

[@yawzerdoink-a-sore-as8159]

60 minutes used to be 60 minutes, we we decided to make that 13 minutes 😂 “three quarters of negative GDP is NOT a recession” 😂

[@good8072]

HAHAHAHAH

[@sam123sder]

Just like the size of my chips packet. Same price, 1/3rd the size.

[@esousa486]

A "sincere THANK YOU" to 60 MINUTES for allowing us all to post our comments on here !!!! Others like PBS always "Turn Off" comments on such matters !!!

[@networth00]

Thank you for free speech? Have we really gotten to that point?

[@EricHartnett-wh1lv]

And now if KZbin overlords would show the dislikes count, oh wait we're not worthy of such information... clown World

[@williebeamon3083]

Well how else will the government see feedback.

[@bigpuffyfluff]

@@networth00 the ability of whether or not you can comment on youtube isn't "free speech" 😂

[@honestbusiness1371]

Have you read many posts? If so what value did they really have. 1/3 of posts are generated by AI and Foreign groups.

[@inittowinit928]

If the CPI is so accurate, why don’t they include taxes in the calculation? It is the biggest expense to the people, yet it is not included in the inflation calculation.

[@MckensyLong]

My first impression is because it doesnt look good. But wonder if its because it creates an infinite loop, as inflation rises, taxes go up exponentially. If you double your income, you pay more than double in taxes. Meaning it's a net loss. (and doesnt apply equally depending on where you start) Its hardest for the lower and middle income brackets. if i make $100 Taxes is $30 Cost of living is $70... $100 of $100 Now i make $200 (move into a higher tax bracket) Taxes is $70 Cost of living is $140... $210 of $200 I'm negative $10. Wife and I were able to increase our income nearly 50% with my wife taking on some other income. We still feel like were negative 20% from the year or 2 prior. I couldnt imagine if we didnt take on the extra work, like most people cannot. I suppose if you own a house, and a car at low interest rates and your job stayed the same the effect on you personally wasn't as much as someone whose rent nearly doubled.

[@happyjohn1656]

​@@MckensyLonggood theory

[@ktgiang]

Thank goodness KZbin cut out 47 minutes of network TV ads

[@dertythegrower]

This isnt the whole episode... so many people love to copy the top comment even when the reply is incorrect... sheesh

[@WiolciaMrozowska531]

John Desmond Heppolette's approach is pivotal for achieving success in the realm of online commerce. His management group has showcased outstanding effectiveness, and I also value the content available on his KZbin channel...

[@WiolciaMrozowska531]

he's mostly on Telegrams, using the user name.

[@WiolciaMrozowska531]

He is verified..

[@WiolciaMrozowska531]

Johndeshep934

[@derrickjohnston8477]

1 million per household of debt. That is freaking absurd. He literally said we cant keep this up forever.

[@khaledalromih]

Freedom isn’t free

[@pinewood6340]

​@@khaledalromihyes it is. but not when they've been stealing from you for 50 years with the threat of jail if you don't like it

[@hakim4679]

They refuse to Tax the wealthy and decrease their tax breaks. Can't blame welfare when we went form a single income supporting a family to dual incomes barely supporting each other.

[@xxyyzz8464]

I agree it is unsustainable and lawmakers need to stop spending more than we earn and produce, but he said $1M/household in 30 years. That’s equivalent to about $250k today.

[@antoniolyons2881]

We don't need to worry about government in a country where the government has legal authority of the currency that debt is issued. It can just create the cash needed to pay the interest.

[@markbrier8717]

Why the hell diid this interview not talk about housing costs? Who cares about the price of hotdogs when we are being devastated by rents, insurance and property taxes????

[@theroldan8013]

cos you are cannon fodder for ww3 who cares

[@jeffjenkins-ks4sn]

Bc it’s Cbs. They are trying to convince you that everything Biden has done is fine and things will get better as long as you keep Biden in. Ridiculous

[@Tsunseyu]

I know, right?!? I’m a disabled veteran trying to get housing and anything that qualifies for the VA loan and anything anywhere near my job is way too expensive for me. It’s hard to find anything that both qualifies for the VA home loan and remains something I can afford. 🙏🏼🧘

[@loriurias110]

Property tax is on the state . Corporate profits are an all time high. Overpriced housing is on property owners making their profits to reinvest in MORE property. Change taxes on the rich, make corporations pay their fare share. They use roads, infrastructure, and benefit from all we pay for, while not increasing pay for labor, admin assistants, etc. Just a thought.

[@abdulrahmanraheem423]

Exactly! Housing is the biggest problem if u ask me.

[@jacksonlucas5933]

The Market have been suffering over the past month, with all the three indexes recording losses in recent weeks. My $400,000 portfolio is down by approximately 20%, any recommendations to scale up my returns before retirement will be highly appreciated.

[@blessingpeter5681]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@Henrydonald1]

I agree. Based on personal experience working with an investment advisor, I currently have $385k in a well-diversified portfolio that has experienced exponential growth. It’s not only about having money to invest in stocks ,but you also need to be knowledgeable,persistent,and have strong hands to back it up.

[@Maryconnell256]

I’m new to all this, heard it's a good time to buy and basically I've just got cash sitting duck in the bank and I’d really love to put it to good use seeing how inflation is at an all time-high, who is this coach that guides you, mind I look them up .

[@Henrydonald1]

Sure, the investment-advisor that guides me is..

[@Henrydonald1]

MARY TERESE SINGH

[@LetsPayOFFAmericasDebt]

I wish the Government and Fed explain to people that we need to tolerate high rates FOR A LONG TIME for OUR FUTURE GOOD. Instead, we have this constant hype of when the rates will be cut.

[@carlosgrunow3740]

LOL that’s what the news does he tells you pretty direct during video

[@thomasecosse]

11:05 This question and answer is perhaps the single most significant statement that I have heard coming from a person of such significant authority, not only the American people but people of democratic nations worldwide. Listen to it a couple of times, just to absorb what Jerome Powell said and think about this very intelligent man's words. Thank you, Mr. JP. 27 02 2024 UK

[@billballeza377]

The price of a hamburger will never drop from ten bucks, nor the price of a cocktail from seventeen bucks. All while everyone in service turns an iPad towards you asking for higher tips.

[@kimbuck2177]

I love hitting the ZERO button.

[@96mryomama]

Yes because deflation is a sign of a dying economy.

[@user-dg7df3sv7r]

and, if the merchant is using Square, an automatic percentage is charged to you - which no one mentions & most aren't even aware they are paying it. Regardless, I don't blame that on J Powell. I'm not even an 'armchair' economist but, fwiw, I think he's done a remarkable job of navigating *numerous complex systems*

[@gerrypeet4861]

Maybe you should in instead of eating out.

[@digitalpacs]

That's why we eat at home, more healthy, taste better, and don't have to worry about not filling guilty about not tipping on take outs.

[@king.bob1246]

Let's check back in 9 months

[@adamik2271]

Rate cuts now!!!!

[@dannyaoalsson]

Layoffs in the Biden economy in the last month: 1. Twitch: 35% of workforce 2. Hasbro: 20% of workforce 3. Spotify: 17% of workforce 4. Levi's: 15% of workforce 5. Zerox: 15% of workforce 6. Qualtrics: 14% of workforce 7. Wayfair: 13% of workforce 8. Duolingo: 10% of workforce 9. Washington Post: 10% of workforce 10. eBay: 9% of workforce 11. Business Insider: 8% of workforce 12. Paypal: 7% of workforce 13. Charles Schwab: 6% of workforce 14. UPS: 2% of workforce 15. Blackrock: 3% of workforce 16. Citigroup: 20,000 employees 17. Pixar: 1,300 employees 18. UPS: 12,000 employees 19. Zoom 2% of workforce 20. Okta 7% of workforce Amazing how fast America sniffed this weeks jobs report out as complete lies due to Biden's government reporting in an election year.

[@makeart5070]

It's transitory

[@TATTEDGAY]

People have said that for 3 years …

[@xiaoka]

It seems like a lot of republicans are angry that we haven't had a recession yet...

[@gautruc]

I think it's the first time the channel turns on comment section. It's worthy.

[@e5m956]

Any video that has comments disabled gets an automatic thumbs down from me. Always give videos with comments disabled thumbs down to put it down on the algorithm.

[@thomasecosse]

11:05 This question and answer is perhaps the single most significant statement that I have heard coming from a person of such significant authority, not only the American people but people of democratic nations worldwide. Listen to it a couple of times, just to absorb what Jerome Powell said and think about this very intelligent man's words. Thank you, Mr. JP. 27 02 2024 UK

[@agrxdrowflow958]

"Fiscal policy is unsustainable...debt is growing faster than the economy." Blunt words of war in FedSpeak.

[@DJ-bj8ku]

Increase taxes on top earners like Musk if you want to pay down debt.

[@agrxdrowflow958]

@@DJ-bj8ku Agree 100%. The problem is his wealth is all tied up in Tesla and Space-X stock. So, we'd just be taxing those companies which are doing good work. Better to tax the Uber-Wealthy Rothschilds and Rockefellers.

[@esousa486]

How LONG till the FED has to "bail out" the next group of "small" banks , Mr Powell ?????????? You KNOW it will still happen ...

[@ryansatchell2302]

@@DJ-bj8kuyou can take all of musks money and leave him with a penny. And yet if the govt keeps spending the way it is, that still won’t be enough. It’s like having one parent that makes and saves a lot of money. And the other that spends more than that every check. Sure, we can just say to the breadwinner, “make more money”. Or… a more sustainable solution, we can ask the spending parent to cut back and help get the budget balanced.

[@williamevans7830]

​@DJ-bj8ku the us gave Ukraine more than elons net worth in a couple years

[@millertoyal]

Not only are prices up, but corporations are shrinking products as well. They're doubling costs and decreasing the overall volume/ sizes.

[@jsanford01]

My toilet paper roll is 1" narrower and my protein powder container is half empty 😅

[@DonTrumpF2024ever]

🤣🤣 the enquirer is more believable than 60min! Powell will say anything to NOT get his BULLY (trump) elected!

[@NsRhea]

They call it shrinkflation.

[@Riddle-Me-This-Puzzles]

WRONG. learn how inflation is measured. What you want is DEFLATION .. where prices go down. This isnt good... do your research on deflation.

[@bo2.4u6]

Tell me about it!!!! Please read my comment!

[@goldsbym]

My grandfather in the 70's made $4.50 per hour. Had a 4 bedroom house, two nice cars, good food on the table, grandmother did not work, and we went to the movies every weekend. WTH is happening today?

[@MsJenniferinNYC]

American Dream is DEAD. HAS BEEN DEAD

[@stage51manager]

That was 50 years ago.

[@goldsbym]

@@stage51manager my point exactly. He lived the American dream on 40 hrs per week at $4.50 an hour. One household income paid for everything. Today the cost of living is so high it takes 2 people making $20 per hour to live the same.

[@stage51manager]

@@goldsbym Capitalism was strong 50+ years ago. Flash forward today. I’m making about $26 an hour at my full time job. I do have a house 🏠 4 bedroom, two baths. My mortgage payment is off the roof. (I won’t get too much into details) However I don’t have any children, (which is a good thing, nothing personal) I only have 1 car, (which is payed off). I’m dating a woman 🧍‍♀️ been dating for about four years. (not a serious relationship) Plus I have a 2nd job part time on call, $21 an hour, and I have some side jobs, side gigs on the weekends. I live all by myself in my 4 bedroom house 🏠 Call it whatever American Dream American NIGHTMARE. The comedian George Carlin predicted all this stuff 🇺🇸🔮

[@DanielLarsonofficia]

The fed we need to abolish the federal reserve

[@thebitcoingarden]

Pretty important one, thanks for the interview!

[@Seanpfree]

35y/o 74 bids since 2019 on first house in middle Tennessee outbid EVERYTIME by cash investors. We've put off marriage, kids, and enjoying life until we're in a home. It's further out of reach than ever before for us in the middle class. Wages aren't holding a candle to cost of living & inflation. Powell ONLY helps asset holders, the biggest banks, and the biggest investors. Our economy has left the middle and lower class behind.

[@scottallancole3635]

Spot on, but it hasn't just been Powell... Bernanke and Yellen before him as well, along with our government.

[@frankperrott6048]

You are aware so you should be buying assets.

[@backyardboogie5117]

Open a stock portfolio and start buying before the market takes off 🤑📈

[@teeconsigliano7631]

yup, government is run by the rich for the rich. but inflation hurts everyone. have you considered down payment assistance programs and buying a condo?

[@guccisasha]

You should blame who gave free money to people, during covid, and still to a certain extent. That's what started the inflation.

[@Rgnotown]

I keep telling people things are not going back down. We’re stuck with these prices. Only thing that will go down are interest rates and that’s gonna take awhile

[@theroldan8013]

take that putin

[@jamescoppe]

It won't take long. They'll cut 2% the next 18 months.

[@kayalcorn9569]

Restaurant prices won't be coming down.

[@Toby-WanKenobi]

The price fixing by the corporations will never come down. Your 20 oz bag of Doritos when you grew up will now be a 8.5 oz bag, with '2% of increases a year'. Don't believe that everything macro can be fixed. Just because things grow slower don't mean that they don't still grow. And the corps know this.

[@Djamonja]

@@jamescoppe That won't lower prices, just interest rates.

[@bradlucass]

The Fed kept talking about bad things happening all year, and we believed them. But, surprise! Productivity actually went up to 2.6%, beating the expected growth of 1.8%. The workers did a great job. Maybe we don't need the Fed after all.

[@brianwalker5263]

If the economy is so strong why would you lower interest rates?

[@Bertinator-nm9ld]

To make it even stronger. I think that's the basic idea, anyways.

[@joela.4058]

It’s a balancing act because you want it easy for people to get loans but not too easy that it creates inefficiencies and bubbles.

[@twelvecatsinatrenchcoat]

Because the real estate market is collapsing. No one wants to budge if they think rates are too high.

[@tohigherhighs]

Real estate and national debt interest payments

[@joshchild]

To not over correct inflation into deflation. It's like adding salt to a meal. If you add too much, it destroys the dish.

[@EFGAlterEgo1]

If anyone is familiar with the late 70s/early 80s where Paul Volcker was in charge and when they cut rates and inflation broke out again. That's a good reason not to be too quick on rate cuts.

[@colliric]

If you wait too long the recession is far worse than it otherwise would have been. You have to time things better.

[@marodint]

You are absolutely right, rates should be lowered very carefully and gradually

[@jwloohou2]

@@colliricwould you say a recession is inevitable?

[@F.o.s.t.e.r.]

@@jwloohou2 Yes, its just a matter of time. Thats one of the foundational points of horse and sparrow economics, boom and bust. Save during the boom and buy during the bust, thats how wealth is redistributed.

[@radar0412]

That was Arthur Burns. J. Powell is using the Volcker playbook to make sure he doesn't repeat Burn's mistake

[@Anthony-dj4nd]

This is like the ultimate gas lighting 😂

[@joziewales1965]

It’s not 3%. They specifically chose a basket of goods that equaled 3%. But all of us know it’s higher than that.

[@nonyabuiz2023]

Would someone please tell me why interest paid on fiat currency and who collects it, any why should they collect it without collateral? These questions are on my mind and can’t find answers. Thanks!

[@tailz678]

Look into Ponzi schemes. Wealth always seems to travel upward.

[@JoeDuffy69s]

Lol what an intro. Jerome powell saved the economy 😂

[@joesloan1724]

Tell my paycheck. It keeps buying less.

[@kindnesslove5482]

Yes. He said aiming for 2% inflation. Not deflation. Will always be like that. Out of control like 2021 and 2022 is what needed to fight.

[@pietrojenkins6901]

@@kindnesslove5482 because 2% is healthiest for the economy.

[@kindnesslove5482]

@@pietrojenkins6901 Good number. Not an exact science though. Depends on many factors. Shouldn't be fixated on 2% target. They made mistake aiming for it too aggressively early 21 and way overshot.

[@BrentRichards-vp1cg]

Billionaires and ultra elites do not think you really need as much stuff as you have

[@pietrojenkins6901]

@@kindnesslove5482 all true.

[@ELFKidsVideos]

It’s so refreshing to see and hear good questions and answers about serious issues. Thank you.

[@networth00]

LOL

[@edwardstanton3571]

What were you watching?

[@andrephillips7764]

Tucker

[@thomasecosse]

11:05 This question and answer is perhaps the single most significant statement that I have heard coming from a person of such significant authority, not only the American people but people of democratic nations worldwide. Listen to it a couple of times, just to absorb what Jerome Powell said and think about this very intelligent man's words. Thank you, Mr. JP. 27 02 2024 UK

[@NicholasRehm]

Inflation may be "tumbling" but what they fail to communicate is that its the RATE that is falling, i.e. things are so much more expensive now than they were 2-3 years ago and they will NEVER go back to where they were. Prices are just growing slightly slower now 🙃 And wages have not gone up to equalize to the damage done, so we are still suffering from insane inflation despite it being "dead"

[@FRENCHDRAINMAN]

What an honor it is to have him as chairman. USA economy is in good hands.

[@robertogutierrez2897]

"Integrity is priceless. And at the end, that's all you have."

[@AbelardoLopezIII]

Yup

[@jimything2212]

I have two jobs and currently looking for a 3rd just to afford groceries. Best Economy Ever 😂

[@katielove9932]

Either you're not making enough money on your 2 jobs or you're living beyond your means. Looking at your picture, you may be wasting money.

[@101yak]

@@katielove9932 Yeah Katie, keep telling a guy who is working 2 jobs looking for a 3rd that he is not living correctly at peak labor usage of ones self... Geez, talk about being inhumane. using 100% of your time and labor and she thinks ITS YOU who is the problem, oh lawrd the right have brainwashed Americans to a fault.

[@bribri6985]

@@katielove9932you could be right but you have to understand and acknowledge that there are people living paycheck to paycheck even with having 2 jobs or more

[@jimything2212]

@@katielove9932 Welcome to the Party PAL

[@radar0412]

Go to college. It's not too late

[@joelhurni9821]

Respect! Good answers, good questions.

[@jburdman7]

We've gone from: don't worry, it's transitory To: praise us, your milk and eggs only doubled. And hell no the price isn't going back down hahahaha

[@mr.monitor.]

Unemployment is so low - we have people sleeping on the streets while working 3 jobs😅

[@boinknook]

Not only is congress in debt ($33T), credit card consumers are too!($1T)😂😂

[@coryfoster4907]

Student loans now outweighs credit card debt which is insane. Very detrimental to society and young people's live sadly. We need to fix this.

[@saadologue]

Pay your debt

[@Wa954Stunna]

Lets Not forget the 150Trillion in Unfunded liabilities.

[@jackmcandle6955]

Keeping up with the Jones’s with a credit card is a fools errand especially carrying a balance with high interest 🤦🏻‍♀️🙎🏼‍♀️🤦🏽

[@mtradergame]

Just shows you that it’s not just the governments fault also the public is at fault for constantly. Begging for free stuff so politicians lie in order to get votes cause people hate honesty so politicians promise all this wild stuff which ends up destroying the economy

[@arigutman]

Great interview, definitely moved too slow to tackle inflation, but this is all Monday morning QB'ing... so, if we take it for what it is, we are doing great.

[@oherroprease207]

Why do they need to lower rates at all? If they’re happy with growth rates, unemployment, and inflation why not just hold indefinitely. We’re always playing a game with being right on the edge of runaway inflation. Just leave it for a year then reconsider.

[@Bertinator-nm9ld]

Higher rates makes it more expensive for companies and people to borrow money. If they keep rates high, companies have a more difficult time investing in new projects, and consumers have more expensive mortgages and auto loans. That's not to say that your can't still keep rates high. There's just a trade-off to be had. And the Fed has to try to balance those trade-offs.

[@tiberiusalexander6339]

We're never on the edge of runaway inflation, that's silly. People have predicted runaway inflation forever and it never manifests. When we DO get inflation, it is not "runaway" in the sense that it happens due to specific policy choices, and specific policy choices can reign it in. There's not some line we cross where it is suddenly completely out of everyone's hands and there's nothing the government can possibly do. EVEN IF the government pursues recklessly inflationary policy for a long time - like in Weimar Germany, say - the moment they find the political will to get it under control, they do. In Weimar, they stopped printing money, moved to a new currency, and bam; basically overnight they went from hyperinflation to no inflation. It was the subsequent Depression and austerity, not inflation, that led to the Nazis.

[@prolific1518]

​@@Bertinator-nm9ld fed doesn't have to balance anything but inflation and unemployment. The numbers for both are a lie. So anything said in the news about either is a lie. Powell is a political stooge.

[@accidentalchrist]

​@@tiberiusalexander6339is there a book I can get this perspective?

[@yldrmcs]

I don't think unemployment rates reflect the reality but the thing is so many people are forced to work in multiple jobs that pays pennies. This doesn't mean economy is strong.

[@garysmothers3234]

Wages are now increasing more than inflation.

[@MsJenniferinNYC]

EXACTLY!!!! child care and many jobs are NOT paying well at all which is why many have to take two or three jobs just to stay afloat. When is the Feds going to realize that?!?!

[@htxtony80]

@@garysmothers3234nice joke

[@radar0412]

Unemployment rates do reflect reality. Opinions about everyone having multiple jobs? Probably not

[@stephenayriss5049]

We are losing full time jobs that have benefits and gaining part time jobs that don’t. This is not good

[@ItsBobEvans]

Keep kicking the can. The music has to stop eventually

[@MichaelWalker-wu2pq]

The 2017 Tax Cuts for the rich was a massive failure of the government. It added to the debt and was abs unnecessary.

[@mirzaahmed6589]

The music stopped in 2008. It never started playing again.

[@DaShaneo]

USD will go the way of BCC. Just a matter of time.

[@MBarberfan4life]

The inflation never stops. That's true!

[@amym5932]

Cbdc s next. A cashless society is what they want. Control you and everything else. Now just wait for the major event to happen before they can implement it

[@lynnhauenstein4136]

What year was this?

[@Whitemink32]

Good interview. Thanks

[@jungleman1012]

Wow! This is inflation. Sixty minute interviews now run thirteen minutes and change.

[@willritter4076]

I'd be honored if some 90s fans would take a quick listen to my acoustic piano & vocal performances of LONG DECEMBER by the Counting Crows, NAME by the GooGoo Dolls, and "1979" by the Smashing Pumpkins in tribute to 3 great standards of the 90s era. Live acoustic with no autotune or digital editing. Peace out and stay safe in the '020s.

[@sirdiealot53]

the show is 60 minutes. they have more than 1 interview genius

[@jungleman1012]

@@sirdiealot53 Um, joke. Inflation, Fed, monetary policy.

[@themissingtile2828]

I get the metaphor but wouldn't that be deflation?

[@jacobjoseph1740]

Badum tisss....

[@TheCnattu]

"Integrity is priceless"...wow! what an amazing quote to remember!

[@andrewgeissinger5242]

Sounds like hyperinflation has hit integrity then.

[@TheBrianthom]

Hyperinflation is only when prices inflate out of control in a short amount of time. Not natural price inflation over several decades. If you want your money to no inflate then buy BTC and hold it in cold storage. Or if your a caveman then buy physical gold bars and bury it back into the earth so someone else can dig it back up again 😂

[@georgemcnaughton7839]

Tegrity Matters

[@flag_bearertruth6257]

the interviewer does not ask wht he and hos peers use this method of printing money and not used austrain method. they will print again and the gold to $ was removed since 1971, this means we are in massive debt, so this means there is no way to improve the economy or control the inflation, what they can do probably is to print again to prolong the ression, but techniccaly we are in recession anyways but is lagging, so the interviweee seems to be on their side, they wont let alex joen es interview him and expose, so no integrity, just lies, they will print again during election, "there is no integrity" he fooled you the cnattu - oops

[@twelvecatsinatrenchcoat]

I immediately imagined him trying to say that to Trump. "Everything has a price Jeremy, I have the best prices, just ask anyone, I'll name your price, just watch me, I named Ron Desantis' price and he bowed out, he bowed out like a little boy Jeremy, because he couldn't take it, meatball ron, he couldn't take the price of my integrity, Jeremy."

[@mebootm]

Most Americans don’t understand, but the Fed has done astonishing work reducing inflation. Almost none of the other major countries accomplished such measures, their inflation is kept rising in monthly basis

[@KleWdSide]

Instead... people prefer to blame Biden.

[@twelvecatsinatrenchcoat]

@@KleWdSide My favorite political cartoon of all time is "What Americans THINK the president does." and it's just Obama biting his tongue, focusing real hard while he operates two giant levers in his desk that make "Gas Prices" go up or down, and "The Economy" be bad or good.

[@floppydong295]

@@KleWdSideAbsolutely comical if you think he and his administration have nothing to do with it. Someday the light bulb may turn on

[@rockern1000]

You don't understand that the only reason there is inflation in the first place, is because of the FED. Read "The creature from Jekyll Island" and you will see.

[@dertythegrower]

​​@@KleWdSideGet an actual education, kido... wow

[@mrsterling5306]

How come No financial hosts ever talk about how badly ALL of the govt accounting books are so cooked???

[@elizabethbednar7770]

I was just told my property tax was going up 50% and my electric bill was going up 20% last week. food keeps going up and you want to tell me everything is great and inflation is better. No one can afford Anything but food and utilities and rent!

[@pauldietzmann5610]

Lower interest dont stop property taxes from going up

[@elizabethbednar7770]

What is your point?

[@Alex-spb]

"Everything but food, utilities and rent!" It's time to live within your means, like in other countries on the planet. Many people only have enough for food and one trip abroad a year for vacation.

[@elizabethbednar7770]

@@Alex-spb ok well then don’t cry when there is a recession because people couldn’t afford anything but food utilities and rent because that is what will happen

[@esousa486]

EXACTY where the Top 1% want the rest of us ................. Under their TOTAL CONTROL !!!!!!

[@franklinbowen1228]

We live in a country where big business and convenience is much more valuable than its own people’s well being.

[@LadyLeda2]

My daughter lives in Korea. In that country, people come first, above anything else. Sometimes I just cry silent tears for the way the US treats its people. I am happy that my daughter lives in such a country.

[@yldrmcs]

@@LadyLeda2 Good for your daughter but I wouldn't want to live next to crazy country(s)

[@sten260]

nah I think government doing things because they think they are "helping" people is exactly why we have these problems. Just look at Biden and student debt forgiveness, that is just a recipe for inflation lol and they don't even realize it and people don't either. If they just did absolutely nothing then we would have way better economy

[@juannevindez6969]

@@yldrmcsMexico is not crazy?

[@leoh2502]

Wait until you get Trump back in office. He will probably cut taxes for big business and rich people again!

[@gwjaconst11]

Integrity is PRICELESS. And we plan on keeping ours.

[@Kat-lq8sp]

Thank you for taking one for the team. 2 hours😮

[@user-tu2rk6nu4z]

Stop paying the higher prices for products then the supply increase forces the price to drop.

[@mr.isaiah1275]

Oh wow, great idea…why didn’t every other American think of that?

[@stephenshuman1]

That won’t happen. People still need to eat and live. More things need to be produced. That’s a better way to reduce prices

[@mr.isaiah1275]

@@stephenshuman1 more things being produced, would require more employment. More employment “typically” means a higher rate of inflation, since more people are making money. It’s not as easy as it seems

[@stephenshuman1]

@@mr.isaiah1275 not necessarily…….. supply and demand. More things being produced means that would decrease the cost of goods.

[@mr.isaiah1275]

@@stephenshuman1 true, it’s a balance act

[@LittleCutiePodcast]

Pablo Escobar never would have sold cocaine if he had a money printer

[@andrewgeissinger5242]

Pablo could have printed money. It's called counterfeiting. The difference is that when Pablo does it, it would be illegal, but when the government (or the government's proxy, the Federal Reserve) does it, it's perfectly acceptable. Morally, it's the same thing in both cases.

[@cockyhemi-123]

He had a money printer. The Federal Reserve by way of the CIA.

[@ross5480]

💯👏👏👏

[@RH-mk3rp]

How come prices haven't fallen? Portion sizes got smaller.

[@margaretmcnamara2717]

Job numbers are way up because they count all the part-time jobs which they haven't done in the past

[@clarkhenry3567]

Yep, inflating the job #'s which will be revised down again😢

[@kshitijgupta3272]

The best thing about Powell is he accepts he does not know things. There are too many economists too sure of things who are often wrong.

[@dr.michaellittle5611]

Economics is not perfect clairvoyance, so I think you’re wrong. Btw, Powell,’s view is aligned with that of Nobel economist Paul Krugman.

[@kshitijgupta3272]

lol. Have seen overconfident PK is, time after time being wrong?

[@dr.michaellittle5611]

@@kshitijgupta3272 Krugman, unlike random fingers on internet keyboards, knows his stuff. Over the long run, he’s right on most things. Try and find an economist who has never made a mistake-there isn’t one.

[@rob-time]

Inflation does not mean that prices will go down. It means that they won't go up (as fast). So, income levels need to go up to balance the increase in market prices.

[@marsacox]

In theory prices go down if income levels don't go up as overall demand decreases. Problem is there is too much money on the market distributed unevenly

[@MrPigpiggiepigs]

Income levels have gone up, and they went up faster than inflation this past year.

[@lrich65184]

No it is this central bank manipulating everything. That is how the government controls folks.. money

[@MsJenniferinNYC]

It is SUPPLY and DEMAND

[@jerryhello]

@@marsacox Prices going down is a bad, bad sign and honestly, they won't be. Wages rising to meet them is much more likely.

[@CJ-vz5bl]

Great interview, rare to see that nowadays

[@jucedcustoms2274]

Great interview!

[@QWEEKEN73]

You can tell this is being phrased in a positive light by the opening statement alone; saying that Powell raised interest rates 11 times, as apposed to saying that he raised it back to the 50 year average of 5.5

[@TheBrianthom]

The great reset. For 20 years we had cheap debt. Cheap growth. It's time to see which companies, which CEOs have been doing their jobs and which ones have been swimming naked with other people's money.

[@JM-fo1te]

*opposed

[@paulkormann1569]

Financial Propaganda

[@firstlast-wm3li]

Opposed*

[@QWEEKEN73]

@@firstlast-wm3li thanks grammar nazis

[@PraORedd]

😂 DEBT IS GROWING RATHER THAN Economy

[@gerrypeet4861]

This statement makes no sense.

[@antoniolyons2881]

We don't need to worry about government debt in a country where the government has legal authority of the currency that debt is issued. It can just create the cash needed to pay the interest.

[@gerrypeet4861]

@@antoniolyons2881 Debt growing faster than economy still makes zero sense.

[@chriss2352]

Good, tough, yet thoughtful and respectful questions.

[@mpgski9598]

I would have liked to know more about the chairman's thoughts when the former president publicly pressured the Fed which other president's never had. Can you imagine if the chairman had capitulated with maintaining lower rates at the time as pressured? Experts aren't always right but amateurs less so.

[@joeb1522]

Elizabeth Warren is currently pressuring Jerome Powell to lower rates. Many politicians have done it. Not just the prior president.

[@bdml77]

People don't seem to understand that inflation is not going down. it is just going up less rapidly. that does not mean that prices are as low as they were before inflation rocketed up. Inflation is still extremely high

[@SimonAndersen21]

the definition of inflation is the rate of increase in prices over a given period of time. Prices are up, but inflation IS down

[@michelangelobuonarroti916]

You are confusing past inflation with current inflation. You could have 0% inflation and bread will still cost more than it did in 1950.

[@SoFloCo-ne4rk]

Inflation the is rate of increase. Lower inflation doesn't mean prices go down.

[@TL-qr3ii]

your comment only reveals you know nothing about this topic. geez.

[@jimnorton4520]

Economics 101 I took means spend more money than bring in is recipe for disaster and prices keep going up because all money we are printing.

[@immortaljoe6468]

The prices are still too high

[@michelangelobuonarroti916]

Wages are also higher.

[@mirzaahmed6589]

@@michelangelobuonarroti916 no, they are not. What rock are you living under?

[@nro9450]

@@mirzaahmed6589statistically speaking, they are. Unless or course you have a ton of data points you’d like to enlighten us with

[@nro9450]

They’re never going to get lower, they’re just increasing slower again

[@MBarberfan4life]

​@@nro9450that's been happening for over a century. Why do we need the Fed when they are hurting us? "Take the abuse, spoiled citizens!"

[@samnater]

"Integrity is priceless. And in the end that was transitory for me."

[@danaschwartz2712]

Thank you!!😊

[@loupasternak]

The blessings of old age is ..... all this kicking the can down the road will be someone else's headache

[@keto6789]

"It's a BIG club .... and YOU ain't in it!!" George Carlin

[@pizza123425]

Actually you're in the club but at the bottom

[@2wheel_freedom]

@@pizza123425 We are the janitors 😂😝

[@peterdangelo5882]

Absolutely - miss him. He always said, just wait they will come and take your social security - its too expensive and we can't afford it. Hope he was wrong.

[@keto6789]

@@peterdangelo5882 ... "and now they're coming for your social security.... they want it BACK ..... and they'll get it too.... they always get what they want ! ...." George Carlin.

[@jaybird7534]

Powell did what he was ordered to do, freeze economy in an inflated price environment. He said it himself, prices won't come down unless there's a bad event, a Deflationary Depression.

[@philwindows6932]

Interest Rates need to be tightened further in order to crush the housing market. Assest Prices world wide are beyond reach for most people. Irrespective of huge debts being run by the government any reduction in interest rates may fuel housing again unless AI destroys middle management, and those jobs where people need to think. These tasks are relpaceable by AI. You will not need solicitors, barristors, judges for example.

[@maxwellcrocker20]

I'm really curious what Jerome Powell said from 1:53 to 2:03.

[@twelvecatsinatrenchcoat]

From the interview transcript: "We just wanna see better numbers going forward this quarter, aliens are real and Epstein was an inside job. Once figures have shown a consistent pattern moving in the right direction we can feel more comfortable adjusting rates."

[@randyrodriguez1445]

Smart observation

[@jackbannon5526]

Very timely clear cut, comprehensive newscast KUDOS!!!

[@David_Williamson]

The guy who edited the video forgot to add loud music over the already 2 people talking over each other. Great job👍

[@diabeticonboard6459]

Fiscal policy is not complicated: don’t spend more than you make. The Fed made it complicated. Probably intentionally.

[@Itsme-jv4cd]

Many of the groceries I buy every week have gone up by 50% since 2020 . My real estate taxes has gone up over $100 a month , my home insurance and auto insurance has gone up , my utilities have gone up ,my basic cable has gone up ,and my Medicare insurance has gone up. I'm getting a little more from SS but it sure does not make up for the increased prices. I'm retired. I can't make anymore money.

[@DJ-bj8ku]

It’s a hot economy. Prices go up when demand for things increase.

[@Unwavering137]

You could always become a greeter at Walmart. They love paying them low wages. Something is better than nothing right?

[@samlloyd672]

The cost of the worthless and pointless lockdowns. Vote Kennedy

[@TheSnoopy1750]

You realize your social security is indexed to inflation, right? SS was raised 8.7% in 2023 to make up for inflation of 8.0% in 2022. SS raised 3.2% in 2024 to make up for 4.1% inflation experienced in 2023 so you were made essentially whole for the inflation in 2022-2023. BTW, the U.S. inflation in 2023 was below most industrialized nations. Sorry to burst your delusional bubble.

[@film1201]

I feel you. Retired, seeming to be living check to check. Having to start a business just so I can build savings. This was supposed to be the easy days after a life of work. Due to what the Fed did with interest rates, a I’ve lost hundreds of thousands of dollars.

[@jackstonehenge]

I feel like this was a puff piece. What are the metrics? Home ownership out of reach? Record credit debt. Skyrocket rent. Car loan delinquencies? No mention of what role the stimulus checks played?

[@DJ-bj8ku]

Stimulus checks issued by Trump and Bush contributed to inflation but remember Covid was still running rampant and that money went to help businesses meet payroll and families to meet rent.

[@LadyLeda2]

Don"t forget the cost of food.

[@ricomajestic]

@@DJ-bj8ku I think you meant Trump and Biden!

[@MG-bf1zi]

The stimulus checks were NOTHING compared to all the PPP people got. You got a measly few thousand dollars. The owner of the small business I work for got $300k in PPP that was forgiven even though the company was doing even better during covid than before. Froget the stimulus checks, that's child's play

[@davidr4523]

Agreed. The media is a complete mouthpiece for the Democratic party. I do not know why the hate the Republicans so much.

[@randyrodriguez1445]

What a great, reasoned, calm confident show of leadership in a non partisan way.

[@devinmichaelroberts9954]

The problem is these price hikes killing everyone will not go back... inflation going down just means we wont see insane price hikes going forward but a lot of things are still really expensive.. like rents, housing, food in some places, gas in some places, goods etc.

[@bradyvanhoof51]

Gas Lighting at its finest…. The dude lied in the first 60 seconds of a 60 minute show

[@cactusabe696]

Major corporations are laying off thousands of workers. Strong economy????

[@radar0412]

Unemployment rate is lower than average. Sorry

[@aaronmyers9able]

When did car prices drop or decline prices for gas, food, are very high in California.

[@e5m956]

At least cars get better and you're typically getting a better product than years before for the money so it kinda makes sense for improving technology to cost more but homes, property, gas, and food is the same or worse so it doesn't make sense for most of those to increase in price.

[@davidpate6095]

“Integrity is priceless.” He’s right.

[@ralphjessee2688]

But . . .

[@roxymax8917]

Said by the leading member of Bidenomics

[@AR-rn8ok]

What integrity. Hes trying to tank the market and trigger an economic collapse. Fire this guy.

[@TheBrianthom]

​@@roxymax8917 it was Trump in charge during the Pandemic. In 3-4 years time from now that's when will see and feel the effects from Bidenomics.

[@TheBrianthom]

​@@AR-rn8okliterally not trying to tank the market. The market is not his job. Being financially responsible is. It's about time that investors and business owners start doing their jobs. Which is to produce products and services at better prices. Instead of complaining to their mums the politicians for sugar hits to run their business and cry like little babies when Papa Powell has to take the sugar away.

[@WiredForFishing]

As a business owner I can tell you, our economy is horrible.

[@UnknownASMR_]

Let the whole thing play don’t just pick on certain statements, because you basically just take clips and then change the narrative.

[@MBarberfan4life]

100+ years of reduced purchasing power. What a disaster

[@mebinici]

Bitcoin fixes the dying fiat...

[@theroldan8013]

capitalism baby dont cry

[@networth00]

@@theroldan8013 Capitalism is not printing $33 trillion and sending billions to Ukraine. Capitalism is not hiring 85k new IRS agents. Capitalism is not student loan forgiveness. I could go on and on.

[@theroldan8013]

sooo who is to blame.... putin? fidel castro ghost... please tell me@@networth00

[@onomatopoeia162003]

​@@networth00 From what I just looked up. We owe ourselves around 5T. And for the bonds that other countries buy, that adds up to around 7.4T. The rest I would have to look up.

[@andrewclark6618]

So for anyone watching, pay off credit card debt, save as much as you can, live within your means, and by all means DO NOT get a loan until 2025

[@seether07x]

My man forgot about refinancing.

[@SherryBittermann-hf1ok]

Good advice, but not complete...the obiden administration, (obama's 3rd term), is already trialing central digital currency. When the government forces the Central Digital Currency on all of US 🇺🇸 they will dictate what you can buy, when you can buy, and how much you can buy. They have every intention of enforcing the WEF's statement, "by 2030, you will own nothing and you will be happy"!

[@EP-yc2gu]

@@seether07x So, spend all your money on a high interest loan for a year of two in hopes that interest rates will magically drop. Then you can set thousands more on fire with refinancing fees…. Don’t quit your day job, sweetheart.

[@seether07x]

@@EP-yc2guassets are cheaper when interest rates are higher. Less buyers. Less competition. Not only cheaper asset but other terms are more favorable to the buyer. Historically when it’s “tough” to buy in retrospect it was the best time to buy because of the opportunities. No need to make it personal bud. Just discussing.

[@PDTRUMP]

Bi go!

[@FarzadDastmalchi-op2ud]

Other than eggs and milk, everything else has gone up 50%. A bag of groceries that was $13 last year, is now $19. Most meats have gone up 30-40%. And other than minimum paying jobs and UBER, what other good jobs are created? Presidents create new regulation and permits that punishes the mow and middle income, because they are the largest consumer of those items.

[@neil3304]

We are borrowing from future generations. At current rate by 2060, 1 million debt per US household - leaving our future and our children more stressed out than we are today.

[@cratecruncher4974]

We had a great economy in the '90s with 6% rates. This economy seems more than able to handle 5.25%. Employment report was huge on Friday. Don't expect cuts any time soon.

[@scottwhite8960]

But what was the debt to GDP ratio in the 90s??

[@SonofSons]

You sound like you would fit right in working at the Fed, constantly spewing out nonsense. The economy is in complete shambles.

[@1artillery1]

@@SonofSonsnot what I seen on Fox News they said the economy is doing better than expected

[@SonofSons]

@@1artillery1 pleaaaaase tell me you are being sarcastic 🥲

[@1artillery1]

@@SonofSons need a link?

[@MaxMax-hm1dj]

inflation is compounding, unless it is 0%, the price of things will always go up year over year. the problem is money printing.

[@Bmphotog]

Excellent work sir

[@derekfike1770]

Anyone else see in their report that they crossed out the statement “the banking system is sound”? We are in serious trouble and it’s because our government and financial system is severely over leveraged.

[@WillpowerCinema]

They literally crossed it out! Oopsie doopsie! :X

[@jeffreyrivers1983]

Wealth men allowing us to eat... thanks

[@theroldan8013]

they are sooooo mercyful.... you can take my kids as cannon fodder vic nuland I love you!!!!

[@fooleos]

I just wish I could afford a 1 bedroom condo without getting into a 100-year mortgage 😒

[@theroldan8013]

why a condo if you are cannon fodder for ww3 lol

[@johnneely907]

My lord, this guy seems incredibly intelligent. Keep up the good work.

[@TILB]

Rates NEVER should have been as low as they were for that long. Powell should have raised rates in 2018-2019 when people were purchasing homes 50k, 100k, 150k over asking on homes that never should have appraised at those levels. That was a CLEAR sign rates needed to rise to slow that down. Couple that with the 2017 tax cuts that infused cash into businesses that companies like black rock used to purchase homes to raise value on their portfolio at the cost of regular people. Then obviously the global shutdown. (Not just you in your state) GLOBAL.

[@Romulan112]

What is odd is that high rates make it harder for small businesses to borrow money. Big business has no problems, they just issue stock. Also, the Federal Government must pay interest on national debt. With a high interest, more of the people's taxes go to servicing the debt.

[@esousa486]

BINGO !!!!!!! Finally someone else "understands" it too 👍

[@jameswong3064]

As the IMF elites would say, “you will own nothing and be happy.”

[@antoniolyons2881]

We don't need to worry about government debt in a country where the government has legal authority of the currency that debt is issued. It can just create the cash needed to pay the interest.

[@radar0412]

Your money is going to the military and Medicare. Everything else is going on America's credit card

[@Romulan112]

What you are describing is what they do in Central and South America. I assume you are joking, no?@@antoniolyons2881

[@thedonkeyinvestor]

if the economy is so good why we need to cut rates ?

[@SoFloCo-ne4rk]

To get back to the neutral rate so the economy can be even better.

[@thedonkeyinvestor]

go back in history find a time where 0% is neutral rate ,@@SoFloCo-ne4rk

[@bubba6989]

​@@SoFloCo-ne4rk cutting rates in a good economy is foolish. It can reheat the market to possibly overheat it (ie inflation again) and it leaves little room to spur growth

[@DJ-bj8ku]

@@bubba6989At least you admit we have a hot economy. Rates would be cut in anticipation of a slowdown.

[@SoFloCo-ne4rk]

Right. That's why the Fed isn't going to cut rates until they're sure inflation is fully under control.@@bubba6989

[@RusuSilva]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stocck portfolio.

[@FusunTumsavas-cq7tp]

The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.

[@RossiPopa]

I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than $600k within just a year, and I've entrusted my advisor with the task of determining entry and exit points.

[@RichardMoore-jg5tl]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@RossiPopa]

Christine Ann Podgorny is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@RichardMoore-jg5tl]

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@gotraderpros]

This is the most a reporter got out of Jerome, he still talking in circle but great job over all Scott!

[@stephenmcloughlin1965]

Unemployment is a lagging indicator. Give the layoffs time .

[@mirzaahmed6589]

Yup

[@tboughnou]

All the data they use is lagging... by definition data is backward looking. Thats why the FED is always "late" moving up or down on rates!

[@chova1123]

Right, keep your eye on weekly jobless claims

[@AR-rn8ok]

Powell is the epitome of being reactive and not proactive. Expect him to lower rates too late.

[@realLoganMoody]

I will revisit this in 6 months. Jury is still out and Fed's policies have a lagging effect, anywhere from 1-2 years!

[@andrewgeissinger5242]

It seems that even the Fed forgets that there is a lag.

[@jefft6038]

3 years is the average time it takes to see unemployment really tic up and credit events to start....that puts us at around Feb-March 2025. no way we get out of this without major pain

[@wiseguysmith6519]

agreed, the yield curve hasn't even un-inverted yet, and that is when things get ugly

[@FlyingMonet]

Remind me! 😂

[@LemonySnicket-EUC]

The new jobs are actually mostly old jobs that people finally came back too.