Fed Chair Powell: Holding interest rates too high for too long could jeopardize economic growth

CNBC's Steve Liesman reports on Federal Reserve chairman Jerome Powell's prepared remarks in front of the Senate Banking Committee. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/42d859g
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[@Ultrajamz]

Can only delay the crash with juiced up govt hiring for so long

[@joefortune98]

Fed Chair Powell just testified before the House, and the stock prices plummeted. It's incredible how much influence one person can have over the entire economy. As the head of the Federal Reserve, Powell's words can send shockwaves through the market.

[@JimRex-sf8bt]

Absolutely, his testimony can affect interest rates, inflation expectations, and overall market confidence. If the market perceives his statements as negative or indicating tougher times ahead, it reacts almost instantly.

[@sarahbanes823]

That's why having a good financial advisor is so crucial. They can help you navigate these turbulent times and make informed decisions. I remember last year when Powell hinted at interest rate hikes. My advisor, Desiree Ruth Hoffman, had already warned me and adjusted my portfolio accordingly. It saved me from a lot of potential losses.

[@amibue900]

Desiree Ruth Hoffman? I've heard a lot about her recently. People say she has an uncanny ability to predict market movements. With everything going on, it's reassuring to have someone who can give you a heads-up on what's to come.

[@fromthebirchwood]

The Fed's talk of interest rate cut leaves me pondering what stocks to buy now and when do I sell? I'm unsure how to properly allocate my money to achieve an optimal portfolio in this present economy, my goal is $3m for retirement.

[@arlenehill4ril]

navigating market volatility can be challenging, it might be beneficial consulting with an advisor to provide personalized insights based on your specific situation and financial position

[@Charlesman_T]

True, I always emphasize the significance of having an advisor. This has kept me afloat since the covid-19 outbreak and as of today, I'm just about 10% shy of my first million dollar after subsequent investments.

[@MAnderson5]

@@Charlesman_T nice one! who is the professional that guides you please? enthused about investing for my eventual retirement but dont know how to go about it, for now I only invest in my 401k through my employer and gains are quite slow

[@Charlesman_T]

Karen Lynne Chess is the licensed FA I use. Just google the name. You’d find necessary details to work with and set up an appointment. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@okaydamian]

insightful comments, curiously searched Karen Lynne Chess on the web and at once found her page, no bs! she seems impeccable..

[@user-ol7tl1vf5m]

Imagine I make a pot of bean soup meant to feed 50 people, enriched with plenty of beans. Before serving, I scoop out a significant portion of the beans for myself and then add water to bring the soup back to its original level. This diluted soup now lacks the same nutritional value it initially had. This is a roundabout way of illustrating how the fiat monetary system operates today.

[@paperchase906]

The us economy is a joke it’s horrible Americans struggling

[@joefortune98]

Secure your future with the digital asset space and Quantum World

[@renitacatoggio]

With around $120k invested in Palantir stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.

[@larraine-y2o]

Prioritize two goals: strategically buy stocks to limit losses and maximize gains, and be prepared to capitalize on market shifts. Consult a financial advisor or professional for personalized guidance.

[@renitacatoggio]

@lanchovanec Please can you leave the info of your investment advisor here? I’m in dire need of one.

[@renitacatoggio]

@lanchovanec I will give this a look, thanks a bunch for sharing.

[@DK90ing]

Lmao “you” are funny

[@robjer2889]

Powell is being put in an impossible situation. If he cuts rates too soon, inflation will kick right back up but him keeping the rates as high as they are will crush the economy.

[@robf5374]

Too late to stop the on coming crash, you can't catch a falling brick by holding out a tissue.

[@STACEYWORMACK]

They are trying to hold off, until after the election to raise rates. But, they may have to raise them in September, because the keep "adjusting" employment numbers.

[@Seanpfree]

The FED never moves in time, they're always late and their 1st impression is usually wrong.

[@williambudd2850]

its time for the fed to raise rates again because inflation has not come down as far as it should!!!

[@elaine1743]

I agree with you. No one can afford anything. Doesn't matter at this point.

[@elaine1743]

Reminds me of the 70s and 80s....inflation will take off and a recession begins no matter what interest rates do. Everything too expensive for anyone. LOL

[@abgzulkifli]

We know something good happens, they played wait, its cheating, this time no way

[@abgzulkifli]

Inflation is not a financial things, its people businesses

[@abgzulkifli]

Half a million everyday, I still remember Wow

[@tuber6382]

Geez why isn't he lowering rates back to zero then???

[@navnathbhadale8876]

Please update me tomorrow indian share market update prediction

[@dons3073]

That’s the idea Powell you should retire byby

[@joshlin8642]

Arthur Frank Burns 2.0

[@furthermoreproductionssall6448]

Need to start cutting rates Asap