Fed Chair Powell Speaks to David Rubenstein (full interview)

Federal Reserve Chair Jerome Powell says further rate hikes are needed to cool inflation. He also talks about the process of coming up with monetary policy, the jobs market and how much he makes in a year. He speaks during an extended interview with David Rubenstein at the Economic Club of Washington. Rubenstein is also the co-founder of Carlyle Group Inc., where Powell formerly worked, and hosts an interview show on Bloomberg Television.
#fed #federalreserve #rate #inflation #bloomberg
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[@Emily-le2op]

We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.

[@Nowshad82]

Keeping aside my critical views, this is a very good insightful interview. J Powell has a tough job, and his eloquent speaking has helped him greatly in the process.

[@karanr7569]

What process?

[@Nowshad82]

@@karanr7569 in the process of managing the market perception and conflicting interest.

[@superfluous5162]

bro he control the tab of money .

[@bradleyqueen3879]

Powell has failed, along with the fed and our government to spend, borrow endlessly. We're paying for their incompetence. I see no redemption for any of them.

[@LAStreetPreacher]

@@karanr7569 Is James Powell another puppet of the global elite?

[@Learner4FunLifePersona]

Thank you for making Mr Rubenstein’s interviews public

[@RP-tt5uk]

This is very informative to watch. Surprising no one asked these questions before to a fed charmain.

[@takoflame4948]

ask and never be invited again

[@thetimetravelerszen]

I want to hear more from Mr. Powell. Being in stressful job, he hasn’t lost sense of humor. I like the questions as well. Most of common man’s concerns are asked.

[@ronmiller6270]

Powell, like most Fed Chairs, seem kinda stiff, but this interview was enjoyable. Safe to say, I like him. :)

[@beglight]

David is an incredible interviewer. He knows exactly what to ask. And it's a pity that this video doesn't have millions of views.

[@justinlinnane8043]

perhaps because he asks none of the difficult questions about recent profound developments in the world economic system ? this interviews is for the great unwashed morons not for people who know whats actually important

[@SwissJacques1963]

David is really incredible. But in a bad way. He does NOT accept, that Powell does not accept that the FED will give no answer on market speculations.

[@michaelthomas1993]

It's insane to me that someone in such a powerful, prestigious position is paid such a small amount of money relative to responsibility.

[@VictorF0326]

Its insane to me how this sounds like a commedy show

[@bobcruz2826]

He doesnt need a salary. He controls the ultimate cheat sheet. He knows if markets will go up or down.

[@screugneugneu1]

they have been paid to create inflation, seems overpaid to me

[@tomateeee33]

Small amount? they literally dont crate a single job. This work is vocation not well paid. Every parasite working in government or fed need to be paid basic salaries.

[@thetimetravelerszen]

If you pay more, they can’t understand common man’s problems. They will only worry about con man’s.

[@jeffnoob8448]

Such a good interview. Well done !

[@justincrasi4638]

thank you great interview!

[@JBlandie]

Yay! Great interviewer and great interviewee. So psyched to watch!

[@craigcolbourn8351]

Jerome has a voice of honey, doesn’t he? Man, they know how to pick ‘em 😂

[@ReidCipriani]

Great interview, great information

[@bigbubble662]

lmfaooo is this where you get your info?! yeh inflation is transitory

[@sebastienmuller8719]

They are going to continue raising the debt ceiling and the rates as well. Work reports are too good.

[@Chessmapling]

@@bigbubble662 I'm sure you have an informational edge that you're making a lot of money from

[@patrickH206]

"What is the salary of the chairman of the Federal Reserve Board?" "It's around 190,000 dollars, I believe" "You think that's the fair salary for the job?" "I do"

[@manpreetsran4667]

Are you lost. This man controls the global economy. Trillions of dollars are under his control. His is bribed and controlled with billions to his pocket

[@jessicaye4312]

Insightful interview. Really appreciate the straightforward and no bullshit questions and answers!

[@cranberryeater7459]

Powell speaks with Rubenstein, Rubenstein speaks with Biden. Independent? In what world would that be?

[@BenDover19959]

11:07 why is the debasement of our currency a joke to this crowd?

[@5600hp]

I think Jpow is very thoughtful and sensible. I feel like soft landing is still a possibility as opposed to recession as so many are predicting.

[@dkutagulla]

Outstanding interview and information. Very analytical and cogent explanations

[@8vI]

its so sad that so few people watch interviews like this.

[@METAN0L]

lol, what a clown comment. It's actually AMAZING to see people like Powell is being labeled as "financial terrorist"

[@nellyfrittata8319]

Those are the kind of people who think the president controls gas prices

[@CDBesetsny]

🙄Is it? Macro Due Diligence doesnt need to hear the Jaw Bone to know what the two hands already have written

[@nellyfrittata8319]

@C.D. Besetsny a lot of nuance is lost in text. Also, the average person ought to watch things like this so that they actually understand how our institutions work, regardless of whether or not they're in the markets.

[@kenkclam]

It’s so sad that so few people decide such an important topic as money supply and rate for the country

[@thatisabsolutelykooooge2211]

Thanks guys.

[@two-zero]

Thanks for sharing this informative interview

[@micahperezii9941]

Good interview, but he should have questioned Powell for raising interest rates too late. I wish there was more talk about the housing market and affordability issues for first time home buyers as well.

[@johnd3124]

what would be the point of asking that question?

[@akshayhagaragi]

Its indirectly answered, they raise rates based on the data and committee, not on predictions. And data is slow to come. Perhaps they are lagging indicators. They don't control fiscal policy.

[@cashflowyield]

Thank you

[@VAVAVOOMPromotions]

Top interview. Insightful questions covering the full gambit of the FOMC.

[@aminesaib]

As an investor, gaining insight into the Federal Reserve's thought process through comprehensive interviews like this one can aid in informed investment decisions. It is not necessary to rely solely on financial analysts.

[@TaoDeChing-ls5gz]

Lol you actually think the Fed board is making the ultimate decisions about monetary policies?

[@xrpkidotec520]

As an investor you should know then that when the fed speaks it is too manipulate the market. To get people to react to there words to get investors to do something based on the speech so that the fed doesn't have to do what is needed.

[@defaultname7685]

is this a scam thread

[@junho3121]

Stop simpin. This is just one billionaire scratching (Bloomberg) the back of another (Rubenstein)…

[@Stop-loss-BoSS]

THERE BROKE MY GUY

[@jaimeduncan6167]

He said that he is happy that jobs are doing fine, but at the same time, he is going to act if the job market continues to be a good one. In other words: look at what they do, not what they say.

[@cicatrace]

Unemployement numbers only count for people actively seeking jobs. IF 5-10-20% of the population is no longer seeking to work at all because their lifestyles changed during the pandemic, it won't show up on these charts. So basically their measuring stick is broken.

[@raymondlindsey298]

WTF is everyone laughing about? We are 31 T in debt and Tax payers are paying it down while the fed keeps printing!!!

[@Discovery_and_Change]

1:11 Disinflation has begun in the "goods" sector, which is about 25% of our economy 1:21 "Services" sector (except for housing) isn't showing disinflation yet 2:08 The labor market is still extraordinarily strong 5:10 19 people are in the FOMC, but only 12 vote

[@305dreamhonda]

What is your point?

[@wymandyer6261]

this should be shown in high schools across the land, be discussed and short tests given

[@arigutman]

One of the best interviews, very interesting for our times and investors should be tuning into this as we move about 2023..

[@paulattaboyatreides6414]

Shout out to David for trying to get the most out of this interview 😂

[@geebskerbal2771]

do the jobs numbers account for people working more then one job? if more people are working more then one job just to get by, does that mean the policies might be changed on false (for lack of a better word) jobs numbers or does that make enough of a difference to matter?

[@RealeaD]

Interesting point. Is it a fact?

[@INTO-CRYPTO]

Well done to both!

[@iftycent]

It's funny what the audience finds funny in the questions and responses!

[@torso99]

its a group of elites and they understand the rigged game.. you cant just answare the question with a direct easy to understand

[@phanviet65]

190 grands per year? it's quite low for a charman of Fed

[@superfluous5162]

that penny for the person who control bank of banks .

[@eanerickson8915]

Central bankers make their money before they take the job.

[@iwishiknewhowto1228]

Don't worry he has inside trading

[@InJunoWeTrust]

@@iwishiknewhowto1228 no he doesn't. Did you even bother listening to the interview? Quit getting your information from wsb and stocktwits. Educate yourself.

[@danielottenwalder3945]

Benjamin Franklin

[@arunavadasgupta2147]

We are into Globalisation Century Hence Paper less Budget Is Expected Do you know Green Budget What is Blue Economy ? Kindly Answer

[@JimMcCalsky]

Such a great interview.Thank you so much for posting this.

[@bostinbybit]

Lit and Bussin' interview 🔥🔥🔥💯ong Dr. J Is Tha King of Tha Dolla!

[@nathanhaynes2856]

The uh, laugh track seemed inappropriate.

[@mdmssb]

To all, If U've face colour changes(radiactive waste yellowish or black carbon face)/ eye swallen(kidneyweak)/ white hair(radiactive waste/too much face hair could be because of Alcohol water pipe disturb/ CHEmical waterpipe disturb/Air cond external part disturb. USE own old cloth100%cotton2add additional layer 2water filter/air filter/air conditionner filter or fan checking.Wash filters frequently,whether is home office cars air cond/ water pipe.Becareful car parts water tank or tanks is disturbbed if u lostHomeofficecarkey Any1 has lips in black colour or bridge of the nose is in black colour or face green black means U are exposed to poison air could be chemical or anethesia or antibiotic from air. Remedy:Eat detox food to flush out poisons. Use big magnet or good big speaker to despise radiactive waste. everyone :Becareful if people have stomatch bloating issue. It could be from food or drinks or air conditional from home,office,car if you lost own home offce car keys. IF U've air conditional external part becareful on those air pollutions attacks.Test food or drink

[@michaelleffler5219]

Re-shoring and near-shoring will keep the jobs market robust for some time into the future. Disruptive technologies are starting to come into bloom creating a change in the job landscape that is unprecedented. The days of globalization at domestic expense are coming to a close, and it's showing up in the numbers more and more...

[@eljefe5858]

Bingo!!!. FED can not make a soft landine for there will be coming more and more companies to North America, over heating the economy. Not going ti end well at all.

[@NELLY138]

Thanks

[@LT-qg3vv]

The obvious shift in Powell's tone and body language when talking about his interactions with the current and former president is worthy of note.

[@thestockfother]

How so. The current president has his coterie running things without him. So theyre interacting with agencies and ngos likes the fed, not him

[@josephmunro7768]

The 180k per year part at the end got me haha

[@NipponStiqqyPaint]

That’s what the kids call “getting dabbed on”

[@jarrodmagnusson4101]

lets not talk about how much money he makes from insider trading from stocks.

[@markreppert2309]

Great interview, dedicated public servant on full display

[@chrisd2193]

fantastic interview! just some takeaways the guys on CNBC need to watch this so they can stop with their rate hicks are done and the market is rebounding. Powell is very clear it's 2% and that's it..

[@jeremywoodsonloanofficer]

You said the housing services sector is showing disinflation but CPI just updated shelter costs (and other housing related measures) to a 40 year high.

[@silencenhikes6692]

Can somebody tell me what he is talking about when he says the industry that makes up 25% of the US economy?

[@ditoiuc]

Congrats on David helping Mr Powel to be less stressful :) At one point i could feel his anxiety

[@AaronClancy]

We are very lucky to have him.

[@beemdude2]

What an outstanding interview . Jay Powell is so articulate and immaculate in his responses. Respect !

[@red149]

Yes so much respect for someone who keeps screwing middle class

[@compresswealthdivideeconom3757]

To those who think this was a great interview, read this and my other comment. There was no direct question about having inflation at zero percent and there was no mention that government tries hard to lie to the American people about the actual inflation rate. Per the 1990 methodology at present, the actual inflation rate is about 4% higher than claimed. What the Fed has been doing over the past 14 years has been an egregious wealth dividing program.

[@evelynramos445]

Applaud him!

[@escapefelicity2913]

In an interview a few years ago he said he wouldn't bet agaist America. As him how much of his net is offshore.

[@karfeelye9942]

Need someone to enlighten me. He keeps saying the housing and rent need to deflate, while the mortgage rates are skyhigh, how can he expect people to lower those prices? For rent specifically. If my mortgage rate is this high, I would increase my rent to compensate that

[@9048560]

I love how he keeps referring to "softening" instead of just being real and spelling it out for all the Americans who actually want to know the truth.

[@justinjones5281]

People who have high debt will suffer the most.

[@shadow_realm47]

Fed is hawkish, as has been the case since the career politician took office. It was dovish when the business man was in charge.

[@willholliday3537]

​@@shadow_realm47speaks to itself when he says he had calls with trump but 0 with Biden.

[@marcela9466]

I like his honesty! His funny too 👨 I like him

[@enriquebecerra9542]

The same question for 35 minutes is a missed opportunity to learn more about Jay. David is a great interviewer I watch most of them and read his latest book. I don't know why on this one he did not broadened the scope. Specially with a guy he knows well, Jay worked for him at Carlyle for like 10 years.

[@johnd3124]

theres only so much you can ask the Fed Chairman .. he wont reveal too much

[@ryanarmendariz8003]

@@johnd3124 well I think the point is they could have discussed more of his pre fed background more

[@reich5150]

The Federal Reserve Act of 1913 says it will back each Federal Reserve Note with gold. They don't do this. The Federal Reserve Act of 1913 says that bankers are to be held personally responsible if they fail. They are not. The Federal Reserve Act of 1913 says if a Fed bank is insolvent, it is to become the property of the US. It doesn’t. The Federal Reserve Act of 1913 says that insolvent Fed banks shall forfeit their shares in their Regional Fed. They don’t. The Federal Reserve has 3 mandates -people now only talk about the dual mandates, which are 2% inflation and low unemployment-the third mandate is to keep long term interest rates constant. They don't do this either. Why do we have a Federal Reserve again?

[@cortlandjdmayberryshraderm9619]

What we really need is to increase our labor force participation rate it's still lower than what it could and should be and it is what making our unemployment rate appear so low they're still many sideliners you need to be enticed to return to work

[@TheXV22]

How could one man have so much power over the entire world's economy?

[@davec3974]

Why would the Fed board not be allowed to own individual stocks as opposed to broad market indices? Fed policy is about the macro, not individual companies or sectors. If anything, they should only be allowed to buy individual stocks (after removing exposure to market Beta).

[@galanoth17]

$190k salary for Fed Chairman? WTF! A fresh out of college software engineer makes that at a FAANG company. That salary is too low given how impactful this position is on finances of others.

[@ashsharp1985]

Inflation has begun LOL. Water and coconut water cost me $30 and these wizards say inflation is at 6%

[@Stop-loss-BoSS]

We will not tell you anything on how corrupt we are because that would look bad.

[@fritzcharles5125]

Tackling inflation with a strong hand and remaining immune to political pressures requires a very strong personality . Jerome Powell alas does not come across at all as such a man .

[@Stopinvadingmyhardware]

Fine, I will publish the materials for you.

[@smeff099]

7:05 the fact these people are publicly pushing an increase in the standard is scary. Instead of a 2% global tax on people, why not a 3% global tax? Because that 3% tax just keeps increasing, as it did from 0%.

[@daji1952]

fomc full form?

[@ArChi285]

greatest money counterfeiter in the world.

[@Elaba_]

It began with a small increase in prices - a few cents here, a few dollars there. But soon, inflation began to spiral out of control, unstoppable and unyielding. At first, people tried to adapt. They cut back on expenses, made do with less, and tried to weather the storm. But as inflation continued to climb, it soon became clear that these measures were not enough. The cost of living became unbearable, and people were forced to make impossible choices. Do they pay rent or buy food? Do they pay for healthcare or keep the lights on? As the situation grew more dire, some turned to crime, stealing what they needed to survive. But even crime couldn't keep pace with the rapid inflation. Prices continued to soar, and people began to lose hope. Some took their own lives, unable to bear the crushing weight of financial ruin. As the government struggled to reign in inflation, they turned to extreme measures. They printed more money, hoping to stimulate the economy and bring prices back down. But it was too little, too late. Inflation had taken on a life of its own, unstoppable and unchecked. In the end, inflation consumed everything. It devoured the economy, destroyed livelihoods, and left nothing but chaos in its wake. And as the world descended into madness, the unstoppable force of inflation continued to rage on, a monster that could never be defeated.

[@roberttaylor662]

Last year, the Fed raised its benchmark interest rate seven times, from zero to a range of 4.25% to 4.5%. The Fed's policymakers have projected that they will keep raising their key rate until it tops 5%, which would be the highest level in 15 years. As borrowing costs swell, fewer Americans can afford a mortgage or an auto loan,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?

[@dffrnttd9474]

Yeah markets haven't been deeming the Fed's guidance that they will maintain high rates regardless of swelling debt costs in order to control inflation as credible. I woulld underweight stocks for a little as the market begins to correct because honestly I still think stock prices are massively inflated at the moment.

[@ronmiller6270]

Something that gains interest. Won't be much. But, better than paper losses for the foreseeable future or don't touch it. Markets will probably flatline for a couple of years.

[@alexstraz]

I wonder if they are counting how many jobs that are being worked are people with two or three jobs just to make ends meet.

[@freedombuilder3675]

End The Fed!

[@evelynramos445]

Central bank in Europe as well

[@zuokakarta]

This interview did not age well, did it?

[@jayt696969]

Price stability target: no flexibility Employment rate target: it is what it is

[@superfluous5162]

superboss of bank of banks , i wonder how much inside trade he did .

[@pmapires]

I've been optimistic about inflation since last Summer but if CPI ticks up to 0.5% MoM given that last CPI was revised from -0.1 to 0.1 this market needs a blood bath. I'm forecasting money velocity increasing which reveals how bad monetary policy was during 2020/21. The FED needs to do whatever it takes to talk up the dollar and continue crushing oil and commodities in general.

[@deeeeeeps]

Most powerful man on Earth.

[@Hambastegy]

🙏

[@orangemanbad]

Must be weird for Jay being interviewed by his old boss

[@Patrick.investor]

190k salary

[@Maximus.diamond.hands.]

worth every penny?

[@nettracher]

Hahahaha he's not doing that for the salary.

[@method341]

The question is, what will he be getting AFTER his time at the Fed?

[@sk1797]

and he can control trillion dollar moves in stock market :)

[@ednan9]

Every thing is paid in perks- so $190k gets hardly spent

[@xrpkidotec520]

Why are people laughing. Fed ratings affect people's livelihoods.....

[@BigDogRoy]

More people have to work because of high prices, which explains low unemployment. additionally people are working for cheaper dollars and paying more taxes. Therefore, the middle class is taking it in the chin and paying the bills. The f*ck? Additionally, I want to see how many assets the fed members sold before slamming on the brakes. I’m also curious to see if they are shorting the market at all.

[@zm35r2bn]

If any of them wanted to be transparent they would teach us all of this in school because we don't have the money to go to the big huge colleges

[@Andylishioustunes]

I like how no one asks the PEOPLE, why they are leaving and not coming back. And instead of tackling that, this presenters solution is 'fill the jobs with foreigners'. People are leaving because 1) Pay is terrible and costs are rising 2) Management is often corrupt 3) Choosing work from home jobs because fuel costs are so high. If we can address these issues, maybe we'd have a functioning economy

[@arunavadasgupta2147]

One Ex Federal Bank of USA Chief And Two Chicago Economy Proffessor Did Reserch On Banking Reform Received Nobel prize 2022

[@AlienEntity1]

btw the Fed chairman makes more than $190K, it's around $226K, which incidentally is about 18% inflation if you want to measure it that way. (Irony) But he's also worth between $20 and $40 million bucks, so he could work for free and still have a huge pile of money most Americans will never see in their lifetimes. He will never feel the pain of the little people who pay his salary.

[@arunavadasgupta2147]

Should I Filled Case Against You Sir Transfer Immediately To Bank account

[@d7seven]

Lol this guy David is amazing

[@evelynramos445]

Gaging a global economy not just US!

[@malita354]

Ya, we believe

[@reich5150]

Changes to the federal reserve act? how about actually doing the things the act says it should do like backing the notes with Gold... Reform is coming.

[@MRMT2000]

Real Estate MUST come down

[@mousquetaire86]

That was interesting; I initially thought "I don't want to hear a billionaire talk to a financial elite" but I was pleasantly surprised.

[@thejuicerr]

He's not a billionaire

[@mousquetaire86]

​@@thejuicerr Rubenstein is a billionaire; Powell is a member of the financial elite.

[@safol123]

Rubinstein is & Powell is a multi millionaire

[@thestockfother]

Neither of them are billionaires. You probably have a network equal to them lol

[@davids4451]

WHO owns the federal reserve. WHERE does it's money come from? Taxpayer or Owner or Debt?

[@alidel2934]

Great

[@jonathanzhou4371]

Mr. Powell's reason why setting a 2% target rate is not convincing. The world has changed, and some of inflation attributors are out of Fed's control. A historical gauge of 2% is no long effective.

[@CJ-mt6zd]

So much love for J Pow. I don’t get it. This must be a thread of homeowners, landlords, and business owners cause everyone else is struggling more than ever.

[@nkk1793]

looking at the comments here, seems to me a lot of people don't realize that the actions of the federal reserve are unconstitutional