Federal Reserve Chair Powell testifies before House financial services panel - 7/10/24

Federal Reserve Chair Jerome Powell testifies on Capitol Hill before the U.S. House Financial Services Committee on Wednesday.
The appearance comes after Powell appeared before the Senate Committee on Banking, Housing, and Urban Affairs on Tuesday. There, Powell said U.S. economic growth is still solid but acknowledged that the central bank now sees the economy as having the two-sided risk of rising unemployment and inflation that is still above its 2% target.
"Reducing policy restraint too late or too little could unduly weaken economic activity and employment," Powell said Tuesday.
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Federal Reserve Chair Powell testifies before House financial services panel - 7/10/24

[@Stevierockie]

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.

[@Stephenrogzyyy]

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.

[@JimRex-sf8bt]

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.

[@pengily_emi]

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.

[@Stevierockie]

Yeah, she’s been fantastic for my investments too. When Powell's testimony today hinted at a possible economic slowdown, she had already positioned my assets in more defensive stocks and bonds. It's about being proactive rather than reactive.

[@Stephenrogzyyy]

It’s not just about reacting to the market; it’s about being prepared for different scenarios. A financial advisor like Desiree can provide that foresight. When Powell speaks, he’s essentially providing a roadmap for where the Fed thinks the economy is heading. Understanding and acting on that information can make all the difference in your financial health.

[@dogegamer3288]

So basically almost nobody from Congress gives a rats about attending this critical meeting. The place is empty. Shameful.

[@tiamat_023]

It’s a committee meeting, keep your pants on. 🙄

[@Dr.Weed8]

Yeah they’re too busy trading NVDA stock to care.

[@cjgazerro622]

There’s a vote on the house floor I’m not defending them I’m just saying, I know there’s a vote going on

[@marzv888]

Powell deserves a raise, he has one of the hardest jobs trying to satisfy the poor, corporate greed, greedy banks and investors, middle class, rich, and slimy over spending geriatric politicians! Don't get how they're grilling him when these house people are spending like a teenage girl with a AMEX black card. Powell is trying to tell you that jobs are still strong and we're still spending ridiculously. He keeps giving us clues but we're just not listening, we love plastics and just junk.. Merica

[@larrybuller4707]

Look at the Jobs report, most are part time jobs or government jobs…at least do some research and not just spew the Democrats lies to Americans…

[@sucim]

54:00 LOOL "So eliminating the FED is best for promoting economic stability?" "YES"

[@realestatemindset]

I'm on it 🎉

[@kylephipps1078]

Yeah, the MO rep didn't know what JPOW was saying and apparently JPOW didn't know what the MO rep was saying lol

[@pootsplasencia4846]

​@@realestatemindsetbrooo you are everywhere

[@miamianz]

At this point yes ive been through 6 economic collapses

[@Lombardi54]

I had to listen to it twice to catch it 😂. Nobody heard anything clearly on the last part. It was like Mr. Magoo interviewing Mr. Magoo. I respect those two well meaningful men but that glib was my favorite!

[@1996ivang]

If Ms Waters ever has a problem in public office, she will be able to take up a job as a comedian. That'd be a better use of her talents

[@tortreform9478]

Listening to that lady talk makes me wanna go buy one of those 25 year shelf life emergency food kits from Costco.

[@0monroy]

I believe it's important to consider the age of individuals serving in the Senate and in Congress. Perhaps we should explore implementing term limits to ensure that representatives and senators can bring new perspectives and ideas to the table.

[@tortreform9478]

@@0monroy Term limits would be tough but I think everyone can get behind an age cut off. It could be that you cannot serve of you hit the us life expectancy of 77. A good comedic irony would be that you cannot serve if you meet the set age for full social security retirement benefits.

[@0monroy]

I agree, but the cutoff should be 60. We need a younger influence to challenge our administration and remove the stalwarts of authority.

[@tortreform9478]

​@@0monroy Yeah younger would be better but i just think the number has to be derived from somewhere for it to be argued properly. 67 being the retirement age for Americans seems hard to argue against. 30% of the senate are older then 67 and about 15% of the house are older then 67. That 30% and 15% are probably the ones calling the shots realistically.

[@mickeyslaven]

I couldn’t even make it through yesterday’s. They keep saying the dumbest stuff imaginable just for the camera. Not even asking him legitimate questions.

[@bjnowak]

This is the first time I’ve ever watched one of these. How in the world does anything get done?

[@stevenbeenaware]

These people are corrupt. The Fed needs to be abolished. They have never been audited.

[@mickeyslaven]

@@bjnowak welcome to the club, nothing does get done lol.

[@shawncanon9028]

I’m just confused how they get to walk out during a meeting.. Any other job you would get fired how is this allowed

[@amansyed9552]

wait what happened, reference?

[@stevenbeenaware]

Don't be confused my friend. It happens because they are corrupt

[@marzv888]

Ms Waters LOL

[@user-jz8bv7dh7k]

What a waste of salaries

[@loveline7305]

A crowd full of goofies asking idiotic questions....God bless America

[@bjnowak]

Who votes these people in?

[@dmtd2388]

Jerome is accumulating new printers for the new presidency for the last 4 years hes hobbies are printers

[@jackie-sd6lc]

this is what happen in real world: A student interviewed by C student, like all the time in job market

[@slasherfreek]

Mr. Green is such a hater.

[@jwb4bb]

53:38 - Powell agrees that eliminating the Federal Reserve would promote economic stability.

[@larrybuller4707]

Who votes these people into office…

[@bjnowak]

Wondering the same thing

[@stevenbeenaware]

Corruption at the highest levels of government

[@ytrabbithole6893]

Yes, the economy is doing great, average young American can't afford a house anymore...

[@samuelpanning764]

Chair Powell is an honorable leader with a good balance of empathy, pragmatism, and perseverance

[@stevenbeenaware]

The federal reserve is corrupt. They never have even been audited. He is a part of the problem

[@lsmitty8839]

😅 inflation up well over 40 % not sure what world they are living in FJB , morg rates have tripled in 3 years !!!!

[@mohamedyusuf3400]

F$$$ Joe Biden. Worst economy for a teenager such as myself to prosper in

[@MrXceller]

what does this have to do with economics?

[@larrybuller4707]

We dont need a law or DEI..Hire the best people regardless of there background, or color..

[@zenx28]

2:08:45 is all you need to know on why the economy is in the trash

[@RobertRituaRealEstateGuide]

Mss Waters, the Fed raise and lower interest rates to control inflation, has nothing to do with Diversity and Inclusion. The monetary policy does not discriminate. Money does not discriminate. If a business need to downsize, in a recession, they will need to lay off some of their workforce for the business to survive in those challenging times. Diversity and Inclusion in this case will bring the the company down if you're going to mandate the company to keep their workforce in those challenging times. If the company closes, they all will be unemployed. The monetary policy is a balancing act the Fed needs to deal with.

[@0monroy]

Ms. Waters always seems to seek out policy in the midst of the fed. Why os she even discussing Project 2025. Whaat was her point? Bravo Jerome Powell.

[@momof2souls614]

WHY WASN'T HE SWORN IN?!?! It's hard to have and keep anyone accountable without being UNDER OATH!!! WHAT THW CRAP!?!?!?

[@edwardloomis887]

I salute Ranking Member Waters in her first committee hearing as head of the Whig Party.

[@chaunceyhart1346]

Where’s Ron Paul when you need him! These people don’t have a clue about anything.

[@Richard_Martin]

Chair should have ruled on the point of order, in general this is really sad to see they have no idea what they're talking about

[@user-ol7tl1vf5m]

If money ceased to exist, human ingenuity and drive to build and innovate would persist. Throughout history, innovation and progress have often stemmed from necessity, curiosity, and the desire to improve our lives, not solely from financial incentives. Communities would likely find new ways to exchange value and resources, ensuring that creativity and development continue to thrive.

[@Scorch428]

my God that camera woman behind Powell in the first half is gorgeous...

[@anam.caballerowilson9421]

Ha ha ha empty seats like emptying the Feds

[@JahBreed]

Its what the people want.

[@Spacedecorator1]

Done with both democrat and Republican BS of blaming each other for inflation but doing nothing at all.

[@larrybuller4707]

It’s about the best Talent.. This women is crazy…and doesn’t know anything about the economy

[@abgzulkifli]

Free pizza for everyone

[@mohamadborzoie3384]

Mr Green Are You?

[@marzv888]

Min 51-54 please skip it's just another one that's to old and should retire already..

[@JohnSmith-t7g]

soft landing possible?

[@ATLFUNKCARTEL]

You can’t just “wipe out” student loan debt. You just increased our deficit by that much.

[@taranjitsingh2714]

Buy gold stocks…look for Q2 blockbuster earnings with high gold prices…gold stocks will skyrocket and not to mention interest rates coming down further fueling prices!!

[@MoneyyManFX]

That camera girl behind powell is fine 😍😍

[@0monroy]

Mr Green: Was ridiculous in his motion.

[@garymcmillan6943]

What normal people would say after both sides opening arguments would be : You both just lied and you are completely absurd.

[@Doomtasticness]

bruh

[@miamianz]

Everyone os goverment should be making minimum wage so they understand how trickle down economu works. Im moddle class and i can tell you the pop hit the fam 2 yrs ago the upper class is about to be the middle class in another 6 months. But lets not kod ourselves this ia the plan to keep us finacial slaves and banka to keep all of us renters.

[@bjnowak]

Why did get cut early?

[@CarlitoswayDR]

Mr Donalds was the best here today

[@stevenchen8933]

Ms Watters makes me sick!!!

[@hubaermi]

5 minutes seems not enough....

[@stevenbeenaware]

Exactly. Its BS. And all one big show.. it's corruption at the highest levels of governments. This so called leaders make rules for us, all while. They get richer and many get poorer.

[@larrybuller4707]

More free money…I worked two jobs, making 8.00 an hour…I didnt get any free money…

[@GailKaasa]

There is a bunch of Republican BS

[@eduardosimoes5877]

What happened?

[@larrybuller4707]

Who is this guy….

[@christophfrei9578]

Stagflation!

[@Miyo_Kun]

yoooooooooooooo

[@mohamadborzoie3384]

What happened? !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[@johnmarkston4883]

lizard people 🦎

[@RedguardSpy]

B b bruh

[@davidjonburke2729]

What a bunch of losers

[@westmassdave7354]

Your All overpaid And i want my money back! All of it.

[@Denis_Lamy-f5k]

.

[@romek5523]

🏦😈🏦

[@lilboogie6106]

Biden is finished

[@fernandoaranda-q7d]

Thank you. Crypto education is what the world needs the most right now. I don’t think that buy and hold is a valid investment strategy anymore. Not too diluted and to a degree, follows Sonal Collinsfx trading ideas and signal tips for your portfolio growth and aggressiveness. she is a woman who has not only taught me what the cryptocurrency trading world looks like but a secret to uplift my finance. Buying crypto and waiting for the price to shoot up is not the best way to invest in the market but buying and trading is Boston

[@skylarmwaniki3653]

Mr Lawler's comments were completely inappropriate. No class

[@shawncanon9028]

There is a time and place for questions like that.. But I think it is a question that’s on a lot of peoples minds

[@lsmitty8839]

😮 read Meet your strawman and the creature from jekyl island , we are their slaves

[@SejoPas]

Trump ‘24🇺🇸🇺🇸🇺🇸🇺🇸

[@romek5523]

👊🏻😤😈Trump 2024 🇺🇸

[@user-mf6rj8mh5t]

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.

[@user-ey4im1xs8d]

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

[@johnmccarty-z7u]

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.

[@user-lw6wd6jm9n]

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.

[@cirella1064]

And thats why its an unsustainable system

[@user-mf6rj8mh5t]

Yeah, she’s been fantastic for my investments too. When Powell's testimony today hinted at a possible economic slowdown, she had already positioned my assets in more defensive stocks and bonds. It's about being proactive rather than reactive.

[@PearlKing21]

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.

[@Thomas_dan]

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.

[@MikeSmith21121]

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.

[@VictoriaAllen-ml8kx]

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.

[@PearlKing21]

Yeah, she’s been fantastic for my investments too. When Powell's testimony today hinted at a possible economic slowdown, she had already positioned my assets in more defensive stocks and bonds. It's about being proactive rather than reactive.

[@Thomas_dan]

It’s not just about reacting to the market; it’s about being prepared for different scenarios. A financial advisor like Desiree can provide that foresight. When Powell speaks, he’s essentially providing a roadmap for where the Fed thinks the economy is heading. Understanding and acting on that information can make all the difference in your financial health.