Federal Reserve Chair Powell testifies before the Senate committee on monetary policy - 7/9/24

Federal Reserve Chair Jerome Powell speaks Tuesday to the Senate Banking Committee as part of his semiannual address to Congress on the state of the economy and monetary policy.
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Federal Reserve Chair Powell testifies before the Senate committee on monetary policy - 7/9/24

[@ismaelgonzalez7930]

Anyone here from Yotta?

[@boochiegangliltony]

Yes

[@yadidameng]

I'm glad I started spending the money I had in there. I was confused when it stopped working even though there's still supposed to be money left 😢 bummer

[@doubtingT911]

Yeah, like I said before, where's the "Beekeeper" when you need him?

[@Mr.5ame]

​@@yadidamengSame, I was lucky enough for my food to be free when I was eating out that night. I was embarrassed though

[@dral22]

Yes!, we're here. I just need my freakn money so I can close my account. It's been months 😡

[@marys9028]

I just want my yotta money bro…..

[@jlam3927]

What does that have to do with the Fed?

[@jeffreymaki9292]

@@jlam3927 I read news sources calling it a banking app, but looks more like a gambling app to me

[@extrapip]

@@jlam3927​​⁠it’s partnered with Evole bank and the FED has supervisory authority over the bank

[@chyhart]

@@jlam3927 YOTTA is one of the banks affected by this, all our money has been locked out since May

[@stephd669]

Powell is like HOW ABOUT YOU DO YOUR JOBS.

[@LoriRish-]

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.

[@albertzalez32]

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

[@CaroLewis-j8k]

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.

[@Woodstev-]

@@CaroLewis-j8k 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

[@CaroLewis-j8k]

Katherine Nance Dietz 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.

[@WEEKENDISHERE0]

insightful comments, curiously searched Katherine Nance Dietz on the web and at once found her page, no bs! she seems impeccable..

[@Seanpfree]

First-time home ownership is OVER. "Starter homes" are over 400k.. Average income is 60k. Wonder why Millenials and Gen Z are doom spending? Not getting married? Not starting families? Why is civil unrest growing while the wealth gap is larger than it ever has been in history? This economy priced us out and left us behind before we arrived. This doesn't end well for society at any socioeconomic level..

[@2ferone86]

You know this has been happening for thousands of years, right? Just saying.

[@breadfan2617]

Nice of you to point out some obvious issues. Do you offer any solutions?

[@captrockh2055]

​@@breadfan2617yea, get rid of Bidenomics .

[@breadfan2617]

@@captrockh2055 can you be more specific? I don't think anything the president current or former has had any significant impact on the economy relative to what the Fed has been doing. The Fed has stayed politically neutral, stayed focused on the indicators and brought inflation down without crashing the economy.

[@DrKomaTrans]

@@2ferone86 ye say welcome back comunism so we take back all to the hands of the people and then we start a new game of capitalism

[@debraspossey4178]

I cant believe Yotta can keep peoples money and not make it available to them. I have very little money and used this as my emergency money. To my surprise when i tried to withdraw it because i didnt groceries it wasnt available to me!!! I need my money

[@UnoDosTres-iq2hv]

Another One Bites the Dust✅

[@SVJROADSTER770]

Inflation is coming close to his 2% target. Instead of that ridiculous lie, he should give a list where he shops so everyone can see 2% inflation cause the stores I go into the prices keep going up around 10%. Restaurants are around 20%.

[@bosswarrior90]

The 2% inflation just means that prices are going up at 2% yearly now. For prices to go down we would need deflation which would be represented by a negative inflation percent. The fed isnt trying to bring prices down by bringing the inflation percent to 2%. Theyre just trying to slow the acceleration of price increase.

[@Fried52]

You can blame Corp America. There is little justification for continued shrinkflation at this point. We have recovered from the disastrous crisis management of the pandemic from the Trump administration. Between the fiscal stimulus and investment of the Biden administration and the actions of the Fed we have the strongest economy with the lowest rate of inflation on the planet. Supply chains have been repaired and profit margins are at all time highs. Add to that the lopsided tax cuts Ryan got passed and Corp America balance sheets have never been in better shape. They need to share in there good fortune with the American consumer and not just there stockholders.

[@Fried52]

You can blame Corp America. There is little justification for continued shrinkflation at this point. We have recovered from the disastrous crisis management of the pandemic from the Trump administration. Between the fiscal stimulus and investment of the Biden administration and the actions of the Fed we have the strongest economy with the lowest rate of inflation on the planet. Supply chains have been repaired and profit margins are at all time highs. Add to that the lopsided tax cuts Ryan got passed and Corp America balance sheets have never been in better shape. They need to share in there good fortune with the American consumer and not just there stockholders.

[@Fried52]

Biased Tube moderators won't let me post a reply. I tried to respond to you at the top of the page.

[@racistpixel1017]

​@@bosswarrior90 in last two years prices tripled!!! Thats not 2% at all xddd

[@hercules8879]

Dude lies his ass off. Then one day he's just gonna be like yup recession time

[@breadfan2617]

Who are you talking about?

[@paduchurirajashekar]

you realised early dont tell anyone its a secret 🤣🤣🤣

[@satoriasimov9169]

What is he lying about ?

[@breadfan2617]

@@satoriasimov9169 who is lying and what are they lying about?

[@Fried52]

People have been calling for a recession since Biden was inaugurated and all that's happened is we had the strongest recovery with the lowest inflation rate of any of the G-20 nations.

[@WhatInTheHustle]

People are too busy listening to Plies political views on IG instead of tuning in to stuff like this 🤦‍♂️ This is why the economy is doomed

[@matteo5392]

They take advantage of it cause they know people don’t know

[@huntercricket-tb2dr]

No rate cuts. We need prices to come down and not interest rates. Rates need to stay high until this everything bubble implodes and all prices come down.

[@nick77353]

What a joke! Do these fools think we are dumb? Stop spending money we don’t have, stop printing money, stop sending money overseas, stop forgiving debt, start taxing corporations their fair share, start locking up criminals that are stealing from retailers, stop allowing corporations from buying up houses in America! Stop pointing fingers, both parties are 100% guilty and both parties have done nothing in the last 20 years to improve our situation.

[@Mewwwwwwwwwwwwwwww]

Hi Nick What happened actually!! Why u so angry?

[@MichaelSwg]

Love that opening speech from Senator Brown

[@Johnaguirrehomeloans]

It would appear that he has never opened an economics book.

[@MBarberfan4life]

Which was then refuted by Powell later on.

[@Fanimik]

Corporate government and FED👺👺👺👺👺

[@rimacalid6557]

Is this the big bubble we were waiting for?

[@ananas267]

Warren is like an angry granma

[@Pur3lybo0ty]

Funny Mr Brown said if Wallstreets bets go poorly which they often do. I know he is referring to actual wall street but isn't the irony beautiful that R/Wallstreetbets was known for degenerate bets and gambles? Also what is the point of these meetings if Powell is going to repeat the same thing over and over again?

[@nickjohnson7322]

Incredibly, caught me off guard before I was listening carefully

[@hercules8879]

Yeah he doesn't answer anything then straight up lies to act like everything is fine

[@HS-uv6yf]

@@Pur3lybo0ty The guy is the least assertive fed governor I've seen. Guy has no credibility and no balls. Man up and say something different. He's a black hole.

[@typicallynotawake9911]

these guys cant stop asking Powell political questions

[@Pepening]

they can stop asking him stupid questions also

[@HugoBergmann-lu4nd]

First off, the belief that the Federal Reserve would stop raising interest rates was the driving force behind the entire economic chaos. What should we do now that we have a situation where interest rates are crashing? At this point, how would you suggest that I safely allocate $300k?

[@StocksWolf752]

Although the market is currently volatile, aren't the current valuations a result of the Federal Reserve's monetary policy and low interest rates? Therefore, my recommendation is that you consult a financial advisor who can give you entry and exit points for the shares or ETF that you are interested in.

[@LiaStrings]

Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.

[@cowell621]

Could you recommend your advisor? I'll be happy to use some help.

[@LiaStrings]

The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name. She's established.

[@ananas267]

How come nobody asked whether increasing rates during a housing shortage would accelerate the increase of housing prices and therefore make housing even more affordable than currently?

[@ThomasMusto]

Rate cuts will NOT HELP until you stop INSTITUTIONAL INVESTORS from buying SINGLE FAMILY HOUSING. Enact legislation that forces institutional investors to sell their current inventory and stop the future purchases from them as well. Supply will rise, cost will drop significantly, and rates WONT MATTER AT THAT POINT. These people are so incompetent it’s beyond belief. We literally have morons running every aspect of government.

[@MrBiggerdaddio]

what comittee? aint nobody there to testify to!

[@doubtingT911]

Where's the "Beekeeper" when you need him? When Silicon Valley Bank collapsed all the millionaires were made whole beyond the $250k FDIC guarantee. The working class who put their trust in Yotta/Evolve Bank don't get squat.

[@sps6]

Mr.Powell has done a great job, withstanding tremendous pressures from politicians to rate cut last one year....looking at economic situation month of august 2024 would be the first rate cut post the central bank meeting..

[@dogmaticchains6564]

Just words! It’s been 2 months now.

[@proletariat33]

inflation: i'll be back

[@GANAPATIIIII]

The paper money supply - is just too great and I think its best to purchase junk silver now - because it will never be worth zero - Best to prepare without breaking the bank - 👀

[@user-kc2ct4fh7f]

These people think Powell should have the answers to questions on info that he's not responsible for. They need to do their own jobs or better yet, retire.

[@karabinb4514]

How the hell can you say that labor markets are balanced?? When there is no manufacturing market, and you add government jobs?? How is this strong and balanced??

[@sloppyjoehillups]

“too much month at the end of the money”. Thanks Mr Scott. @12:44

[@JesusChrist-xd2sd]

The USA is heading towards a recession soon unemployment will be at 6%. Housing will crash 30%. You can’t spend your way out of this one if you do inflation will accelerate back to 9%

[@ec_money]

Remember, money is the one thing that isn’t partisan in congress

[@sandrakuo6993]

Do we have an inflationary problem or consumer spending habits problem?

[@djdna0746]

Jerome Powell sure love showing his Rolex ⌚️ 😅

[@ronjr831]

He does. Is he part of the problem ? Or do you just like his fancy watch

[@sirreginaldthe4th]

Both kennedy and warren were pretty terrible. They're all catering to their voter base but those two were particularly bad.

[@alistairwatson4105]

19:59... my god. this is the start LOL

[@yadidameng]

No wonder my card stopped working. Dang.

[@chadlovato1759]

Mr. Cramer meant to say - “Chair Jerome Powell your temperament is something to be admired”

[@SW-li7gd]

The rate is high because of US global strategy to attract capitals, not for domestic consumers.

[@kurtphilly]

What? The U.S. economy is driven by the U.S. consumer, full stop. That is why foreign investments are made. The IRA with green energy credits has made it more beneficial for foreign companies to build in the U.S. than at home.

[@Freedo1234]

Sole purpose is to rip off money from other countries

[@yocobicus]

We are passing corporate greed super-fast. I would say a lot of goods, services, and loans are getting closer to usury; Than being a helpful building block.

[@NancyLi-w1k]

If Kodak stock price is a beautiful mistake, how should we think about Kodak stock's return in value? Personal opinions, not investment advice🎉

[@jlam3927]

They're going to have to drop interest rates in a Trump Presidency LMFAO.

[@freestylefranc2653]

mr.brown opening statement Nailed it!😂

[@994pt4]

I don't care what he says. All I know is BTMFD and get as much of that EZ PZ FREE FED MONEY as you can! Thanks for all that FREE MONEY JDADDY!!!

[@tokenomics1233]

Senator Katie Britt from Alabama is a G. very smart

[@HappyUs0508]

Give us our money please... We don't want to be homeless because of this.

[@danielstone869]

What was that part the chairman Brown asked the chair about Evolve? Why did that seem like he was saying help my friends at Evolve or we'll come after your job?

[@yocobicus]

Also could have meant “Squeeze Evolve until they balance this. Its Evolve’s fault SynapseFi ran away with X amount.” My two cents, SynapseFi got Evolve into this mess. But Mr. Brown could be suggesting that it was Evolve’s call to duty to watch over the deposits. Which means its Evolve’s duty to say back in the day something like “SynapseFi you are looking unbalanced or riskier. You have a limit of 2 months or 2 million unbalanced. Which every comes first to figure this out. If you don’t …… cut off from funds, Evolve will have to balance it for you SynapseFi and SynapseFi you will have to pay the fees it took to balance it” and not wait until $112 million from just yotta for this to hit the feds radar.

[@investfourmore]

High interest rates do not lower housing prices. They have never lowered housing prices. There are multiple studies that have shown they don't lower prices. Yes, high rates lower demand but they also lower supply. They stop people from selling and they stop builders from building. The 1970s saw some of the highest rates increases and also had the highest appreciating real estate prices. Yes, higher than what we have seen in the last decade.

[@huntercricket-tb2dr]

You are wrong

[@investfourmore]

@@huntercricket-tb2dr how so?

[@davidjinyi]

Jerome Powell and Senator Reed are 71 and 73 years old respectively… they should retire and have more competent people running the country.

[@mmm-cake]

People should be required to be nicer when communicating

[@UmedGafurov-lk5ty]

Why does everyone wear Apple Watch in this meeting ?

[@Nix_IoI]

Because they cant afford a way more cooler watch

[@gustavomorales9213]

This feels like a rehearsed play for people so that we dont complain because our economy is strong and there are other advanced economies who aren't doing so well.. somehow, they dont talk about corporate control over the housing market.

[@kanwaljitsingh432]

Looks like Powell was falling sleep when Mr Scott was going on his long speech, rather then asking question.

[@christking2206]

This news must be true contingent to the representation of Law. Reminder:Every false statement stated about this matter will face serious repercussion.

[@devinaudette9770]

I can’t stand listening to these men who serve billionaires aim all of their anger at poor people. We need to send that money to billionaires not college debt.

[@sirreginaldthe4th]

Do they make supercuts of these committees with just Powel talking? What a waste of time. Any previous hearings on technology related topics like Facebook were mostly irrelevant too.

[@Fried52]

@SVJROADSTER770 You can blame Corp America. There is little justification for continued shrinkflation at this point. We have recovered from the disastrous crisis management of the pandemic from the Trump administration. Between the fiscal stimulus and investment of the Biden administration and the actions of the Fed we have the strongest economy with the lowest rate of inflation on the planet. Supply chains have been repaired and profit margins are at all time highs. Add to that the lopsided tax cuts Ryan got passed and Corp America balance sheets have never been in better shape. They need to share in there good fortune with the American consumer and not just there stockholders.

[@johnnyaza7908]

It feels like nobody remembers how everything went down the drain due to the pandemic. This is the only realistic comment here. Thanks!

[@Pepening]

All this is such a waste of time, senate asking the dumbest questions ever. Drilling j powell on monetary policy when the government spends absurd amount of money on things that don't matter. All I see are clowns putting someone in a hot seat.

[@Sammy-ej4pj]

Puts on food services of America?

[@GLCL]

Clown show

[@Freedo1234]

Drop rate now spk

[@karabinb4514]

How about going after to regulate these private equity companies!! Plus make it impossible for former Congress and senate leaders from going to these such corporate companies especially if they are in office this. As the ONLY putting bills in place for the surprise bill is not enough..congress/senate and the president are at fault for NOT setting a budget and sticking to it!!! 😡😡 this government is way to big!! And needs to drained!! I don’t understand how such regulations such as student loans can be forgiven isn’t this unconstitutional??

[@seanmonear4917]

I would remind Warren the same thing you are supposed to be working for the American people not the big banks...... Do your job quit wasting taxpayers money on your witch hunt against Bitcoin.... Just because you are to old to understand technology........

[@googleebabienterprise908]

Wasting of time... he didnt have the answer

[@arthurdean7224]

Building wealth from nothing involves consistent saving, disciplined spending, and strategic investments. Begin by creating a budget to track expenses and identify areas for savings. Prioritize paying off high-interest debt and establishing an emergency fund. As you build a foundation, start investing in low-cost options like index funds, and focus on continuous learning and improving your skills for better income opportunities

[@allieanderson6947]

Need his tg page right?

[@allieanderson6947]

*@michaeltpin*

[@allieanderson6947]

Credits goes to *Michael Hugh Terpin* , one of the finest portfolio managers in the field. he's widely recognized; you should take a look at his work.

[@allieanderson6947]

Accurate asset allocation is crucial, and some individuals use hedging strategies or allocation of their portfolio to defensive assets for market downturns. financial advisory is vital for achieving this, This approach has helped me stay financially secure for five years, yielding nearly a million ROI

[@brentonharrison8254]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@PLASTICPIPE]

Is Mr. Reed drunk?

[@sumitsarkar3148]

Elizabeth Warren just barked a lot

[@bossmotivationss]

She Was Speaking Facts, Maybe You Are The B*tch

[@Eric-LDNIO8]

FED

[@captrockh2055]

Nothings - Built, Nothings Back, Nothings Better.

[@LaviniaVianaDuarte]

#RVN buy

[@yrp237]

Home prices are not going up....its the value of the currency that its priced in thats going down. Please understand that!

[@jsr3234]

In the last year Inflation is down while home prices have been steady increasing. So yes, home prices are going up.

[@kurtphilly]

It depends where you live.

[@yrp237]

@@jsr3234 I didn't say inflation, I said the value of the currency. Yes its often tied to inflation. Debasement of the currency is what is occuring. The same dollars the used to buy a $150K house years ago now must buy a $485K house. That's how much our currency is being debased. The house did not appreciate, in fact its a depreciating asset as it ages. Remodels do add value but not 3X the purchase price. It's not, never has, and never will be a good thing. We didn't have any option before but to store our value in our homes & the society organized around pushing those prices higher with property taxes, etc. Now, we no longer need to store our wealth in our homes just to tread water in real terms. We now have an actual hard asset to store our wealth in that is programmatically designed to increase in value ever 4 years. It's math. Therefore, as more homeowners sell their homes & move their money to a safer place the air will come right out of the houses and the prices will decline as they should to the marginal cost of production. Slowly at first, then as others realize what's going in they'll all rush to sell their homes ASAP for the better asset before ALL their value is lost. It will be playing out over the next decade. Be careful out there! Get off zero, bitcoin is the solution. A house is only a home, not a piggy bank.

[@swamibr0]

End the Fed. I’m not a bot.. we can’t end it immediately, but the power of printing money is single greatest driver of inequality known to man..

[@kurtphilly]

So what happens when we have the next financial crisis? 9/11, credit default swaps, etc?

[@swamibr0]

@@kurtphilly you’re right. We’ve never dealt with a crisis without a central bank throughout the whole of human history. We can exist and prosper without a central bank

[@994pt4]

just leverage and BTMFD in equities and GET RICH! DON'T FIGHT THE FED!!!

[@Fried52]

Your going to get your wish if Trump is elected. Fed is toast. Read the 2025 plan. Only question, then what when the banks run wild again.

[@CorporalNips]

The fed doesn't print money, the treasury does.

[@perrinpartee557]

Gas prices were just as high and sometimes higher 2010-2014 approx when WTI was $90+

[@majiddogar2225]

y wo bnda jo pori dunyia ko hila ky rkh deta

[@taiamademaman]

JP tried not to agree that the unemployment rate is ABOVE their projections for 2024, meaning according to them we are witnessing a 4.1 rate that is should just show by July 2025, meaning they are above their forecast and expectation. Bullish for the short term indeed.

[@rameshnagarajan2196]

😂

[@legatoleyte5387]

And best actress award goes to Sen. Pocahontas. 😂 this easy folks if you read this comment; “You watch what they do, and Don’t do what they say.” All senators are answering to their Boss JP. And JP answers to his boss BIS the central banks of central banks, and the BIS also answer to their Boss which you and I don’t see that’s why they are the 1% behind the shadows also known as 13 Blood line Families.

[@JHBNEWSandINFORMATION-dc9fr]

Gas was cheap because NO ONE was driving. The supply was greater than the demand. Come on Scott...tell the truth.

[@Fried52]

Good luck with that!

[@taniagarciaduenas2522]

❤Good evening America now if you have to walk on tiptoe you can't touch anything and immediately cure the inflation in America otherwise we will have an increase in GDP let's stay calm 🌍

[@mesenburg]

Supreme being of time and space barks through the thunder Seems to be a lot of gambling going on down there

[@infolaishop3081]

😂鮑威爾本來就不在意經濟，美元內涵價值持續掏空，綠色貨幣世界使用率會持續下降。 😂美國債務螺旋，登上世界巔峰，股票會漲就好。人民變成喪屍的機率越來越高。 😂歐盟、日本快成為美國債務調節的犧牲品，人民越來越苦。

[@infolaishop3081]

綠色貨幣就像經濟細菌一樣，會侵蝕持有美債的國家經濟😂

[@Samuel-bh6ei]

I have learned a lot concerning crypto progress this time and would like to join in. I wish I can get a good mentor....

[@komplex6081]

Ligma Balls is a great mentor

[@hercules8879]

Bot posts

[@taniagarciaduenas2522]

👉🍞👌What matters is to keep the Federal Company in the motto and balance the market, this moment is delicate god 👉🌾☝️