Federal Reserve Chair Jerome Powell weighed in on inflation and the state of the U.S. housing market, saying the underlying housing shortage continues to cause ‘upward pressure on housing prices.’ Powell testified before the House Financial Services Committee on Mar 7, 2024.
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No Powell. It’s YOU. And your money printer.
The Fed Reserve idiots caused it by injecting massive amounts of money into the financial markets trying to float the economy while shutting the world down following Covid.
And now everyone will suffer.
No mention of Corporations like BlackRock buying up all the houses….
This man has absolutely no idea what he’s talking about. They don’t understand what it’s like. We should address these people and make them realize the error of their ways.
😂 what a joke.
As a full time trader I can attest that he actually does know what he’s doing. Everyone complains about the prices and how the cost of everything has increased. It’s very simple economics. Hypothetically speaking let’s say there are 10 houses in America for sale. There are 15 buyers. There are more buyers than sellers. Which in return will drive the price up. That’s where you are seeing your biggest price increases. There are so many more people than you think that can afford and are willing to pay more for there goods and services. Just because it’s a lot of money for you doesn’t mean it’s a lot to someone else. Also it’s implanted into the American people brain that working a public job is the only way to make money. If all you’re doing is working a job for your income then you can’t complain about not having enough money. You can always make more and you can always work smarter.
Powell is an attorney/lawyer by trade. Remember that. Powell and the Fed in general are old and slow. Wasn’t it them keeping rates too low for too long during covid and waiting too long to start raising? Powell has done an ok job, but this soft “landing” will dictate his legacy. Only time will tell.
The fed had to do whatever it took to keep this country alive after Biden shutdown everything. I would rather have some sticky inflation or a recession than what china has. I still don’t think china is opening back up. Yes low interest rates causes an increase in ability to borrow. But that borrowing power fuels growth. It’s your government that’s screwing everyone. I’m definitely not saying the federal reserve is perfect. But I do give him credit for trying to keep us afloat. Also I’m not sure the chain of command of how they print money. I don’t believe Powell can directly print money. I was under the impression that would have to be passed though congress first then it would be his job to physically carry out the verdict.
Food costs are up. Any wonder why people like billionaire Bill Gates are buying up all the farmland in America?
How does corrupt, gold bar hiding Menendez still have a job?