Economy Everything's Fine! Fed Chairman Powell Hints At Interest Rate Cut

Discussion in 'The War Room' started by Rational Poster, Jul 10, 2019.

  1. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    Fed Chairman Powell Hints At Interest Rate Cut; Stocks Rally



    Stocks rallied Wednesday as Federal Reserve Chairman Jerome Powell testified about challenges facing the U.S. economy, adding to expectations that the central bank will cut interest rates later this month.

    The Fed had hinted at such a cut in June.

    "The bottom line for me is that the uncertainties around global growth and trade continue to weigh on the outlook," Powell told members of the House Financial Services Committee on Wednesday. "In addition, inflation continues to be muted."


    Cut taxes, cut interest rates, who fucking cares it doesn't matter. Everything is fine! Free money for everyone... except you know, actually poor people!

    What the hell is going on here?

    Are Republicans just trying to fluff the numbers during an election year? Or is the new Fed chair really cutting rates because Trump whined about it? Is there something more sinister they're plotting?

    Does this mean I'm going to have to refinance?
     
    Last edited: Jul 10, 2019
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  2. HockeyBjj

    HockeyBjj Putting on the foil

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    I literally refinanced my student loans 3 weeks ago.

    Can I redo this quickly or does that hurt my credit score more than I'd gain?
     
  3. VivaRevolution

    VivaRevolution Whoopin' Belt Double Yellow Card

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    Bond yield inversion, and many other indicators are flashing recession right now.

    It's all a bunch of fraud, so it is hard to care. It will crash when it crashes. You can kick the can down the road, but the crash is built in at this point.

    Wondering if we once again prove we are a spineless nation of cucks when it happens again.
     
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  4. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    You're fucked.

    During the process rates could lower before you actually close and they'd still tell you fuck off.
     
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  5. National Acrobat

    National Acrobat Superstitious Century, Didn't Time Go Slow?

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    Recession is incoming folks. 9-18 months
    [​IMG]

     
  6. Last Samurai

    Last Samurai Gold Belt

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    they realized at this rate they can't service the debt

    [​IMG]
     
  7. HockeyBjj

    HockeyBjj Putting on the foil

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    People have been saying this type of thing every 3 months since Trump took office that a recession was looming in the next few months. Still hasn't happened.

    It'll happen eventually of course, but absolutely no one can claim they predicted it anymore. Even yours there "next 9 to 18 months" fuck that's a wide window for that dart throw.
     
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  8. Jack V Savage

    Jack V Savage Secretary of Keepin' It Real/Nicest Guy on Sherdog

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    I haven't seen anyone say that before, and considering that it's been more than a decade since the last downturn, 9-18 months is a tight and bold prediction. I wouldn't be bold enough to predict that myself (I'd say it's around even odds over that period, which is pretty much the definition of a worthless call but I'd normally be more confident betting against one in any 18-month period).
     
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  9. Yorkist

    Yorkist Red Belt

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    Look how excited all the liberals are that they might have something to go after Trump for.

    Yawn.
     
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  10. Yorkist

    Yorkist Red Belt

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    I have. Dozens of times.
     
  11. HockeyBjj

    HockeyBjj Putting on the foil

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    Just on the point of not seeing anyone predicting an impending recession, there's been scores of them each year. Your other points are fair to make.

    Just grabbing a few off first page of Google to make my case.

    2016- https://www.politico.com/story/2016/11/krugman-trump-global-recession-2016-231055
    https://www.investopedia.com/articles/investing/071515/6-factors-point-global-recession-2016.asp
    https://fortune.com/2016/06/06/larry-summers-trump-buffett/

    2017-https://www.cnbc.com/2017/06/05/inverted-yield-curve-predicting-coming-recession-commentary.html
    https://www.cnbc.com/2017/04/10/the...within-the-next-18-months-economist-says.html
    https://www.forbes.com/sites/johnma...ly-trigger-a-global-recession-by-end-of-2018/

    2018- https://www.forbes.com/sites/nextavenue/2018/08/03/is-the-next-recession-on-its-way/
    https://fortune.com/2018/12/21/term-sheet-predictions-2019/
    https://www.cnbc.com/2018/04/19/75-...ssion-in-the-next-two-years-survey-finds.html
     
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  12. Jack V Savage

    Jack V Savage Secretary of Keepin' It Real/Nicest Guy on Sherdog

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    The first of those is a drunk tweet on election night that was retracted the next day, and the second has nothing to do with Trump. But OK, yeah, there are always bears. The thing is, now for the first time in a decade, we are starting to see real signs of trouble on the horizon. Not like Greoric's infamous prediction that the Worst Crash in History would start in late 2015, but just signs that a downturn is becoming increasingly likely within a couple of years.
     
  13. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    Then why the fuck are they cutting interest rates for NO REASON?

    I thought this was the most tremendous, best economy ever.

    You don't cut rates when the economy is healthy.
     
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  14. Lowmanproblems

    Lowmanproblems Black Belt Platinum Member

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    For real, if we really have faith in this economy we would raise the rates. Lowering rates right now is insane.
     
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  15. HockeyBjj

    HockeyBjj Putting on the foil

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    You do when you have a president more preoccupied with his ego and appearance and wants to take the economy from tremendous to stupendous so that he can have bragging rights
     
  16. superking

    superking Poet — Traveler — Soldier of Fortune

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    I refinanced mine two months ago. I'm sure as hell gonna try.
     
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  17. Lead

    Lead /Led/ Staff Member Senior Moderator

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    Should rates be cut at this point in time? If a downturn happened in that timeframe, are rates low enough already that they won’t have that tool to try to combat a recession?
     
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  18. Rational Poster

    Rational Poster War Room Messiah Platinum Member

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    I know I mentioned that in the OP, but I think it's unlikely even the Trump appointed Fed chair would do something like that.

    I think it's more like establishment GOP wants to cook the books the best they can during an election year because their platform basically has to be, "I know he's an asshole but da ecomony"
     
  19. JonesBones

    JonesBones Excuse my contraflow

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    So lower interest rates don't help poor people?
     
  20. JonesBones

    JonesBones Excuse my contraflow

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    Trump has zero power over what the Fed does.
     
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