SlateStone Wealth chief market strategist Kenny Polcari weighs in on Jerome Powell’s testimony and the inflation crisis.
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Powell keeps talking about raising rate yet continuously does NOTHING…except expanding the money supply . He clearly doesn't want to be seen as "the bad guy".
The word of the day children is “hyperinflation “ wake up
Wages are the same but corporate profits are up, the richest 1% have gained an inordinate amount of wealth, what does that say about inflation?
Imagine that you sucked at your job as much as Powell and Yellen, yet instead of being fired and run out of the industry you got to keep your job and keep messing up…
Both sides are beating around the bush on the inflation topic, so that you are wholly unprepared when it hits hard – and it will. It works like this, slow, slow, then fast. Forget gold. It will reach $6000, but Bitcoin will reach one million
We can endure 11% inflation over 10 years and only suffer a slightly lower global credit rating. Considering other events of late , it seems like a reasonable trade. Pick your battles…
Powell is a puppet or a fool or an idiot or no balls. The president, congress, and the Fed are killing America.
The reason I don't live in Jackson Hole is because I can't afford Jackson Hole. I now, live in Jackson Hole.
Steve in Tuscon.
inflation is a bigger problem than FJB wanted powell to admit
its treasonous for anyone in power to knowingly ignore the truth and shove bad things at the populace!!! In the private sector, a manager, Branch or Regional magrs..if they continue to make bad choices..they are let go.
He'll be singing another tune tomorrow when they announce a nuclear reactor has been bombed in the Ukraine
Powell lied to prop up Brandon until after the state of the union address. Now he wants to say sorry.
What has increased only 10% ??
They need high inflation for the great reset;
We have already known inflation is high.
IT'S THE ECONOMY STUPID! INFLATION IS OUT OF CONTROL!
Joe Biden and the Radical Democratic Party has failed the citizens of the United States of America and the World. Remember this year long disgraceful lack of leadership by Joe Biden and the Radical Democratic Party, when you vote in the 2022 midterm elections. VOTE THE DELUSIONAL DEMOCRATS OUT OF OFFICE!
It's why we should Invest in a Domestic Supply Chain. I Favor Community Development and an Investment Program which Resembles the Meiji Restoration so that America can meet the Demands of the 21st Century.
Vote R and then the Rs can impeach all Ds and put them on trial for 'treason' to America!!!
A big bubble has been formed cuz of these low rates . And a big crash will be here soon
They should have raised rates 4 or 5 years ago but they pander to the wealthy and big corporations. The fed is way behind the curve rates should be 5 or 6 percent, now no one can afford to live unless your rich.
Powell is like Biden in Afghanistan. They could have asked anyone and they could have told them what would happen. They act clueless. To many dollars chasing to few goods. Classic definition.
Inflation is a problem? Nooooooooo wayyyyyyyyyyy! This is a complete revelation. Let me go write this down.
The Federal Reserve is doing EVERYTHING they want…..
Thanks 81 million americans! I assume when I'm in public that I'm surrounded by…you fill in the blank!
They are not behind the 8 ball. Raising rates raises the cost of the government borrowing money and with the Big New Deal socialism, higher rates eats up that money. This costs another what, half trillion a year?
Congressional Clown Toss…
All of Em…
Most products and services…3 to 5 transportation trips…Fuel Coefficients…ah 40 % ?..
Maximum inflation will be fed target.
Biden administration betrayed intire world and USA people specifically
The Biden administration are in a sinking ship !
Watch Ukraine On Fire – 2016 Documentary by Oliver Stone. Please share this!
Not done ..
wait till the day when Biden ‘s Fed. & his team increase interest..
America will go to the hell Americans will seat on the edge ! Hopeless helpless
😢 😢
Powell is too political – he does not want to see wall street go down – but we are headed to a major recession due to the FEDS policies – maybe even a depression.
Vote against Biden in the next election..let's get rid of Biden and the Squad🤗🤗🤗🤗🤗🤗🤗🤗🤗🤗🤗
We know we are the one suffering under this pos administration
FED serves Wall Street and Big Business not taxpayers. Inflation is not his concern and will never be his concern.🤮🤮💩💩🤡🤡🤬🤬🤯🤑🤑
Exxon, Chevron and most oil companies are making record profits. CEOs and Boards of Directors are getting record bonuses. There is plenty of oil, but US production is down 10%. Oil companies are creating shortages, jacking up prices and calling it inflation.
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Kackler Kamala and the Left still don't have a clue about what is the actual problem and their backwards delusional view simply just keeps trying to chalk this up to price gouging and "its the mega business' fault" so this administration and those Leftist handlers are still blind as ever to the issue, so we are still going to suffer from it because they can't smell the coffee, and only insist on their incorrect diagnosis.
Trump Strong like ManlyMan Pootin & Talibans
INFLATION of US is big issue, but Nancy/ Biden/Harris / his team & capital hill ignore..
Covid no more issue ..
no money to buy groceries, Broke.. poor .. any thing goes up to sky is big concern..
SOS
WE NEED TO REMOVE THE FEDERAL RESERVE!!
Fed chair is Trumps pick, this is all on Trump and the GOP. He was told about inflation danger months before the election. All republicans fault.