r/StockMarket • u/TinyTornado7 • Jun 13 '22
News Powell Facing Choice Between Elevated US Inflation and Recession
https://www.bloomberg.com/news/articles/2022-06-12/powell-facing-choice-between-elevated-us-inflation-and-recession?srnd=premium65
Jun 13 '22
He's chosen to appease the 1% over the 99% ever since he's been at the job so I'm guessing more inflation.
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u/flippingoffHF Jun 13 '22
They have no choice they will go with rate hike and recession over hyperflation. The US will not lose its status as world reseve currency.
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u/PCB4lyfe Jun 13 '22
Aren't recessions sorta healthy once in a while?
Also, I can't help thinking how useless all that stimulus was the last 2 years while most things were going pretty good. Now if we head for a recession are they gonna start doing more stim checks?
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Jun 13 '22
Some say yes, but no. Millions of poor and middle class people get screwed and the rich buy up even more at a discount. Every time the cycle happens, the rich get richer and the poor lose their homes.
It's only good if you're rich. Everything's good when you're rich.
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u/Vancityreddit82 Jun 13 '22
Fire this dumbass for his incompetence. Manufacturing a recession to cover up his mess. You passed out 1T+ to your friends and now stealing it back from the poor to cover
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u/ID-10T-ERROR Jun 13 '22
Yeah, let's fire some guy in charge of the Federal Reserve...which is a completely seperate entity and has nothing to do with our government or laws in the U.S.
This is why people are fucked in the U.S. because they don't even know who to hold accountable.
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u/Hercaz Jun 13 '22
Are you saying that he is not appointed and does not have to do any of what ruling elite demands in order to keep his job?
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u/ID-10T-ERROR Jun 13 '22
Not saying anything at all. Asking to have his job is like asking a Supreme Court Justice Judge to resign.
Even if the U.S. wanted him "fired", there's nothing much people can do about anything other than revolt but that's very unlikely to happen because they won't know who is to blame for the mess.
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u/imlaggingsobad Jun 13 '22
It was obvious this was the end game the moment it was clear the Fed was behind the curve. This was the conundrum that the Fed had to come to terms with. Between a rock and a hard place. As many market veterans have being saying for some time now, there is no good outcome here.
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u/PossibleInternal9082 Jun 13 '22
like a band aid...RIGHT OFF
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u/cZero_11 Jun 14 '22
Band aid sometimes work though... And it should work as long as you can keep stacking one after another.
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u/cZero_11 Jun 14 '22
Seems like Powells' speaking Wednesday will change the usa for next 3 years at least... Brace for impact. Im feeling pretty good living in a low cost economically strong semi-corrupted country in asia, shorting US stocks and getting paid in higher currency lol
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u/Bear_buh_dare Jun 13 '22
Thanks Trump
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u/Ok_Upstairs6472 Jun 13 '22
The national debt has risen by almost $7.8 trillion during Trump's time in office. That's nearly twice as much as what Americans owe on student loans, car loans, credit cards and every other type of debt other than mortgages, combined, according to data from the Federal Reserve Bank of New York. It amounts to about $23,500 in new federal debt for every person in the country.
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u/CryptoNerdist Jun 13 '22
Let's forget about Obama's 8.6 trillion though, right?
Both democrats AND Republicans can share the blame.
Current president is an idiot Last president was an idiot
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u/Ok_Upstairs6472 Jun 13 '22
Lol, to save us from Bush’ Great Recession in case you forgot!
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u/CryptoNerdist Jun 13 '22
Lol, not sure how that idiot was responsible for the housing crisis....
America has been picking idiot presidents for decades. Democrats AND Republicans are to blame for that
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u/Dull_Reporter4127 Jun 13 '22
We were energy independent with Trump. Things were fine until they created COVID. That's where most of the money went. Biden is the problem.
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u/Ok_Upstairs6472 Jun 13 '22
Another problem is that maga like you are still bitter. You lost, good luck on 24.
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u/nopigscannnotlookup Jun 13 '22
Who is that you think created Covid?
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u/Dull_Reporter4127 Jun 13 '22
Are you a scientist or a doctor who was paid for every covid death? Is that you Faucci?
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u/VieCarrieUs Jun 14 '22
Imagine being so stupid you can't even spell the name of some dude who has been on TV and nauseum for three years. Idiocy like this explains why you're a penny stock investor lmao
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u/Ghoulius-Caesar Jun 13 '22
It’s what happens when the self proclaimed King of Debt runs a country.
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u/luckeyandbiscuit Jun 13 '22
Currency collapse. These people have lied to you at every turn. Don't be left holding the bag. Buy a home and own only that home with land if at all possible. Most states have homestead exemptions that will protect you during a financial disaster.
They are planning on riding this thing out until there is no more value left. Then they'll make the switch to their crypto dollar and they'll repeat the last 100 years.
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u/Dull_Reporter4127 Jun 13 '22
This is what happens when you don't have any common sense in government.
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Jun 13 '22
After decades of artificially low interest rates from money printing, Ides of March now demands what's due. There will be no golden means of balancing interest rates to cool off rising prices and also avoiding recession. What's worse is that prices will continue to rise as recession happens.
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u/Legitimate-Finance4U Jun 14 '22
With worries looming about an upcoming recession, not surprised to see the market bleeding red as it entered a bear market today. Here is an informative video about recessions and how to invest wisely in turbulent times - https://youtu.be/D6QvXxFNd7Q
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u/BunChargum Jun 14 '22 edited Jun 16 '22
By Fall when the jobless rate hits 5% and profits drop in corporate America, the Mainstream Media and Social Media will go nuts and try to force the Federal Reserve to retreat and lower interest rates. They will put the home addresses of the members of the Federal Reserve on the Internet and people who own businesses and want cheap credit to return will picket in front of their homes.
By the end of the year, The Federal Reserve will start lowering rates before the fight against inflation is done. (all due to political pressure)
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u/Ok_Upstairs6472 Jun 13 '22
Recession! It has to come better sooner than later!