So, a couple of hours have passed since Federal Reserve Chair Jerome Powell completed his testimony to the Senate Banking Committee. How was it? Perhaps this is the best description: Uncle Jerome Powell just nuked the market 🔥 🔊…🤨 pic.twitter.com/XNmqlyOte3 — Wall Street Silver (@WallStreetSilv) March 7, 2023 Meanwhile, here is Powell’s entire prepared remarks […]
Federal Reserve
Mark it on your calendar! Fed Chair Jerome Powell to appear before Congress this week
If you have time, be sure to mark this on your schedule: Federal Reserve Chair Jerome Powell will be appearing before the Senate Banking Committee on Tuesday at 10 a.m. He will also be making an appearance before the House Financial Services Committee on Wednesday at 10 a.m. Grab the popcorn! It will be fun.
Federal Reserve money supply falls nearly 2% for second straight month
How is the state of the U.S. money supply? The data continue to show that it is contracting. In fact, it has been on a downward trend since hitting a peak in February 2021. For the second consecutive month, the M2 money supply contracted by 1.8 percent in January, down from -1.05 percent. Here is […]
Peak inflation or disinflation? Cleveland Fed Nowcast points to elevated inflation
The latest narrative on Wall Street is that inflation might not have peaked yet. Or, at the very least, the disinflation trend may be put on ice for the time being. With a couple of weeks until the much-anticipated February consumer price index (CPI) and personal consumption expenditures (PCE) price index, there is a look […]
Report: Democrats oppose Biden’s Goolsbee choice as Fed Vice Chair over diversity concerns
Who will serve as the next Vice Chair of the Federal Reserve? Now that Lael Brainard has stepped down to serve as the National Economic Council (NEC) director — Biden’s top economist — the White House is searching for a successor. Reportedly, President Joe Biden has considered Austan Goolsbee, the head of the Chicago Fed […]