Fed Chair Powell Addresses Tapering
The US Central Bank Scales Back Monthly Asset Purchases
MAJR NEWS BRIEF
Federal Reserve Chairman Jerome Powell spoke to the nation today to discuss their change in monetary policy by tapering their monthly bond purchase program from $120 billion to $105 billion starting this month.
The central bank is sticking to their claim that inflation is still transitory, mainly due to supply chain disruptions, “bottlenecks.” Nothing to do with monetary and fiscal authorities printing trillions of dollars.
Powell confirmed that they will not be raising interests and gave no inclination on when they might be, and he said they haven’t even spoken about raising rates in the committee’s discussions…He didn’t have an answer for reporters and said the meeting was only to address tapering.
I’ve become somewhat of a Fed hawk and frankly, this was the worst I’ve seen Powell addressing the public and answering questions. He was flustered, frustrated and actually threw his hands up saying something along the lines of, “we’re doing the best we can, but we don’t really know what we’re doing…”
Watch the video for yourself. It doesn’t take a genius to know when someone isn’t being honest and transparent with you. That’s what it feels like to me.
At least he admits that they’re “learning how to manage the economy”…
If anything this video is just further evidence that the system is broken and the people in charge know it, but don’t know what to do about it.
Bitcoin definitely fixes this…
MEDIABitcoin and crypto adoption is here to stay. Don’t let your friends and family miss the opportunity of a lifetime.
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