Re: Financial topics
Posted: Wed Mar 22, 2023 10:36 am
richard5za wrote: ↑Wed Mar 22, 2023 10:24 amPowell needs to be careful of not causing a debt default in more banks. It looks like some banks were less than prudent in the low interest rate period. So on one hand he has to sort inflation and on the other avoid a financial crisis - I don't envy his taskNoMansLand wrote: ↑Tue Mar 21, 2023 11:43 pmI posted that quite a while ago, and I can only hope Powell has the guts I was asking about to keep up with the campaign against inflation. Even if it's just .25 points at a time.NoMansLand wrote: ↑Tue Aug 16, 2022 5:05 pm
I had never heard of Jerome Powell before he took his current position back in '18. Most seem to believe he is as anxious to get back to easy money as they are. I can only hope he has gone along with things as they were for so long because he thought the economy could take one more for the team. Please tell me that he knows he has to keep hiking, even in the face of pain, to preserve the dollar's reserve currency status. Tell me that he is a man of fortitude who has always been determined to do WHATEVER the situation called for, even if he hoped it wouldn't come up.
The dollar is under assault from threats both foreign and domestic. That isn't in doubt. However, I believe we are still in a position to assure that, even if King Dollar is killed, we remain relevant. This is only possible if we keep fighting inflation and preserve some value. Even if the Fed is raising with their right hand while doing "targeted easing" with the left.
Richard, you are polite to a fault.It looks like some banks were less than prudent...