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Jerome Powell To NBC: ‘We’re Not Going To Run Out Of Ammunition. That Doesn’t Happen.’

"Essentially, the answer to your question is 'no'". 

"Essentially, the answer to your question is 'no'". 
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9 comments on “Jerome Powell To NBC: ‘We’re Not Going To Run Out Of Ammunition. That Doesn’t Happen.’

  1. Emptynester says:

    I agree- but hopefully when the dust settles from all of this (from resulting supply/ demand economic changes, both domestic and global, and from any resulting political changes here and abroad) US “money” will still be perceived to be the world’s primary reserve currency.

    • What would replace it? The de-dollarization of reserves is proceeding, but a pace that might very well be described as “absolutely glacial”.

      The biggest threat to America’s reserve currency status has nothing to do with monetary policy or fiscal policy or debt, it has to do with foreign policy and the weaponization of the US financial system against friends and foes alike. When people begin to think the USD will be used against them, the will de-dollarize. But that has nothing to do with money printing or debt. It has to do with misguided foreign policy and an administration that can’t be trusted.

      • George says:

        If we do as good a job predicting de-dolarization and geopolitics as we did the onset of this latest global crisis and the inevitable consequences yet to come , then indeed all bets , as to how this world looks in 20 years are off the table…. Same goes for the glacier…

      • Privateer says:

        @therealheisenberg You nailed it, H. Once we started weaponizing the U.S. financial system the writing was on the wall. No way sovereigns will tolerate that situation any longer than they absolutely have to.

  2. Viss says:

    There’s nothing fundamentally wrong with our economy”, Powell added.

    However, fundamentally, our economy is based on casino mentality and excess greed, thus the premise that The Fed and or Trump or politicians are required to goose the game and ensure that any idiot making bets will be a big winner, is asinine! One reason the housing bubble came into being, was because lending standards were reduced, and ninja loans excited everyone, including The Fed. It was The Fed who fueled a bubble of excess, and as usual, here we go again, making sure that any wanna be daytrader or hedge fund can run wild, without any accountability. The moron Ed Yardeni suggested on March 4, in his blog, that the market was falling because of Bernie & the threat of socialism. So how is it, that people who were panicing over socialism, openly accept a capitalistic economy based on markets without risk? On one hand, we’ll prop up and support any shitty bank or daytrader, but then fail to provide social healthcare to people who live in our casino economy. It is possible that this new thinking will conveniently open the door to allow everyone to bet with their healthcare insurance plans and their social security accounts, in fact, why have social security, when The Fed now has a program to make every poor moron wealthy?

  3. Emptynester says:

    America deserves a more open/balanced discussion of the potential changes to our country – including the long term fundamental changes to our society, economy, global position and form of government – that could result from unlimited money printing.

  4. Viss says:

    Rant continues: Moral Hazard, what can we fear from excess and a society that doesn’t understand fear or risk, or accountability. Perhaps this is a new order, the Age After Aquarius, where bonds and debt, in terms of lending money will fade away, as we all embrace unlimited riskless wealth, where there is no downside, only more and more. As poverty is erased and debt forgiven, is it possible that society will witness a new area of intelligence, linking to a time when there is no longer homelessness, addiction, terrorism and all the I’ll that were such a huge part of the growing chaos, which suddenly peaked with this virus. Indeed, the virus is a blessing, transforming our society from decay, into this new time when we’ll all share in the glory of Trump’s connection to God. What glory lies before us and what heights will be reach, there are no limits to our imagination — or moral Hazard. Amen

  5. Ria says:

    At the end of this debacle I would surmise there will be some major changes to our country. But it is not so straightforward to predict what those might be. You could make an argument that the country will have seen the light, and make major changes to rebuild the safety net for ordinary citizens and to make the rungs of the ladder lower to that it is possible for more of society to be able to climb the the ladder of well being and success. But it could easily go the other way to an even more extreme version of winner take all and resemble “Beyond Thunderdome”…..I would not bet one way or the other.

  6. Ria says:

    I remember encountering Austrian economic thinking in graduate school and thinking what an utterly riduclous academic construct it was. Also as a reminder, Ayn Rand applied for and collected social security in her lifetime. Nobody with a heart or brain would advocate letting society burn to the ground to avoid “moral hazard”….

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