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Jerome Powell Got Everything Right – Until Someone Asked About Monetary-Fiscal Nexus
Jerome Powell breezed through an uneventful press conference Thursday, sticking largely to familiar
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A few good men, the movie comes to mind, when Jack Nicholson screams about people not wanting to know the truth. If the public really understood that the government was capable of helping a great deal more, “the man” would not be happy or safe…
I was thinking about the need to keep the myth going. He needs to play ball. The end game is starting to come into focus. But, they still have many quarters (time periods, not quarter dollars) left to play the game “kick the can.”
Honestly, at this point, with what’s happened in the election, they might just as well synchronize with all the other CBs, go to zero, buy the paper, let the balance sheet go where it will, all the while working on the monetary reset. Then we get the MMT.
There are a lot of cold, hungry, and homeless, people wandering around my city. At this point I just hope the Red Senate is able to come to some compromises that doesn’t hasten the slide to full-on despair and eventual pre-mature death of so many. My city and state don’t own a printing press. Something’s gonna have to give.
Incisive summary of the Chairman’s presser. Thank you.
Risk assets to the moon without fiscal stimulus. No fiscal stimulus means much much much more financial assistance. Powell wouldn’t dream of holding back to force the politicians hands.