Jerome Powell And The ‘Pretty Substantial Tent City’

Jerome Powell And The ‘Pretty Substantial Tent City’

Jerome Powell spoke on a virtual IMF panel Thursday. Nobody was expecting to hear anything new from the vaunted Fed Chair, who's mastered the art (?) of repeating himself, almost verbatim, to the point that you could easily mistake one set of remarks for a different set, precisely because there's no discernible difference between them. I'm not trying to be derisive. What else is he supposed to say? The recovery is incomplete, the Fed will remain accommodative until it judges that accommodation
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8 thoughts on “Jerome Powell And The ‘Pretty Substantial Tent City’

  1. Matt Gaetz or Jay Powell? Josh Hawley or Jay Powell? Ted Cruz or Jay Powell? Marco Rubio or Jay Powell? Donald Trump or Jay Powelll? I rest my case.

  2. Seriously, when a member of one of the groups of elites says this, you know they got to be talking about it among themselves. Like, “Oh, dear, that’s really terrible that there was a tent city. How was the snow last week in Sun Valley?”

    1. There’s just something about the way he said tent city — that emphasis — I mean, it’s obviously terribly tragic, but the way he said it, and how he kind of looks sideways simultaneously, it’s like something out of a dark, dry comedy

  3. I don’t know – is it any worse than the Greenspan argle bargle of yore? He could have been more empathetic, but at least he brought it up. I cut this guy a lot of slack. Your Ground Hog Day analogy is spot on.

  4. When is the last time a Fed chair has said anything about the homeless?? I’m grateful he raised the issue, and that he apparently thinks about it every day. The financial press is full of pundits who only think about how interest rates will affect the gains on their already overvalued tech portfolios. I’ll take good intentions over poor delivery any day.

  5. Powell is empathetic, maybe not the most eloquent. We have seen in the past 45 years that eloquence does not always translate into robust actions or results. I will take empathy over eloquence right now. It takes some confidence to experiment the way Bernanke and Powell did through their respective economic crises’. Its easy throw rocks from the peanut gallery. He is really trying to help, and deserves some credit for the attempt.

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