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Started By
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Fed Chair Powell says U.S. economy deteriorating with alarming speed
Posted on 4/9/20 at 3:04 pm
Posted on 4/9/20 at 3:04 pm
LINK
quote:
Federal Reserve Chair Jerome H. Powell said Thursday the U.S. economy is in an emergency and is deteriorating “with alarming speed.” His remarks came shortly after the central bank unveiled over $2 trillion in new loans to keep the economy afloat as much of the nation goes into a lockdown to fight the spread of the deadly coronavirus.
quote:
“People have been asked to put their lives and livelihoods on hold, at significant economic and personal cost,” Powell said in a Brookings Institution webcast. “We are moving with alarming speed from 50-year lows in unemployment to what will likely be very high, although temporary, levels.”
Powell called for a national discussion about what it will take to reopen the economy, but he urged caution about moving too quickly and triggering another spike in coronavirus cases and deaths. Treasury Secretary Steven Mnuchin has said it’s possible businesses can reopen in May. Powell said sometime after July is more likely.
More than 17 million Americans have filed for unemployment aid in the past four weeks as the nation has entered a national emergency due to the global pandemic, the Labor Department reported Thursday. Powell said the burdens of the shutdown are “falling most heavily on those least able to carry them,” and he vowed to do everything he can to help.
17
Posted on 4/9/20 at 3:05 pm to WPBTiger
I'll take "No shite" for $1000, Alex
Posted on 4/9/20 at 3:06 pm to WPBTiger
Open the fricking country back up Mr President
Posted on 4/9/20 at 3:06 pm to WPBTiger
quote:
Powell said sometime after July is more likely.
frick that noise kiddo
Posted on 4/9/20 at 3:09 pm to WPBTiger
If this shite goes on until June, we might as well nuke ourselves...
Posted on 4/9/20 at 3:10 pm to WPBTiger
quote:
Powell said sometime after July is more likely.
Posted on 4/9/20 at 3:55 pm to WPBTiger
It wouldn't be worth a shutdown even if there were 500,000 deaths.
And it's not close to that
And it's not close to that
Posted on 4/9/20 at 3:56 pm to WPBTiger
Trust Powell
Posted on 4/9/20 at 3:59 pm to WPBTiger
quote:
Treasury Secretary Steven Mnuchin has said it’s possible businesses can reopen in May. Powell said sometime after July is more likely
Mnuchin is in on the reopen task force, Powell out
Posted on 4/9/20 at 4:01 pm to WPBTiger
Interesting how killing the economy killed the economy.
Posted on 4/9/20 at 4:01 pm to WPBTiger
Market must not care what he says.
This post was edited on 4/9/20 at 4:09 pm
Posted on 4/9/20 at 4:02 pm to pennypacker3
quote:
If this shite goes on until June, we might as well nuke ourselves...
I don't know man, the Mad Max films make it look dope.
Posted on 4/9/20 at 4:03 pm to WPBTiger
If the hospitals are good...OPEN BACK UP!
Posted on 4/9/20 at 4:03 pm to WPBTiger
China/Democrats/Clinton’s-1
America-0
Let’s end this shite and get back to normal.
America-0
Let’s end this shite and get back to normal.
Posted on 4/9/20 at 4:27 pm to YogaPants
Trust Mnuchin
Posted on 4/9/20 at 4:28 pm to WPBTiger
Yep. It's time to end this.
Posted on 4/9/20 at 4:28 pm to WPBTiger
quote:
Fed Chair Powell says U.S. economy deteriorating with alarming speed
This guy has a fine grasp of the obvious.
Posted on 4/9/20 at 4:30 pm to WPBTiger
quote:Fed Chair Powell has been superb.
Fed Chair Powell says U.S. economy deteriorating with alarming speed
He did Trump a huge favor in issuing that "Up yours, Fauci. You're killing MY patient!" statement.
Powell just fired the opening salvo of the get-us-back-to-work war.
Meanwhile Dems held up further cessation assistance.
Not only did he move aggressively this morning. Powell stomped today's bad jobs numbers into the ground. The -6.5m jobs number was announced at 8:30am today. Futures had already dropped several hundred points on the rumor. At the news release, down they went. At 8:31am Powell's Fed stepped on the jobs news. He announced another huge spending/support pkg, including aggressively buying downgraded Corporate Bonds. Made at least +1000pt difference in the DJIA close today.
Powell has been outstanding here!
Trump is very fortunate to have him.
Posted on 4/9/20 at 4:33 pm to NC_Tigah
But he says 3 more months of this shite may be necessary! WTF?!??!
And frick him!
And frick him!
This post was edited on 4/9/20 at 4:35 pm
Posted on 4/9/20 at 4:36 pm to WPBTiger
Reopening the country doesn't have to be an all or nothing "one-size-fits-all" plan that is all too typical of government.
Keep very high risk people in social distancing. Most are old (like me) and are retired or mostly retired. Old retired people staying home won't affect much. People with underlying conditions should stay in isolation until we have a treatment, preventative or vaccine we can be sure of.
Keep very high risk people in social distancing. Most are old (like me) and are retired or mostly retired. Old retired people staying home won't affect much. People with underlying conditions should stay in isolation until we have a treatment, preventative or vaccine we can be sure of.
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