Posted by
Message
WPBTiger
USA Fan
Parts Unknown
Member since Nov 2011
19039 posts

Fed Chair Powell says U.S. economy deteriorating with alarming speed
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.


HailToTheChiz
Auburn Fan
Back in Auburn
Member since Aug 2010
35140 posts
 Online 

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
I'll take "No Shit" for $1000, Alex


Replies (0)
Replies (0)
341
Northwestern tiger
Minnesota Fan
Minneapolis
Member since Oct 2005
21683 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Open the fricking country back up Mr President


Replies (0)
Replies (0)
371
Tiguar
Auburn Fan
Alabama
Member since Mar 2012
28257 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
quote:

Powell said sometime after July is more likely.

frick that noise kiddo


Replies (0)
Replies (0)
201
pennypacker3
Alabama Fan
Charleston
Member since Aug 2014
1884 posts
 Online 

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
If this shite goes on until June, we might as well nuke ourselves...


PillageUrVillage
LSU Fan
Mordor
Member since Mar 2011
10476 posts
 Online 

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
quote:

Powell said sometime after July is more likely.


Image: https://media.giphy.com/media/ToMjGpx9F5ktZw8qPUQ/giphy.gif


Replies (0)
Replies (0)
110
LoneStarRanger
Houston Astros Fan
Texas/Europe
Member since Aug 2018
1012 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
It wouldn't be worth a shutdown even if there were 500,000 deaths.

And it's not close to that



wutangfinancial
LSU Fan
Dallas, TX
Member since Sep 2015
3138 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Trust Powell


YogaPants
LSU Fan
Baton Rouge
Member since Aug 2008
4388 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
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


timdonaghyswhistle
Member since Jul 2018
6777 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Interesting how killing the economy killed the economy.


Replies (0)
Replies (0)
110
TD SponsorTD Fan
USA
Member since 2001
Thank you for supporting our sponsors
Advertisement
Diamondawg
Mississippi St. Fan
Mississippi
Member since Oct 2006
19729 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Market must not care what he says.
This post was edited on 4/9 at 4:09 pm


Replies (0)
Replies (0)
10
GeauxFightingTigers1
Member since Oct 2016
1518 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
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.

Image: https://media3.giphy.com/media/p66AChrfgO2Ws/giphy.gif


Replies (0)
Replies (0)
50
loogaroo
LSU Fan
Welsh
Member since Dec 2005
7351 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
If the hospitals are good...OPEN BACK UP!


Replies (0)
Replies (0)
60
JCdawg
Georgia Fan
Marietta, GA
Member since Sep 2014
4873 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
China/Democrats/Clinton’s-1
America-0

Let’s end this shite and get back to normal.


Replies (0)
Replies (0)
50
wutangfinancial
LSU Fan
Dallas, TX
Member since Sep 2015
3138 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Trust Mnuchin


Replies (0)
Replies (0)
00
imjustafatkid
UAB Fan
Alabama
Member since Dec 2011
22557 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
Yep. It's time to end this.


Replies (0)
Replies (0)
10
GumboPot
USA Fan
tigerdroppings.com Elite Member
Member since Mar 2009
78167 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
quote:

Fed Chair Powell says U.S. economy deteriorating with alarming speed


This guy has a fine grasp of the obvious.


Replies (0)
Replies (0)
00
NC_Tigah
LSU Fan
Carolinas
Member since Sep 2003
99010 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
quote:

Fed Chair Powell says U.S. economy deteriorating with alarming speed
Fed Chair Powell has been superb.
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.


TigahTeeth
LSU Fan
Georgia
Member since Feb 2016
2669 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
But he says 3 more months of this shite may be necessary! WTF?!??!


And frick him!
This post was edited on 4/9 at 4:35 pm


Auburn1968
Auburn Fan
NYC
Member since Mar 2019
704 posts

re: Fed Chair Powell says U.S. economy deteriorating with alarming speed
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.


first pageprev pagePage 1 of 2next pagelast page

Back to top

logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram