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Today is Powell's last day as Fed chair
Posted on 5/15/26 at 10:09 am
Posted on 5/15/26 at 10:09 am
Remember when he told us the 9.1% 40 year high inflation rate in June of 2022 was "Transitory"
Good times!
Good times!
13
Posted on 5/15/26 at 10:12 am to stout
Would it shock you if he jacked up the rates just to screw Trump and the country?
Posted on 5/15/26 at 10:26 am to hogcard1964
Powell never understood math…..
Posted on 5/15/26 at 10:29 am to stout
Finally!!
Posted on 5/15/26 at 10:31 am to hogcard1964
quote:
Would it shock you if he jacked up the rates just to screw Trump and the country?
Would Trump have the fortitude to charge him with treason if that was to happen?
Posted on 5/15/26 at 10:32 am to stout
quote:
Remember when he told us the 9.1% 40 year high inflation rate in June of 2022 was "Transitory"
Good times!
Don't let the door hit you on your arse... Good times indeed and War Damn Eagle Senator Tuberville.
Posted on 5/15/26 at 10:36 am to stout
quote:I won't dispute that he was plenty political himself, but today's action in bonds should clearly show anyone who is paying attention that rate cuts right now DO NOT make sense.
Remember when he told us the 9.1% 40 year high inflation rate in June of 2022 was "Transitory"
Posted on 5/15/26 at 10:38 am to stout
quote:Thank goodness he was correct.
Remember when he told us the 9.1% 40 year high inflation rate in June of 2022 was "Transitory"
Posted on 5/15/26 at 10:39 am to stout
LSURussian still denies Powell said inflation was transitory 
Posted on 5/15/26 at 10:40 am to stout
Posted on 5/15/26 at 10:41 am to stout
Day trading futures is about to be amazing.
Posted on 5/15/26 at 10:49 am to LSURussian
quote:
Thank goodness he was correct.
It was still over 5% 10 months after the June high and was over 5% for 24 months of his term. That’s not “transitory”, that’s persistent.
Posted on 5/15/26 at 11:02 am to stout
quote:
he told us the 9.1% 40 year high inflation rate in June of 2022 was "Transitory"
Posted on 5/15/26 at 11:08 am to stout
I mean he's still 1 of the 12 votes needed to make changes to rates.
I don't think anyone is expecting anything dramatically different out of the fed than what we've always gotten more or less.
I don't think anyone is expecting anything dramatically different out of the fed than what we've always gotten more or less.
Posted on 5/15/26 at 11:09 am to LSURussian
Yeah, that was hyperbole on my part
He actually said it on July 28, 2021 when rates hit 5.4%
Here are the inflation rates for the three years after that
August 2021 — 5.3%
September 2021 — 5.4%
October 2021 — 6.2%
November 2021 — 6.8%
December 2021 — 7.0%
January 2022 — 7.5%
February 2022 — 7.9%
March 2022 — 8.5%
April 2022 — 8.3%
May 2022 — 8.6%
June 2022 — 9.1%
July 2022 — 8.5%
August 2022 — 8.3%
September 2022 — 8.2%
October 2022 — 7.7%
November 2022 — 7.1%
December 2022 — 6.5%
January 2023 — 6.4%
February 2023 — 6.0%
March 2023 — 5.0%
April 2023 — 4.9%
May 2023 — 4.0%
June 2023 — 3.0%
July 2023 — 3.2%
August 2023 — 3.7%
September 2023 — 3.7%
October 2023 — 3.2%
November 2023 — 3.1%
December 2023 — 3.4%
January 2024 — 3.1%
February 2024 — 3.2%
March 2024 — 3.5%
April 2024 — 3.4%
May 2024 — 3.3%
June 2024 — 3.0%
July 2024 — 2.9%
August 2024 — 2.5%
3 years and 11 rate hikes to get under 3% but it was totally transitionary!
He actually said it on July 28, 2021 when rates hit 5.4%
Here are the inflation rates for the three years after that
August 2021 — 5.3%
September 2021 — 5.4%
October 2021 — 6.2%
November 2021 — 6.8%
December 2021 — 7.0%
January 2022 — 7.5%
February 2022 — 7.9%
March 2022 — 8.5%
April 2022 — 8.3%
May 2022 — 8.6%
June 2022 — 9.1%
July 2022 — 8.5%
August 2022 — 8.3%
September 2022 — 8.2%
October 2022 — 7.7%
November 2022 — 7.1%
December 2022 — 6.5%
January 2023 — 6.4%
February 2023 — 6.0%
March 2023 — 5.0%
April 2023 — 4.9%
May 2023 — 4.0%
June 2023 — 3.0%
July 2023 — 3.2%
August 2023 — 3.7%
September 2023 — 3.7%
October 2023 — 3.2%
November 2023 — 3.1%
December 2023 — 3.4%
January 2024 — 3.1%
February 2024 — 3.2%
March 2024 — 3.5%
April 2024 — 3.4%
May 2024 — 3.3%
June 2024 — 3.0%
July 2024 — 2.9%
August 2024 — 2.5%
3 years and 11 rate hikes to get under 3% but it was totally transitionary!
This post was edited on 5/15/26 at 11:10 am
Posted on 5/15/26 at 11:13 am to stout
quote:
Federal Reserve Chair Jerome Powell first began describing the pandemic-era rise in inflation as "transitory" in early 2021.
He repeatedly used the term throughout that year, famously stating in August that the Fed expected the inflation effects to be temporary.
He officially retired the term in November 2021 during congressional testimony, acknowledging that price pressures had become too persistent.
Posted on 5/15/26 at 11:14 am to LSURussian
So even he admitted he was wrong
Thanks for confirming it wasn't transitionary
Thanks for confirming it wasn't transitionary
Posted on 5/15/26 at 11:27 am to stout
praise the lord
Posted on 5/15/26 at 12:07 pm to hogcard1964
quote:
Would it shock you if he jacked up the rates just to screw Trump and the country?
What? Do you know how rate adjustments are effected?
Posted on 5/15/26 at 12:36 pm to Big Scrub TX
quote:Treasury bills and bonds divorced themselves from the fed's lowered rates for a while now. T-bonds are at 5.4%
I won't dispute that he was plenty political himself, but today's action in bonds should clearly show anyone who is paying attention that rate cuts right now DO NOT make sense.
Even 30-year fixed rate mortgages are back up between 6.3% - 6.5%.
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