Powell is keeping rates too high and keeping SFR sales low

[Zoe]

I think some tariffs take effect like August 1st.

 

[John Hassler]

Powell told Trump, “You just added in a third building,” and clarified that the Martin Building was not under construction and had no bearing on the current renovation costs. Trump had apparently read from a document that lumped all three buildings together, leading to the inflated figure.

Trump is Stupid and ignorant. He as president and leader of the free world , does not have so much going on, that he should pay attention to all of details .For that matter He should know where all thousands and thousands of existing federal buildings are in the entire country.

I bet he took a nappy on the way back to the white house.

If Trump is going to carry a document on his person to display for a dog and pony show he should know what’s in it. That he didn’t is typical of Trump. He’s a poorly informed individual and not because he doesn’t have access to good information. He just doesn’t or can’t absorb information well (read up on those who have the unenviable job of briefing him). While he is not a moron in the conventional sense (sub 70 IQ), he is a moron for the position of POTUS.

 

[John Hassler]

Here’s a link to the moron in action

 

[Carnivore]

IYep, that wasto easy, knew I would suck someone in on my satirical post. LOL

 

[John Hassler]

IYep, that was easy, knew I would suck someone in on my satirical post. LOL

Trump as president IS satire in itself.

 

[J Grant]

If Trump is going to carry a document on his person to display for a dog and pony show he should know what’s in it. That he didn’t is typical of Trump. He’s a poorly informed individual and not because he doesn’t have access to good information. He just doesn’t or can’t absorb information well (read up on those who have the unenviable job of briefing him). While he is not a moron in the conventional sense (sub 70 IQ), he is a moron for the position of POTUS.

I think he's capable of absorbing information; the thing is, he simply doesn't care. He can tell his base anything or deflect the narrative ( what about Biden! ). His party is too frightened to contradict him when he's wrong, and his base adores displays of ignorance. It means they are getting over on the libs. Education is bad—very bad!! Science is a hoax! Facts are terrible! Hunter's laptop!

 

[Elliott]

“It looks like it’s about $3.1 billion. Went up a little bit, or a lot,” Trump said, asserting the cost of the renovation had increased from the previously estimated $2.5 billion.

Powell, standing next to Trump as he addressed reporters, shook his head.

“I’m not aware of that, Mr. President,” Powell said. “I haven’t heard that from anybody at the Fed.”

“It’s not new,” Powell responded.

.........................

So if I understand it. The two buildings, Eccles and 1951 Constitution Avenue buildings, are $2.5 Billion over budget. And now the renovation of the William McChesney Martin building is $600 million over budget. And Powell's brilliant response is, "It's not new." It is the kind of quibble I'd expect from a lawyer.

 

[John Hassler]

The Eccles and Constitution buildings had a 2017 renovation budget of $1.9b. Between change orders and delays the cost now totals 2.5b. Per federalreserve.gov, the OIG gets monthly updates on this project started in 2017 so none of the costs should be a surprise (even though the numbers are massive to me).

Donnie, being the genius he is and in an attempt to inflate numbers, lumped in a third (Martin) building into his 3.1b. Powell subsequently informed Donnie the Martin building renovation was completed 5 years ago.

It’s not rocket science and it’s not a lawyer’s quibble. The budget at issue involved two building, not three. Even most appraisers taking the stand could figure that out.

 

[Fernando]

Housing market might be only thing that would encourage FED to cut the rate. That's it and a cut might only help home equity loans and credit cards and personal loans like car loans, etc.

It would lower interest rate on things like certificates of deposit at banks. Those people would not be happy with rate cut. It would lower business loan rates that are floating or locked for like 6 months to 2 years.

It's not FED's mandate to help housing market.

 

[Fernando]

The Eccles and Constitution buildings had a 2017 renovation budget of $1.9b. Between change orders and delays the cost now totals 2.5b. Per federalreserve.gov, the OIG gets monthly updates on this project started in 2017 so none of the costs should be a surprise (even though the numbers are massive to me).

Donnie, being the genius he is and in an attempt to inflate numbers, lumped in a third (Martin) building into his 3.1b. Powell subsequently informed Donnie the Martin building renovation was completed 5 years ago.

It’s not rocket science and it’s not a lawyer’s quibble. The budget at issue involved two building, not three. Even most appraisers taking the stand could figure that out.

It's like an unhappy agent wanting to meet me in person giving me sales list to influence me to change my appraised value.
Agent and Trump think by meeting someone, they can have it their way.