What happened to all the work? No orders, no refi, no foreclosures, no purchases,

[Fernando]

Yellen is a academic, a byproduct of the teachers lounge mind set. She believes in modern monetary theory or New Keynesian Economics which suggests government spending isn't inflationary even though Austrian theory has shown government is the only source for long term inflation. She thought inflation was transitory because of the pandemic supply demand imbalances, a temporary phenomena that turned out to be more or less permanent. Now she is financing deficit spending with short term paper which is about as risky as it gets in a rising rate environment.

Yellen is very knowledgeable. She was the 15th chair of the Federal Reserve from 2014 to 2018. Then she went to academia at UC Berkeley (Yeah, my alma mater).
Thus she knows how the Fed makes decision and very experience.
As for Powell, he's doing a great job and he's transparent.
He has always said he wants 2% inflation and is watching economic data in how he decides with interest rates.
No surprise what he's doing. Business hates surprises which could explain why our economy is still doing well.

 

[Terrel L. Shields]

It was politics to calm the little people in not panicking. And it worked at that time.

That's called kicking the can down the road with a lie. So, when can we trust what she says? Short answer. Never.

As for Powell, he's doing a great job and he's transparent.

He won't be seen as a 'great' Fed chief. Nor will Yellen. Transparency is something new to the Fed and frankly, seems less effective than the old Greenspan days when no one knew what the maestro would do...

Business hates surprises which could explain why our STOCK MARKET Is still doing well.

Fixed it for you. The economy is not doing well. The stock market is.

 

[J Grant]

got a bit busier this week - will see if it is a trend or a one off.

 

[Charles West]

Yellen is very knowledgeable. She was the 15th chair of the Federal Reserve from 2014 to 2018. Then she went to academia at UC Berkeley (Yeah, my alma mater).
Thus she knows how the Fed makes decision and very experience.
As for Powell, he's doing a great job and he's transparent.
He has always said he wants 2% inflation and is watching economic data in how he decides with interest rates.
No surprise what he's doing. Business hates surprises which could explain why our economy is still doing well.

Far as I can tell neither Yellen nor Powell are particularly bright with respect to their mastery of their unique wheelhouses. Yellen has been consistently wrong with respect to policy not to mention goofy behavior and Powell more or less has been missing in action with his delayed response to Biden's massive stimulatory fiscal expansion, stupidly making the mistake thinking inflation was going away, then doubles down on that mistake by announcing publicly rate cuts prematurely. It is amatuer hour folks.

 

[Fernando]

Far as I can tell neither Yellen nor Powell are particularly bright with respect to their mastery of their unique wheelhouses. Yellen has been consistently wrong with respect to policy not to mention goofy behavior and Powell more or less has been missing in action with his delayed response to Biden's massive stimulatory fiscal expansion, stupidly making the mistake thinking inflation was going away, then doubles down on that mistake by announcing publicly rate cuts prematurely. It is amatuer hour folks.

Sometimes the peasants don't understand what the policy makers are doing.
Yellen and Powell are very experience and are making decisions us simpletons do not see.

In Japan, the Yen today is 158 to the US dollar. It's highest I'd seen in decades.
Great time for Americans to go to Japan. Charles, use your hotel points. I'm staying at $3,000/night using points.
Anyway, the point is that Japan has been stagnant even with zero interest.
The increasing older Japanese population are frugal and still saving.
It's "innovative" how Japan's FED is allowing the Yen to collapse.
Send in the ugly Americans because we love to spend. American consumption will help boost their economy.

 

[Dublin ohio]

Sometimes the peasants don't understand what the policy makers are doing.
Yellen and Powell are very experience and are making decisions us simpletons do not see.

Speak for yourself simpleton peasant

In Japan, the Yen today is 158 to the US dollar. It's highest I'd seen in decades.
Great time for Americans to go to Japan. Charles, use your hotel points. I'm staying at $3,000/night using points.

Why are you so excited over a few pennies on the dollar at the most.

 

[ucbruin]

Speak for yourself simpleton peasant


Why are you so excited over a few pennies on the dollar at the most.

Disclaimer:
I'm terrible at math (spelling even worse)....

I went to Japan in May 2019 and the exchange rate was 1 to 100....
So 1 to 150 is 50% increase (again my math could be off)....
A 50% difference is not insignificant (aka pennies)....
Imagine if energy, food, medical costs reduced 50%....
Better yet, imagine if appraisal fees increased 50%....
If my math is off, never mind....

 

[Dublin ohio]

Disclaimer:
I'm terrible at math (spelling even worse)....

I went to Japan in May 2019 and the exchange rate was 1 to 100....
So 1 to 150 is 50% increase (again my math could be off)....
A 50% difference is not insignificant (aka pennies)....
Imagine if energy, food, medical costs reduced 50%....
Better yet, imagine if appraisal fees increased 50%....
If my math is off, never mind....

Which mean the Yen is worth less now compared to the dollar. I am looking at it from Fern's view. The exchange rate. He is making a big deal that the yen has devalued a little compared to the dollar. So he is excited over saving a penny or 2 on the dollar.

 

[Charles West]

I

Sometimes the peasants don't understand what the policy makers are doing.
Yellen and Powell are very experience and are making decisions us simpletons do not see.

In Japan, the Yen today is 158 to the US dollar. It's highest I'd seen in decades.
Great time for Americans to go to Japan. Charles, use your hotel points. I'm staying at $3,000/night using points.
Anyway, the point is that Japan has been stagnant even with zero interest.
The increasing older Japanese population are frugal and still saving.
It's "innovative" how Japan's FED is allowing the Yen to collapse.
Send in the ugly Americans because we love to spend. American consumption will help boost their economy.

I can't afford a trip to Japan, the air fare would kill me.

 

[Fernando]

Which mean the Yen is worth less now compared to the dollar. I am looking at it from Fern's view. The exchange rate. He is making a big deal that the yen has devalued a little compared to the dollar. So he is excited over saving a penny or 2 on the dollar.

When I paid for my vacation plans few months ago, the Yen was at 139. The Yen has falling 13%. The mighty dollar can buy 13% more.
5% inflation in US and many are whining and crying.
It may be pennies but Trump for sure is upset with what he sees as foreign currency manipulation.
If Japan's FED pump $20 billion to keep the Yen from further devaluing, I call that manipulation.