1/TrackRecord's Market Musings😎: Fed Puts Ball Firmly In Congress’ Court
22nd Sep, POWELL: “Many of our programs rely on emergency lending powers that require the support of the Treasury Department and are available only in unusual circumstances.”
2/23rd Sep, POWELL: “Have done basically all of the things that we can think of”
3/24th Sep, POWELL: “While households are spending now, perhaps using what's left of money from the $2.3 trillion package passed by Congress in Mar, the risk is they will go through that money, ultimately, and hv to cut back on spending and maybe lose their home or their lease...
4/...That is the downside risk of no further action. We don't see much of that yet, but it could well be out there in the not-too-distant future"
5/Powell is clearly cognizant of the risks and the U.S. government is not holding up its side of the bargain between the "Fed-Gov marriage" of twin bazookas. We believe the stimulus will eventually arrive and motivations for hiccups are purely political at this point in time.
6/Average Americans are growing restless and as we have been advocating, "Print The Money Or Trigger The Revolution". Powell has clearly thrown the ball into the Govt's court when he declared on the 2nd day of hearing that "We've done basically all the things we can think of".
7/That's not the kind of thing you say out loud. Even when you're out of ammo, you need to pretend the opposite. The context of what Powell is saying is that he wants fiscal policy to do more.
#Fed #JeromePowell #ForexTrading #TRMarketMusings
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.