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Apr 13, 2024
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it might be that jay powell thinks it's a danger to jay powell, because president trump told me in an interview in february that he would not reappoint jay powell. [laughter] >> that's right. but jay powell's there until 2026. at that point he's another one that's going to be 80 years old. at that point maybe it's time to step back anyway. to your point, yes, maybe he's also trying to protect himself for a potential third term at the fed. i'm not sure why he'd want to stay another term at the fed after, you know, what he's been through, but that's a whole other conversation. one way or the other, i do think that it's inpoint if -- inappropriate for the president to come out and say we're going to get in this rate cut. while it may be pushed off a month, i fully expect it to come. meanwhile, unless the data changes i don't see how the fed can convince everyone that it's necessary to cut rates and stimulate the economy when our economy is functioning on all 12 cylinders and is doing a very fine job are even with rates at 5.25%. which, by the way, you and i know are historically normal.
it might be that jay powell thinks it's a danger to jay powell, because president trump told me in an interview in february that he would not reappoint jay powell. [laughter] >> that's right. but jay powell's there until 2026. at that point he's another one that's going to be 80 years old. at that point maybe it's time to step back anyway. to your point, yes, maybe he's also trying to protect himself for a potential third term at the fed. i'm not sure why he'd want to stay another term at...
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maria: what is transitory when i asked about jay powell here is what he said. >> jay powell fed chairman is talking about a soft landing you do you believe we will see a soft landing. >> i think he is going to do something, to probably help the democrats, i think if he lowers interest rates but you have potential massive inflation again, because the middle east could drive up precise of energy he is not able to do anything but looks to me like trying to lower interest rates for the sake of maybe getting people elected i don't know. maria: you think political going to cut rates. >> i think he is political yeah. maria: would you reappoint jay powell? >> this no, i wouldn't do that. >> you wouldn't. >> no. maria: because? he missed inflation. >> he did miss but i wouldn't be -- >> that was february 4, joel, when president trump said inflation will reignite because of oil how this is playing out. adam: called it right then not many in february earning inflation would pick up. maria: president trump was. >> he called it right at that point, now i think you are seeing a lot more people on the
maria: what is transitory when i asked about jay powell here is what he said. >> jay powell fed chairman is talking about a soft landing you do you believe we will see a soft landing. >> i think he is going to do something, to probably help the democrats, i think if he lowers interest rates but you have potential massive inflation again, because the middle east could drive up precise of energy he is not able to do anything but looks to me like trying to lower interest rates for the...
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Apr 26, 2024
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did he speak with jay powell? is he messaging jay powell? why did he say that? >> if jay powell is taking directions from joe biden we're in a lot of trouble and the problem with inflation is not going to go away anytime soon. it will be with us in november and joe biden will pay for that. maria: yeah. brenda, have you changed the way you invest because inflation remains sticky, because its staying at elevated levels here and it's not -- nowhere near the fed's target of 2%? >> the last time we were talking before the march cpi i remember saying something to you specifically, that if we saw another high print after january, february, things would change and that's exactly what we've seen. we've seen the s&p off 5 and-a-half percent since the march highs. we have the 10 year at 4.7%. i do think the repricing of fixed income has happened. maybe we go up to 4.75 today. i don't think we'll see a pce number that we like but i do think that fundamentally we're going to see the 10 year fall to 3.8 by the end of the year. maria: seems unlikely to me too. brenda, great to
did he speak with jay powell? is he messaging jay powell? why did he say that? >> if jay powell is taking directions from joe biden we're in a lot of trouble and the problem with inflation is not going to go away anytime soon. it will be with us in november and joe biden will pay for that. maria: yeah. brenda, have you changed the way you invest because inflation remains sticky, because its staying at elevated levels here and it's not -- nowhere near the fed's target of 2%? >> the...
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breaking now, jay powell on the defensive. he spoke two hours ago as the fed deals with so many conflicting economic trends and there are concerns with the fed being too political. wait until you hear what powell had to say about that. learn the difference between hard and soft data, when will investors value value stocks? one year ago she gave you two stocks up 220% and 175%, one year ago today. find out where sarah kunst is buying right now. gen-z says they need 1.6 mil to retire in style. the good news they started early. the bad news, they ain't making much traction. here is the question, how much do you need to retire comfortably and tweet me @cvpayne. you don't want to hear my take on the wall street jobs report no matter what the print is on monday. all that and. more on "making money" ♪ charles: there has been a hesitant start to the quarter. this is monster first quarter. let's look at the first quarter one more time, put it in perspective. large cap u.s. stocks up almost 11%. commodities, all kinds of things that w
breaking now, jay powell on the defensive. he spoke two hours ago as the fed deals with so many conflicting economic trends and there are concerns with the fed being too political. wait until you hear what powell had to say about that. learn the difference between hard and soft data, when will investors value value stocks? one year ago she gave you two stocks up 220% and 175%, one year ago today. find out where sarah kunst is buying right now. gen-z says they need 1.6 mil to retire in style....
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Apr 10, 2024
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maria: president trump on jay powell. >> jay powell the fed chairman talking about a soft landing do you believe we will see a soft landing. >> well, i think he is going to do something, to probably help democrats, yeah. i think if he lowers interest rates. but you have the potential of having massive inflation again, because the middle east could drive up the price of energy he is not able to do anything, but looks to me like trying to lower interest rates for the sake of maybe -- getting people elected i don't know. maria: you think he is political going to cut rates -- >> i do i think he is political yeah. maria: would you reappoint jay powell? >> no, i wouldn't do that. >> because? >> he missed inflation. >> did miss he did miss no, i wouldn't be -- >> barry knapp your take on backdrop here, what jay powell needs to do. you know, we saw that jobs number the other day that everybody was celebrating 300 jobs created in march then started really zeroing in realized much job creation was part time, a lot of jobs given to foreign born not american citizens, so can we look at the jobs
maria: president trump on jay powell. >> jay powell the fed chairman talking about a soft landing do you believe we will see a soft landing. >> well, i think he is going to do something, to probably help democrats, yeah. i think if he lowers interest rates. but you have the potential of having massive inflation again, because the middle east could drive up the price of energy he is not able to do anything, but looks to me like trying to lower interest rates for the sake of maybe --...
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Apr 17, 2024
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jay powell's thrown in the towel. there will not be any rate cuts this year because inflation is actually getting worse this year than it did last year. you talked about the border problem and law and order and the crime associated with it as mr. trump has. i got another one for you. joe biden on tax day, which was monday, as you know, joe biden decided that raising taxes is a much better economic growth and opportunity approach than cutting taxes. and says the trump tax cuts just benefited a few wealthy people. i thought it benefited almost every nook and cranny of the economy. now can the house do anything, you know, the kudlow catechism, the laffer catechism on supply-side tax cuts at least stir the pot, at least tickle just a little bit? i always thought lower taxes was a better idea than higher taxes, mr. speaker? >> yeah. you're trying to apply way too much common sense for washington. you know, larry, in the house republicans we have the smallest majority in u.s. history. one vote margin. we're using that becau
jay powell's thrown in the towel. there will not be any rate cuts this year because inflation is actually getting worse this year than it did last year. you talked about the border problem and law and order and the crime associated with it as mr. trump has. i got another one for you. joe biden on tax day, which was monday, as you know, joe biden decided that raising taxes is a much better economic growth and opportunity approach than cutting taxes. and says the trump tax cuts just benefited a...
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Apr 29, 2024
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jay powell wants to keep his job. i'll say it. as blatant as can be. what he is probably waiting for, as we get closer to elections -- charles: wouldn't it be transparent with inflation going in the wrong direction? i, to your point, couple of fomc meetings ago he talked about a surprise jobs report, he mentioned it a couple times. i think he was looking for that to be his cue. 4.1%, that would be his excuse. if he does this without any sort of real trigger, golly. >> i think we will see a trigger because the market, charles, it really has climbed too far too fast and money is expensive now and you and i know what happens when money gets expensive and those credit card bills are piling up and people start having to sell down on their stocks and, so much of the market has been propped up by the vcs and by new companies and once they start going under, they were, jerome powell will have his excuse. he doesn't have to worry about inflation, even though inflation is real and inflation continues to plague us. charles: he said on many occasions listen, we do
jay powell wants to keep his job. i'll say it. as blatant as can be. what he is probably waiting for, as we get closer to elections -- charles: wouldn't it be transparent with inflation going in the wrong direction? i, to your point, couple of fomc meetings ago he talked about a surprise jobs report, he mentioned it a couple times. i think he was looking for that to be his cue. 4.1%, that would be his excuse. if he does this without any sort of real trigger, golly. >> i think we will see...
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Apr 17, 2024
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jay powell now saying rates may be higher for longer. things don't always go according to plan. i love this cartoon from "the new yorker." it illustrates what all investors are hoping for, it reads first goldilocks said the interest rates were too high. then goldilocks said they were too low. in agreement with the federal reserve board, she finally said they were just right. you know what the original story of gold city locks, i guarranty you never heard it. eleanor wrote this story of the three bears in 1831. they were all males, none of them were related, just three friends who fancy a home amongst the dwellings of men. goldilocks by the way was not a young girl. she was an older lady. the bears did not try to satisfy her when she broke into her house. they punished her in variety of gruesome ways, before chucking her off a church steeple. those bears were a nasty bunch. even now although, also a frustrating thing for everyone to even think about this goldilocks scenario. yesterday, jay powell stepped up, he made sure as he was tampering our expectations for cuts to point out
jay powell now saying rates may be higher for longer. things don't always go according to plan. i love this cartoon from "the new yorker." it illustrates what all investors are hoping for, it reads first goldilocks said the interest rates were too high. then goldilocks said they were too low. in agreement with the federal reserve board, she finally said they were just right. you know what the original story of gold city locks, i guarranty you never heard it. eleanor wrote this story...
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jay powell signaled the base case remains, three rate cuts are coming, beginning in june. watch this. >> these recent data do not, however, materially change the overall picture which continues to be one of solid growth, a strong but rebalancing labor market and inflation moving down toward 2% on a sometimes bump hey path. it's too soon to say whether the recent readings represent more than just a bump. we do not expect it will be appropriate to lower our policy rate until we have greater confidence that inflation is moving sustainably down toward 2%. my colleagues and i continue to believe that the policy rate is likely at its peak for this tightening cycle. if t the economy evolves broadl, most see it likely as appropriate to begin lower the policy rate some point this year. maria: joining me is chief investment officer chris zakarelli. what did you take away from powell's comments yesterday? >> i think powell's comments were really interesting. we've had some higher than expected inflation day data so r this year, to call into question whether or not we get the rate cut
jay powell signaled the base case remains, three rate cuts are coming, beginning in june. watch this. >> these recent data do not, however, materially change the overall picture which continues to be one of solid growth, a strong but rebalancing labor market and inflation moving down toward 2% on a sometimes bump hey path. it's too soon to say whether the recent readings represent more than just a bump. we do not expect it will be appropriate to lower our policy rate until we have greater...
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Apr 11, 2024
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powell? anybody else, if trump said that, he would be attacked for trying to sway fed in a certain way, i spoke with james grant yesterday jim grant basically said sure fed is political they are going to do what democrats want. >> i believe the fed itself regardless of potential second term for donald trump is a clear and present danger to our country. >> is politically very much aligned with democratic party i think the fed would you tell us even perhaps revising it is doing something, in the way of a political move would be inclined to read the numbers, and in an interest rate reduction positive way in back of mind threat of another trump presidency. >> there you go, larry do you think the fed gets political cuts rates this year before the election? >> well, most likely, um, think about the bank system, so something very unusual happened yesterday. exxonmobil history all-time high on the same day the bank index is 33% drawdown. i mean, you've got to go back historically that is a very i mea
powell? anybody else, if trump said that, he would be attacked for trying to sway fed in a certain way, i spoke with james grant yesterday jim grant basically said sure fed is political they are going to do what democrats want. >> i believe the fed itself regardless of potential second term for donald trump is a clear and present danger to our country. >> is politically very much aligned with democratic party i think the fed would you tell us even perhaps revising it is doing...
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Apr 30, 2024
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investors are anticipateing jay powell's remarks on inflation and the economy to set the tone for rate cuts down the line. more earnings on the way this morning as well. dow components coca-cola, 3m and mcdonald's out ahead of amazon after the close tonight, apple is out on thu thursday. everything you need to know coming up. european markets are mixed. we have gains in london with the ft 100 up 32, cac quarante and dax negative. in asia markets finished mostly higher. bbest performer was japan,one d. president trump's trial continues this morning. he is planning on campaign events in wisconsin and michigan as the white house tries to play down trump beating biden or neck in neck some states. joining us this morning, mark tepper, joe pinion and fox business' cheryl casone. "mornings with maria" is live right now. ♪ out of my dreams. ♪ get into my car. ♪ get out of my dreams. ♪ get in the back seat, baby. ♪ get into my car. maria: and it is time for the hot topic of the hour. a new harvard poll finds former president trump is the frontrunner in a race between president biden a
investors are anticipateing jay powell's remarks on inflation and the economy to set the tone for rate cuts down the line. more earnings on the way this morning as well. dow components coca-cola, 3m and mcdonald's out ahead of amazon after the close tonight, apple is out on thu thursday. everything you need to know coming up. european markets are mixed. we have gains in london with the ft 100 up 32, cac quarante and dax negative. in asia markets finished mostly higher. bbest performer was...
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i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell said this, too soon, it is too soon to say if recent inflation data is more than a bump. look, this couldn't be clearer, friends, inflation data has been going up since october. powell also said inflation wasn't strictly from demand overheating but look at the government goosing demand from the fed printing other central banks. here is the other, this is us. this is the rest of the world. we are definitely outprinting them. and the last one, powell says i do think monetary poll is working. however even darden restaurants is seeing lower income. diners stay at home. they're saying, hey, we're seeing consumer behavior shifts. that's wall street ease, oops, something is going wrong. charles, back to you. charles: i read that, gerri, families at 150,000 eating at longhorn steakhouse. if you make less than 75,000, you can't afford anymo
i will give you the jay powell quote and let the data give the rebuttal. powell said monetary policy is tight, but look at this, financial conditions are looser now than before they were when the fed started hiking rates. powell said this, too soon, it is too soon to say if recent inflation data is more than a bump. look, this couldn't be clearer, friends, inflation data has been going up since october. powell also said inflation wasn't strictly from demand overheating but look at the...
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Apr 25, 2024
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powell, talk jay powell, force him into rate cuts. you know we know that's a scary path but president biden mentioned cuts more often, i was kind of surprised how much he has mentioned cuts recently? >> well he did mention it in a speech. i thought well that its just going to be such good news to the fed that they won't have to raise and they're going to probably end up lowering. we've seen the fed restating, no, no, we're very, we're very resistent to that and that doesn't play any role in our thinking, but i can't believe the fed isn't sensitive to the possibility if they cut-rates it will be seen as political. because now they have, well it is always been the dual mandate but now you have dueling mandates because now the fed, that was looking to cut might be able to say, well, it's not that inflation has come down the way we like but look, if the economy is going off the cliff, then that would be a reason to support the economy to cut. charles: right. >> but i would be very reluctant to do that, unless they see, maybe the second qu
powell, talk jay powell, force him into rate cuts. you know we know that's a scary path but president biden mentioned cuts more often, i was kind of surprised how much he has mentioned cuts recently? >> well he did mention it in a speech. i thought well that its just going to be such good news to the fed that they won't have to raise and they're going to probably end up lowering. we've seen the fed restating, no, no, we're very, we're very resistent to that and that doesn't play any role...
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Apr 12, 2024
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i tell you what, that's a hell of -- it's so ironic that jay powell comes out with three rate cuts in november, and inflation reads have gone straight the up since then. the credibility part gets weaker and weaker every day. jim, love seeing you, my man. thank you so much. >>> all right, folks, you can see on the screen all the major indices are down, and, of course, we want to look at the nasdaq as a well because the nasdaq is really what's carried us, right? that's the home of these magnificent, amazing companies, amazing stocks. and i gotta tell you with something, if they start to falter because they've carried the s&p, but they certainly have carried nasdaq as well, maybe we are in a lot of trouble. i want to to bring in simplify asset management mike green. i want the start with your note on tech stocks, all right? is. [laughter] and it's a little bit scary here, sticking with the ghostbusters theme. so tech stock growth is going to get destroyed when rates move higher. that's scary. >> well, that is scare ally, but it's actually kind of an ironic tweet. so the concern that peop
i tell you what, that's a hell of -- it's so ironic that jay powell comes out with three rate cuts in november, and inflation reads have gone straight the up since then. the credibility part gets weaker and weaker every day. jim, love seeing you, my man. thank you so much. >>> all right, folks, you can see on the screen all the major indices are down, and, of course, we want to look at the nasdaq as a well because the nasdaq is really what's carried us, right? that's the home of these...
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Apr 12, 2024
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we heard from jay powell, basically two and then one and some are saying none. markets don't like uncertainty and that is what we are seeing in the indices. it is their it is there reflection of uncertainty. neil: leave it to a thin guy to make diet analogies but i will let them go. let me get your take on what he is saying and what austen goolsbee is saying good, the latest economic numbers and instability around the globe and the run up in oil prices put them on pause. >> peter nailed one thing correctly, there were 25 >>s by central bakers all contradicting each other. my biggest worry is they think they are the economy, the central bankers, that they can move 1/4 point and affect inflation. the economy is $25 trillion, 150 million of us go to work trying to do better for our sons and our families. that drives the bus and i think they think too much and one thing that has not been mentioned and i think this is huge and that is the size of government in the sevens in 5 years and all of it is debt. that is inflationary and if that isn't worrisome, worrisome for
we heard from jay powell, basically two and then one and some are saying none. markets don't like uncertainty and that is what we are seeing in the indices. it is their it is there reflection of uncertainty. neil: leave it to a thin guy to make diet analogies but i will let them go. let me get your take on what he is saying and what austen goolsbee is saying good, the latest economic numbers and instability around the globe and the run up in oil prices put them on pause. >> peter nailed...
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so see you've got two catalysts, jay powell speaking today. we'll see what he says. we've got the next cpi number out next wednesday on the tenth. what are your expectations for the two catalysts, what do we hear today from powell? let's start there. >> i think powell is going to say the same as what he's been saying. to me, he's very transparent. i like listening to what he has to say. i think he'll talk about being data dependent but inflation is going in the right direction and so i wouldn't be too surprised even though the futures market has come down on a chance for a cut that we do get one in june. the best case scenario is that we get inflation data prior to that to allow the fed to cut. not that i don't think the econn sustain the rates for longer but i think companies can plan to be more aggressive in the second half of the year if that's the case which will spur on investment and spur on the economy here in the united states. we've got a recovery in china that's helping out a bit. i know you're talking about that a lot. but we've got from an economic standp
so see you've got two catalysts, jay powell speaking today. we'll see what he says. we've got the next cpi number out next wednesday on the tenth. what are your expectations for the two catalysts, what do we hear today from powell? let's start there. >> i think powell is going to say the same as what he's been saying. to me, he's very transparent. i like listening to what he has to say. i think he'll talk about being data dependent but inflation is going in the right direction and so i...
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Apr 30, 2024
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we'll hear from jay powell tomorrow. investors anticipating the the decision tomorrow setting the taupe for potential rate cuts down the line but when and if, we're not sure. joining me now is piper sandler's chief global economist, nancy lazar. nancy, great to see you. >> good morning. maria: by the way, nick timiraos is out with a piece this morn if or,s -- morning, and the title is the fed will signal it has the stomach to keep rates high for longer. your expectations from the federal reserve in this 2-day meeting, today and and tomorrow? >> i'm very glad to hear him say that. this is not a time to be cutting interest rates. i have also indicated financial conditions right now too easy suggesting, if anything, the rate structure could be too low. and so the question is why, and that's because as we've called it, legacy liquidity is still in the hands of the private sector. that is the lag effects of the massive monetary stimulus and the still ongoing, huge budget deficit is supporting corporate revenue which is keepin
we'll hear from jay powell tomorrow. investors anticipating the the decision tomorrow setting the taupe for potential rate cuts down the line but when and if, we're not sure. joining me now is piper sandler's chief global economist, nancy lazar. nancy, great to see you. >> good morning. maria: by the way, nick timiraos is out with a piece this morn if or,s -- morning, and the title is the fed will signal it has the stomach to keep rates high for longer. your expectations from the federal...
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Apr 11, 2024
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did he speak to jay powell? >> i think this issue will continue to haunt him, inflation as well as every single major issue that faces american people, whether it's gas prices, whether it's insurance. they know they're not better off than they were three and-a-half years ago. so the fact that keeps talking and running on bidenomics for republicans i'm like keep saying that because everyone's go goino hang it around your neck. maria: if trump was saying we're going to have a rate cut and it's going to be a month delayed. the mainstream would be all over him. how does know specifics about a rate cut. you're not supposed to be colluding with the federal reserve. there's many people who think the fed will be political and cut rates to help joe biden. >> i don't know why we're talking about rate cuts. if the economy is as strong as this biden administration wants everyone to believe, if inflation is re accelerating, there's no need for a rate cut. the only need for a rate cut at that point in time would be for purely
did he speak to jay powell? >> i think this issue will continue to haunt him, inflation as well as every single major issue that faces american people, whether it's gas prices, whether it's insurance. they know they're not better off than they were three and-a-half years ago. so the fact that keeps talking and running on bidenomics for republicans i'm like keep saying that because everyone's go goino hang it around your neck. maria: if trump was saying we're going to have a rate cut and...
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Apr 17, 2024
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maria: i noticed jay powell says overtime, overtime, will get to the target overtime. he is signaling it almost feels like he is recognizing he's not going to get to 2% anytime soon on inflation, what are your thoughts on the feds moves. >> yesterday was a step in the wrong direction in terms of the feds policy. it looks as if the fed is starting to guide for hire for longer but the reality and the perspective of asset leases kowtowing to physical dominance this is a fed that is going to accept implicitly is accepting much higher than 2% inflation that's likely to do that for quite a while. maria: what will that mean for rates is there a chance that he hikes rates were three rate cuts off the table in your view. >> would you look at 100 years of data whatever the monetary authority of physical dominance that the structurally bullish dynamic for at-risk assets stock, credit and parish dynamic for the bond market. i think that's exactly what we saw this far throughout 2024. maria: kowtowing toward fiscal policy accepted the fact that this buddy discontinuing it inflation
maria: i noticed jay powell says overtime, overtime, will get to the target overtime. he is signaling it almost feels like he is recognizing he's not going to get to 2% anytime soon on inflation, what are your thoughts on the feds moves. >> yesterday was a step in the wrong direction in terms of the feds policy. it looks as if the fed is starting to guide for hire for longer but the reality and the perspective of asset leases kowtowing to physical dominance this is a fed that is going to...
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Apr 17, 2024
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jay powell signaling rates will be higher for longer if inflation persists. here he is. watch. >> we said that we'll need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data have not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. that said, we think policy is well positioned to handle the risks that we face, if be the higher inflation does persist we can maintain the current level of restriction for as long as needed. maria: your reaction, ryan? >> be the it's not broke, don't fix it. i think that's what you're seeing right now. look, we've had -- blew my mind but we saw the gdp number come in for the quarter, the atlanta fed at 2.8% for the first quarter, that's phenomenal gdp growth, better than last decade, that's for sure. we saw retail sales number on monday was better than expected. people are spending money. employment markets is hot. the other wild card is oil prices are up 20% this year, i think that's problematic. i th
jay powell signaling rates will be higher for longer if inflation persists. here he is. watch. >> we said that we'll need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data have not given us greater confidence and instead indicate that it's likely to take longer than expected to achieve that confidence. that said, we think policy is well positioned to handle the risks that we face, if be the higher inflation does...
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>> jay powell was asked this question on friday and the markets were closed. are you too transparent? and he said i don't think so. they like coming out and doing all these talks but i think you're right, sometimes it can be confusing. i will say what is good about this fed speak the markets came into this year asking, begging for six rate cuts and at least now finally they're looking at 2 1/2 rate cuts. so they're getting more in line with what the -- larry: i never seen half a rate cut. what is half a rate cut? you have to help me on that. kevin cramer you may not know what half a rate cut is, you know something about oil coming up from north dakota. >> i do. larry: we're seeing a pretty big rally, the best since december i think, even further back, october. west texas, yes. brent crude, yes. what do you make of that? what's going on here? >> well, what's happening, really, it gets to the point of what's making this inflation so sticky. energy prices, high energy prices will add to the inflation of everything we grow, produce, manufacture, move from one plac
>> jay powell was asked this question on friday and the markets were closed. are you too transparent? and he said i don't think so. they like coming out and doing all these talks but i think you're right, sometimes it can be confusing. i will say what is good about this fed speak the markets came into this year asking, begging for six rate cuts and at least now finally they're looking at 2 1/2 rate cuts. so they're getting more in line with what the -- larry: i never seen half a rate cut....
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Apr 10, 2024
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ask about powell's leadership in the fed, you've defended jay powell throughout all of this, the transitory kerfuffle,. >> i didn't defend him during transitory. i have been backing jay powell, i have. charles: but is he messing it up? >> not so much he is messing it up. i'm not some huge powell defender, don't get me wrong. we're seeing goods deflation come down really hard, charles. the price for travel and recreation, households are saying we cannot pay for any of this. in fact we're buying less food. charles: right. >> he will maintain a tight stance into job losses. so he will still be blamed for a policy error if he ends up with something like stagflation light which is what we're starting to look at, charles. charles: you were predicting on this qt they would have to make adjustments. >> yes. charles: high-five warranted. apparently they are, are they going to stop buying mortgage-backed securities all together? >> they gave a lot more details in the minutes just now. know, they said they didn't. this is the lori logan plan with a twist. lori logan maintained we can begin to shrink t
ask about powell's leadership in the fed, you've defended jay powell throughout all of this, the transitory kerfuffle,. >> i didn't defend him during transitory. i have been backing jay powell, i have. charles: but is he messing it up? >> not so much he is messing it up. i'm not some huge powell defender, don't get me wrong. we're seeing goods deflation come down really hard, charles. the price for travel and recreation, households are saying we cannot pay for any of this. in fact...
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Apr 16, 2024
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charles: right before the show started jay powell out with some comments. listen, the s&p and the nasdaq were down. we're drifting just a little bit higher. i don't like to see the federal reserve seemingly come to the rescue of the market. i hope that is not what he was doing. i had this conversation with phil. retail sales on the surface they look great but there were some individual names in there that, really sectors that were actually down. people, to me, discretionary spending is all about. so okay, you take bobby joe and millionaire cousin together they seem very strong. individually they seem very selective. where are we now? can the individual households right now actually carry this economy? >> there is definitely a bifurcation going on, charles, with the consumer. higher end consumers have slowed their spending a little bit but it is still elevated compared to what we were couple years ago. it is the lower earned consumer is down to recessionary levels at this point in time. definitely a difference between the two spenders but your question, can
charles: right before the show started jay powell out with some comments. listen, the s&p and the nasdaq were down. we're drifting just a little bit higher. i don't like to see the federal reserve seemingly come to the rescue of the market. i hope that is not what he was doing. i had this conversation with phil. retail sales on the surface they look great but there were some individual names in there that, really sectors that were actually down. people, to me, discretionary spending is all...
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big news, jay powell will speak at noon today. do you expect him to say something that reverses the inflation fear the stripping markets? >> both fed president yesterday talking about financially seeing rate hikes this year because we've seen harder than expected inflation, oil prices $85 a barrel, a big number but what bloom my mind is looking at for gdp growth it is up to 2. 8%. that's pretty awesome growth for the first quarter of the year revised up to 3.4% from last quarter, fourth 1:45,023 so i think to see the fed talk a little more hawkish and less dovish because my concern is with harder than expected economy which we do it the most dangerous thing the fed can do is start cutting rates too early which is like adding gasoline to an economy that's rocking and rolling, why screw it up. maria: we've got the catalyst of powell but next wednesday another cpi in the last cpi was harder than expected, we got these outside events happening in terms of oil like the bridge collapsed in baltimore, the hostilities in the red sea. oil
big news, jay powell will speak at noon today. do you expect him to say something that reverses the inflation fear the stripping markets? >> both fed president yesterday talking about financially seeing rate hikes this year because we've seen harder than expected inflation, oil prices $85 a barrel, a big number but what bloom my mind is looking at for gdp growth it is up to 2. 8%. that's pretty awesome growth for the first quarter of the year revised up to 3.4% from last quarter, fourth...
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jay powell signaled the base case remains 3 rate cuts are coming beginning in june. listen to this. >> reporter: these recent data, and strong but rebounding, inflation moving down 2%. maria: harder than expected numbers. >> i'm not surprised. palace turning everything back to normal. we've had conflicting data and service numbers are down, and investors react what they are expecting. that's driving movement in the market. that is why think between a great first quarter and expectations that powell was not going to lower rates was what happened with the markets this week. maria: what do you think in terms of the second court. will we see momentum continue you think? >> second quarter, we have a great second half in terms of growth of the economy. it is difficult to keep up the pace this first quarter and there are opportunities in the market and ways to position your portfolio in order to take advantage of where we are. i would say things like unicycle bonds. i'm not sure about anyone else but i can't see taxes going down. i can see taxes going up at some point in th
jay powell signaled the base case remains 3 rate cuts are coming beginning in june. listen to this. >> reporter: these recent data, and strong but rebounding, inflation moving down 2%. maria: harder than expected numbers. >> i'm not surprised. palace turning everything back to normal. we've had conflicting data and service numbers are down, and investors react what they are expecting. that's driving movement in the market. that is why think between a great first quarter and...
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Apr 17, 2024
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after jay powell signaled rates will be higher for longer completion process. watch. >> we have said that the fomc we will need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data has clearly not given us greater confidence and instead indicates likely to take longer than expected to achieve the confidence. that said we think policy is well-positioned to handle the risks that we face a fire inflation does persist we can maintain the current level of restriction for as long as needed. maria: joining me now market rebellion cofounder pete najarian, great to see you thank you so much for being here, your reaction to powell and what you're expecting for rates this year. >> is very interesting. the beginning of the year you go back to january and people talk about five cuts, six cats and some as high as seven cuts. the reality that inflation is much stickier than everybody was projecting including the fed it is an interesting process that they have to go through right now because now are starting t
after jay powell signaled rates will be higher for longer completion process. watch. >> we have said that the fomc we will need greater confidence that inflation is moving sustainably toward 2% before the appropriate to ease policy. the recent data has clearly not given us greater confidence and instead indicates likely to take longer than expected to achieve the confidence. that said we think policy is well-positioned to handle the risks that we face a fire inflation does persist we can...
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Apr 18, 2024
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signaled rates would be higher loaning if inflation persists every time jay powell speaks he says "overtime" will get there overtime, giving himself room there. >> without a doubt with inflation accelerating over the course last few months to point 0.4% month-over-month data now consistently, i don't see any cuts this year in fact i do think they are going to talk about a hike i don't know will hike but i think it is at least going to be a discussion, within the fed. but market obviously, over this quarter so far only about three weeks in has not liked the fact rate cuts pushed back market down 4%. >>. maria: down 5% second quarter a rough week for second quarter after very strong first quarter. mark: like nvidia sold of this week, some of the invincible toxin last year through first quarter showing that they are mortal can be taken down obviously, nvidia way up over the course last few years look. this is spooking investors to be expected you would expect a drawdown to the tune of 14, 15, 16% election year really saw nothing the first quarter maybe the beginning of it. maria: i am wonderin
signaled rates would be higher loaning if inflation persists every time jay powell speaks he says "overtime" will get there overtime, giving himself room there. >> without a doubt with inflation accelerating over the course last few months to point 0.4% month-over-month data now consistently, i don't see any cuts this year in fact i do think they are going to talk about a hike i don't know will hike but i think it is at least going to be a discussion, within the fed. but market...
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Apr 30, 2024
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federal reserve chairman jay powell says inflation will come down over time. what does that mean for the timing of rate decisions. the word on wall street panel is here with expectations. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ i'm better when i'm pes dancing, yeah, yeah. ♪ i'm better when i'm dancing, yeah, yeah. ♪ we can do this together. ♪ i bet you feel better when you're dancing, yeah, yeah, (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go. maria: welcome back. breaking news overnight, columbia protesters breaking into hamilton hall at columbia, an academic building, barricading themselves inside. earlier in the day negotiating between school officials and protesters broke down, 12 hours after the deadline passed. we're following this breaking news development all morning l
federal reserve chairman jay powell says inflation will come down over time. what does that mean for the timing of rate decisions. the word on wall street panel is here with expectations. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ i'm better when i'm pes dancing, yeah, yeah. ♪ i'm better when i'm dancing, yeah, yeah. ♪ we can do this together. ♪ i bet you feel better when you're dancing, yeah, yeah, (traffic noises) (♪)...
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Apr 26, 2024
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maria: would you reappoint jay powell. >> no i would not do that. >> because he missed inflation? >> he did miss but no i would not be inclined. maria: your thoughts in terms of the president's biden trump getting involved in fed policy. >> this seems like political speculation. it would be very difficult to get that through congress and overall fed policy around election and policy in general has not really taken a political stance but we think it would be difficult to get that through congress. maria: at this point there's a lot of betting going on whether or not the fed will lower walk and one point i made the closer we get to november the less likely they will cut rates because they do what appear political in any way in your thoughts whether or not were going to get a rate cut. >> we think there could be one or two rate cuts this year in the market was priced into the futures market. if you go back and look at the history of the fed back to the early 60s what you find the fed has shown no hesitation to either raise rates or cut rates late in the year during a presidential ele
maria: would you reappoint jay powell. >> no i would not do that. >> because he missed inflation? >> he did miss but no i would not be inclined. maria: your thoughts in terms of the president's biden trump getting involved in fed policy. >> this seems like political speculation. it would be very difficult to get that through congress and overall fed policy around election and policy in general has not really taken a political stance but we think it would be difficult to...
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>> jay powell was asked this question on friday. it was good friday and the markets were closed. they said are you too transparent? he said i don't think so. they like coming out and doing these talks. but i think you're right, sometimes it can be confusing. what is good about this fed speak, the markets came into the year asking, begging for six rate cuts and at least now finally they're looking at two and-a-half rate cuts so they're getting moread in line with what the fed has said. la.larry: never seen it happen. kevin cramer, you know somethinb about oil coming up from north dakota. we're seeing a pretty big rally, the best sinces december, i think, or even further back, october.the west texas, yes. brent crude, yes. what do you make of that? what's going on here? >> well, what's happening is really it gets to the point of what's making this inflation so sticky. energyk so prices, high energybe prices will add to the inflation of everything we grow, produce, manufacture, move from one place to another place whether receiving it or whether you're sending it to another market.
>> jay powell was asked this question on friday. it was good friday and the markets were closed. they said are you too transparent? he said i don't think so. they like coming out and doing these talks. but i think you're right, sometimes it can be confusing. what is good about this fed speak, the markets came into the year asking, begging for six rate cuts and at least now finally they're looking at two and-a-half rate cuts so they're getting moread in line with what the fed has said....
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Apr 30, 2024
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we'll obviously preview the fomc meeting, a special guest says jay powell is hapless and dissatisfactory. investing lessons from the movie the naked gown. why have college protests been allowed to get out of control. why americans are real influencers. not just peddling stuff on social media but dictating the control of our own lives. all that and so much more on "making money". ♪. charles: all right, so earnings season stock market leadership was supposed to sway away from the "magnificent seven" to all the other names. now there are names in tech, but even outside of tech but after stumbling for most of the month, folks, we can see now, well "the magnificent seven," most of these behemoths regained their stride. we saw it last week with tesla. nvidia is looking great. the only one of course still struggling here a little bit is meta. for the most part most of them started a trend a little bit higher here. here's the thing, jpmorgan says the megacap rally is masking a new reality, higher for longer at the federal reserve. remember last summer we started hearing higher for longer the m
we'll obviously preview the fomc meeting, a special guest says jay powell is hapless and dissatisfactory. investing lessons from the movie the naked gown. why have college protests been allowed to get out of control. why americans are real influencers. not just peddling stuff on social media but dictating the control of our own lives. all that and so much more on "making money". ♪. charles: all right, so earnings season stock market leadership was supposed to sway away from the...
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Apr 11, 2024
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what even though jay powell says they are. oh, jay powell is wrong. first time that happened. charles: deflation is something you talked about as a possibility. that is not on anyone at the fed's bingo card right now. what would create that situation? >> well for the first time in the modern history of the data that begins in 1959, the m2 money supply is contracting. changes in the money supply are highly correlated with a lag, wait year, year-and-a-half, what inflation will be in the future. when the money supply is contracting that points at the very least to low inflation and possibly to deflation. now the economy has a lot of inertia and a lot of momentum. actually getting deflation it will be pretty hard to see but that is what any sensible model would forecast and in fact if you look at just the goods portion of consumer price index, about 40% of basket, excluding services just looking at goods, that is out right deflation for a year. not like it can't happen. it has to happen to the rest of the basket. charles: we have less than a minute to go, in that respect, ride thi
what even though jay powell says they are. oh, jay powell is wrong. first time that happened. charles: deflation is something you talked about as a possibility. that is not on anyone at the fed's bingo card right now. what would create that situation? >> well for the first time in the modern history of the data that begins in 1959, the m2 money supply is contracting. changes in the money supply are highly correlated with a lag, wait year, year-and-a-half, what inflation will be in the...
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of course that is when jay powell and company came to the rescue. despite growing calls of anxieties out there, wall street seems to get more and more bullish every day. wells fargo today are looking for a melt-up in the second half of the year. new target, 5235. i'm not sure if that is the top target but that is inkrieging. that is long way from where they were. they made a massive adjustment. earnings $242. here is what they're looking at. a.i. enthusiasm. easing of borrowing cost. political outcomes in support of greater m&a. sound like they think trump will win. anyway, wall street is excited. if you go back to earnings, we're essentially going back to talk to "the magnificent seven" and a few other stocks. the top 10 markets in the market according to bank of america are still going to do all the heavy lifting when it comes to earnings. again does this mean you keep buying the dip and no specific names and not broadening out our your portfolio. mr. cool breeze, phil blancato. >> i can try. charles: sounds to me wall street still wants to have i
of course that is when jay powell and company came to the rescue. despite growing calls of anxieties out there, wall street seems to get more and more bullish every day. wells fargo today are looking for a melt-up in the second half of the year. new target, 5235. i'm not sure if that is the top target but that is inkrieging. that is long way from where they were. they made a massive adjustment. earnings $242. here is what they're looking at. a.i. enthusiasm. easing of borrowing cost. political...
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jay powell on friday he is not in ready to cut-rates but what wilt happen when the jobs report come out? at the fomc meeting he seemed like he want ad excuse to cut rates. we'll be right back. again, good stuff, man. ♪ (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients' portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instan
jay powell on friday he is not in ready to cut-rates but what wilt happen when the jobs report come out? at the fomc meeting he seemed like he want ad excuse to cut rates. we'll be right back. again, good stuff, man. ♪ (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our clients'...
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Apr 11, 2024
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larry: you're sitting on, taylor riggs, said this talking outside on the 20th floor, jay powell's new favorite thing, core services ex-rents. if you don't like it you don't like it but that is supposedly his new rate. it is up 8.2% the last few months at annual rate. the other measures are up at 4% at annual rate. wait, market price indicators, wayne angell, manley johnson, crbs, goldman sachs, those are booming, bonn rates are rising again. what is the case, jason, a savvy investor like you? >> look at financial assets, bitcoin, gold. larry: yeah. >> stocks, credit spreads are tight as a drum. everything is telling you that financial conditions are easy. the case is getting worse for the fed to ease, not better. larry: are you kidding? >> yeah. larry: i just want to about back, reading -- you read larry lindsey. brilliant economist. great fun to read larry lindsey. old friend, dear friend. he has not only changed his mind, he thinks -- i don't choir what the forward futures people are wrong, they have been wrong for 300 years, they will be wrong this year. now they're moving it to se
larry: you're sitting on, taylor riggs, said this talking outside on the 20th floor, jay powell's new favorite thing, core services ex-rents. if you don't like it you don't like it but that is supposedly his new rate. it is up 8.2% the last few months at annual rate. the other measures are up at 4% at annual rate. wait, market price indicators, wayne angell, manley johnson, crbs, goldman sachs, those are booming, bonn rates are rising again. what is the case, jason, a savvy investor like you?...
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Apr 18, 2024
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i guess all of them are facing jay powell and company. they say he is too excited. kelly o'grady with us with more on what we call powell's pom pom dilemma. >> reporter: powell is in a tough spot. in december, he had pom-poms out, market was cheering, they celebrated along with him. there is bloomberg article that the fed chair ignited that rally. it signaled we would see rate cuts coming this year. we're seeing the second act plot twist if you will when it comes to the inflation story. that bloomberg piece also pointed to higher prices in housing, insurance, commodities as a big driver of that shift. look at crb index. it tracks commodity seconds to for context. we're right back up to almost a two-year high. you see that spike right there. meanwhile i want you to take a look at the atlanta fed wage tracker. this right here, is a really, really steep decline. so nominal wages are still growing but at a much slower rate. so that means workers, they will likely feel the resurgence in the inflation rate more cleanly. we also got another key piece of economic data this
i guess all of them are facing jay powell and company. they say he is too excited. kelly o'grady with us with more on what we call powell's pom pom dilemma. >> reporter: powell is in a tough spot. in december, he had pom-poms out, market was cheering, they celebrated along with him. there is bloomberg article that the fed chair ignited that rally. it signaled we would see rate cuts coming this year. we're seeing the second act plot twist if you will when it comes to the inflation story....
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by the way, i'm glad you brought up participation pause with i've listened to jay powell in speeches, and i feel like this is one of the things he looks at more than anything else because this really is what -- if people are looking for work with as the pendulum swings back to the employer, the employer can hire, but he or she doesn't have to worry about spending more money, which is what the fed wants. jay powell wants a soft landing, he wants it bad, worse than anything else. >> legacy is very important, yeah. charles: particularly after blowing the transitory thing. i think investors know this, that the fed will be very reluctant to stay higher for longer. so for now, you're still at a june rate cut. >> yeah, we're still in the june rate cut camp, charles. i don't think the economy necessarily needs a rate cut. the economy is interest rate insensitive. a 25 point rate cut isn't going to do anything to the economy. i think what it does though is just allows them some breathing room to say, or you know what? 5.5% is way, way into restrictive territory, let's get a little bit closer t
by the way, i'm glad you brought up participation pause with i've listened to jay powell in speeches, and i feel like this is one of the things he looks at more than anything else because this really is what -- if people are looking for work with as the pendulum swings back to the employer, the employer can hire, but he or she doesn't have to worry about spending more money, which is what the fed wants. jay powell wants a soft landing, he wants it bad, worse than anything else. >> legacy...
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Apr 27, 2024
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powell may say give and it feels like he wants to cut interest rates but how can he and inflation is not where he wants it? i'm with the spike in prices continues elevated. was he going to give us guidance? how will he manage that in this meeting? >> i hope they stop giving us guidance. the last several years policymakers should keep talking yoshould keep giving their forecast helme how many cups ofg the upcoming year? i think it has been a policy error when they talked in december that all of these costs to come inflation was beaten. they talked on the policy rate and the inflation serve as my best advice that should stop giving forward guidance. the most important power the power tool the bank has it's not actually it's printing press it's it's credibility i worry a lot the credibility has been strained by these errors that are systematic about prices, about the real economy per help when chairman powell and his colleagues with this upcoming week they talk a little less and they think a little bit more. the world is a mess out there. making crazy forecasts is only going to make the
powell may say give and it feels like he wants to cut interest rates but how can he and inflation is not where he wants it? i'm with the spike in prices continues elevated. was he going to give us guidance? how will he manage that in this meeting? >> i hope they stop giving us guidance. the last several years policymakers should keep talking yoshould keep giving their forecast helme how many cups ofg the upcoming year? i think it has been a policy error when they talked in december that...
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lauren: jay powell will speak at stanford university. any nuances on the criteria needed for a rate cut. stuart: even the nasdaq turned around. thank you very much. now this. donald trump knows how to fine-tune his campaign. his rallies perfect to the news and issues of the day. biden plods along blaming republicans for the border mess and claiming we have the best economy in the world. voters are turned off by this because it's obvious political spin. what a contrast from trump last night at rallies in wisconsin and michigan, called for a crystal visibility day. the transgender visibility day on easter sunday, the most sacred day of the christian calendar. and received thunderous applause. when when did he get thunderous applause? trump went on to address another big issue. the murder of jonathan diller. he was gunned down by violent couples with long rap sheet. trump visited the family. biden didn't call. trump said, quote, i'm going to indemnify all police officers to protect them from being destroyed by the radical left, q the thunde
lauren: jay powell will speak at stanford university. any nuances on the criteria needed for a rate cut. stuart: even the nasdaq turned around. thank you very much. now this. donald trump knows how to fine-tune his campaign. his rallies perfect to the news and issues of the day. biden plods along blaming republicans for the border mess and claiming we have the best economy in the world. voters are turned off by this because it's obvious political spin. what a contrast from trump last night at...
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Apr 30, 2024
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do you think jay powell will support biden before the election by cutting rates? >> i hope not. there's no reason to cut rates. there won't be a reason for the rest of the year. i've not been on that rate cut training. i was early in saying there will not be any rate cuts this year. if you wants to cut interest rates, a time we are seeing inflation go up and help the president, whoever wins that election in january of 25 is going to be handed a real big plate of you know what because that's when the wheels are going to come off. we are going to try to keep this together with duct tape and band-aids to get through november but once that happens, we will come out from behind the curtain and you will see what is there, $35 trillion in debt, trillion dollars in debt every hundred days, very big problem, consumers slowing down, inflation taking higher. i wouldn't want that to be my job for $1 million. stuart: an extra trillion dollars of debt every day. always good, thank you, see you again soon. lahren is back looking at the movers and let's start with marathon digital. >> bitcoin s
do you think jay powell will support biden before the election by cutting rates? >> i hope not. there's no reason to cut rates. there won't be a reason for the rest of the year. i've not been on that rate cut training. i was early in saying there will not be any rate cuts this year. if you wants to cut interest rates, a time we are seeing inflation go up and help the president, whoever wins that election in january of 25 is going to be handed a real big plate of you know what because...
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if jay powell says there' s insufficient progress on inflation how do you get a stock market rally? >> i think inflation is dictating fed policy as opposed to fed policy with inflation. last quarter, 3.4.4 and we annualized that, looking at 4.8 cpi, different from where we are sitting now. and let's drop rates, talk about a lot of the same things like inflation is transitory. things like bitcoin and metal minors do well and the economy will go forward. i see inflation rising, that is the cause of inflation. stuart: i will stick with bitcoin and gold. where is the movers? alcoa used to be a big stock, into that. >> there up today, and president biden called for tripling of tariffs on chinese, steel and aluminum imports from 7.5%. 's proposal is 25%, good for domestic producers so companies like alcoa are up sharply. stuart: nike, adidas reported, didn't they? lauren: great numbers out of germany, old shoes are new again like the gazelle and samba. rising tide lifting all boats. that's why nike and other stocks are up. nike has a problem and the ceo mentioned it. work from home. there
if jay powell says there' s insufficient progress on inflation how do you get a stock market rally? >> i think inflation is dictating fed policy as opposed to fed policy with inflation. last quarter, 3.4.4 and we annualized that, looking at 4.8 cpi, different from where we are sitting now. and let's drop rates, talk about a lot of the same things like inflation is transitory. things like bitcoin and metal minors do well and the economy will go forward. i see inflation rising, that is the...
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>> i don't know when they ever had it but they went over the top when jay powell printed $9 trillion distorting every thing in the latest distortion is who wants to sell a house that is 3% mortgage when traded in for 7%. %. that 3% mortgage was engineered by one man and his whims and its haunting a lot of the housing market and where it stops beats the heck out of me. i don't think they do anything for anybody. we are the engine of the economy and we do a heckuva job on a daily basis. stuart: got it, thanks for being with us, see you again soon i hope. stocks moving this morning, wayfarer. lauren: they are raise to outperform and an $80 price target basically says this is a company that has its blank together. they've initiated two years, $2 billion of cost cutting and the home furnishing market will recover the second half of this year so it is coming, it's here and wayfarer will be one of the few retails that will benefit from it. stuart: levi strauss, one of the most woke companies in the world. they've raised their annual profit forecast. >> because of cost cutting. stuart: 17%.
>> i don't know when they ever had it but they went over the top when jay powell printed $9 trillion distorting every thing in the latest distortion is who wants to sell a house that is 3% mortgage when traded in for 7%. %. that 3% mortgage was engineered by one man and his whims and its haunting a lot of the housing market and where it stops beats the heck out of me. i don't think they do anything for anybody. we are the engine of the economy and we do a heckuva job on a daily basis....