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  • Fed's Powell: Made Quite A Lot Of Progress On B/ Sheet Runoff, A Ways Still To Go

Added at 10:39am

Added at 10:41am

  • #1
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  • Jul 10, 2024 10:48am Jul 10, 2024 10:48am
"US debt path unsustainable." Take THAT congress (both parties)!

It's a shame more economists of his status can't reverse the tables and use these hearings to hold Congressional members accountable for unchecked spending/policy creation that affect the economy as much/more than anything the FED could do. The FED gets such a bad wrap. They are screamed at to increase the $$ flow during times of hardship and then blamed for doing so and attempting to right the ship on the back end.
  • #2
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  • Jul 10, 2024 11:16am Jul 10, 2024 11:16am
Nothing special FED
  • #3
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  • Edited 12:50pm Jul 10, 2024 12:01pm | Edited 12:50pm
Quoting ffghost
"US debt path unsustainable." Take THAT congress (both parties)! It's a shame more economists of his status can't reverse the tables and use these hearings to hold Congressional members accountable for unchecked spending/policy creation that affect the economy as much/more than anything the FED could do. The FED gets such a bad wrap. They are screamed at to increase the $$ flow during times of hardship and then blamed for doing so and attempting to right the ship on the back end.
It’s clear how political it has become when you were listening to some of the remarks and questions posed to Powell.
The solution is (x).
  • #4
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  • Jul 10, 2024 1:37pm Jul 10, 2024 1:37pm
Quoting Vancarbon
Debt path unsustainable- as it falls on deaf ears . It’s akin to walking off a cliff ( knowingly)
The only difference is that the entire world is on the other side of that cliff, standing on one another's heads in an attempt to keep you from falling to your death.

Just think about how bad it would be for the economic heavyweights holding souch US debt if that debt was somehow no longer; valuable? Game over for them.....so buying continues. Plus, at least today, even the threat of another radical presidency (people though Trump's election would be the undoing of the universe) won't be enough to scare the children from investing in a "strong and stable" (compared to alternative options) US economy.

It has been a good time to be investing in the US...and has been since WW2. The question is, how long will it last?? Standard pullbacks (and maybe one of those 40% drops) aside, the party will probably until after I am dead, so l, for my part, I will not be fighting the tide.
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