Federal Reserve new Chairman Jerome Powell

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Offline jofortruth

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Federal Reserve new Chairman Jerome Powell
« on: February 05, 2018, 04:53:45 PM »
https://www.cnbc.com/2018/02/05/powell-takes-reins-at-the-fed-amid-market-selloff-jump-in-yields.html



Quote
Jerome Powell takes the oath during a swearing-in ceremony February 5, 2018 at the Federal Reserve in Washington, DC.



Interesting that the market plunges on this same day Janet Yellen leaves the Fed as Chairman. A little exit gift? Deep state showing their sick asses again trying to blame it on Trump? Ha! This will not work either because the deep state is now exposed for all to see!
http://forum.prisonplanet.com/index.php?topic=320784.msg1636655#msg1636655


The deep state is in big trouble. They will continue acting like spoiled children until they are taken down totally due to their crimes for decades against the American people!
http://forum.prisonplanet.com/index.php?topic=320784.0
Don't believe me. Look it up yourself!

Offline jofortruth

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Re: Federal Reserve new Chairman Jerome Powell
« Reply #1 on: February 06, 2018, 12:36:35 PM »
Janet Yellen exits the Fed on Friday amid heavy praise and bitter criticism

https://www.cnbc.com/2018/02/02/yellen-exits-the-fed-today-amid-both-heavy-praise-and-bitter-criticism.html

Dow plunges 666 points -- worst day since Brexit
http://money.cnn.com/2018/02/02/investing/stock-market-today-dow/


Interesting!

Don't believe me. Look it up yourself!

Offline jofortruth

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Re: Federal Reserve new Chairman Jerome Powell
« Reply #2 on: February 06, 2018, 04:21:54 PM »
Fed Chair Powell's Admission: "The Fed Has A Short Volatility Position" (Aka admits the federal reserve has kept the stock market from crashing since 2012)
https://www.zerohedge.com/news/2018-01-05/fed-chair-makes-striking-admission-we-have-short-volatility-position
https://www.federalreserve.gov/monetarypolicy/files/FOMC20121024meeting.pdf


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W]hen it is time for us to sell, or even to stop buying, the response could be quite strong; there is every reason to expect a strong response. So there are a couple of ways to look at it. It is about $1.2 trillion in sales; you take 60 months, you get about $20 billion a month. That is a very doable thing, it sounds like, in a market where the norm by the middle of next year is $80 billion a month. Another way to look at it, though, is that it’s not so much the sale, the duration; it’s also unloading our short volatility position.


Ah yes, unloading the Fed's "short volatility position". Maybe someone can ask Powell at the next FOMC press conference just where that stands today, and whether he is still as skeptical the Fed will succeed in unwinding its balance sheet, as he was in October 2012:

My third concern—and others have touched on it as well—is the problems of exiting from a near $4 trillion balance sheet. We’ve got a set of principles from June 2011 and have done some work since then, but it just seems to me that we seem to be way too confident that exit can be managed smoothly. Markets can be much more dynamic than we appear to think.

...

When you turn and say to the market, “I’ve got $1.2 trillion of these things,” it’s not just $20 billion a month— it’s the sight of the whole thing coming. And I think there is a pretty good chance that you could have quite a dynamic response in the market.

Don't believe me. Look it up yourself!