Powell says it's 'highly unlikely' the Fed will raise rates this year, despite stronger economy

But Powell said more needs to be done, particularly for those in the lower income brackets who have suffered the most.

"We don't have the answer to everything, but the job that we do for the benefit of the public is incredibly important, and we do understand that if we get things right, we can really help people," he said. "If the people who are at the margins of the economy are doing well, then the rest of it will take care of itself.", Fed officials saw GDP rising in 2021 by 6.5%, which would be the fastest growth rate since 1984.

"We and a lot of private sector forecasters see strong growth and strong job creation starting right now," Powell said. "Really, the outlook has brightened substantially.", and said people should continue to wear masks and physically distance to keep the recovery going. While he said he does not worry about financial system stability, he is concerned about ongoing cyberattacks that one day could cause serious damage.

One thing he's not worried about is inflation, which is running around 1.6% now and remains well below the Fed 2% target. The central bank has pledged to keep rates low even if inflation would run somewhat above the target rate for a period of time. When it comes to inflation, Powell said he "like to see it on track to move moderately above 2% for some time. When we get that, that's when we'll raise rates."Sign up for

Bitcoin

I'm calling bullshit!

and that's an incremental difference from a month ago

The Fed won’t have to as the market will do it for them. Look for 2-2.5% this year even 3% possible if the Fed doesn’t interfere. It’s happening either way in my view 90% chance. It’s not a negative over longer term. 60 minutes avoided that question

He has his fixee rate from before the coronavirus crisis why should he?

Stronger economy😆China overtakes US. You read right. International Monetary Fund (IMF), using the more reliable & widely accepted yardstick, Purchasing Power Parity (PPP), determined China's economy at $24.2 trillion compared to America's $20.8 trillion.

Stock market was overtaken by forex market by the amount of transactions per day.. And we will see crypto market overtake forex market soon.. 🙏🔥

He also confirmed that inflation would not spike out of control he wouldn’t allow it.

He said 2023.

Powell isn’t known for keeping his word lol

WallStJesus We know this a complete joke. So in a weak economy we go negative rates. 💩🙃

WallStJesus I heard he does top down with jpowell every fed meeting

GOXRP

Tutes would sink 😉

Surprised i haven’t seen a Bitcoin comment here yet

From not even thinking about even thinking about raising rates to highly unlikely that we will raise rates 🤣🤣

Free enterprise exchange or free commodity order

As long as the country slowly reopens from the COVID pandemic inflation shouldn't be a determining factor in rate increases.

the year is 2034

It’ll cost trillions upon trillions to fight the inflationary wave, arrogance is blinding his thinking

“Trust me” 🤣

The economy isn't doing as good as people think. I work for a health insurance carrier and we are getting triple the terminations that we get enrollments. That means companies are laying more people off than they are hiring.

We used to say in the old days ,don’t fight the Fed .

you keep listening to this Fiend - the cure is worse than the disease Inflation - by the time you figure it out it will be too late silversqueeze

Ksidiii

Sounds like he’s slowly softening the blow. “Highly unlikely” is much more closer to raising rates than “not even thinking about thinking raising rates.”

When Powell said ‘unlikely’, he meant ‘possible’. When he said ‘highly unlikely’, take it as ‘it’s still possible.’ Do expect the markets to push 10 years Treasury yields higher - at least 2% by end of 2nd quarter. 😉

Shocker!

Time for YCC...?

How many times does he have to be reported as saying the same thing. They'll do whats necessary in good time. They might get the timing wrong but they are human.

I am looking for new, good friends

How else will Federal Debt be financed? Rates will be kept low for a longtime.

We need to raise the rates because we need a cushion to fall on in the next recession or crises.

📈📈

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Stocks edge back to kick off earnings week as Powell says U.S. economy at ‘inflection point’Federal Reserve Chairman Jerome Powell said that the economy is going to start growing strongly in the second half of the year, but emphasized that that rebound shouldn’t lead anyone to believe that the central bank would dial up interest rates in 2021. Lol
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Jerome Powell predicts 'very strong' economic growth as U.S. recovers from COVID crashThe Federal Reserve chairman said the outlook for the U.S. economy had 'brightened substantially' in 2021. So it can make Joe look good
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Powell Sees Economy at Inflection PointFederal Reserve Chairman Jerome Powell says output and job growth are poised to accelerate in the months ahead as long as the Covid-19 pandemic retreats. PM me if you’re interested in earning $500 by online trading daily, PM me if you have a phone or PC let’s go ✅ Doubtful Just keep it steady
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