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  • Fed's Powell heads to Congress with economy at a crossroads

    From reuters.com

    Federal Reserve Chair Jerome Powell will appear in Congress on Tuesday to provide lawmakers an update on an economy still reeling from the pandemic but perhaps poised to take off later this year if the U.S. vaccination program hits its stride. The hearing before the Senate Banking Committee, one of the Fed chief’s mandated twice-a-year appearances on Capitol Hill, is scheduled to begin at 10 a.m. EST (1400 GMT) and will be Powell’s first since Democrats won the White House and control of both chambers of Congress. It is likely to focus on the tension between a pandemic that has claimed more than half a million ... (full story)

  • Post #1
  • Quote
  • Feb 23, 9:21am (29 hr ago) Feb 23, 9:21am (29 hr ago)
Bearish USD
  • Post #2
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  • Feb 23, 9:46am (29 hr ago) Feb 23, 9:46am (29 hr ago)
Quoting Brle110
Bearish USD
Only IF Powell basically says no rate increases until 2022.

If the market believes that the FED may raise rates in 2021 look for a MASSIVE sell off and for DXY to spike.
  • Post #3
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  • Feb 23, 9:52am (29 hr ago) Feb 23, 9:52am (29 hr ago)
Quoting fxsport
{quote} Only IF Powell basically says no rate increases until 2022. If the market believes that the FED may raise rates in 2021 look for a MASSIVE sell off and for DXY to spike.
Powell knows that and he is willing to do anything not to shake the market so even if he knows deep inside that a spike in likely in 2021 he is not saying it.
  • Post #4
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  • Feb 23, 9:54am (29 hr ago) Feb 23, 9:54am (29 hr ago)
Quoting Banditten
{quote} Powell knows that and he is willing to do anything not to shake the market so even if he knows deep inside that a spike in likely in 2021 he is not saying it.
100%
  • Post #5
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  • Feb 23, 9:55am (29 hr ago) Feb 23, 9:55am (29 hr ago)
Quoting Banditten
{quote} Powell knows that and he is willing to do anything not to shake the market so even if he knows deep inside that a spike in likely in 2021 he is not saying it.
On this you and I are in 100% agreement - that's why this "hearing" is nothing but show and frankly a waste of time.

Powell -"the economy is in a fragile state and we will be accomodating with rates until such time that we need to intervein." [this is what I imagine he will say]
  • Post #6
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  • Feb 23, 11:58am (27 hr ago) Feb 23, 11:58am (27 hr ago)
Rate increases?

Fed/ECB/BOJ all are "one trick ponies".

BRRRRRRRRRRRRRRRRRRRRRRR!

I think I'm turning into Not KPMG...........
  • Post #7
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  • Feb 23, 12:59pm (26 hr ago) Feb 23, 12:59pm (26 hr ago)
Quoting fxsport
{quote} On this you and I are in 100% agreement - that's why this "hearing" is nothing but show and frankly a waste of time. Powell -"the economy is in a fragile state and we will be accomodating with rates until such time that we need to intervein." [this is what I imagine he will say]
I think thats just what he said. But cant fool the market in the long run...
  • Post #8
  • Quote
  • Feb 23, 12:59pm (26 hr ago) Feb 23, 12:59pm (26 hr ago)
Quoting UKBanter
Rate increases? Fed/ECB/BOJ all are "one trick ponies". BRRRRRRRRRRRRRRRRRRRRRRR! I think I'm turning into Not KPMG...........
Yeah now may be the time to buy BTC on the smaller retracement...
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