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  • Fed's Powell: Economy performed remarkably well last couple of years

Added at 12:42pm

Added at 12:44pm

Added at 12:44pm

Added at 12:45pm

  • #1
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  • Jul 15, 2024 12:45pm Jul 15, 2024 12:45pm
/6j liked it.....for a couple seconds anyway.
  • #2
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  • Jul 15, 2024 12:47pm Jul 15, 2024 12:47pm
So weakening in the labour market is the yardstick for interest rate cut...is okay let see how it pan out.
ANYTHING GREAT HAS A PRICE
  • #3
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  • Jul 15, 2024 12:48pm Jul 15, 2024 12:48pm
Dollar weakened the more
  • #4
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  • Jul 15, 2024 12:50pm Jul 15, 2024 12:50pm
Quoting Ericedge
So weakening in the labour market is the yardstick for interest rate cut...is okay let see how it pan out.
No surprise there. The same message has been present since the beginning. The labor market was ridiculously oversaturated. Wages were rising far too fast because many small business couldn't find employees. People working at fast food restaurants in my area who made $10 4 years ago were getting $20/hr starting salaries and then leaving 2 weeks after joining for a job paying $22 doing the same thing at the restaurant next door. It was getting out of control.

So, yes, a cooling inflation (aka cooling economy) is going to require the labor force to decrease a bit so that wages can normalize as competition increases. Nothing surprising about that.
  • #5
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  • Jul 15, 2024 12:51pm Jul 15, 2024 12:51pm
Quoting frioslegend
Dollar weakened the more
with due respect sir,the is weak rather it's strong.
ANYTHING GREAT HAS A PRICE
  • #6
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  • Jul 15, 2024 12:52pm Jul 15, 2024 12:52pm
All I can say is that we should be happy the message has been CONSISTENT. If it were suddenly changed to "yes, we feel there has been an overshoot and we are going to reduce ASAP", then you would see massive selloffs in equities. Everyone is seeing the same numbers release. The rate of inflation is slowing. It hasn't dropped dramatically recently (that's a good thing regarding pace for the aforementioned reasons). It supports the "soft landing" narrative that the markets have been pricing in.
  • #7
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  • Jul 15, 2024 1:22pm Jul 15, 2024 1:22pm
  •  Trader#17AC
  • | Status: Unregistered Trader
i dont hear anything changed. same words for a couple times. but treasury yield and dollar start about to rise right now.
  • #8
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  • Jul 15, 2024 1:41pm Jul 15, 2024 1:41pm
fedwatch tool say 97.2% rate cut in september and i dunno why dollar is rising. anyone know what the hell is going on?
  • #9
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  • Jul 15, 2024 1:53pm Jul 15, 2024 1:53pm
Well, whatever was said (or not said), the impact is being felt initially. The pullback in the indices is real. Everything is down 1%+ since the highs of this morning. Also, the VIX finally decided to show up to the party.

Who knows - maybe it is all part of the 10%+ bitcoin surge :-P

It was always going to be a shaky week after last week's CPI rout and PPI pop, but still......
  • #10
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  • Jul 15, 2024 2:21pm Jul 15, 2024 2:21pm
Quoting Catalyst24
fedwatch tool say 97.2% rate cut in september and i dunno why dollar is rising. anyone know what the hell is going on?
No signal today for a July cut.....so enjoy the ride a while longer I guess.
  • #11
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  • Jul 15, 2024 3:04pm Jul 15, 2024 3:04pm
What effect will this have on Gold? because currently price is sitting at ATH
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  •  Trader#9223
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