Powell Confirms July Rate Cut | Metals Mine

  • Powell Confirms July Rate Cut

    From blogs.uoregon.edu

    Federal Reserve Chairman Jerome Powell yesterday did not use his Congressional testimony to walk back market expectations for easier policy. Instead, he effectively confirmed that the Fed intended to cut rates at the end of this month. The Fed is taking out insurance against increasing downside risks given that the cost of that insurance is cheap given low inflation. Eventually future rate cuts will have to be about the data not just the risks. Powell left little doubt about his policy intentions. Importantly, Powell said that the downside risks that had vexed the Fed at the June FOMC meeting had not waned. Those ... (full story)

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OnlineAddict
Jul 11, 2019 12:37pm
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Quoting TraderTero
Did not confirm anything. Today's numbers confirmed that there will be no rate cut in July.
He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers.

And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
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kuldeep4350
Jul 11, 2019 12:26pm
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ya the bloody market maker wants his statement about rate cut but he not tell this statement so that bloody media make rumor like this of rate cut so that they manipulate the market and suck retail trader money
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TraderTero
Jul 11, 2019 12:14pm
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Did not confirm anything. Today's numbers confirmed that there will be no rate cut in July.
echo1
Jul 11, 2019 12:38pm
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Quoting kuldeep4350
ya the bloody market maker wants his statement about rate cut but he not tell this statement so that bloody media make rumor like this of rate cut so that they manipulate the market and suck retail trader money
sorry but you are not important, neither am I. Retail traders make up a very small amount of money out of the whole FX market. Even if no retail traders participated the market would go on without. Yes retail traders have an impact but its very small.
The sooner you accept that the market is not against you, but its you against you, the sooner you will be successful and less stressed. The market will do what it will do regardless you have a position or not... think about that!
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TraderTero
Jul 11, 2019 12:48pm
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Quoting OnlineAddict
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
OnlineAddict
Jul 11, 2019 12:57pm
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Quoting TraderTero
{quote} FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
Or you can prevent a collapse(well, rather delay it) by easing during an overheat of economy, which is now.
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ayub11
Jul 11, 2019 12:37pm
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Try to interpret the chart & then you'll find clue that market makers are going soon in action.
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bshappens
Jul 12, 2019 7:07am
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Quoting RossEdwards
{quote} Im inclined to agree with you. Why have we seen equities rise consistently? I would suggest its because 2/3 of buyers on S&P and Dow are companies buying back their shares from surpluses created by the Trump tax breaks. This is not real investor demand and back in the day it would have been illegal market rigging.
You mean in Gordon Gekko's days...
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NotAtrader
Jul 11, 2019 12:53pm
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All this game begins to be pretty annoying. Anyone with the necessary portion brain in his head would understand that this is a game and the game makers want You to play this game so that they can take Your money.
This is already quite funny and it will end in a big surprising move.
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RossEdwards
Jul 12, 2019 5:28am
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Quoting OnlineAddict
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Im inclined to agree with you. Why have we seen equities rise consistently? I would suggest its because 2/3 of buyers on S&P and Dow are companies buying back their shares from surpluses created by the Trump tax breaks. This is not real investor demand and back in the day it would have been illegal market rigging.
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sadeghi
Jul 11, 2019 12:57pm
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Quoting TraderTero
{quote} FED will cut when the economy collapses, not before it. You don't cut rates when you have full employment. Just check the weekly unemployment numbers. There is no such thing as insurance rate cut.
forgive me buddy, when economy is at the full employment, inflation must be stable ( at target 2% ), inflation is under target at the moment, hence they should lower interest rate for raising inflation.
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FKhan
Jul 11, 2019 12:46pm
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Quoting OnlineAddict
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
I watched it for the most part too. He didn't give away much though. Did sound dovish for sure, but to any questions abt the cut, he seemed unfazed. Also the fact that all the congress members were thanking him for keeping politics out and askibg climate change questions was bothersome lol

Anywyas i want eurusd at 1.145 or so and ill b out.
We rogue citizens dont give a f 👶🏼
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4x_Trader
Jul 11, 2019 10:14pm
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A strong June US jobs report last Friday heightened expectations the FED was more likely to cut by 25 bps rather than 50bps on July 31 due to tame inflation and trade war....
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SurfsUp
Jul 12, 2019 10:21am
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One of the more interesting quotes from the article....
Quote
"In other words, Trump got the Fed to cut rates, but had to damage the economy to do it."
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sadeghi
Jul 11, 2019 1:22pm
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Quoting TraderTero
{quote} Not much under the target, 0.1 or 0.2 below. The employment numbers should count more.
based on released data today, 0.4 under target ( %1.6 ).
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TraderTero
Jul 11, 2019 1:03pm
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Quoting sadeghi
{quote} forgive me buddy, when economy is at the full employment, inflation must be stable ( at target 2% ), inflation is under target at the moment, hence they should lower interest rate for raising inflation.
Not much under the target, 0.1 or 0.2 below. The employment numbers should count more.
TraderTero
Jul 11, 2019 1:36pm — Edited
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Quoting sadeghi
{quote} based on released data today, 0.4 under target ( %1.6 ).
The core consumer price index, which excludes food and energy, rose 0.3% from the prior month, the most since January 2018, and 2.1% from a year earlier, Labor Department data showed Thursday. Both figures exceeded estimates. The broader CPI climbed 0.1%, also more than projected, and 1.6% annually.
https://www.bloomberg.com/news/artic...premium-europe

"US core inflation posts biggest gain in nearly 1 1/2 years"
https://www.cnbc.com/2019/07/11/cons...-june-2019.htm

So it is getting closer to the target.
mbrown
Jul 11, 2019 4:02pm
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Quoting OnlineAddict
{quote} He did, I watched the whole 2 hours or more. And today's numbers are meaningless to anyone but retailers. And he also said several times that the economy can only get worse from this point on. But that is an understatement, I think the next collapse will make people miss the one from 2008.
Online Addict for Prime Minstral!!!
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Myeza
Jul 11, 2019 10:03pm
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Quoting ayub11
Try to interpret the chart & then you'll find clue that market makers are going soon in action.
So you're basically saying that we should jut sell the Dollar at all costs? Damn.
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bshappens
Jul 14, 2019 5:06am — Edited
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The rate is still the same? President can't decide anything regarding the BANK nor can the congress (since )...

This is I guess the 'version' of 'truth' everyone should understand before thinking of what politicians can do:
Inserted Video


But... it's perhaps ones own perception that drives the expectations.
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Lante
Jul 11, 2019 12:21pm
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Mr. Powell does not confirm anything, please do not send false news based on his interpretation.
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Trader#24C5
Jul 11, 2019 12:27pm
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Indeed, I am with you on this, it is crazy talk to cut with no basis and there has not been a reason all along. It is just market participants wishing for the Fed to cut to juice up markets.
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