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+--- Thread: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS (/showthread.php?tid=241354)
Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - SteveG - 05-17-2020
If we get r-e-a-l lucky.
Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS
WASHINGTON (Reuters) - The most important data for the U.S. economy right now are the “medical metrics” around the coronavirus pandemic, Federal Reserve Chairman Jerome Powell said Sunday night in broadcast remarks where he outlined the likely need for three to six more months of government financial help for firms and families.
https://www.reuters.com/article/us-usa-fed-powell/feds-powell-medical-metrics-most-important-data-for-u-s-economy-now-cbs-idUSKBN22T0KM-
The economic devastation already has been severe. Powell said unemployment may hit 25% before it begins to fall, and gross domestic product may contract at an annualized rate of perhaps 20% in the April through June period. Those are levels reminiscent of the Great Depression in the 1930s, though Powell said he thought a prolonged crash of that magnitude remains unlikely.
“Assuming there is not a second wave of the coronavirus, I think you will see the economy recover steadily through the second half of this year,” he said. “For the economy to fully recover people will have to be fully confident and that may have to await the arrival of a vaccine.”
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - Speedy - 05-18-2020
That’ll make the president happy to hear since the data is all fake.
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - Ted King - 05-18-2020
How long before Trump gets rid of Powell?
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - Speedy - 05-18-2020
Ted King wrote:
How long before Trump gets rid of Powell?
He won’t, Big Business loves the Fed chief.
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - RgrF - 05-18-2020
Ted King wrote:
How long before Trump gets rid of Powell?
The Chairman of the Fed doesn't serve at the pleasure of the President, cannot be fired.
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - Ted King - 05-18-2020
RgrF wrote:
[quote=Ted King]
How long before Trump gets rid of Powell?
The Chairman of the Fed doesn't serve at the pleasure of the President, cannot be fired.
Oops, I thought he was able to force Yellen (previous Fed chair) out, but I see now that her term had ended.
Re: Fed's Powell: 'Medical metrics' most important data for U.S. economy now: CBS - cbelt3 - 05-18-2020
RgrF wrote:
[quote=Ted King]
How long before Trump gets rid of Powell?
The Chairman of the Fed doesn't serve at the pleasure of the President, cannot be fired. Shot on 5th Avenue. Remember... Laws are IRRELEVANT to the President. The Senate made it so.