Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says

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Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says

Seeking Alpha2022-09-08

"We need to act now, forthrightly and strong" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...

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Jawslea
·2022-09-09
Can raise salary to fight inflation? Will be a vicious cycle. Shld give only to needy groups of people to enable them to afford the essentials like home, food & medical.
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1
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PearlynCSY
·2022-09-09
Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’Federal Reserve Chair Jerome Powell said Thursday he is “strongly committed” to fighting inflation.The Fed has raised benchmark interest rates four times this year, with the fed funds rate now set in a range between 2.25%-2.50%.This was the Fed chief’s last publicly scheduled appearance before the central bank’s Sept. 20-21 meeting.“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”The event was Powell’s last scheduled public appearance before the
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- PearlynCSY:
  Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach
  2022-09-11
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- Miyeo:
  [smile]
  2022-09-09
  Reply
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- adelee:
  k
  2022-09-09
  Reply
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K74
·2022-09-09
React
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1
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- K74:
  Is
  2022-09-09
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- K74:
  ?
  2022-09-09
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- K74:
  Bps
  2022-09-09
  Reply
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robot1234
·2022-09-09
Federal Reserve chief steals ECB’s rate hike thunder. THE euro slid on Thursday against the dollar despite a record interest rate hike by the European Central Bank as Federal Reserve chief Jerome Powell also signaled a tough approach against inflation.Meanwhile, the pound remained close to a 37-year low against the dollar that was struck Wednesday, as new British Prime Minister Liz Truss announced that she will freeze domestic fuel bills for two years to help ease the burden of a UK cost-of-living crisis. The ECB warned on Thursday that inflation was “far too high” and likely to stay above target for “an extended period” as it announced its record 0.75 percentage point hike.ECB chief Christine Lagarde made clear interest rates were far from where they need be to bring inflation down.“We ac
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- robot1234:
  Ray Dalio’s Bridgewater predicts another 20% to 25% drop for the markets
  
  2022-09-12
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- robot1234:
  Fed Governor Christopher Waller on Friday made comments indicating he could back another 0.75 percentage point interest rate increase later this month.
  2022-09-11
  Reply
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- robot1234:
  Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach
  2022-09-10
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SSVC
·2022-09-09
K
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andrew123
·2022-09-09
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ML808
·2022-09-09
Oh no
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YJ Lee
·2022-09-09
Ok
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1
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TaiJin
·2022-09-08
[Miser]
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MoneyCentral
·2022-09-08
Any doubters still that rates rises are coming fast and furious?
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watever
·2022-09-08
Ok
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In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9936970710,"gmtCreate":1662697486830,"gmtModify":1676537121927,"author":{"id":"3581673258710248","authorId":"3581673258710248","name":"Jawslea","avatar":"https://static.tigerbbs.com/8333191726f8892d8ed5ce88d0ca4b94","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3581673258710248","authorIdStr":"3581673258710248"},"htmlText":"Can raise salary to fight inflation?&nbsp; Will be a vicious cycle.&nbsp; Shld give only to needy groups of people to enable them to afford the essentials like home, food &amp; medical.","listText":"Can raise salary to fight inflation?&nbsp; Will be a vicious cycle.&nbsp; Shld give only to needy groups of people to enable them to afford the essentials like home, food &amp; medical.","text":"Can raise salary to fight inflation? Will be a vicious cycle. Shld give only to needy groups of people to enable them to afford the essentials like home, food & medical.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9936970710","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9936038391,"gmtCreate":1662682520313,"gmtModify":1676537115894,"author":{"id":"4092458811577680","authorId":"4092458811577680","name":"PearlynCSY","avatar":"https://static.tigerbbs.com/b3e9fe7af061efe80a756d23de62e7b3","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"4092458811577680","authorIdStr":"4092458811577680"},"htmlText":"Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’Federal Reserve Chair Jerome Powell said Thursday he is “strongly committed” to fighting inflation.The Fed has raised benchmark interest rates four times this year, with the fed funds rate now set in a range between 2.25%-2.50%.This was the Fed chief’s last publicly scheduled appearance before the central bank’s Sept. 20-21 meeting.“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&amp;A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”The event was Powell’s last scheduled public appearance before the","listText":"Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’Federal Reserve Chair Jerome Powell said Thursday he is “strongly committed” to fighting inflation.The Fed has raised benchmark interest rates four times this year, with the fed funds rate now set in a range between 2.25%-2.50%.This was the Fed chief’s last publicly scheduled appearance before the central bank’s Sept. 20-21 meeting.“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&amp;A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”The event was Powell’s last scheduled public appearance before the","text":"Fed Chair Powell vows to raise rates to fight inflation ‘until the job is done’Federal Reserve Chair Jerome Powell said Thursday he is “strongly committed” to fighting inflation.The Fed has raised benchmark interest rates four times this year, with the fed funds rate now set in a range between 2.25%-2.50%.This was the Fed chief’s last publicly scheduled appearance before the central bank’s Sept. 20-21 meeting.“History cautions strongly against prematurely loosening policy,” the central bank leader said in a Q&A presented by the Cato Institute, a libertarian think tank based in Washington, D.C. “I can assure you that my colleagues and I are strongly committed to this project and we will keep at it until the job is done.”The event was Powell’s last scheduled public appearance before the","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://ttm.financial/post/9936038391","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103870160,"gmtCreate":1662873595627,"gmtModify":1663258653156,"authorId":4092458811577680,"author":{"id":4092458811577680,"idStr":"4092458811577680","authorId":4092458811577680,"name":"PearlynCSY","avatar":"https://static.tigerbbs.com/b3e9fe7af061efe80a756d23de62e7b3","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936038391,"type":1,"supId":0,"prevId":0,"content":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent <u>approach</u>","text":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent <u>approach</u>","html":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent <u>approach</u>"},{"id":103837439,"gmtCreate":1662688289868,"gmtModify":1663258509243,"authorId":3586381222982158,"author":{"id":3586381222982158,"idStr":"3586381222982158","authorId":3586381222982158,"name":"Miyeo","avatar":"https://community-static.tradeup.com/news/16f91408f4f757ca3859a7c479efdc60","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936038391,"type":1,"supId":0,"prevId":0,"content":"[smile]","text":"[smile]","html":"[smile]"},{"id":103837415,"gmtCreate":1662688239799,"gmtModify":1663258508640,"authorId":3585607072268014,"author":{"id":3585607072268014,"idStr":"3585607072268014","authorId":3585607072268014,"name":"adelee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936038391,"type":1,"supId":0,"prevId":0,"content":"<u>k</u>","text":"<u>k</u>","html":"<u>k</u>"},{"id":103837436,"gmtCreate":1662688279474,"gmtModify":1663258508450,"authorId":3573516985440152,"author":{"id":3573516985440152,"idStr":"3573516985440152","authorId":3573516985440152,"name":"KennethLim","avatar":"https://community-static.tradeup.com/news/b14c36aded4c09af72784800119db550","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-1","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Boss 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$100,000","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.22","exceedPercentage":"60.91%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1101},"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936038391,"type":1,"supId":0,"prevId":0,"content":"<u>k</u>","text":"<u>k</u>","html":"<u>k</u>"},{"id":103837458,"gmtCreate":1662688336119,"gmtModify":1663258508447,"authorId":3577945319352371,"author":{"id":3577945319352371,"idStr":"3577945319352371","authorId":3577945319352371,"name":"R2D2","avatar":"https://static.tigerbbs.com/0b82ed09a21fdbec2d56ea0aca3b5342","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936038391,"type":1,"supId":0,"prevId":0,"content":"don't fight the Fed","text":"don't fight the Fed","html":"don't fight the Fed"}],"langContent":"EN"},{"id":9936095808,"gmtCreate":1662682160705,"gmtModify":1676537115708,"author":{"id":"3574026189533561","authorId":"3574026189533561","name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3574026189533561","authorIdStr":"3574026189533561"},"htmlText":"React","listText":"React","text":"React","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":16,"repostSize":0,"link":"https://ttm.financial/post/9936095808","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103834925,"gmtCreate":1662682244104,"gmtModify":1663258498829,"authorId":3574026189533561,"author":{"id":3574026189533561,"idStr":"3574026189533561","authorId":3574026189533561,"name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936095808,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Is</span>","text":"<span class=\"s1\">Is</span>","html":"<span class=\"s1\">Is</span>"},{"id":103834946,"gmtCreate":1662682282829,"gmtModify":1663258498433,"authorId":3574026189533561,"author":{"id":3574026189533561,"idStr":"3574026189533561","authorId":3574026189533561,"name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936095808,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">?</span>","text":"<span class=\"s1\">?</span>","html":"<span class=\"s1\">?</span>"},{"id":103834936,"gmtCreate":1662682263326,"gmtModify":1663258498356,"authorId":3574026189533561,"author":{"id":3574026189533561,"idStr":"3574026189533561","authorId":3574026189533561,"name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936095808,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Bps</span>","text":"<span class=\"s1\">Bps</span>","html":"<span class=\"s1\">Bps</span>"},{"id":103834909,"gmtCreate":1662682218135,"gmtModify":1663258498335,"authorId":3574026189533561,"author":{"id":3574026189533561,"idStr":"3574026189533561","authorId":3574026189533561,"name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936095808,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">To</span>","text":"<span class=\"s1\">To</span>","html":"<span class=\"s1\">To</span>"},{"id":103834895,"gmtCreate":1662682194931,"gmtModify":1663258498146,"authorId":3574026189533561,"author":{"id":3574026189533561,"idStr":"3574026189533561","authorId":3574026189533561,"name":"K74","avatar":"https://community-static.tradeup.com/news/0915c1dbb625a1fab842a01a98e9f31a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936095808,"type":1,"supId":0,"prevId":0,"content":"<span class=\"s1\">Did</span>","text":"<span class=\"s1\">Did</span>","html":"<span class=\"s1\">Did</span>"}],"langContent":"EN"},{"id":9936000675,"gmtCreate":1662681341999,"gmtModify":1676537115205,"author":{"id":"3561596430587504","authorId":"3561596430587504","name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":6,"crmLevelSwitch":1,"idStr":"3561596430587504","authorIdStr":"3561596430587504"},"htmlText":"Federal Reserve chief steals ECB’s rate hike thunder. THE euro slid on Thursday against the dollar despite a record interest rate hike by the European Central Bank as Federal Reserve chief Jerome Powell also signaled a tough approach against inflation.Meanwhile, the pound remained close to a 37-year low against the dollar that was struck Wednesday, as new British Prime Minister Liz Truss announced that she will freeze domestic fuel bills for two years to help ease the burden of a UK cost-of-living crisis. The ECB warned on Thursday that inflation was “far too high” and likely to stay above target for “an extended period” as it announced its record 0.75 percentage point hike.ECB chief Christine Lagarde made clear interest rates were far from where they need be to bring inflation down.“We ac","listText":"Federal Reserve chief steals ECB’s rate hike thunder. THE euro slid on Thursday against the dollar despite a record interest rate hike by the European Central Bank as Federal Reserve chief Jerome Powell also signaled a tough approach against inflation.Meanwhile, the pound remained close to a 37-year low against the dollar that was struck Wednesday, as new British Prime Minister Liz Truss announced that she will freeze domestic fuel bills for two years to help ease the burden of a UK cost-of-living crisis. The ECB warned on Thursday that inflation was “far too high” and likely to stay above target for “an extended period” as it announced its record 0.75 percentage point hike.ECB chief Christine Lagarde made clear interest rates were far from where they need be to bring inflation down.“We ac","text":"Federal Reserve chief steals ECB’s rate hike thunder. THE euro slid on Thursday against the dollar despite a record interest rate hike by the European Central Bank as Federal Reserve chief Jerome Powell also signaled a tough approach against inflation.Meanwhile, the pound remained close to a 37-year low against the dollar that was struck Wednesday, as new British Prime Minister Liz Truss announced that she will freeze domestic fuel bills for two years to help ease the burden of a UK cost-of-living crisis. The ECB warned on Thursday that inflation was “far too high” and likely to stay above target for “an extended period” as it announced its record 0.75 percentage point hike.ECB chief Christine Lagarde made clear interest rates were far from where they need be to bring inflation down.“We ac","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":13,"repostSize":0,"link":"https://ttm.financial/post/9936000675","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":103877276,"gmtCreate":1662936135216,"gmtModify":1663258683633,"authorId":3561596430587504,"author":{"id":3561596430587504,"idStr":"3561596430587504","authorId":3561596430587504,"name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936000675,"type":1,"supId":0,"prevId":0,"content":"<div align=\"left\"><p dir=\"ltr\"><span style=\"font-size:1.50em;\"><b>Ray Dalio’s Bridgewater predicts another 20% to 25% drop for the markets </b></span><br>\n</p>\n</div><p dir=\"ltr\"><br>\n</p>","text":"<div align=\"left\"><p dir=\"ltr\"><span style=\"font-size:1.50em;\"><b>Ray Dalio’s Bridgewater predicts another 20% to 25% drop for the markets </b></span><br>\n</p>\n</div><p dir=\"ltr\"><br>\n</p>","html":"<div align=\"left\"><p dir=\"ltr\"><span style=\"font-size:1.50em;\"><b>Ray Dalio’s Bridgewater predicts another 20% to 25% drop for the markets </b></span><br>\n</p>\n</div><p dir=\"ltr\"><br>\n</p>"},{"id":103868576,"gmtCreate":1662868260111,"gmtModify":1663258645944,"authorId":3561596430587504,"author":{"id":3561596430587504,"idStr":"3561596430587504","authorId":3561596430587504,"name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936000675,"type":1,"supId":0,"prevId":0,"content":"Fed Governor Christopher Waller on Friday made comments indicating he could back another 0.75 percentage point interest rate increase later this month.","text":"Fed Governor Christopher Waller on Friday made comments indicating he could back another 0.75 percentage point interest rate increase later this month.","html":"Fed Governor Christopher Waller on Friday made comments indicating he could back another 0.75 percentage point interest rate increase later this month."},{"id":103853583,"gmtCreate":1662777763104,"gmtModify":1663258581142,"authorId":3561596430587504,"author":{"id":3561596430587504,"idStr":"3561596430587504","authorId":3561596430587504,"name":"robot1234","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":6,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936000675,"type":1,"supId":0,"prevId":0,"content":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach","text":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach","html":"Fed’s Waller sees ‘significant’ rate hike this month, backs data-dependent approach"},{"id":103837495,"gmtCreate":1662688410544,"gmtModify":1663258511053,"authorId":3581641656112321,"author":{"id":3581641656112321,"idStr":"3581641656112321","authorId":3581641656112321,"name":"Newcslee","avatar":"https://community-static.tradeup.com/news/68c88bff743d8847cfd961c5be70c5a2","vip":1,"crmLevel":7,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936000675,"type":1,"supId":0,"prevId":0,"content":"<u>ya</u>","text":"<u>ya</u>","html":"<u>ya</u>"},{"id":103837683,"gmtCreate":1662688779782,"gmtModify":1663258510952,"authorId":3586763852638191,"author":{"id":3586763852638191,"idStr":"3586763852638191","authorId":3586763852638191,"name":"HeyU","avatar":"https://static.tigerbbs.com/f6b997c2d4dbd1e4cfca0a765f2126a0","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":9936000675,"type":1,"supId":0,"prevId":0,"content":"<u>Ok</u>","text":"<u>Ok</u>","html":"<u>Ok</u>"}],"langContent":"EN"},{"id":9938710619,"gmtCreate":1662676743632,"gmtModify":1676537113065,"author":{"id":"3574906731000207","authorId":"3574906731000207","name":"SSVC","avatar":"https://static.tigerbbs.com/545a5ea462ff4ac7cc100bd3d8d97f72","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574906731000207","authorIdStr":"3574906731000207"},"htmlText":"K","listText":"K","text":"K","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938710619","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938736651,"gmtCreate":1662676425974,"gmtModify":1676537112933,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576260758860416","authorIdStr":"3576260758860416"},"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938736651","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938730492,"gmtCreate":1662675929816,"gmtModify":1676537112808,"author":{"id":"3582359360248748","authorId":"3582359360248748","name":"ML808","avatar":"https://static.tigerbbs.com/f601c68849ffbac8b7679f40f1471368","vip":1,"hat":"https://static.tigerbbs.com/7b75ce0c34afff716602792a5d0929dd","crmLevel":4,"crmLevelSwitch":0,"idStr":"3582359360248748","authorIdStr":"3582359360248748"},"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938730492","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938474560,"gmtCreate":1662672617450,"gmtModify":1676537112120,"author":{"id":"4108816210230400","authorId":"4108816210230400","name":"YJ Lee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4108816210230400","authorIdStr":"4108816210230400"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938474560","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938427730,"gmtCreate":1662652741721,"gmtModify":1676537111010,"author":{"id":"3585363622677550","authorId":"3585363622677550","name":"TaiJin","avatar":"https://static.tigerbbs.com/24d2d840485600ee9789f516e956a70f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3585363622677550","authorIdStr":"3585363622677550"},"htmlText":"[Miser]&nbsp;","listText":"[Miser]&nbsp;","text":"[Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938427730","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938406744,"gmtCreate":1662644855088,"gmtModify":1676537108550,"author":{"id":"4091678983335410","authorId":"4091678983335410","name":"MoneyCentral","avatar":"https://static.tigerbbs.com/b65487e9bb510d46c3ac12f7427011cb","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4091678983335410","authorIdStr":"4091678983335410"},"htmlText":"Any doubters still that rates rises are coming fast and furious?","listText":"Any doubters still that rates rises are coming fast and furious?","text":"Any doubters still that rates rises are coming fast and furious?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938406744","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9938575636,"gmtCreate":1662643937525,"gmtModify":1676537108249,"author":{"id":"3574372061770129","authorId":"3574372061770129","name":"watever","avatar":"https://static.tigerbbs.com/7f621f8815426f0f78f2e35ecc0414e8","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3574372061770129","authorIdStr":"3574372061770129"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9938575636","repostId":1165700880,"repostType":4,"repost":{"id":"1165700880","pubTimestamp":1662648606,"share":"https://ttm.financial/m/news/1165700880?lang=&edition=fundamental","pubTime":"2022-09-08 22:50","market":"us","language":"en","title":"Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1165700880","media":"Seeking Alpha","summary":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in","content":"<html><head></head><body><p>&#34;We need to act now, forthrightly and strong&#34; to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.</p><p>&#34;We are strongly committed to this project and we will keep at it until we get the job done,&#34; he added.</p><p>The inflation of the 1970s and early &#39;80s &#34;followed several failed attempts to bring inflation under control,&#34; and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today&#39;s policymakers not to loosen policy too early.</p><p>&#34;Today, demand continues to be very strong, he said. &#34;What we hope to achieve is a period of growth below trend&#34; that will bring labor market back into balance, Powell said. &#34;The shock to the labor supply that we got from the pandemic was large and persistent.&#34; The increase in labor force participation that was seen in August&#39;s jobs report was welcome, but it&#39;s still a percentage point below prepandemic levels.</p><p><b>Update at 9:22 AM ET</b>: There are different theories on what caused the recent high inflation, he said. &#34;The relationship between money supply and inflation has been unstable&#34; for years. He doesn&#39;t find money supply to be a good predictor of inflation. &#34;Monetary aggregates don&#39;t play a key role&#34; in the Fed&#39;s policy.</p><p><b>9:23 AM ET:</b>When asked if it makes sense for the Fed&#39;s dual mandate to include full employment, Powell said the dual mandate has served the public well and that it&#39;s workable. &#34;I don&#39;t see a case for the Fed to move to a single mandate,&#34; he said. Neither does he see the price stability-full employment mandate as conflicting with each other.</p><p>He further said he wouldn&#39;t want the Federal Reserve&#39;s mandate to be broadened or narrowed.&#34; Keeping its mission narrow helps it to operate as a politically independent institution, he added.</p><p>Powell doesn&#39;t see the Fed changing to a &#34;scarce reserves&#34; regime, saying it would be impractical. Its current &#34;ample reserves&#34; system provides a lot of liquidity in the banking system, which is a net gain.</p><p>The central bank hasn&#39;t made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.</p><p>Unbacked cryptocurrencies are a speculative asset that aren&#39;t a &#34;great store of value,&#34; Powell said. &#34;Stablecoin is a different thing,&#34; he said. While the Fed doesn&#39;t want to stand in the way of innovation, &#34;something that&#39;s purported to be money needs to be appropriately regulated,&#34; he said. &#34;I think you need regulation.&#34;</p><p>Our federal fiscal policy is not on a sustainable path and it has been for some time,&#34; he said, urging that the sooner fiscal policy gets on a sustainable path the better.</p><p>Event ended at 9:51 AM ET.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFed Needs to Act Forthrightly and Strong to Avoid 70s Inflation, Jerome Powell Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-08 22:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated ...</p>\n\n<a href=\"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/news/3881225-fed-needs-to-act-forthrightly-and-strong-to-avoid-70s-inflation-jerome-powell-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165700880","content_text":"\"We need to act now, forthrightly and strong\" to avoid the kind of inflation that became embedded in expectations in the 1970s, Federal Reserve Chair Jerome Powell said Thursday in a moderated conversation at the Cato Institute monetary policy conference.\"We are strongly committed to this project and we will keep at it until we get the job done,\" he added.The inflation of the 1970s and early '80s \"followed several failed attempts to bring inflation under control,\" and that led people to assume that high inflation was the norm, Powell explained. In other words, history has taught today's policymakers not to loosen policy too early.\"Today, demand continues to be very strong, he said. \"What we hope to achieve is a period of growth below trend\" that will bring labor market back into balance, Powell said. \"The shock to the labor supply that we got from the pandemic was large and persistent.\" The increase in labor force participation that was seen in August's jobs report was welcome, but it's still a percentage point below prepandemic levels.Update at 9:22 AM ET: There are different theories on what caused the recent high inflation, he said. \"The relationship between money supply and inflation has been unstable\" for years. He doesn't find money supply to be a good predictor of inflation. \"Monetary aggregates don't play a key role\" in the Fed's policy.9:23 AM ET:When asked if it makes sense for the Fed's dual mandate to include full employment, Powell said the dual mandate has served the public well and that it's workable. \"I don't see a case for the Fed to move to a single mandate,\" he said. Neither does he see the price stability-full employment mandate as conflicting with each other.He further said he wouldn't want the Federal Reserve's mandate to be broadened or narrowed.\" Keeping its mission narrow helps it to operate as a politically independent institution, he added.Powell doesn't see the Fed changing to a \"scarce reserves\" regime, saying it would be impractical. Its current \"ample reserves\" system provides a lot of liquidity in the banking system, which is a net gain.The central bank hasn't made any decisions on creating a central bank digital currency and it will take some time to evaluate. Proceeding with a CBDC would require support from the executive and legislative branches of government, he said. Privacy protection and identity verification would be critical factors.Unbacked cryptocurrencies are a speculative asset that aren't a \"great store of value,\" Powell said. \"Stablecoin is a different thing,\" he said. While the Fed doesn't want to stand in the way of innovation, \"something that's purported to be money needs to be appropriately regulated,\" he said. \"I think you need regulation.\"Our federal fiscal policy is not on a sustainable path and it has been for some time,\" he said, urging that the sooner fiscal policy gets on a sustainable path the better.Event ended at 9:51 AM ET.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":88,"commentSize":11,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}