Has Powell and Co ushered in a possible recession?

[struth]

Joe is more qualified to be prez right now than trump ever was or ever will be.

That’s why a record number of Americans were better off then before harris and xiden took office

 

[SassyIrishLass]

That’s why a record number of Americans were better off then before harris and xiden took office

They'll try to blame Orange Man... just wait

 

[struth]

They'll try to blame Orange Man... just wait

To be fair, it is trumps fault a record number of Americans were better off when he was president

 

[SassyIrishLass]

To be fair, it is trumps fault a record number of Americans were better off when he was president

Yeah but I meant their precious Bidenomics imploding. And it is

 

[Toddsterpatriot]

Nothing demonstrates the Dunning-Kruger Effect more vividly than a Trumpster talking macroeconomics.

Except when a Harris supporter tries.

 

[scruffy]

Who will be blamed? Harris.

Yep.

I've been talking about this for MONTHS.

It's been more than obvious to anyone on the ground, that the Biden regime has been LYING to us about economic conditions.

Anyone who believes inflation is 3% is totally fucking brain dead.

Gas, food, and housing prices have DOUBLED since the Dems took over.

 

[scruffy]

They were elected, took office in 2021....inflation skyrocketed.

Their polices.

2024​

3.1​

3.2​

3.5​

3.4​

3.3​

3.0​

Avail. Aug. 14​

​

​

​

​

​

​

2023​

6.4​

6.0​

5.0​

4.9​

4.0​

3.0​

3.2​

3.7​

3.7​

3.2​

3.1​

3.4​

4.1​

2022​

7.5​

7.9​

8.5​

8.3​

8.6​

9.1​

8.5​

8.3​

8.2​

7.7​

7.1​

6.5​

8.0​

2021​

1.4​

1.7​

2.6​

4.2​

5.0​

5.4​

5.4​

5.3​

5.4​

6.2​

6.8​

7.0​

4.7​

Yep. It started on the very day they took office.

 

[bendog]

Yields on the long bonds dropped precipitously today, a continuation of a decline from their peak following the inflationary spiral caused by the post COVID supply chain shock, when jobless claims came in higher than expected. Consumer oriented companies have been reporting a slowdown in spending for over a month now. Manufacturing ISM came in lower than expected.

The Dow Jones Industrial Average fell Thursday, as fresh data stoked concerns over the state of the U.S. economy.

The 30-stock Dow dropped 313 points, or nearly 0.8%. The S&P 500 shed 0.3%, while the Nasdaq Composite slipped 0.4%.

Initial jobless claims rose to 249,000 for the week ended in July 27, higher than a Dow Jones forecast of 235,000. The ISM manufacturing index came in at 46.8, adding to a broader picture of slowing economic activity.

That data follows the Federal Reserve keeping rates unchanged and Chair Jerome Powell signaling a September rate is on the table. Yields fell Thursday as investors digested Powell’s comments, with the benchmark 10-year Treasury yield reaching its lowest level since Feb. 2.
https://www.cnbc.com/2024/07/31/stock-market-today-live-updates.html

Fed chair Powell says a rate cut is on the table for Sept. Meaning the Fed is once again behind the curve. He has essentially said a recession is acceptable if that's what is necessary to get inflation to the Fed's 2% target. He'd rather put you out of your job than have you pay a little more for good and services.

Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%
https://www.cnbc.com/2024/08/02/job...nemployment-rate-rises-to-4point3percent.html

Once again the Fed got it wrong. It left rates too high too long.

Who will be blamed? Harris.

yes and yes

 

[struth]

Yep. It started on the very day they took office.

Yes they started putting their policies in place and the markets responded right away

 

[my2¢]

As Paul Volcker demonstrated during the Carter and Reagan's administrations, slowing the economy is the best means to combat inflation. Recession isn't bad for those that already have, but it comes at a cost for many of those aspiring to a steady financial situation.

I remember sitting in the barber chair sometime around 1969-1972 when two old coots waiting their turn were saying what the country needed was a "good old-fashioned depression". As a high schooler thinking it over, I soon came to conclusion that what they said made sense for them. However, at that stage in my life, I would soon be dependent on growing economic opportunities. Now I'm in the old coot situation that has his.

The Fed may be a month or so behind in lowering rates but the Fed's inaction during the period of 2012-2019 was more troubling when interest rates were kept ridiculously low and not steadily restored back to normal as the country recovered from the Great Recession.