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Powell's Prepared Statement for the Nomination Hearing


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#1 redfoliage2

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Posted 11 January 2022 - 10:00 AM

https://www.federalr...ll20220111a.htm

 

It sounds pretty much balanced between supporting the economy and fighting inflation .................


Edited by redfoliage2, 11 January 2022 - 10:06 AM.


#2 redfoliage2

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Posted 11 January 2022 - 11:35 AM

So at the hearing the Fed president was not sounding as hawkish as the media have feared for.  In his talks he said no specific timings for rate hiking.  Key words from him were "Learning", "adapt", and "depending on data", I even heard be "humble".  Very different from what was reported from the recent Fed minutes................................


Edited by redfoliage2, 11 January 2022 - 11:43 AM.


#3 linrom1

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Posted 11 January 2022 - 11:43 AM

So at the hearing the Fed president was not sounding as hawkish as the media have feared for.  In his talks he said no specific timings for rate hiking.  Key words from him were "Learning", "adapt", and "depending on data".  Very different from what was reported from the recent Fed minutes................................

You are being too kind. He was making faces and asking "what rates hikes" Look at DXY! The whole thing was a set-up: look at ES and NQs, yesterday and today.....and Powell is likely on it.


Edited by linrom1, 11 January 2022 - 11:46 AM.


#4 redfoliage2

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Posted 11 January 2022 - 11:51 AM

 

So at the hearing the Fed president was not sounding as hawkish as the media have feared for.  In his talks he said no specific timings for rate hiking.  Key words from him were "Learning", "adapt", and "depending on data".  Very different from what was reported from the recent Fed minutes................................

You are being too kind. He was making faces and asking "what rates hikes" Look at DXY! The whole thing was a set-up: look at ES and NQs, yesterday and today.....and Powell is likely on it.

 

Yeah, USD, Gold, 10Y bond yield, and the stock market all started reacting accordingly to his talks today,  e.g. NQ currently up 200 points ..........................


Edited by redfoliage2, 11 January 2022 - 11:58 AM.


#5 redfoliage2

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Posted 11 January 2022 - 12:03 PM

It looks likely we may see a relief rally if tomorrow's CPI is not horrible enough .............................


Edited by redfoliage2, 11 January 2022 - 12:06 PM.


#6 linrom1

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Posted 11 January 2022 - 12:20 PM

It looks likely we may see a relief rally if tomorrow's CPI is not horrible enough .............................

If it is, he won't have any credibility left.



#7 brucekeller

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Posted 11 January 2022 - 12:52 PM

 

It looks likely we may see a relief rally if tomorrow's CPI is not horrible enough .............................

If it is, he won't have any credibility left.

 

Nothing's too surprising nowadays.



#8 redfoliage2

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Posted 11 January 2022 - 01:21 PM

 

It looks likely we may see a relief rally if tomorrow's CPI is not horrible enough .............................

If it is, he won't have any credibility left.

 

I heard he used the word "adapt" several times during the hearing, also "depends on data" ....................


Edited by redfoliage2, 11 January 2022 - 01:27 PM.


#9 redfoliage2

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Posted 12 January 2022 - 09:15 AM

Regarding Fed policy normalization he said ...........normalization, its a long road to go........... Totally different from the outlook from some Street analysts.


Edited by redfoliage2, 12 January 2022 - 09:24 AM.


#10 redfoliage2

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Posted 12 January 2022 - 09:39 AM

CPI data out.  The lagging indicator (YOY) at 7.0% , but the leading indicator (MOM) at 0.5%, again indicating the peak has passed.  Core CPI shows same trend ..........................


Edited by redfoliage2, 12 January 2022 - 09:40 AM.