Thank you stable genius Donald Trump ... Powell: U.S. debt is 'on unsustainable path,' ...

[LordBrownTrout]

U.S. debt is only bad when a Republican is in office.

unless you are talking to Repub then it is only bad when a Dem is in office.

there is no difference between you two groups.

the gop at one time tried to reduce spending. But then came the commercials of granny being pushed over the cliff in a wheel chair.

Yeah they stopped as soon as they had full control of Congress and the presidency. Strange.

Not really strange. Rs stopped being fiscally responsible after gingrich left.

 

[okfine]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

 

[Mac1958]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

And they swallowed it hook, line & sinker.

AND they defend it.

Mind-blowing.
.

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

they

don't

know

this

stuff
.

 

[Papageorgio]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

And 66 million voted for another immoral person.

Keep blaming others and nothing will change.

 

[okfine]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
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Engage, ask questions and observe when investing in stock market
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Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

And 66 million voted for another immoral person.

Keep blaming others and nothing will change.

And I will.

 

[Papageorgio]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

And 66 million voted for another immoral person.

Keep blaming others and nothing will change.

And I will.

We all already know that you do. It's the easy way out.

 

[Billiejeens]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

Democratics convinced the country during the Clinton Administration that personal morals had no affect on a person's ability to do their job.

Business is Business and personal is personal which is kinda how I live my own life too.

 

[okfine]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

Democratics convinced the country during the Clinton Administration that personal morals had no affect on a person's ability to do their job.

Business is Business and personal is personal which is kinda how I live my own life too.

Huh?

 

[Billiejeens]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

Democratics convinced the country during the Clinton Administration that personal morals had no affect on a person's ability to do their job.

Business is Business and personal is personal which is kinda how I live my own life too.

Huh?

What?

 

[healthmyths]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Thank the 63 Million who voted him into office. It's all their fault.

No it's not, it is everyone's fault. We have elected and have continued to elect spenders into office. We don't hold Congress or the President responsible for their spending and budgets. It didn't just start with Trump and it isn't going to end with Trump. Every Democratic Presidential candidate is running on raising government spending. Trump flat out lied when he claimed he'd cut the debt. The only thing the American people do is blame the "other" side.

We need to hold both parties accountable, we need to accept that WE the people have gotten ourselves into this mess and then and only then will we find the power to get ourselves and this country out of debt.

With all of the info going back 30+ years on Trumps past, those 63 million still voted for an immoral person.

FACTS.... Strange how they help people who don't have an inkling of reality!

First, the attacks on 9/11 led to the War on Terror.
It's added $2.4 trillion to the debt since 2001.
It almost doubled annual military spending. It rose from $111.9 billion in 2003 to a peak of $150.8 billion in 2019.
That includes the defense department budget and off-budget emergency spending, and increases for the Department of Veterans Affairs.S
2nd...
But the Joint Committee on Taxation said the cuts would stimulate growth by 0.7 percent annually.
The increased growth will add revenue, offsetting some of the tax cuts.
As a result, the deficit will increase $1 trillion over the next decade.

Lastly is unfunded elements of mandatory spending.
The mandatory budget also includes $611 billion in income support programs for those who can't provide for themselves. This includes welfare programs like
TANF, EITC, and Housing Assistance. It also includes unemployment benefits for those who were laid off.

3 Reasons the US Deficit Is Out of Control

So after Obama SHRUNK the military while putting out Rules of Engagement like THIS!!!
"Patrol only in areas that you are reasonably certain that you will not have to defend yourselves with lethal force."
For a soldier who has traveled halfway around the world to fight, that’s like telling a cop he should only patrol in areas where he knows he won’t have to make arrests.
“Does that make any f–king sense?” Pfc. Jared Pautsch.
In Afghanistan, a New General -- But An Old Strategy
Consider that is JUST one of the reasons our military was so bad off. The soldiers told NOT to do what they were trained to do!

Then you have Obama who was so anti-American, anti-business he said and did things that discouraged businesses!
Did you know under Obamacare if an employer with 49 employees and no health insurance WANTED to hire the 50th employee, the employer needed to get
health insurance which cost on average for the now 50 employees another $14,000/month to the employer... all because of Obamacare!
Up to 250,000 positions may have been eliminated by small businesses seeking to avoid Obamacare’s employer mandate, according to estimates in a new working paper distributed by the National Bureau of Economic Research. Altogether between 28,000 and 50,000 businesses appear to have reduced their number of full-time employees from 2014 to 2016 because of the mandate.
Businesses eliminated hundreds of thousands of full-time jobs to avoid Obamacare mandate

All of these anti-American/Anti-business efforts by Obama had an affect on the National DEBT!

 

[Lumpy 1]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

And they swallowed it hook, line & sinker.

AND they defend it.

Mind-blowing.
.

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

Wow .. you've gone full TDS .. what a shame.. Tell me all the great things Democrats have accomplished for the economy in the Trump years that makes you so hopeful.

Yup, the economy could certainly be better but consider that The House of Representative is a dead zone when it comes to worthwhile bipartisan legislation, in fact, Democrats have gone full anti-American economic success. (congratulations, they've successfully had a politically motivated negative impact and you're deceitfully giving them a free pass and your obvious support)..

Eh, good signs and bad signs ... relax g5000 .. there's plenty of ways to invest and make money and hows that 401K.?

US economy under Trump: The greatest ever?

 

[Denizen]

134 billion dollar deficit for the month of October alone. 34% higher than the deficit for last October...all this in the middle of the best economy the world has ever seen.

We are so fucked come the next recession.

Its ver certainly not the best economy the world has ever seen. Even Obama had better GDP growth numbers than the best under Trump.

Currently, the GDP is growing at 1.9% while the Federal deficit and the debt are growing at ~ 5% of GDP.

The US economy is behaving like a Trump casino without Fred Trump's free money donations.

 

[Denizen]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

Dem's in congress refuse to cut spending, you own the debt problem and control of the House.

It would be useful if Donald Trump, Melania, Ivanka, Jared Kushner, Donald Jr., and Eric emptied their pockets before leaving the White House.

 

[Denizen]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
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The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
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Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.

Financial position of the United States - Wikipedia

This was 2014. It is now 5 years later.
The net worth of the USA after subtracting national debt, and all other debt was in 2014... $123.8 trillion. Again subtracting National debt at that time of $17.8 trillion.
Today it is $22.6 trillion, a $4.8 trillion increase. OK... that means the net worth of all Americans & Businesses after paying off National debt is: $118 trillion. Geez.

The economy is going backward and accelerating.

Trump is a total moron and a criminal.

 

[Denizen]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

And they swallowed it hook, line & sinker.

AND they defend it.

Mind-blowing.
.

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

Wow .. you've gone full TDS .. what a shame.. Tell me all the great things Democrats have accomplished for the economy in the Trump years that makes you so hopeful.

Yup, the economy could certainly be better but consider that The House of Representative is a dead zone when it comes to worthwhile bipartisan legislation, in fact, Democrats have gone full anti-American economic success. (congratulations, they've successfully had a politically motivated negative impact and you're deceitfully giving them a free pass and your obvious support)..

Eh, good signs and bad signs ... relax g5000 .. there's plenty of ways to invest and make money and hows that 401K.?

US economy under Trump: The greatest ever?

The war on terror is bogus. The military wants and needs constant wars to test its training and weapons.

The Afghan and Iraq wars were both unnecessary for the security of the USA. More US citizens died trying to kill Osama Bin Laden than were killed in the 9/11 attack which was never appropriately investigated. In fact, it would have been more appropriate to bomb Saudi Arabia than Afghanistan and Iraq following 9/11.

 

[Lumpy 1]

Another fallacious campaign promise from Trump. Instead of passing a plan geared to reducing the deficit, he passed a tax cut that INCREASED it...

And they swallowed it hook, line & sinker.

AND they defend it.

Mind-blowing.
.

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

Wow .. you've gone full TDS .. what a shame.. Tell me all the great things Democrats have accomplished for the economy in the Trump years that makes you so hopeful.

Yup, the economy could certainly be better but consider that The House of Representative is a dead zone when it comes to worthwhile bipartisan legislation, in fact, Democrats have gone full anti-American economic success. (congratulations, they've successfully had a politically motivated negative impact and you're deceitfully giving them a free pass and your obvious support)..

Eh, good signs and bad signs ... relax g5000 .. there's plenty of ways to invest and make money and hows that 401K.?

US economy under Trump: The greatest ever?

The war on terror is bogus. The military wants and needs constant wars to test its training and weapons.

The Afghan and Iraq wars were both unnecessary for the security of the USA. More US citizens died trying to kill Osama Bin Laden than were killed in the 9/11 attack which was never appropriately investigated. In fact, it would have been more appropriate to bomb Saudi Arabia than Afghanistan and Iraq following 9/11.

Seems you've changed the topic... .. yup, I did notice that ...

 

[Denizen]

And they swallowed it hook, line & sinker.

AND they defend it.

Mind-blowing.
.

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

Wow .. you've gone full TDS .. what a shame.. Tell me all the great things Democrats have accomplished for the economy in the Trump years that makes you so hopeful.

Yup, the economy could certainly be better but consider that The House of Representative is a dead zone when it comes to worthwhile bipartisan legislation, in fact, Democrats have gone full anti-American economic success. (congratulations, they've successfully had a politically motivated negative impact and you're deceitfully giving them a free pass and your obvious support)..

Eh, good signs and bad signs ... relax g5000 .. there's plenty of ways to invest and make money and hows that 401K.?

US economy under Trump: The greatest ever?

The war on terror is bogus. The military wants and needs constant wars to test its training and weapons.

The Afghan and Iraq wars were both unnecessary for the security of the USA. More US citizens died trying to kill Osama Bin Laden than were killed in the 9/11 attack which was never appropriately investigated. In fact, it would have been more appropriate to bomb Saudi Arabia than Afghanistan and Iraq following 9/11.

Seems you've changed the topic... .. yup, I did notice that ...

Yes, I did and I can't recall why I did that. I must have read the issue in another string and mistakenly responded in this string.

 

[Lumpy 1]

Great Economy .. millions of jobs ... Yup ... Trump really screwed up...

.. and the Democrats .. what did they do for the country or economy .... mmmm ...

Oh yeah.. they whined, investigated and resisted success..


.

Trump's job growth has been sluggish compared to Obama's, dumbass.

More bad news: Economy Grew at 1.9% Rate in Quarter, Hit by Trade Fight and Global Weakness

When the economy grew by 1.9 percent on Obama's watch, Trump called that a disaster.

How DO you stand the stench of your own hypocrisy?

Wow .. you've gone full TDS .. what a shame.. Tell me all the great things Democrats have accomplished for the economy in the Trump years that makes you so hopeful.

Yup, the economy could certainly be better but consider that The House of Representative is a dead zone when it comes to worthwhile bipartisan legislation, in fact, Democrats have gone full anti-American economic success. (congratulations, they've successfully had a politically motivated negative impact and you're deceitfully giving them a free pass and your obvious support)..

Eh, good signs and bad signs ... relax g5000 .. there's plenty of ways to invest and make money and hows that 401K.?

US economy under Trump: The greatest ever?

The war on terror is bogus. The military wants and needs constant wars to test its training and weapons.

The Afghan and Iraq wars were both unnecessary for the security of the USA. More US citizens died trying to kill Osama Bin Laden than were killed in the 9/11 attack which was never appropriately investigated. In fact, it would have been more appropriate to bomb Saudi Arabia than Afghanistan and Iraq following 9/11.

Seems you've changed the topic... .. yup, I did notice that ...

Yes, I did and I can't recall why I did that. I must have read the issue in another string and mistakenly responded in this string.

Well, it's not always easy saving the world ...
.

 

[Crixus]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

Duuuuh. Where were you 15 years ago?

 

[healthmyths]

"The debt is growing faster than the economy and that is unsustainable," Powell said.

That is evident to all rational people who are hoping the US Administration has more policies than Ivanka dreaming up 16 million jobs that will never exist.

The horse has bolted and debt is accelerating. The stable genius can't even find the stable door with both hands.

The US economy is on a path to a recession when debt is rising at around 2.5x GDP growth. Every announcement of a GDP increase will herald a 2.5x GDP growth increase in debt.

The stable genius is wallowing helplessly while his world collapses and the US economy craters.

Interest rates: Powell tells Congress federal debt is 'unsustainable'

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Powell: U.S. debt is 'on unsustainable path,' crimping ability to respond to recession
Paul Davidson
USA TODAY

Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.

“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”

Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.

"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."

Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.

“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."

More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.

Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.

“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.

Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.

"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.

“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.

Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.

"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

warned lawmakers Wednesday that the ballooning federal debt could hamper Congress’ ability to support the economy in a downturn, urging them to put the budget “on a sustainable path.”
Powell suggested such fiscal aid could be vital after the Fed has cut its benchmark interest rate three times this year, leaving the central bank less room to lower rates further in case of a recession.
“The federal budget is on an unsustainable path, with high and rising debt,” Powell told the Joint Economic Committee. “Over time, this outlook could restrain fiscal policymakers’ willingness or ability to support economic activity during a downturn.”
Powell also reiterated that the Fed is likely done cutting rates unless the economy heads south.
"The outlook is still a positive one," he said. "There's no reason this expansion can't continue."
Don't idle:How often should I start my car in cold weather?
Death of retirement? The old work model is disappearing for boomers, Gen Xers
The auto industry is still a boys' club at the top despite GM CEO Mary Barra's success
WW, formerly Weight Watchers, unveils new plan with more choice, less hunger and, yes, pasta
Engage, ask questions and observe when investing in stock market
'Ford v Ferrari:' Cars from the upcoming movie take center stage
Medicare Part B premium 2020: Rates and deductibles rising 7% for outpatient care
Powell gets more aggressive
The testimony marks a more aggressive tone for Powell, who generally has steered clear of lecturing lawmakers on the hazards of the federal deficit. But after raising its key rate nine times since late 2015, the Fed has lowered it three times this year to head off the risk of recession posed by President Donald Trump’s trade war with China and a sluggish global economy.
Those developments have hurt manufacturing and business investment while consumer spending remains on solid footing.
The Fed’s benchmark rate is now at a range of 1.5% to 1.75%, above the near-zero level that persisted for years after the Great Recession of 2007-09 but below the 2.25% to 2.5% range early this year.
“Nonetheless, the current low-interest-rate environment may limit the ability of monetary policy to support the economy,” Powell said.
Noting the Fed has lowered its federal funds rate an average 5 percentage points in prior downturns, Powell said, "We don't have that kind of room." He added, "Fed policy will also be important, though," if the nation enters a recession. Fed officials have said they still have ammunition to fight a slump, including lowering rates and resuming bond purchases.
Deficit and debt worries
Meanwhile, the federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it’s expected to top $1 trillion in fiscal 2020. The federal tax cuts and spending increases spearheaded by Trump have added to the red ink and are set to add at least $2 trillion to the federal debt over a decade. The national debt recently surpassed $23 trillion.
"The debt is growing faster than the economy and that is unsustainable," Powell said.
President Donald Trump and Jerome Powell
He added that a high and rising federal debt also can “restrain private investment and, thereby, reduce productivity and overall economic growth.” That's because swollen debt can push interest rates higher.
Wealthy investors worry:More than half of high net worth investors bracing for stock drop
“Putting the federal budget on a sustainable path would aid in the long-term vigor of the U.S. economy and help ensure that policymakers have the space to use fiscal policy to assist in stabilizing the economy if it weakens,” Powell said.

He added, "How you do that and when you do that is up to you."
More rate cuts unlikely
Many economists are forecasting a recession next year, though the risks have eased now that the U.S. and China appear close to a partial settlement of their trade fight and the odds of a Brexit that doesn’t include a trade agreement between Britain and Europe have fallen.
Powell also said the Fed is unlikely to reduce interest rates further unless the economy weakens significantly – a message he delivered after the central bank trimmed its key rate for a third time late last month.
“We see the current stance of monetary policy as likely to remain appropriate" as long as the economy, labor market and inflation remain consistent with the Fed’s outlook, Powell said.
Since last month's Fed meeting, the government has reported that employers added 128,000 jobs in October – a surprisingly strong showing in light of a General Motors strike and the layoffs of temporary 2020 census workers.
"There's a lot to like about today's labor market," Powell said. He noted the 3.6% unemployment rate, near a 50-year low, is drawing Americans on the sidelines back into the workforce. And while average yearly wage growth has picked up to 3%, it's lower than anticipated in light of the low jobless rate. Inflation, he said, remains below the Fed's 2% target.
“Of course, if developments emerge that cause a material reassessment of our outlook, we would respond accordingly,” Powell said.
Sen. Ted Cruz, R-Texas, tried to coax the Fed chief into weighing in on the potential economic impact of "a massive tax increase," which some analysts say could be required by several Democratic presidential candidates' proposals for universal health care or free college tuition.
"I'm particularly reluctant to be pulled into the 2020 election," said Powell, a Republican and Trump appointee who has been repeatedly attacked by the president for not cutting interest rates more sharply.

The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP)[a] as of Q1 2014.

Financial position of the United States - Wikipedia

This was 2014. It is now 5 years later.
The net worth of the USA after subtracting national debt, and all other debt was in 2014... $123.8 trillion. Again subtracting National debt at that time of $17.8 trillion.
Today it is $22.6 trillion, a $4.8 trillion increase. OK... that means the net worth of all Americans & Businesses after paying off National debt is: $118 trillion. Geez.

The economy is going backward and accelerating.

Trump is a total moron and a criminal.

You wrote moments ago..The economy is going backward and accelerating.

Hmmm... Highest DJI in history... but economy going backward! Yea....

Friday provided (partial, at least) vindication. Mike Solon, a partner at US Policy Metrics, ran through the numbers in The Wall Street Journal on Monday, crediting the Trump tax cuts for what we’re now seeing.
“In the first five quarters of the Trump presidency, growth has been almost 40 percent higher than the average rate during the Obama years, and per capita growth in gross domestic product has been 63 percent faster,” Solon wrote.
Yes, Trump is Very Good for Your 401k (So Far)

Right NOW 11/15/19