Fed Chair Powell Speaks to David Rubenstein (full interview)
2023 ж. 6 Ақп.
541 052 Рет қаралды
Federal Reserve Chair Jerome Powell says further rate hikes are needed to cool inflation. He also talks about the process of coming up with monetary policy, the jobs market and how much he makes in a year. He speaks during an extended interview with David Rubenstein at the Economic Club of Washington. Rubenstein is also the co-founder of Carlyle Group Inc., where Powell formerly worked, and hosts an interview show on Bloomberg Television.
#fed #federalreserve #rate #inflation #bloomberg
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Thank you for making Mr Rubenstein’s interviews public
We read news in the media that doom and gloom is coming and we just accept it, doom and gloom doesn’t always have to be coming, I’ve read numerous success stories of people that are pulling off tremendous gains of up to $250K within weeks in this crazy market and I just want to learn how to achieve such figures.
I want to hear more from Mr. Powell. Being in stressful job, he hasn’t lost sense of humor. I like the questions as well. Most of common man’s concerns are asked.
Powell, like most Fed Chairs, seem kinda stiff, but this interview was enjoyable. Safe to say, I like him. :)
David is an incredible interviewer. He knows exactly what to ask. And it's a pity that this video doesn't have millions of views.
perhaps because he asks none of the difficult questions about recent profound developments in the world economic system ? this interviews is for the great unwashed morons not for people who know whats actually important
David is really incredible. But in a bad way. He does NOT accept, that Powell does not accept that the FED will give no answer on market speculations.
Keeping aside my critical views, this is a very good insightful interview. J Powell has a tough job, and his eloquent speaking has helped him greatly in the process.
What process?
@@karanr7569 in the process of managing the market perception and conflicting interest.
bro he control the tab of money .
Powell has failed, along with the fed and our government to spend, borrow endlessly. We're paying for their incompetence. I see no redemption for any of them.
@@karanr7569 Is James Powell another puppet of the global elite?
This is very informative to watch. Surprising no one asked these questions before to a fed charmain.
ask and never be invited again
Yay! Great interviewer and great interviewee. So psyched to watch!
Such a good interview. Well done !
It's insane to me that someone in such a powerful, prestigious position is paid such a small amount of money relative to responsibility.
Its insane to me how this sounds like a commedy show
He doesnt need a salary. He controls the ultimate cheat sheet. He knows if markets will go up or down.
they have been paid to create inflation, seems overpaid to me
Small amount? they literally dont crate a single job. This work is vocation not well paid. Every parasite working in government or fed need to be paid basic salaries.
If you pay more, they can’t understand common man’s problems. They will only worry about con man’s.
thank you great interview!
Great interview, great information
lmfaooo is this where you get your info?! yeh inflation is transitory
They are going to continue raising the debt ceiling and the rates as well. Work reports are too good.
@@bigbubble662 I'm sure you have an informational edge that you're making a lot of money from
Thanks guys.
Insightful interview. Really appreciate the straightforward and no bullshit questions and answers!
Powell speaks with Rubenstein, Rubenstein speaks with Biden. Independent? In what world would that be?
Thank you
Outstanding interview and information. Very analytical and cogent explanations
Thanks for sharing this informative interview
its so sad that so few people watch interviews like this.
lol, what a clown comment. It's actually AMAZING to see people like Powell is being labeled as "financial terrorist"
Those are the kind of people who think the president controls gas prices
🙄Is it? Macro Due Diligence doesnt need to hear the Jaw Bone to know what the two hands already have written
@C.D. Besetsny a lot of nuance is lost in text. Also, the average person ought to watch things like this so that they actually understand how our institutions work, regardless of whether or not they're in the markets.
It’s so sad that so few people decide such an important topic as money supply and rate for the country
11:07 why is the debasement of our currency a joke to this crowd?
I think Jpow is very thoughtful and sensible. I feel like soft landing is still a possibility as opposed to recession as so many are predicting.
"What is the salary of the chairman of the Federal Reserve Board?" "It's around 190,000 dollars, I believe" "You think that's the fair salary for the job?" "I do"
Are you lost. This man controls the global economy. Trillions of dollars are under his control. His is bribed and controlled with billions to his pocket
Jerome has a voice of honey, doesn’t he? Man, they know how to pick ‘em 😂
One of the best interviews, very interesting for our times and investors should be tuning into this as we move about 2023..
As an investor, gaining insight into the Federal Reserve's thought process through comprehensive interviews like this one can aid in informed investment decisions. It is not necessary to rely solely on financial analysts.
Lol you actually think the Fed board is making the ultimate decisions about monetary policies?
As an investor you should know then that when the fed speaks it is too manipulate the market. To get people to react to there words to get investors to do something based on the speech so that the fed doesn't have to do what is needed.
is this a scam thread
Stop simpin. This is just one billionaire scratching (Bloomberg) the back of another (Rubenstein)…
THERE BROKE MY GUY
Thanks
Well done to both!
Top interview. Insightful questions covering the full gambit of the FOMC.
It's funny what the audience finds funny in the questions and responses!
its a group of elites and they understand the rigged game.. you cant just answare the question with a direct easy to understand
this should be shown in high schools across the land, be discussed and short tests given
Such a great interview.Thank you so much for posting this.
1:11 Disinflation has begun in the "goods" sector, which is about 25% of our economy 1:21 "Services" sector (except for housing) isn't showing disinflation yet 2:08 The labor market is still extraordinarily strong 5:10 19 people are in the FOMC, but only 12 vote
What is your point?
He said that he is happy that jobs are doing fine, but at the same time, he is going to act if the job market continues to be a good one. In other words: look at what they do, not what they say.
Unemployement numbers only count for people actively seeking jobs. IF 5-10-20% of the population is no longer seeking to work at all because their lifestyles changed during the pandemic, it won't show up on these charts. So basically their measuring stick is broken.
Lit and Bussin' interview 🔥🔥🔥💯ong Dr. J Is Tha King of Tha Dolla!
Good interview, but he should have questioned Powell for raising interest rates too late. I wish there was more talk about the housing market and affordability issues for first time home buyers as well.
what would be the point of asking that question?
Its indirectly answered, they raise rates based on the data and committee, not on predictions. And data is slow to come. Perhaps they are lagging indicators. They don't control fiscal policy.
Great interview, dedicated public servant on full display
do the jobs numbers account for people working more then one job? if more people are working more then one job just to get by, does that mean the policies might be changed on false (for lack of a better word) jobs numbers or does that make enough of a difference to matter?
Interesting point. Is it a fact?
190 grands per year? it's quite low for a charman of Fed
that penny for the person who control bank of banks .
Central bankers make their money before they take the job.
Don't worry he has inside trading
@@iwishiknewhowto1228 no he doesn't. Did you even bother listening to the interview? Quit getting your information from wsb and stocktwits. Educate yourself.
Benjamin Franklin
Shout out to David for trying to get the most out of this interview 😂
The 180k per year part at the end got me haha
That’s what the kids call “getting dabbed on”
lets not talk about how much money he makes from insider trading from stocks.
fantastic interview! just some takeaways the guys on CNBC need to watch this so they can stop with their rate hicks are done and the market is rebounding. Powell is very clear it's 2% and that's it..
I like his honesty! His funny too 👨 I like him
Can somebody tell me what he is talking about when he says the industry that makes up 25% of the US economy?
The obvious shift in Powell's tone and body language when talking about his interactions with the current and former president is worthy of note.
How so. The current president has his coterie running things without him. So theyre interacting with agencies and ngos likes the fed, not him
WTF is everyone laughing about? We are 31 T in debt and Tax payers are paying it down while the fed keeps printing!!!
We are very lucky to have him.
I love how he keeps referring to "softening" instead of just being real and spelling it out for all the Americans who actually want to know the truth.
People who have high debt will suffer the most.
Fed is hawkish, as has been the case since the career politician took office. It was dovish when the business man was in charge.
@@shadow_realm47speaks to itself when he says he had calls with trump but 0 with Biden.
Re-shoring and near-shoring will keep the jobs market robust for some time into the future. Disruptive technologies are starting to come into bloom creating a change in the job landscape that is unprecedented. The days of globalization at domestic expense are coming to a close, and it's showing up in the numbers more and more...
Bingo!!!. FED can not make a soft landine for there will be coming more and more companies to North America, over heating the economy. Not going ti end well at all.
You said the housing services sector is showing disinflation but CPI just updated shelter costs (and other housing related measures) to a 40 year high.
Applaud him!
The uh, laugh track seemed inappropriate.
Congrats on David helping Mr Powel to be less stressful :) At one point i could feel his anxiety
We are into Globalisation Century Hence Paper less Budget Is Expected Do you know Green Budget What is Blue Economy ? Kindly Answer
Fine, I will publish the materials for you.
Great
How could one man have so much power over the entire world's economy?
In an interview a few years ago he said he wouldn't bet agaist America. As him how much of his net is offshore.
To those who think this was a great interview, read this and my other comment. There was no direct question about having inflation at zero percent and there was no mention that government tries hard to lie to the American people about the actual inflation rate. Per the 1990 methodology at present, the actual inflation rate is about 4% higher than claimed. What the Fed has been doing over the past 14 years has been an egregious wealth dividing program.
Need someone to enlighten me. He keeps saying the housing and rent need to deflate, while the mortgage rates are skyhigh, how can he expect people to lower those prices? For rent specifically. If my mortgage rate is this high, I would increase my rent to compensate that
Why would the Fed board not be allowed to own individual stocks as opposed to broad market indices? Fed policy is about the macro, not individual companies or sectors. If anything, they should only be allowed to buy individual stocks (after removing exposure to market Beta).
greatest money counterfeiter in the world.
What we really need is to increase our labor force participation rate it's still lower than what it could and should be and it is what making our unemployment rate appear so low they're still many sideliners you need to be enticed to return to work
Most powerful man on Earth.
I wonder if they are counting how many jobs that are being worked are people with two or three jobs just to make ends meet.
Ya, we believe
End The Fed!
We will not tell you anything on how corrupt we are because that would look bad.
Lol this guy David is amazing
The same question for 35 minutes is a missed opportunity to learn more about Jay. David is a great interviewer I watch most of them and read his latest book. I don't know why on this one he did not broadened the scope. Specially with a guy he knows well, Jay worked for him at Carlyle for like 10 years.
theres only so much you can ask the Fed Chairman .. he wont reveal too much
@@johnd3124 well I think the point is they could have discussed more of his pre fed background more
Let's attack corporate greed not the middle class with rate hikes!!!!
fomc full form?
It began with a small increase in prices - a few cents here, a few dollars there. But soon, inflation began to spiral out of control, unstoppable and unyielding. At first, people tried to adapt. They cut back on expenses, made do with less, and tried to weather the storm. But as inflation continued to climb, it soon became clear that these measures were not enough. The cost of living became unbearable, and people were forced to make impossible choices. Do they pay rent or buy food? Do they pay for healthcare or keep the lights on? As the situation grew more dire, some turned to crime, stealing what they needed to survive. But even crime couldn't keep pace with the rapid inflation. Prices continued to soar, and people began to lose hope. Some took their own lives, unable to bear the crushing weight of financial ruin. As the government struggled to reign in inflation, they turned to extreme measures. They printed more money, hoping to stimulate the economy and bring prices back down. But it was too little, too late. Inflation had taken on a life of its own, unstoppable and unchecked. In the end, inflation consumed everything. It devoured the economy, destroyed livelihoods, and left nothing but chaos in its wake. And as the world descended into madness, the unstoppable force of inflation continued to rage on, a monster that could never be defeated.
The Federal Reserve Act of 1913 says it will back each Federal Reserve Note with gold. They don't do this. The Federal Reserve Act of 1913 says that bankers are to be held personally responsible if they fail. They are not. The Federal Reserve Act of 1913 says if a Fed bank is insolvent, it is to become the property of the US. It doesn’t. The Federal Reserve Act of 1913 says that insolvent Fed banks shall forfeit their shares in their Regional Fed. They don’t. The Federal Reserve has 3 mandates -people now only talk about the dual mandates, which are 2% inflation and low unemployment-the third mandate is to keep long term interest rates constant. They don't do this either. Why do we have a Federal Reserve again?
superboss of bank of banks , i wonder how much inside trade he did .
If any of them wanted to be transparent they would teach us all of this in school because we don't have the money to go to the big huge colleges
Must be weird for Jay being interviewed by his old boss
I think that before we can start having meaningful discussions about how humans can continue to progress, innovate, produce and exchange goods and services in responsible, peaceful and fair ways on this planet, we have to understand how we got to where we are today. By now we know that modern money is basically smoke and mirrors and it is about getting governments, corporations, businesses and people into debt. The idea is to get others to pay you interest. The cruel joke is that the money given out for the loans that make up this debt does not exist. The money is created by entering numbers into the borrowers account when the borrower takes out the loan. As the loan is paid back, the money that was created for the loan is eliminated and no longer exist, but the institutions that created the money get to keep the interest that was paid. So, the more debt there is, the more money there is. The other cruel joke is to get a loan like this, most of us have to put up some collateral, so if you default, they can take ownership of your collateral. So basically, they get your possessions of whatever collateral you put up for free and with no risk since the money they “lent” you did not exist. Supposedly, this has been determined to be a legitimate way to do business. Governments, media, academia, banks, financial institutions and central banks like the US Federal Reserve and the major corporations and the equity market traders and of course the clergy of the major religions, all work together in partnerships to create and control the systems that create this money and take a lavish cut in the process. They all have members and associates of special privileged clubs that are taken care of and served by the rest of society. Many of these members are also connected with the leaders of organized crime such as the mobsters and the cartels. It does not appear that these people are interested in doing any productive work. It looks like they are only interested in trying to administer and manage the activities of society and have nasty competitions among themselves for these privileges and to not care if they are causing harm to people. It does not look like, they are interested in the wellbeing of others. For them, it is a power struggle for status and wealth among themselves and they try to suck others or to force and threaten others to fight their battles for them. They do not value human life other than their own and sometimes do not even value their own life. To add to the deceptions and confusion, they also blame and accuse each other for all of society’s problems. The corporations and the banks blame the governments, and the governments blame the corporations and the banks. Different levels of governments blame and accuse each other, and corporations, banks and business also blame and accuse each other. The clergy of all the major religions preach that the stories in their books are real but all others religious books are mistaken. Of course, they are all fiction. Let’s try fighting back and not get sucked into their clubs and into their way of thinking. You really do not have to go into debt by borrowing money like this. You also do not have to invest in other people’s businesses, and you do not have to listen to other people advice and ideas about investing and about the economy or about their stories of magical people that live in the sky. Earning an honest living and learning to invest in yourself and in your family requires honest work and honest work is challenging and hard to do. There is never a lack of honest work that can be done to earn an honest living for yourself and family. Let’s start telling governments, banks and the financial institutions and financial advisors and wall street traders and even the clergy to go pound salt! And to go learn how to earn an honest living instead of trying to sucker other people to pay them interest on fake loans or to give them money for fake charities or to give them money so that they can “invest” it for you. We can do this by rejecting the bullshit that all these organizations try to get us to believe and learn how to do some fact checking and learn how to be honest and not to lie and to deceive people for personal gain. Of course, this is all easier said than done but, if we do not have anybody saying this or good moral leaders that can set good examples and teach and guide us in moral ways, our primitive survival instincts will tend to overpower our thinking and decision making. History is full of evil, cruel and psychotic people that have convinced others to follow them and to also be cruel and evil. If there is any chance for humans to continue making progress, they have to learn to reject the lies and the deception and start being honest with each other. Making up stories or fake reasons to explain things, especially about people with magical and supernatural power that live in the sky is never beneficial in the long run. Trying to justify evil, cruel and bad behavior because others are doing it is also not helpful.
Yep!! Lol stop using their monopoly money and use constitutional 💰.
Also read VATICAN assassin's/the creature from Jekyll island/secreta monita/the Vatican billions/codeword barbelon... Anyone who wants to know more about how the system works
in other words, decentralization could be key... Satoshi nakamoto
This isn’t merely your belief- this is a constitutional mandate for hard money in Article 1, Section 8 of the Bill of Rights. They’ve usurped the constitution with their usury
Most powerful man in the world right now
190k a year............hahahahah.......not
Real Estate MUST come down
That was interesting; I initially thought "I don't want to hear a billionaire talk to a financial elite" but I was pleasantly surprised.
He's not a billionaire
@@thejuicerr Rubenstein is a billionaire; Powell is a member of the financial elite.
Rubinstein is & Powell is a multi millionaire
Neither of them are billionaires. You probably have a network equal to them lol
What an outstanding interview . Jay Powell is so articulate and immaculate in his responses. Respect !
Yes so much respect for someone who keeps screwing middle class
We need a level playing field.
Tackling inflation with a strong hand and remaining immune to political pressures requires a very strong personality . Jerome Powell alas does not come across at all as such a man .
Last year, the Fed raised its benchmark interest rate seven times, from zero to a range of 4.25% to 4.5%. The Fed's policymakers have projected that they will keep raising their key rate until it tops 5%, which would be the highest level in 15 years. As borrowing costs swell, fewer Americans can afford a mortgage or an auto loan,I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?
Yeah markets haven't been deeming the Fed's guidance that they will maintain high rates regardless of swelling debt costs in order to control inflation as credible. I woulld underweight stocks for a little as the market begins to correct because honestly I still think stock prices are massively inflated at the moment.
Something that gains interest. Won't be much. But, better than paper losses for the foreseeable future or don't touch it. Markets will probably flatline for a couple of years.
lmao i like this interviewer
More people have to work because of high prices, which explains low unemployment. additionally people are working for cheaper dollars and paying more taxes. Therefore, the middle class is taking it in the chin and paying the bills. The f*ck? Additionally, I want to see how many assets the fed members sold before slamming on the brakes. I’m also curious to see if they are shorting the market at all.
$190k salary for Fed Chairman? WTF! A fresh out of college software engineer makes that at a FAANG company. That salary is too low given how impactful this position is on finances of others.
Good guy ChairPow
Price stability target: no flexibility Employment rate target: it is what it is
We have overpaid dunces in economics at the Fed. Interest rates were kept too low and for too long, the bond buying was excessive and the Fed was too slow at starting to raise rates (should have been done at least prior to 2012), and once started, look what Powell gave us, a piddly 0.25% hike. They should all be terminated. All that is important to them is manipulating up the stock market for the wealthy. They do not care how they are forcing the responsible non-wealthy to lose.
what an insightful comment considering they gave 300B to their friends in silicon valley just days after your comment.
@@markpitchford7375 Thanks. No one wrote the Fed like I did, over 500 times from 2010 to 2020 directly. I know what's needed and all they do is screw over the non-wealthy. What I see as obvious isn't popularly known but slowly more are catching on.
WHO owns the federal reserve. WHERE does it's money come from? Taxpayer or Owner or Debt?
i like this man，great information ，from China mainland
Why are people laughing. Fed ratings affect people's livelihoods.....
So much love for J Pow. I don’t get it. This must be a thread of homeowners, landlords, and business owners cause everyone else is struggling more than ever.
Fed interview is now a comedy.
Imagine what the future will be?🤑🤑🤑
True
He almost had him from the question at 21.25.
Amazing this interview and questions are planned because I saw exactly same interview, questions and answers, and laughs some days ago with another interviewer. This people managing the world think that people are stupid or what..
btw the Fed chairman makes more than $190K, it's around $226K, which incidentally is about 18% inflation if you want to measure it that way. (Irony) But he's also worth between $20 and $40 million bucks, so he could work for free and still have a huge pile of money most Americans will never see in their lifetimes. He will never feel the pain of the little people who pay his salary.
looking at the comments here, seems to me a lot of people don't realize that the actions of the federal reserve are unconstitutional
🙏
34 trillion in debt, 34 trillion ?!?!?!?! and yall want me to pay my taxes, our lives our a joke.