Federal Reserve Chair Jerome Powell set talk about President Donald Trump’s tariffs straight on Wednesday after the central bank kept interest rates steady as officials expect higher inflation and lower economic growth in the coming months.
During a press conference following the Fed’s decision, Powell said that the central bank is waiting to cut rates until it understands the impact of tariffs. He stressed that the current strength of the economy allows for patience, but noted that “every forecaster you can name” is predicting a “meaningful increase” in inflation due to Trump’s signature economic policy.
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“All through that chain, people will be trying not to be the ones who can take up the cost, but ultimately, the cost of the tariff has to be paid. And some of it will fall on the end consumer,” he continued.
The Dictator of Crypto responded, of course, with his usual stream of juvenile insults. Chief among them is threats to fire Powell and put himself in charge. Which would likely result in an immediate crash of stock markets around the globe and even he is probably not stupid enough to do that.
But nobody's made money ascribing smarts to that fat old fuck.
Meanwhile, Israel is screeching about an Iranian missile hitting a hospital. I don't expect the world to care very much. We haven't seen global outrage from the kitsaps striking Ukranian hospitals. And correct me if I'm wrong, but israel has repeatedly struck hospitals in Gaza, often killing scores of patients, doctors and nurses, while claiming there was a terrorist in there, somewhere.
There was a time when the DPRK were selling their SRBM flight test upgrades to Iran. Better than SCUDS for accuracy. As we've seen in Ukraine, the DPRK versions weren't that good out of the chute in terms of accuracy, but are improved now. There's going to be collateral damage no matter what. Powell uber alles. China decreases their US treasury debt again. Gold is holding steady.
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