Powell says Fed has made 'quite a bit of progress' on inflation but needs more confidence before cutting

"We've made quite a bit of progress and in bringing inflation back down to our target," Powell said at a central banking forum in Sintra, Portugal.

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I hate this out of touch fuckstick so much
- The face of a man that had a chance to fix shit but flinched when banks and their bad decisions were starting to (understandably) fail. We're past that point now. All these central bank heads are just praying the US doesn't implode.
- Yeah, historians are going to look back at this time period and realize it was a depression.
  
  We don't need lower interest rates, we need businesses to pay their employees. We need price controls on medical care and housing. We need legislation. Laws, not free money for banks.
  
  If we even have historians in the future.
- This is a bad take. The federal funds rate is currently about 4.5%, which is a historically normal value. During Clinton's term the rate hovered around 5%. Having the rate at or near 0% is terrible, it means there's no margin left in the economic system and it really only benefits bankers and other financial interests.
  
  4% is a good place for the ffr.
The economic beating of the plebes will continue until economic morale of the ruling class improves!

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