“Given how far we have come, along with the uncertainties and risks we have faced, the economy is proceeding carefully,” Powell said.

After another round of data that indicated that the consumer is being pushed to the breaking point (and the majority already have), today the Federal Reserve decided to not raise interest rates again, though it was heavily insinuated in their last meeting in September that one more would be coming; which still could be the case the Fed reconvenes in December for a final time this year.

But the message sent today was that the U.S. economy, save for a wild card event, will still maintain higher interest rates for longer. Fed Chair President Jerome Powell basically ruled out rate cuts or slashing “quantitative tightening” in the near future.

https://youtu.be/tvINoM7tkXE

In a statement the FOMC made no reference to sharply higher bond yields, but merely repeated that “tighter credit conditions for households and businesses are likely to weigh on economic activity, hiring, and inflation.”

Financial conditions have tightened significantly in recent months, driven by higher longer-term bond yields, among other factors. Because persistent changes in financial conditions can have implications for the path of monetary policy, we monitor financial developments closely.

Powell said his press conference today

But Powell also painted a rosy outlook for the U.S. economy, stating:

Given how far we have come, along with the uncertainties and risks we have faced, the economy is proceeding carefully.

We will make decisions about extent of additional policy firming and how long it will remain restrictive based on the totality of incoming data and monetary risks. Recent indicators suggest that economic activity has been expanding at a strong [pace], well above earlier expectations.

In light of the uncertainties and risks, and how far we have come, the Committee is proceeding carefully. We will continue to make our decisions meeting by meeting, based on the totality of the incoming data and their implications for the outlook for economic activity and inflation as well as the balance of risks.

He added
https://www.youtube.com/watch?v=4pPabpuX-og

AUTHOR COMMENTARY

“Economic activity has been expanding at a strong [pace],” Powell says. –gag me. I mean, seriously, who actually believes this malarky? This is the same garbage that Treasurer Janet Yellen said recently that the U.S. can “absolutely” fund two wars, and that “the American economy is doing extremely well.”

It’s all lies, it’s all deception. As Brian from ClearValue Tax pointed out, when rates are inevitably cut (especially as we get closer to the presidential [s]election), then more money printing will just commence.

We know the score and we know that these economists on TV and the Federal Reserve are just lying; and though I am unable to report on the specifics on a consistent basis, those that do follow economic trends and data understand where this is all headed.

Furthermore, these goobers are talking about hitting their 2% target inflation rate, again, even though you and I know it is the farthest thing. I recently discovered a new website called Truflation which actually provides more realistic numbers; and they say that since the beginning of 2020 to this present day, aggregated inflation and the average American purchasing power has been eroded by 23.56%. Now that actually sounds more realistic to what we are forced to spend.

So, it just goes to show that the Feds are totally lying; and when do cut rates, get ready to watch that number explode!

Burning lips and a wicked heart are like a potsherd covered with silver dross.

Proverbs 26:23

[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).

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