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Did the fed actually say this? There were a bunch of investment bankers who did, and it seems like everyone else ran with the narrative. I haven't seen that the

Did the fed actually say this? There were a bunch of investment bankers who did, and it seems like everyone else ran with the narrative. I haven't seen that the fed actually said it. I think all the fed cares about is bringing down inflation, but if the primary factors in inflation are supply related then unemployment doesn't have to go up for inflation to come down.

JumpCrisscross 4y ago
> Did the fed actually say this? No [1]. [1] https://www.federalreserve.gov/newsevents/pressreleases/monetary20220921a.htm https://www.federalreserve.gov/newsevents/pressreleases/mone...
yieldcrv 4y ago
Jerome Powell said this several times to Congress. You’ll be able to find it, I believe in you.
- JumpCrisscross 4y ago
  > Jerome Powell said this several times to Congress No, he didn’t [1]. The Fed’s statements to Congress are tightly scripted, in part so professionals can pick the meat from such popular nonsense. [1] https://www.federalreserve.gov/newsevents/testimony/powell20220622a.htm https://www.federalreserve.gov/newsevents/testimony/powell20...
  - yieldcrv 4y ago
    tightly scripted to be vague https://www.bloomberg.com/news/articles/2022-09-21/powell-signals-recession-may-be-the-price-for-crushing-inflation https://www.bloomberg.com/news/articles/2022-09-21/powell-si... > Powell told reporters several times that a softer labor market may be necessary to sufficiently bring down demand.
mostly_harmless 4y ago
Yes, but not directly. If you listen to the last FOMC meeting, Powell mentions there will likely be significant weakening of the labor market and a rise of unemployment. As well as his famous "there will be pain" remarks. I don't think he directly said "he won't stop until" though.
- importantbrian 4y ago
  Yeah, I mean maintaining full employment is one of the fed's mandates. It would be an insane thing for a fed chair to just come out and say. I assume he want's to keep his job, and pissing off the Senate isn't the way to go about that.
  - deleted 4y ago
    [deleted]
- Aunche 4y ago
  Unlike smooth talking politicians, the Federal Reserve actually tries to be honest about the effects of their policies. This is something that should be applauded, not exploited as a means to get political capital.
  - aschearer 4y ago
    I'm not sure why you think this is true. For month's Powell has been shifting the narrative. First it was under control, then it was a soft landing, now it's going to be a rough landing. What'll it be tomorrow? I don't think they're being dishonest. I think they're constrained in how forthright they can be, lest they trigger a market reaction.
    - Aunche 4y ago
      > I think they're constrained in how forthright they can be, lest they trigger a market reaction. This is why I said that they try to be honest. Doctors are also inclined to err on the side of optimism when they are uncertain. The difference is that nobody is making conspiracy theories about doctors actually wanting to make their patients sick.

JumpCrisscross 4y ago

> Did the fed actually say this? No [1]. [1] https://www.federalreserve.gov/newsevents/pressreleases/monetary20220921a.htm https://www.federalreserve.gov/newsevents/pressreleases/mone...

yieldcrv 4y ago

Jerome Powell said this several times to Congress. You’ll be able to find it, I believe in you.

JumpCrisscross 4y ago
> Jerome Powell said this several times to Congress No, he didn’t [1]. The Fed’s statements to Congress are tightly scripted, in part so professionals can pick the meat from such popular nonsense. [1] https://www.federalreserve.gov/newsevents/testimony/powell20220622a.htm https://www.federalreserve.gov/newsevents/testimony/powell20...
- yieldcrv 4y ago
  tightly scripted to be vague https://www.bloomberg.com/news/articles/2022-09-21/powell-signals-recession-may-be-the-price-for-crushing-inflation https://www.bloomberg.com/news/articles/2022-09-21/powell-si... > Powell told reporters several times that a softer labor market may be necessary to sufficiently bring down demand.

mostly_harmless 4y ago

Yes, but not directly. If you listen to the last FOMC meeting, Powell mentions there will likely be significant weakening of the labor market and a rise of unemployment. As well as his famous "there will be pain" remarks. I don't think he directly said "he won't stop until" though.

importantbrian 4y ago
Yeah, I mean maintaining full employment is one of the fed's mandates. It would be an insane thing for a fed chair to just come out and say. I assume he want's to keep his job, and pissing off the Senate isn't the way to go about that.
- deleted 4y ago
  [deleted]
Aunche 4y ago
Unlike smooth talking politicians, the Federal Reserve actually tries to be honest about the effects of their policies. This is something that should be applauded, not exploited as a means to get political capital.
- aschearer 4y ago
  I'm not sure why you think this is true. For month's Powell has been shifting the narrative. First it was under control, then it was a soft landing, now it's going to be a rough landing. What'll it be tomorrow? I don't think they're being dishonest. I think they're constrained in how forthright they can be, lest they trigger a market reaction.
  - Aunche 4y ago
    > I think they're constrained in how forthright they can be, lest they trigger a market reaction. This is why I said that they try to be honest. Doctors are also inclined to err on the side of optimism when they are uncertain. The difference is that nobody is making conspiracy theories about doctors actually wanting to make their patients sick.