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 Post subject: Re: Does anyone care about the economy?
PostPosted: Fri July 31, 2020 8:01 pm 
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The Master
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 Post subject: Re: Does anyone care about the economy?
PostPosted: Wed August 05, 2020 5:43 pm 
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The Master
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Now we’re ducking talking:

Democrats introduce bill to give the Federal Reserve a new mission: Ending racial inequality
https://www.washingtonpost.com/business ... Fstory-ans


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Wed August 05, 2020 6:13 pm 
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tragabigzanda wrote:
Now we’re ducking talking:

Democrats introduce bill to give the Federal Reserve a new mission: Ending racial inequality
https://www.washingtonpost.com/business ... Fstory-ans


The headline says equality, the bill says equity. Those are very different things.

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I really hope we get this figured out soon


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Wed August 05, 2020 6:39 pm 
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Guys, I am not a moderator! I swear to God! Why does everyone think I'm a moderator?
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doug rr wrote:
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Great now I'm horny

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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:06 pm 
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The Federal Reserve is making a massive policy shift today, replacing 'inflation targeting' with 'average inflation targeting.' Basically this signals that instead of shooting for 2% inflation (which has consistently been below target for a decade) they will now shoot for inflation above 2% for the foreseeable future to bring average inflation over the longer term up to 2%.

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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:09 pm 
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In English please


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:22 pm 
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tragabigzanda wrote:
In English please

The Fed is promising more inflation, zero percent interest rates for a long, long time and that they won't raise them even when unemployment out output stabilize.

This is basically the inverse of what The Fed did under Paul Volker in 1980. In 1980 Volker announced the Fed's intention to bring inflation dramatically down, today the Fed is announcing the opposite. The reason is that many economists believe that if people/"the market" understand the Fed's intention AND BELIEVE THEM that it can make the adjustment much quicker than it would be otherwise. This worked very well for Volker, they rapidly brought inflation down. The hope here is the same but in the opposite direction.

Today is just talk. It's an extremely overt signal to everybody to expect inflation which should then lead to price and wage increases if people believe that there will in fact be inflation.

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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:23 pm 
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It's about to get real inflated up in here.

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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:24 pm 
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How much longer am i going to be jammed as an appraiser though.


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:24 pm 
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and when will my marcus goldman sachs savings account interest rate go back to 2% again


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 3:26 pm 
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Strat wrote:
and when will my marcus goldman sachs savings account interest rate go back to 2% again

Nominally? It'll probably happen before too long if the Fed is successful. In real terms? A long, long, long time.

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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 9:58 pm 
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Mickey wrote:
It's about to get real inflated up in here.


You elect people who run the country like it's the 60s you get the 70s.

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Kaius wrote:
I really hope we get this figured out soon


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 Post subject: Re: Does anyone care about the economy?
PostPosted: Tue August 25, 2020 11:19 pm 
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The Fed is still paying interest on excess reserves, so I'm not sure if we should totally believe them yet.

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