Will Powell be able to “talk down” the metals and calm the jittery nerves of stock market participants?
(by Half Dollar) Yes, that was a trick question.
Regardless, the Fed has just concluded its most recent 2-day FOMC meeting.
The Fed has kept rates are their current levels, to nobody’s surprise, as has been to nobody’s surprise:
That’s right folks, for the mass killing of Elderly American Savers and the mass enslavement of America’s Children continue.
Such fun times!
We thank you, Fed and the US Federal Government (see Janet “Never-Another-Financial-Crisis-In-Our-Lifetimes” Yellen if you don’t understand how the blame is rightly placed on both)!
You see, I’ve got this stupid crazy big bet placed on Granny dying from hypothermia this Winter as she opts to pay for her meds instead of her home heating since she can’t afford to pay for both as her savings have totally been depleted and her fixed “income” stopped keeping up with expenses long ago!
Although next year, if there’s a canned dog food shortage, I might place my bet on Grandpa succumbing to starvation sometime in the Spring because he can no longer afford to purchase food with all of his other expenses consuming over 100% of his income!
Fun times, indeed!
So step into the Rigged Casino and place your bets, folks!
Expect for America’s Children, of course, because everybody knows America’s Children are broke and don’t have any money for Gambling in the Rigged Casino anyway.
But isn’t it super-duper awesome knowing that those unable to say “no” to all of this fiscal and monetary policy, that is, America’s Children, don’t really matter to any of this anyway because in the end, they’re just even more enslaved to our evil, corrupt and Unconstitutional US Financial System Beast than before!
And if these words hurt, good!
Just telling it like it is!
Here’s the just-released Fed Statement not telling it like it is (bold added for emphasis and commentary):
The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.
Don’t confuse it with a narrow range!
With progress on vaccinations and strong policy support, indicators of economic activity and employment have continued to strengthen. The sectors most adversely affected by the pandemic have improved in recent months, but the rise in COVID-19 cases has slowed their recovery. Inflation is elevated, largely reflecting transitory factors. Overall financial conditions remain accommodative, in part reflecting policy measures to support the economy and the flow of credit to U.S. households and businesses.
Let’s fix it for them: “credit to U.S. households and businesses, and free money for ourselves and our bestest buddies in Washington and on Wall Street”.
The path of the economy continues to depend on the course of the virus. Progress on vaccinations will likely continue to reduce the effects of the public health crisis on the economy, but risks to the economic outlook remain.
No comment, actually.
Not that I have several, nor that I’m not qualified to make them, but, well, you know.
The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. With inflation having run persistently below this longer-run goal, the Committee will aim to achieve inflation moderately above 2 percent for some time so that inflation averages 2 percent over time and longer‑term inflation expectations remain well anchored at 2 percent. The Committee expects to maintain an accommodative stance of monetary policy until these outcomes are achieved. The Committee decided to keep the target range for the federal funds rate at 0 to 1/4 percent and expects it will be appropriate to maintain this target range until labor market conditions have reached levels consistent with the Committee’s assessments of maximum employment and inflation has risen to 2 percent and is on track to moderately exceed 2 percent for some time. Last December, the Committee indicated that it would continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage‑backed securities by at least $40 billion per month until substantial further progress has been made toward its maximum employment and price stability goals. Since then, the economy has made progress toward these goals. If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases may soon be warranted. These asset purchases help foster smooth market functioning and accommodative financial conditions, thereby supporting the flow of credit to households and businesses.
There’s that “smooth market functioning” I wrote about on Monday.
Sadly, “market interventions”, “market manipulations”, and “market rigging”, the real phrases for the Fed’s euphemism “asset purchases”, are the only things offered on the menu for the foreseeable future, which means until the outright rejection and ultimate death of the US dollar as we currently know it.
In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on public health, labor market conditions, inflation pressures and inflation expectations, and financial and international developments.
The Fed is all-knowing and omnipotent!
Of course, in reality, the Fed tells lies, mainly, and the truth at times, but only when the Fed wants to rub it in our faces.
Gold & silver gyrated and then moved higher in the first few minutes:
There must be “more buyers than sellers” as the Manipulation Deniers like to say, such as this Manipulation Denier in Gold & Silver Advocate’s Clothing.
Nonetheless, everybody knows ‘Ol Half Dollar’s call.
Fed Chair Jerome Powell will be spewing lies and misdirecting with contrived nonsense at 2:30 p.m. EST: