https://www.forexlive.com/centralba...ts-not-looking-yet-like-a-recession-20240805/ We must be a little careful over-concluding about the jobs report So far, his comments are focused on economic data, not the turmoil in markets. The Fed does need to be forward-looking in setting policy If you look at domestic purchases, the GDP was relatively stronger than we expected We're going to get a lot of information between now and the next meeting The international component of this is a factor It's the market to react and the Fed's jobs to act, one of those has a lot more volatility than the other Asked about emergency cut, says he can only speak for himself Everything is always on the table We will respond to conditions If the economy deteriorates, we will fix it; the Fed will respond to conditions I'm not going to bind our hands going forward If jobs data is a longer-term sign, we should then respond to what those forces are We've very restrictive and you only want to be restrictive like that if you think the economy is over heating
Goolsbee having less brain than a (watch)dog. If the FED has not heard the bells yet...the recession is already there, it is not about 'looking' anymore. That is past. Question is only, how deep the recession will be. The FED missed the rate cut on last meeting. If they were prudent, knowing that there actions are lagging, they had cutted by 50 points. At least they needed to start with any rate cut on last meeting. Now it is so obvious they are too late (again). They need so many signs, that they will respond with any actions, it is ridiculous. Just government bureaucrats, slowly administrating as always. But the US economy is depending on. Too bad. The FED is making it worse. If they have it realized now there will be large emergency rate cut NOW.
Fed comments are not important. Focusing on the chart is important. Anyway, there were tons of trading opportunities today; various Asian / European / US index futures, copper, crude oil, gold futures, major currency futures, cryptocurrencies move massively. It is a great day for the day traders.
Sold all my investments last week too. Quitted all swings longs in addition. You need to have cash in those days.
No matter what bad economic number comes out they will never ever admit the economy is in a recession. They are too frightened by the R word.....The recession is always after the fact it has taken place and is finally over.....
The saddest part of all of this is after years of publicly demonstrated ineptitude - someone gave Austin Foolsbee even more responsibility.
See that, King Solomon has declared no recession. He's still alive today, working at the Fed in disguise. Here's his past: In Seach Of, what FOXNews and the History Channel would look like they were combined into one program.