since it is still buying bonds, it's gotten so bad if j powell acts tomorrow. i'm not kidding. i think a lot of people would start buying stocks in the news because they're waiting for the other shoe to drop yes. for the market, a two-front war. the one in ukraine and the one where they need to raise prices. maybe russia will decide it doesn't need ukraine i doubt it maybe j. powell can slow the economy down to the point where supply chains can catch up if you have enough supply to sell, then perhaps you can't raise price because the buyer won't accept it like they are now. we have to break either one of these and you will get a snapback rally of epic proportions. the kind we haven't seen since 2020 where the kids start playing call of duty unless the war wins the war of words with russia, we have to expect more torturous days as at last they fall by the way side in droves jeff in texas. jeff >> it's jeff in texas. >> chipotle, the end of last year what do i do with it >> this is a great american kim. this is one of the zpoks look back and say when did we last get to buy this c

i mean, how is j powell playing a role here? we've seen him try to keep markets happy. we've seen him try to keep president biden happy in order to re secure that re nomination. so where does he stand and all of this and what kind of legacy is he leaving behind right now? well, you know, i think we're going to find out for more years is a mighty long time because that that's another entire tenure when it comes to chair power he's, he's certainly young enough to, to, to serve those last 4 years of his term once he's confirmed and that's, that's a big issue because he's technically, you know, not been in office since february 5th, even though the bylaws dictate that he remains in office until there's a new chair. but he still has not been voted on by the senate. so we're still waiting for that moment, but his legacy is, in my mind at least very much largely to be determined. he's done a very good job of bailing out the financial markets. let's see what his ability now is to engineer a soft landing for the united states economy given the inflationary backdrop that hasn't f

i never thought the j powell, the federal, the c b, or need to the central bank to confuse you asked about fighting inflation and increasing interest rates. i think they're kind of scared about crashing the markets. i think j powell showed that quite clearly when he took over as the chairman of the fed, that he did not have the stomach to really crash markets or coast increasing in distress. re civilian sharply is going to have a very detrimental impact on the, on the market several. so at the mo, looking to find the nasdaq is down about 20 percent from his high, at the end of 2021. i think it was time to get scale to that level. so i was thought to the central banks would as soon as the market showed a correction would pack on the interest rate hikes missing that happening already. so i think the smart money is now saying we see this rebound de la nasdaq jumping with reap center space is sort of saying, well, i think j power is bluffing. he's not going to raise the straits 50 basis points in marsh. my only raises what if i base points. this might give him a reason this russian invas

j. powell, the vice chair lael brainard, nominee professor lisa cook, nominee professor phillip jefferson, and the nominee to be the director of the fhfa, sandra thompson. all of those, we were fine with the vote. by the way, some of those nominees have significant republican support. at least one, i think, has no republican support on the committee, but that didn't matter. we were prepared to go and vote on these nominees. but the sixth nominee that chairman brown wanted to have a vote on, sarah bloom raskin, and i told him then -- this was like last thursday -- that she had chosen not to answer quite a number of important questions that we had that is the normal part of the vetting process that a committee goes through when there's a nominee. in particular, she chose not to answer questions about a highly unusual transaction that occurred on a company on whose board she sat after she left the fed, her position as governor at the fed and then senior treasury staffer. chairman brown said he'd help us get answers to these questions but we've been stonewalled. we were stonewalled before. we

and more specifically, j. powell. how do you see his legacy playing out and who is he serving right now? i mean, does it all come back to the stock market? well, i think he serves biden. i think it seems like these fed chairman always work for the incumbent. and not, not only the incumbent president but the whole administration, they try to help reelect whoever's there. and i think they also have a desire to be popular. they just don't want anything bad happening on their watch . and they're not thinking about the long term help of the economy. they're acting in the, in the short interest is very political expedients, which is exactly what they're not supposed to do. they're supposed to be independent above the fray, not worry about the polls. not worrying about having to administer the bitter tasting medicine that the voters have to swallow. they haven't done that, they just kick the can down the road. they try to figure out how we can numb the markets to the pain. but while the underlying condition that's causing th

i don't think j. powell has the stomach for this. he knows to get inflation under control. he's going to have to increase in straits much, much further. i mean, look back to the ac is when, when the yields on the 10 year bond with an i 50 or 16, send them as an unthinkable level these days. that was what was necessary to get in place under control by then. and inflation rate is back at those levels. so does j power the someone to do that? no, i don't think he has. he showed us that back in 2018 when he took over, he was going through a bit of a tightening cycle, then the equity markets didn't corporate impact very quickly. so i think is going to follow that that sort of muster again, is going to basically chicken out as soon as the markets don't agree with them. i don't know what point i will be asking them 20 percent or 30 percent. something like that. i think because i can't take anymore. i'm going to jump back in. exactly like michael said, so i think that's how it's going to unfold. so in the very short term, we're not that far away from recognize him. if you look at th

of senators recently, i won't name them, they both voted on in favor of the re nomination of j jerome powell, as chairman of the federal reserve board. but at the time they talk to him a lot about the feds role in the economy of buying bonds and you know, the need to begin tapering that and bring it down. and i just saw them the other evening and they were very upset that in their view, and i don't know if it's accurate. the fed has not been tapering off, is not been coming coming out of the economy. so it raises this question. do i like to ask you is what blind spot and what mistakes this is the fed making right now in this, in your view? or is it managing the portfolio of u. s. economy as, as, as well as it can, are, you know, how would jason fermon council the fed to begin dealing with some of these questions where people begin to feel like this is a rigged economy and not one where they, the market is working as well as it could, yes, it's steve last year, the fed was way behind the curve. it was constantly saying the inflation is about to go away. it's not a problem. you know, implying

j. powell stay on. what has been the republican response? they are lighting that branch on fire. the republican minority is getting their preferred federal reserve chair, a member of their party, but they won't support the president's extraordinarily qualified vice chair for supervision. instead the republicans are smearing her daily with unfounded accusations and ugly innuendo and now they are threatening to break the senate by using a loophole to blow up the process we all agreed on last year for how to deal with nominees in this closely divided senate. the republicans lack the votes to block this nomination from going forward so now they refuse to participate in the process that they previously agreed to follow in the hopes that they can prevent a nominee with majority support from getting a confirmation vote. if republican senators want to boycott the raskin nomination, that is their choice, but democrats are the majority in this body and we can choose how to respond. republicans who want to vote against raskin are free to do so, just as i intend to vote against powell, but w

the biggest risk is not putin, it's j powell, christine legard and bailey in the u.k.i have had conversations about inflation for almost year and half now, you were very early in the game in terms of identifying it and getting concerned about it, tightening would be a good thing to get that in control, no >> yes so over time no question we need low inflation to have sustainable healthy growth and max employment and of course that was turned around but yes, over time, we need to get out of this low-rate trap we're in. unfortunately you can't do that in a panelist way and there san adjustment period that needs to take place until you get from here to there. the one problem with the fed's ability to deal with inflation if you look at the last four years every tightening cycle ended at a rate below the previous peak of the tightening cycle implies that the fed is maybe going to get the rate to 1.5 to 2% before something breaks, the problem is, something may break while inflation is still very high which would create a real problem for them. >> peter, this is courtney there