FOMC Chairman Powell answers a reporter’s question at the press conference.
Dear Chairman,
I know you’re busy. Forgive me for writing without hearing from you. But successful Americans, the ones I work with, still have questions.
But first, I do recognize you’re in a tough spot. An unelected official trying to please those busy bees buzzing about the White House while keeping decorum within your ranks. Yesterday’s unanimous vote speaks volumes to that (Good or bad? I lean toward bad, but you didn’t ask). Excuse my rudeness, but has half the group already landed for their European vacation?
The pressure you’re feeling from the real estate brigade must be immense. They got so fat at the trough gulping away at zero percent rates. Would it kill them to work for a sale? But wow, what a mess on the commercial side. Your phone must be dinging. Thank goodness for airplane mode.
It’s beautiful in Newport, RI. Did I tell you I caught a keeper striper the other night? Anyway, the successful Americans I talk to want rates high enough to tame inflation. Forget digital dollars. Make the dollar as good as gold. It will solve your problems overnight. Literally.
Pardon my bluntness, but I’ve always found when it comes to money that you should go directly to the source. To pick up the phone and speak with the savers of the world. Reports don’t talk. I get to the truth fast because they tell me.
That’s all for now. Hope to hear from you before July’s meeting. Until next time.
Warm regards,
Your Survival Guy
P.S. In case you missed my first letter, here it is.
P.P.S. Keep going up with rates. Money isn’t supposed to be free.
Originally posted on Your Survival Guy.
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