Perspectives; Thoughts; Comments; Opinions; Discussions

Posts tagged ‘Goldman Sachs’

The Fed’s Favorite Inflation Indicator Just Spiked Even Higher

By JOHN HUGH DEMASTRI, CONTRIBUTOR | September 30, 2022

Federal Reserve Chair Powell testifies on Capitol Hill in Washington — **Graeme Jennings/Pool via REUTERS**

The core index of the Federal Reserve’s preferred measure of inflation went up in August, despite a historically aggressive campaign of interest rate hikes intended to slow it.

The Personal Consumption Expenditures Price Index (PCE), which measures the value of goods and services purchased by “persons” residing in the U.S., was down slightly in August from 6.4% to 6.2% annually, but was higher than economists anticipated, according to CNBC. This decline was almost entirely off the back of falling energy prices, with so-called core PCE, which does not consider the more-volatile food and energy indices, increasing in August from 4.7% to 4.9% annually, according to the Bureau of Economic Analysis.

This new data closely mirrors the results of the more well-known Consumer Price Index (CPI), released earlier this month, which also saw core prices rise as overall inflation remained near historic highs. As inflation lingers, investors have grown increasingly concerned that the Fed’s aggressive campaign of interest rate hikes will continue unabated, prompting the Dow Jones Industrial Average to seesaw in and out of a major slump known as a bear market.

Aug PCE #inflation hotter than expected, w/headline +6.2% down from +6.3% in Jul but higher than expected +6%. Core +4.9% (up from 4.7% in Jul & ahead of 4.7% expectations). This is not positive, but it also won’t be terribly shocking after firm CPI & PPI, @knowledge_vital writes pic.twitter.com/uVoEUVl4tJ
— Holger Zschaepitz (@Schuldensuehner) September 30, 2022

The Fed has been consistent at all levels that high interest rates will remain “until the job is done,” even at the cost of jobs or triggering a recession, as Fed Chair Jerome Powel has said multiple times. On Tuesday, Neel Kashkari, head of the Federal Reserve Bank of Minneapolis, said that the Fed would not repeat the mistakes of the 1970s by bringing down interest rates too quickly, with Vice Chair Lael Brainard echoing that sentiment in a Friday morning speech, according to CNBC.

This messaging, in conjunction with the Fed’s aggressive rate hike campaign, has led Goldman Sachs to slash its expectations for the S&P 500 stock index by about 16%, anticipating the Fed will raise rates by at least another 1.25% by the end of the year, to 4.5% from 3.25%.

Food, rent and utilities are among the critical products that the Fed anticipates will continue to face significant inflation until next year at the earliest as the Fed struggles to bring inflation back to its target of 2%.

Category:

Political

Tagged with:

Today’s Politically INCORRECT Cartoon by A.F. Branco

A.F. Branco Cartoon – Winning the Pooh

A.F. BRANCO | on September 15, 2020 at 7:45 am | https://comicallyincorrect.com/a-f-branco-cartoon-winning-the-pooh/

Wall street is funneling money to the communist Chinese Government through Alipay IPO.

Donations/Tips accepted and appreciated – $1.00 – $5.00 – $25.00 – $50.00 – $100 – it all helps to fund this website and keep the cartoons coming. Also Venmo @AFBranco – THANK YOU!

A.F. Branco has taken his two greatest passions, (art and politics) and translated them into the cartoons that have been popular all over the country, in various news outlets including “Fox News”, MSNBC, CBS, ABC, and “The Washington Post.” He has been recognized by such personalities as Dinesh D’Souza, James Woods, Sarah Palin, Larry Elder, Lars Larson, Rush Limbaugh, and shared by President Donald Trump.

Category:

Political

Tagged with:

THE GOLDMAN SACHS LEAK: Hillary, ‘There is such a bias against people who have led successful and/or complicated lives…’

Posted on October 8, 2016

URL of the original posting site: http://girlsjustwannahaveguns.com/goldman-sachs-leak-hillary-bias-people-led-successful-andor-complicated-lives/

No, Hillary, there is no bias against you. There is just the feeling of disgust for people who cheat their way to the top, doing whatever it takes, sacrificing whomever it takes.

By Lee Fang, Zaid Jilani, Alex Emmons, and Naomi LaChance

Clinton’s remarks during paid speeches to Goldman Sachs, Deutsche Bank, Morgan Stanley, and other groups were leaked online Friday afternoon by WikiLeaks. Clinton, who was paid upwards of $225,000 per speech, earned more than $22 million on the paid speaking circuit after resigning as secretary of state.

The excerpts are revealed in an email from Tony Carrk, the research director of the Clinton campaign, to John Podesta, the campaign chairman, and other top campaign officials. Carrk, who did not respond to a request for comment, highlighted in the memo the most politically damaging quotes from each paid speech, under headers including “CLINTON ADMITS SHE IS OUT OF TOUCH,” “CLINTON SAYS YOU NEED TO HAVE A PRIVATE AND PUBLIC POSITION ON POLICY,” and “CLINTON REMARKS ARE PRO KEYSTONE AND PRO TRADE.”

The wealth Clinton accumulated was a topic at the paid events.

Discussing middle class economic anxieties, Clinton told a crowd at a Goldman Sachs-sponsored speech that she is now “kind of far removed because the life I’ve lived and the economic, you know, fortunes that my husband and I now enjoy, but I haven’t forgotten it.”

But the discussions were also an opportunity for Clinton to speak candidly about policy, politics, and her approach to governing.

Touching on her view of developing financial regulations, Clinton declared to a crowd of Goldman Sachs bankers that in order to “figure out what works,” the “people that know the industry better than anybody are the people who work in the industry.”

At the Goldman Sachs Builders and Innovators Summit, Clinton responded to a question from chief executive Lloyd Blankfein, who quipped that you “go to Washington” to “make a small fortune.” Clinton agreed with the comment and complained about ethics rules that require officials to divest from certain assets before entering government. “There is such a bias against people who have led successful and/or complicated lives,” Clinton said.

At a speech for Morgan Stanley on April 18, 2013, Clinton praised the Simpson-Bowles deficit reduction plan — which would reduce corporate tax rates while raising the Social Security age. “But Simpson-Bowles — and I know you heard from Erskine earlier today — put forth the right framework. Namely, we have to restrain spending, we have to have adequate revenues, and we have to incentivize growth. It’s a three-part formula,” she said.