An adult conversation

Powell wants an ‘adult conversation’ about US debt.

Has he forgotten that it’s election year?

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I don’t think he’s running for office this year.

DB2

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Don‘t you need adults as a prerequisite for an adult conversation?

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Well, I wouldn’t mind sitting down and having a beer with either Dimon or Powell.

DB2

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But Powell also warned about the limited scope for the central bank’s monetary policy (lowering interest rates to encourage more borrowing and stimulate economic growth) to address a future recession and called for more active use of fiscal policy (government taxing and spending) to stabilize the economy going forward.

My comment Powell has a very limited view of fiscal policy. He is not discussing retooling the nation. He does not discuss what retooling the US economy will accomplish.

Powell does not count on the fiscal side.

He does not see some prices reverting. He is wrong with oil and nat gas right now. He is wrong with economies of scale going forward. Ah now he has flipped and is talking commodities coming down. He does not understand the value of retooling. Now 60M is talking office space coming down. LOL

How many taxpayers are in the US in 2018?

In 2018, 144.3 million taxpayers reported earning $11.6 trillion in adjusted gross income (AGI) and paid $1.5 trillion in individual income taxes. Tax year 2018 was the first under the Tax Cuts and Jobs Act (TCJA).Feb 3, 2021

How many individual tax returns does the IRS process each year? The IRS processed 164,997,000 individual tax returns in 2022, and 166,898,000 individual tax returns in 2021.Sep 18, 2023

Powell is talking about sensible policies not tax cuts or budget cuts. He is talking about retooling without saying it.

He says sensible policies later in the interview. We have sensible policies now.

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