Fed Chair Jerome Powell is PISSING OFF Wall Street Suits.

this video is brought to you by life

insurance because i'm pissed and you can

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metcalf.com life okay we just cannot get

a break when it comes to the federal

reserve look last week everybody's been

worried for months about last week's

march 16th fed meeting we were supposed

to have the fed meeting get a summary of

economic projections the meeting came it

went everybody was chill with it we got

our 25 basis point hike we had liftoff

and the market took off everything was

fine yet what ended up happening

this okay we ended up getting a whole

schedule of bullcrap conversations by

bostic powell daley master bullock

kishkari evans and barkin all to discuss

the fed raising rates and then today

we get this long letter from j-pal this

long letter that comes out and it's his

speech on restoring price stability

which has now motivated companies like

goldman sachs to expect the federal

reserve to raise interest rates by 50

basis points at both the may and june

policy meetings this is literally the

complete opposite of what jpow told us

on march 16th like i'm beginning to lose

my mind because on march 16th jay powell

went real deep on the idea that look

inflation's gonna peak three to four

months later we're gonna monitor the

data we're going to watch the data we're

going to steadily raise rates

and after we monitor the data and

steadily raise rates the first three or

four times or whatever until we get to

september which is when we expect to be

past our peak or we can look and go okay

is inflation coming down or do we need

to go with a 50 basis point height

after

telling all of this to our face last

wednesday

all of a sudden today they decide they

need to come out and change their

verbiage from steadily to now

expeditiously

take a look at this quote there is an

obvious need to move

expeditiously to return to the stance of

monetary or to return the stance of

monetary policy to a more neutral

level

and again

he ends his speech with however the risk

is rising that an extended period of in

of high inflation could push long-term

expectations remember he's always

worried about those inflation

expectations uncomfortably higher which

underscores the need for the committee

to move expeditiously as i have

described now fortunately his

description is basically just hiking

every single meeting which is what he

said last time but why did they change

their verbiage from steadily to

expeditiously if you're basically just

saying hey hey hey we're going to do the

same thing we said in the last meeting

we'll raise rates 25 basis points per

meeting until we get to 1.9 as the

midpoint towards the end of the year

well unfortunately they had to throw

this note in here we will take the

necessary steps to ensure a return to

price stability in particularly in

particular if we conclude they have not

yet but if we conclude that it is

appropriate to more aggressively or move

more aggressively by raising the federal

funds rate by more than 25 basis points

at a meeting or meetings

we will do so

okay all right so wait a minute

you did say that during the meeting on

march 16th

the big change is now you're saying

expeditiously and because you're saying

expeditiously and you're laying the

seeds here that that 50 basis point hike

is coming you're now freaking out the

folks over at goldman sachs who now say

quote our best guess is that the shift

in wording from steadily in january to

expeditiously today as a signal that a

50 basis point hike is coming the

russian invasion of ukraine and the

possibility that financial conditions

could tighten more aggressively in

response to a faster pace of fed

tightening both present downside risks

to our new forecasts okay great so wait

a minute the war in ukraine supposed to

be a quote game changer j pal you gave

us your plan 25 basis point hikes

why all of a sudden are you coming out

with this u-turn now suggesting well

we're going to move expeditiously and

remember we might have to go 50.

what happened to war being a game

changer what happened to just steadily

raising the rate 0.25 basis points and

waiting for that new now delayed

inflation peak what happened to that why

are you freaking out the market now we

were literally going from what could

have been a quiet period in the market

of

no fed until may the beginning of may

the first week of may we could have

literally had six weeks of quiet we're

now going from six weeks of quiet to

this stupid schedule

we're all going off yapping this week

like crazy to screw with the market

should just give it a freaking breather

it's been five months of red okay

we've had enough it's time to chill out

dang it powell you're keeping me awake