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What Will Jerome Powell Break Next?

(3/8/23) Jerome Powell testifies as expected to the Senate Banking Committee, promising more rate hikes for as long as it takes to quell inflation. There is now a 70% chance of a .5% rate hike this month; terminal rate is now anticipated to reach 5.6%. The on way to bring down inflation is to create a recession. Recap of Money Smart Kids presentation; the need for 20% down. The importance of Money Scripts and money conversations with kids. Just because people can save money doesn't mean that they will. Why limit savings accounts? The Secure Act 2.0 and re-thinking retirement; too many Americans cannot afford to save; mandatory savings to start at 3%; no more "set-it-and-forget-it." Rule of thumb: Save 30% of income; if you can't you have a spending problem, not a savings problem; the financial responsibility of Boomers. Jerome Powell & Elizabeth Warren disappoint with no fireworks, Biden's budget plans for Medicare & the political ramifications of fixing welfare spending. The Debt Ceiling elephant in the room: Government spending. The Texit Bill: A Republic once more?
3:07 - Jerome Powell is Determined to Break Something
14:40 - Raising Money Smart Kids, Boosting Retirement Savings
30:23 - Rethinking Retirement Savings
44:24 - Political Ramifications for Fixing Welfare Spending
Hosted by RIA Advisors Chief Investment Strategist Lance Roberts, CIO, w Senior Advisor, Danny Ratliff, CFP
Produced by Brent Clanton, Executive Producer
The latest installment of our new feature, Before the Bell | "Powell: More Rate Hikes Longer?" is here:
Our previous show is here: "Waiting for the Gadot Recession"
Articles mentioned in this podcast:
"Bear Trap? Market Holds Critical Support"
Video's referenced in this broadcast:
"Raising Money Smart Kids" | Richard Rosso & Danny Ratliff
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#InvestingAdvice #JeromePowell #FederalReserve #InterestRates #RateHikes #Inflation #Markets #Money #Investing
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Lance Roberts
Finally, financial news that makes sense. Lance Roberts, the host of "StreetTalkLive", has a unique ability to bring the complex world of economics, investing and personal financial wealth building to you in simple, easy and informative ways but also makes it entertaining to listen to at the same time.
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