Well, howdy there, Internet people. It's Bell again. So today, we're going to talk about

Powell's speech, the Fed's job, and the rest of the year. We're starting off with a question today.

Bell, I just finished watching Jerome Powell answer questions. As a Canadian, I have to ask. Why isn't he advising Trump or Congress?

No offense, but he's the only American in government I've seen speak about the economy

that isn't a hoser. I had to Google what hoser meant. I guess it means idiot.

Jerome Powell is the chair of our Federal Reserve. He has the same

job Kearney used to have. There is kind of a wall between the Fed and politicians. The Fed has two jobs.

Control unemployment and inflation. Period. That's it. Yes, our elected officials could absolutely benefit from listening

to Powell, but the Fed is supposed to be nonpartisan and simply control unemployment and inflation,

regardless of how bad the policies coming out of DC are. So, what did Powell say in his speech? Basically, that unless

Trump does something about the trade war, we're in the muck for the rest of the year. That's the

summary. In explaining why the U.S. is possibly locked in for the rest of the year, he said,

quote, what looks likely, given the scope and scale of the terrace,

is that we will see certainly the risks to higher inflation, higher unemployment, have increased.

Trump has recently pushed the Fed to lower interest rates,

and going back to that wall that exists between politicians and the Fed,

Powell basically said he didn't care what Trump said,

and that his wishes would not factor in at all.

Quote, we are always going to do the same thing,

which is we are going to use our tools to foster

maximum employment and price stability for the benefit of the American people. We are always

going to consider only the economic data, the outlook, the balance of risks, and that's it.

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