At this moment, no one will have any influence. and has as great a speech as “Jerome Powell,” the chairman of the United States Federal Reserve, or the FED, no matter what this man says. The whole world had to stop and listen with bated breath. Because just a few sentences, a few words It has a tremor effect. Following the ups and downs of global asset markets, why every six weeks do investors all over the world tune in to listen to this old man? and tried to interpret his every word To decide the life and death of America’s economic future. and assets all over the world, the skill of “Jerome Powell” has been widely known since the COVID-19 crisis began in early 2020, with him spearheading the leadership of the US Federal Reserve. Huge amounts of money were injected into the system. to support the American economy Which really worked as expected. But in exchange, inflation numbers are soaring all over the world. and to extinguish the intense heat The Fed had to raise the policy interest rate quickly and sharply several times, to the level of 5.25-5.50%, in order to reduce liquidity in the system to fight inflation. Finally, inflation gradually decreased to 3.2% in February. with new risks emerging That is a sign of economic slowdown. and decreased employment It is likely that he will have to cut interest rates again. If inflation is controlled as targeted 2% Look back at the history of the current Fed Chairman. Born in Washington, D.C., his father was a lawyer. He graduated with a bachelor’s degree. in Political Science from Princeton University. and was an assistant to Senator from Pennsylvania “Richard Schweiger” belonging to the Republican Party for a full year before receiving another law degree. from Georgetown University, he began his career as an assistant judge on the U.S. Court of Appeals. He then moved to become a professional lawyer with 2-3 large law firms before discovering a new path that paved the way for his true future, that is, working at the famous investment banking firm “Dillon Read & Co.” He Accumulated serious experience in the financial industry for more than 6 years, until he rose to the position of vice president of the company. I’ve done it all: fundraising deals, founding banks for large businesses. and mergers and acquisitions When his old boss “Nicholas F. Brady” was brought in to be America’s Treasury Secretary, “Powell” was approached to be Assistant Secretary of the Treasury during the time of “President George H. W. Bush” at that time he was only 39 years old after his father, President Bush, expired. Powell returns to private finance He held the position of managing director of “Bankers Trust”, co-founded partner of “Carlyle Group” and managed several private mutual funds until the era of Democratic President Barack Obama He was nominated to be a member of the Fed Board. By creating works that are clearly evident: Tighter regulation of the financial industry After America learned a big lesson from the Hamburger crisis later in the era of “President Donald Trump” is also highly trusted. Appointed as the 16th President of the Federal Reserve after Janet Yellen, he showed his vision with a policy of raising interest rates. and the shrinking of the Fed’s balance sheet. to suck liquidity out of the global financial system As a result, global asset prices decreased. The move greatly angered Trump. So much so that he branded Powell the worst enemy of the American economy. Worse than China The number one enemy of all time, the Fed chairman was forced to reverse course and return to loose monetary policy to stimulate the economy. Until encountering challenges from the COVID-19 crisis that has spread around the world since the beginning of 2020. At this event, Powell chose to solve the problem by injecting enormous amounts of money into the system. The side effects that follow are Soaring global inflation numbers If you’re in trouble, you have to change the game to solve it. by accelerating the increase in policy interest rates too quickly to the level of 5.25-5.50%, including reducing liquidity in the system once again To fight inflation amid the rampage of the inflation demon. “President Joe Biden” chose to nominate Powell for a second term as Fed chair until 2026, at least for the next two years. He is the most powerful man in the world. Who can decide the future of the value of every property in this world. Miss Sapphire, click to read the column. More “Celebrities Around the World”
