Chairman Jerome Powell joins Princeton University center for finance for a discussion on Monetary Policy. Chairman powell talks about the current state of the economy and how the pandemic continues to affect it. This lasts about an hour. Lasts. Markus welcome back to another webinar. For everyone worldwide, we are happy to have jay powell with us. The chairman of the Federal Reserve bank. And the governors of the Federal Reserve. Hi, jay. Good to have you. Chairman powell good to be here. Markus thanks a lot. It is great to have you. He is part of the Advisory Council here at princeton, so we are grateful you can spend some time with us today. A quick overview of the topics we would like to cover today. We would like to talk about deflation and inflation perhaps, and then about financial dominance, a little bit of fiscal dominance, debt levels. And then we will contrast the covid crisis with the Global Financial crisis of 2008. We will talk about Central Bank Independence, and also abo
Hi, jay. Good to have you. Chairman powell good to be here. Markus thanks a lot. It is great to have you. He is part of the Advisory Council here at princeton, so we are grateful you can spend some time with us today. A quick overview of the topics we would like to cover today. We would like to talk about deflation and inflation perhaps, and then about financial dominance, a little bit of fiscal dominance, debt levels. And then we will contrast the covid crisis with the Global Financial crisis of 2008. We will talk about Central Bank Independence, and also about exit strategies later on. Let me start with the new, flexible inflation targeting which came out of the fed, i was wondering whether we can specify a little bit more the framework, the time period that it takes and the rationale behind it, the maturity of the debt contacts, what is the average, the price, how long it takes on average. And then about inflation measures as well because now with the covid crisis, the consumption c
Lebenthal, i begin with you because there are interesting moves youre making. Jim lebenthal, you sold caterpillar. Were getting a stimulus speech tonight. We may get infrastructure in the road ahead whats up . Well, look the market is anticipatory and thats why cat is not just up off of the lows from march its up 34 year over year thats going back to before the pandemic so lets face it there is a lot of good stuff priced into caterpillar, and thats partially reflecting low Interest Rates which is why youve got roughly a 25 times multiple for caterpillar, thats as good as it gets and as a portfolio manager, i need to sell high after ive bought low. Caterpillar has been great its up about 60 in two years for me im taking some of the proceeds and im putting it into something that i can buy low thats boeing. Im adding to my boeing position im also, scott. Im sure you want to dance with this im also adding to my cash ive raised it to 12 . Im not making a heroic market call with that all im
Welcome back, to another webinar. To everyone worldwide, we are happy to have jay powell with us. The chairman of the Federal Reserve bank. And the governors of the Federal Reserve. Chairman powell good to be here. Markus good to have you. We are very grateful that youre with us today. A quick overview of the topics we would like to cover today. We would like to talk about deflation and inflation perhaps, and that about financial dominance and fiscal dominance and debt levels. And then we will contrast the covid crisis with the Global Crisis of 2008. And all about exit strategies later on. With the new inflation targeting which came out of the fed, i was wondering if you could specify a little bit more of the free and framework, the time period that it takes now behind it, the maturity of the debt contacts, how long it takes on average. And then inflation as well, because now with the covid crisis, the consumption cost is shifting over the time period. So it is expensive. How do you me
It is great to have you. He is part of the Advisory Council here at princeton, so we are grateful you can spend some time with us today. A quick overview of the topics we would like to cover today. We would like to talk about deflation and inflation perhaps, and then about financial dominance, a little bit of fiscal dominance, debt levels. And then we will contrast the covid crisis with the Global Financial crisis of 2008. We will talk about Central Bank Independence, and also about exit strategies later on. Let me start with the new, flexible inflation targeting which came out of the fed, i was wondering whether we can specify a little bit more the framework, the time period that it takes and the rationale behind it, the maturity of the debt contacts, what is the average, the price, how long it takes on average. And then about inflation measures as well because now with the covid crisis, the consumption cost is shifting over the time period. So it is expensive. How do you measure infl