Jerome Powell on the Global Economic Outlook
Economy | Information | History | Online | Facts | World | Global | Money
In a historic move last December, the Federal Reserve increased interest rates for the first time in almost a decade. Questions about US economic indicators and the global economy loom large in advance of the next rate-setting meeting in June. As the economic recovery around the world remains fragile, Jerome H. Powell, a member of the Board of Governors of the Federal Reserve System, looks at prospects for the short- and long-term in the United States and the implications for US monetary policy.
Comments
-
maximum employment in a world of automation and digitalization is a wrong target. The right target should be a new income system
"the right system does not need job creators it needs a proper distribution of wealth archived by technology. The free Market can't solve this problem, because capitalism benefits only the few capitalists which own and control technology and resources for profit, while workers are being payed less and less because of rising supply and decreasing demand in the labor force. Technology will replace the labor force step by step and politics needs to build a system which adapts to that inevitable fact and actually makes everyone benefit from this change in the best possible way, because the resources of the earth and the technology developed over many generations are common property" - Manuel Hinzen
0m 0sLenght
11Rating