Dan Celia: Federal Reserve Plans to Make Fundamental Change

Dan Celia: Federal Reserve Plans to Make Fundamental Change
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PHILADELPHIA – Nationally syndicated host and biblical investing authority Dan Celia discusses Jerome Powell‘s comments at the press conference yesterday.

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The Fed Wants To See Real Progress

"Jerome Powell spoke at the press conference. He took a lot of questions. Apparently, he sees a much stronger economy and higher inflation but no rate hikes. That was enough for all the indices to quickly turn positive. The Dow ended up 189 points or half of 1 percent. The S&P 500 was up as well as the NASDAQ, and the Russell 2000 was up three quarters of 1 percent. The Volatility Index was down a little bit. So, the Federal Reserve says they want to see some moderate increases above 2 percent in inflation, maintaining 2 percent for an extended period of time. They will continue buying bonds until they see real progress to the 2 percent goal."

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"He made it very clear that they will not be reacting on projections. They want to see real progress. This is a fundamental change in how the Federal Reserve does business. And he was very clear about that. He sees possible rate increases in 2023, but he said the economy is very fragile. It is very volatile, and it is very uncertain, even though he does believe that the economy is going to maintain some strength. The question is, how far is he willing to go over and above the 2 percent mark before he takes some sort of action against inflation? We don't know. He didn't indicate that. We'll see how markets react for the rest of the week and into next week."

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Dan Celia is the CEO and President of Financial Issues Stewardship Ministries. Married to Registered Nurse, Yvonne, in 1980, Dan has two married daughters, is blessed with sons-in law who love the Lord, and has seven grandchildren. Dan has worked for 35 years as an entrepreneur and businessman, starting eight corporations and co-founder of two others. In 1999 Dan sold his Small Trust Company (managing over 900 million dollars) to go into Ministry. Dan has developed and uses a biblically-responsible system of financial management with great success. He started a radio ministry in 1997 as a part time ministry and has seen the Lord expand and bless this ministry to his current full-time ministry. Dan has interviewed newsmakers and pundits like Steve Forbes, Ben Stein, T. Boone Pickens, Tony Perkins, John Alison, Rayola Dougher API, Congressmen, Senators and Presidential candidates. He is proud of his partnership with the American Family Association where he serves as a board member. Dan is now on over 640 stations three hours daily, NRB TV, BizTV, Dove TV and CBN Life Style Network. Financial Issues is heard in every state in America and throughout the internet globally. Financial Issues has supporters from over 17 countries. Dan is a Regular Weekly Contributor to Townhall.com (the number 1 source for conservative news and analyzation). Dan has been a guest on Fox Business, Bloomberg, Salem Radio, Family Net, 700 Club,and many others . He is a conference speaker, author of six books, publishes a weekly newsletter and has been Executive Producer of several video productions and FISM TV is producing original family friendly content and other video projects all keeping with in FISM’s Christian world view.
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