October 15, 2018.

Jerome Powell, who just took office in 2017, has had some headaches these days.

As the chairman of the Federal Reserve, this position has many honors and titles outside.

For example, "the Tsar of the world economy", "the emperor of the dollar", "the president of the US dollar".

Wherever you go, you will be treated like a head of state on the red carpet. The Federal Reserve Chairman's briefcase contains the secret of the "economic engine" of the United States and even the world, and many people compare it to the nuclear button of the US president.

But these honors have little to do with Rom Powell for the time being.

Because these honors are accumulated in his predecessors and exes and former exes.

As the newly appointed Fed chairman, Jerome Powell has only been in less than a year.

Compared with this brand new and powerful position, Jerome Powell is more adaptable to the position he used to be the deputy finance director of the Old Bush administration and the Washington think tank.

When people talk about the Federal Reserve Chairman and the titles of honor above, the first thing they think of is the retired Jewish old man Alan Greenspan.

It wouldn't be him Jerome Powell!

Jerome Powell didn't say it on the surface, but he felt a little angry inside.

Because Greenspan is so powerful, he has retired from that position. Now he is sitting on it, who controls the highest power of a country's economy, and this right can even radiate to the whole world!

On the surface!

He is the king of the world economy!

The American economy, which Jerome Powell took over, was a good time after a decade of bull market.

The overall American market has almost been in a state of ups and downs over the past decade after the financial crisis in 2008. Especially the US stock market, it has created a peak in the past century.

Simply put, in the eyes of the world, Jerome Powell took over the great situation left by Alan Greenspan.

Jerome Powell admits this.

But now his first challenge is here.

Since October 2018.

First of all, the US stock market fell, the worst decline in a decade.

Then there is the futures market. In addition to the unexpectedly strong gold, it also fell with a madness.

There is also a sweater war initiated by the uneasy and unreliable gentleman.

And the continued strengthening of the US dollar.

All kinds of trends indicate the possibility of a financial crisis.

In the past half month, Jerome Powell has been very busy. Even the top of his head, which was already silver-haired, seemed to be a little white.

Jerome Powell now feels that Greenspan is not easy.

He has only been in office for more than a year and has encountered this crisis. In fact, he is not as powerful as before, but he is already exhausted.

If there was a financial tsunami of 2008, the financial collapse.

Jerome Powell didn't know if he could withstand it.

Now I have to go up even if I can’t stand it, and even if I can stand it, I have to go up even if I can.

The position of Fed Chairman is not just glory, he also has responsibilities.

This morning, Jerome Powell, in the Federal Reserve, discussed with think tanks and other Fed members and supervisors how to save the market.

How to deal with the past in this possible upcoming financial tsunami and financial crisis.

One of the supervisors suggested: "The impact now is not as terrifying as ten years ago! Compared with the despair of the Ray Man brothers, ten years ago, when compared to now, it is like the difference between an elephant and a little ant!"

Another supervisor agreed: "It's true! I still have lingering fears about that horror!"

Another bald supervisor suggested: "This is not a financial crisis, this is not a financial tsunami, and at most it is just a small and normal market downturn!"

A Fed think tank also agreed: "The stock market has not collapsed yet. The futures market is only temporarily downward, which will not have much impact on the overall market at all!"

“…”

These Fed managers were arguing, making Jerome Powell frown!

Because they have been arguing for several days, they have not made many good ideas, and they will only make a fuss about interest rate cuts and interest rate hikes.

The problem is that the impact of interest rate cuts and interest rate hikes on the overall economy is too strong and will have a huge impact on the whole world. This is a strategic weapon that is not so easy to use frequently.

Rates are a tightening of currency.

A interest rate cut means monetary easing.

These are two completely opposite moves.

Look at how they are quarreling so much.

Jerome Powell couldn't help saying: "Do you have no other good way besides hikes and cuts?"

After all, he is the chairman of the Federal Reserve and is a person who was pushed to the front desk by the Tianlong family to act as a manager.

Since he can sit in this position, it means that he has received almost all the support of the American Dzogami family.

Although it does not have the prestige accumulated by Greenspan over the years, it depends on the position of Federal Reserve Chairman.

Everyone should respect Jerome Powell.

Everyone stopped quarreling.

The meeting scene was silent for a few minutes.

Until Jerome Powell couldn't help but want to say something.

Another Fed think tank sitting next to him couldn't help but whisper:

"This market downturn is actually very small for the overall market over the years... There are many ways to stop it, such as we can learn from the federal Treasury Secretary's approach in 2008..."

Jerome Powell: "What to do??"

"We can ask Buffett to do some operations in the market that we want him to do, so that investors and the public can see the confidence of the market!"

"The stock god is like this."

"Everyone's improvement in the market will definitely make a huge improvement!"

"At this level, confidence is actually the most important thing, because the market has not yet jumped!"

Hearing the staff proposed by the think tank, Jerome Powell began to ponder.

This is a good idea.

The current market downturn is still within an acceptable range. The remedy that should be taken is how to stop it. It is not yet time to vigorously rescue the market and save it.

Letting Buffett stand up with the myth of wealth like this can indeed mention the effect of greatly boosting confidence.

In 2008, at the invitation of the then Finance Minister, Buffett did the same.

The effect is remarkable.

But there was another think tank that immediately objected:

"It is indeed a good idea to ask Buffett to come out! But have you ever thought about the price?! Buffett is not so easy to invite. Even in 2008, he did have the idea of ​​saving the market. But when he entered the rescue, he made his request, and finally got the satisfaction and obtained the benefits he wanted!"
Chapter completed!