*POWELL: `WE WILL PROCEED CAREFULLY' ON WHETHER TO HIKE AGAIN

*POWELL: FED PREPARED TO RAISE RATES FURTHER IF APPROPRIATE

*POWELL: REAL RATES POSITIVE, WELL ABOVE MOST NEUTRAL ESTIMATES

*POWELL: PERSISTENT ABOVE-TREND GROWTH COULD WARRANT TIGHTENING

— zerohedge (@zerohedge) August 25, 2023

“There was nothing in that speech that we didn’t know before. What was notable this time, was that it was packaged slightly more hawkish than dovish. And that’s what people are picking up on:” ⁦@elerianm⁩ https://t.co/scH6i8W3IH

— Lisa Abramowicz (@lisaabramowicz1) August 25, 2023

Lost in the commotion over Powell today was the final Umich sentiment survey. Credit conditions have become so acute that more wannabe homeowners are complaining about punishingly-high mortgage rates now than they are about nosebleed house price levels.

— David Rosenberg (@EconguyRosie) August 25, 2023

Interest expense on US Federal debt is now at a record 19.5% of US government revenue.

This is well above the 16.9% seen in the 2011 debt ceiling crisis.

As interest rates soar, interest is now one the US government's biggest expenses.

At current rates, within 10 years… pic.twitter.com/oQMzOotcEK

— The Kobeissi Letter (@KobeissiLetter) August 25, 2023