Trump ramps up attacks on Powell, demands 'loser' Fed chair lower rates 'NOW'
Trump ramps up attacks on Powell, demands 'loser' Fed chair lower rates 'NOW'
He’s going to blame Powell for the recession/depression, and the sheep will baaaa in unison.
They'll do more than that. I hope Powell has good private security.
I'm sure the chair of the Fed is well protected.
Someone tried telling me the other days interest rates won't go down because that would be a stupid move...
That's not going to factor in Trump's decision at all, either Powell caves or trump seizes more control and Republicans refuse to stop him.
If you're referring to our exchange, you either misunderstood me or are misrepresenting what I said. I said that the odds of rates going down are decreasing because of Trumps idiocy. The Fed are increasingly more likely to raise rates than lower rates, but if Trump forces rates down it's going to blow the whole thing up. The market is not going to like that at all because the Fed maintaining its independence is integral to the functioning of the US economy.
and the democrats will continue to help
They're gonna Fauci this fucker
The idea behind lower rates is to promote investment. But investment is being severely discouraged by the absolute dumpster fire of a political environment the country is in right now where nobody knows if a "good" investment will suddenly turn into a terrible investment at the whim of the irrational toddler in charge. As a result, lowering the interest rates would most probably do nothing more than promote inflation. Powell knows that and this is why he refuses to lower the rates.
The president throwing a tantrum and trying to pressure a position that can only properly do its job of regulating the economy if it is shielded against political influence will only push investors away even more.
Buckle up Americans, looks like a great depression is coming. And it was entirely manufactured by your president's incompetence.
"Ah you think depression is your ally? You merely adopted the depression. I was born in it, molded by it. I didn't see optimism until I was already a man, by then it was nothing to me but unrealistic idealism!" - Me.. and.. most millennials, probably.
Crash of '87
4yo me:
Buckle up Americans, looks like a great depression is coming
So that's what all the MAGA idiots are going for
The greatest depression, some will say
Whole lot of so-called "leftists" have been saying and continue to say that Kamala/Biden would have been just as bad because something something argle bargle, "centrist" and "status quo".
I would say most of the stupidity is confined to the right and a whole lot of permission structure given to them by the "liberal media", AKA corporate media bothsiderists, but there is a small sliver of both-siderist idiots on the left, too.
What's hilarious to me is that the Fed did cut rates at least twice I can recall in the months leading up to the inauguration
Then this dumbass comes in and fucks everything up
No, this is not incompetence, it is insider trading. They had a plan with tariffs and made their money. When Trump finally falls the people that raised up that useful idiot will all get to keep the insider trading money they made by yo-yo'ing the economy.
The issue the OC is talking about isn't something you can just walk back and take your winnings. Owning the husk of a once great economy isn't really a great outcome.
I don't think anyone understands that if he ousts Powell/gets his interest rate lowered, we're looking at a depression or worse. That kind of economic crisis has the potential to ruin literally anyone, including the wealthy/elites.
Translation: the early numbers on unemployment are awful
Who could have known that firing a quarter of a million federal employees while making it impossible for industry and commerce to function and kneecapping new energy developments would increase unemployment? No one knew economics could be so complicated.
"Actually anyone who was paying attention in Economics 101 would underst..."
gets punched in the shoulder
"Oh, right...yeah, nobody knew it was this complicated."
It’s funny that he’s yelling at Powell for something that Japan, Canada, and the EU are doing. This is a strategically coordinated (and imo fully justified) retaliatory fiscal policy being enacted by our (former) allies in direct response to our apocalyptically idiotic tariff policies. This is the Find Out part.
This is a relatively gentle "find out" from them too. If they decide to actually be mean we are super boned and 2/3 of the country will deserve it either for voting for it or for not voting against it. It's only fucking April and we have to make it to January for the next congressional session...
It’s gentle, but it’s moving with the certainty of a trash compactor on the Death Star, and R2D2 isn’t gonna save us because we sold him for parts.
This is a relatively gentle “find out” from them too.
Well, the US is majority-white.
Wow, he's doing what Putin wasn't stupid enough to do. But the question is: are the republicans stupider?
hold my cousin wife's beer
"Everyday I think people can't get any dumber, and everyday I'm proven horribly wrong."
I have no idea who originally said this, but it rings true every day.
I'm glad that, for now at least, donvict cannot unilaterally set both tariffs AND interest rates.
FFS.
Someone somewhere better be digging a shallow orange grave with plans to fill it soon...
this is exactly like his first term. I mean this one thing. Everything else has been much worse but this is how he got rates low before covid hit.
Not the same at all like Covid. The difference between then and now is our recession was caused by reduced spending due to Covid and closed ports, again due to Covid.
Our current situation is caused by idiotic foreign and international trade policy. No amount of reduced rates will cause foreign entities to spend more. Covid was reduced domestic spending. Now is reduced international spending.
no Im talking about him bitching to the fed for a few years before such that rates were already lower than they should be going into it. Rates at the end of obama was going up and his bully pulpit is the reason the fed slowed and started dropping them despite the economy being hot as hell at that point.
Maybe he could generate some more NFTs, that's always good for the economy.
If I were Powell I'd tease him about it. Demand Trump lower tarriffs that are wrecking the economy. Tell him to go ask Trtumps boss Putin if thats ok.
Something will be lowered alright.