i wonder what kind of stress levels Jerome Powell is under, like when he comes home from work and his wife asks him how his day was, and he's just like, the president has been blasting me on twitter again and i might be put on trial for refusing to change the interest rate.
"It’s wild how this investigation comes exactly when the Fed refuses to cut rates. Whether you like Powell or not, the timing smells like pure political pressure. Hard to see how the USD stays 'neutral' after this. Stacking sats feels safer every day."
I criticize him all the time, and here Trump's actions will no doubt cause turmoil, and might send inflation through the roof. He is also acting like a Maoist or soviet central planner. But....
Fuck the fed. This quasi public creature created to benefit big banks deserves to get destroyed. Maybe this wasn't the best way to do it, but this sacrosanct alleged independence was always bullshit. The fed exists to serve the banks. Maybe it's time to tear the whole system apart.
It is profoundly disquieting to witness such a descent into institutional depravity in our own lifetime. Jerome Powell stands as one of the few remaining anchors of professionalism and restraint within the US administration.
Trump’s evident determination to force him out regardless of the consequences for the US and global economies speaks to a reckless contempt for economic stability and sound governance.
Jerome might stand there like a cardboard suit expressing the reverence of the private institution masquerading as a public one, with even less of personality than his predecessors, thinking Benanke and Greenspan (as I faguely remember) but I was under the impression the Fed answers to the current administration (evidently erroroniously.)
If, for example, the polit-bureau of the CCP wanted to adjust the repo rates set by the PBC, would the PBC be able to disregard and stand in the way of what the administration asked for?
We live in a time of competition where private interests are protecting their own, subverting public interests. This industry leader versus that industry leader, the secondary benefit to the public, is only a secondary benefit. But now that we've have hit inflection point, power is able to interfere and subjugate national interests.
There's no wrong or right. There's just actions and reactions. Also there's no national policy that favors stability and there's no recklessness. You might say there's policy that favors the status-quo, and obviously that's true as the status-quo is nothing to do with neutrality, it's to do with prevailing power dynamics. All there is, is a consortium of interests that moves to acrue power, as power abhores vaccums. As they say.
i wonder what kind of stress levels Jerome Powell is under, like when he comes home from work and his wife asks him how his day was, and he's just like, the president has been blasting me on twitter again and i might be put on trial for refusing to change the interest rate.
I just saw this. Here's Powell's announcement:
view on x.comFederal reserve account link:
view on x.comFederal reserve website link:
https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm
"the mandate of price stability" — sure
if you hated inflation until now - get ready what real banana republic🍌 inflation with an unhinged maga fed will look like
Jpow is just an actor trying to sell us inflation as a good thing.
https://twiiit.com/federalreserve/status/2010510130970849338
https://twiiit.com/WatcherGuru/status/2010514562697584789
"It’s wild how this investigation comes exactly when the Fed refuses to cut rates. Whether you like Powell or not, the timing smells like pure political pressure. Hard to see how the USD stays 'neutral' after this. Stacking sats feels safer every day."
man this is crazy. rules based order is going up in flames
https://twiiit.com/Badhombre/status/2010447677486768503
🤡 🌍
Enjoy the show
What the actual fuck?
I criticize him all the time, and here Trump's actions will no doubt cause turmoil, and might send inflation through the roof. He is also acting like a Maoist or soviet central planner. But....
Fuck the fed. This quasi public creature created to benefit big banks deserves to get destroyed. Maybe this wasn't the best way to do it, but this sacrosanct alleged independence was always bullshit. The fed exists to serve the banks. Maybe it's time to tear the whole system apart.
It is profoundly disquieting to witness such a descent into institutional depravity in our own lifetime. Jerome Powell stands as one of the few remaining anchors of professionalism and restraint within the US administration.
Trump’s evident determination to force him out regardless of the consequences for the US and global economies speaks to a reckless contempt for economic stability and sound governance.
Yeah? I disagree.
Jerome might stand there like a cardboard suit expressing the reverence of the private institution masquerading as a public one, with even less of personality than his predecessors, thinking Benanke and Greenspan (as I faguely remember) but I was under the impression the Fed answers to the current administration (evidently erroroniously.)
If, for example, the polit-bureau of the CCP wanted to adjust the repo rates set by the PBC, would the PBC be able to disregard and stand in the way of what the administration asked for?
We live in a time of competition where private interests are protecting their own, subverting public interests. This industry leader versus that industry leader, the secondary benefit to the public, is only a secondary benefit. But now that we've have hit inflection point, power is able to interfere and subjugate national interests.
There's no wrong or right. There's just actions and reactions. Also there's no national policy that favors stability and there's no recklessness. You might say there's policy that favors the status-quo, and obviously that's true as the status-quo is nothing to do with neutrality, it's to do with prevailing power dynamics. All there is, is a consortium of interests that moves to acrue power, as power abhores vaccums. As they say.