https://www.zerohedge.com/news/2018-10-17/chairman-powell-youre-fired
Greedy, short-sighted play on Trump's part. Not liking him on this.
Greedy, short-sighted play on Trump's part. Not liking him on this.
Chairman Powell - You're Fired!
- Thread starter Scataphagos
- Start date
https://www.zerohedge.com/news/2018-10-17/chairman-powell-youre-fired
Greedy, short-sighted play on Trump's part. Not liking him on this.
Especially from the guy who claimed the whole stock market was one big bubble propped up by the Fed. Now, when its the market under his administration, he wants the Fed to prop it up.
Come on, fair is fair.
Fair is fair? What does this even mean in regards to this topic?
The Fed pumped up the economy for Obama and allowed him to run up more debt than all other presidents combine by virtue of the zero interest rate policy.
Now they are raising rates against the advice of many experts who feel there is little inflation and the economy is clearly cresting. The obvious risk is they repeat the policy mistake that Bernanke made by raising rates too quickly and too far and they end up tanking the economy. Just in time for the 2020 elections.
I understand that the Fed and its staff claim to be non-partisan, but they have a record of creating recessions that hurt republican candidates. They did it with Bush Sr, they did it with McCain and they seem to be doing it again. By contrast, they kept rates nice and low for Obama's reelection and for Hillary to follow him. Maybe it's just a coincidence but if they expect to be independent, they have to do a better job of not creating conditions that influence voters, one way or the other.
Trump reportedly wants to fire the Fed chair, a move that could wreak havoc on the financial markets
https://www.cnbc.com/2018/12/22/trump-reportedly-wants-to-fire-fed-chair-powell.html
Trump asking advisers if he can legally fire Fed chief
https://www.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html
https://www.cnbc.com/2018/12/22/trump-reportedly-wants-to-fire-fed-chair-powell.html
Trump asking advisers if he can legally fire Fed chief
https://www.cnn.com/2018/12/22/politics/trump-jerome-powell-fire-interest-rate-hike/index.html
One of my main criticisms of Trump was his lack of financial discipline in his own business dealings and expected that to spill over. Well it has and the amount of debt that Trump is adding is an embarrassment.
You make it seem like artificially suppressing rates is a good thing. Who are you now, Piezoe?
I'm not saying the Fed isn't partisan. They certainly have been known to be. But their actions are not sustainable - have never been. Eventually, someone is going to be left with the hot potato, and it looks like that is going to be Trump.
If Trump had a brain, he'd never have taken credit for the stock market in the first place. He was right when he called it a "big, fat bubble" and then wrong when he flip flopped to taking credit for it. Live by the sword, die by the sword.
Last edited:
1.... look at this historical chart. so many times after a serious of rate hikes we went into recessions. What the hell. Why do we need the FED to create recession.
Why should the FED be targeting wages?
https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135
Raising rates frequently leads to an event like a recession.
2. Do we really need the FED intervening so much?
The bond market works to counter inflation.
Oil prices work to counter an expanding economy
The economy works to counter inflation.
In fact if the FED were not creating trillions of dollars we probably would not need their intervention very often at all. As the world economy expands... the demand for the dollar grows and our dollar would get stronger in absence of FED printing for their members accounts.
If the FED were not creating trillions there would be no systematic inflation at all... (as far as I can tell) because our govt borrows the money they use.
So rather than be on this road to an event.. lets try something new. Neutral Fed in the markets.
No printing trillions. No Selling assets. No raising rates.
Why should the FED be targeting wages?
https://www.thebalance.com/fed-funds-rate-history-highs-lows-3306135
Raising rates frequently leads to an event like a recession.
2. Do we really need the FED intervening so much?
The bond market works to counter inflation.
Oil prices work to counter an expanding economy
The economy works to counter inflation.
In fact if the FED were not creating trillions of dollars we probably would not need their intervention very often at all. As the world economy expands... the demand for the dollar grows and our dollar would get stronger in absence of FED printing for their members accounts.
If the FED were not creating trillions there would be no systematic inflation at all... (as far as I can tell) because our govt borrows the money they use.
So rather than be on this road to an event.. lets try something new. Neutral Fed in the markets.
No printing trillions. No Selling assets. No raising rates.
Last edited: