Should the POTUS interfere with FOMC's decision?

[TheDawn]

What? Like this is anything new? Is that why he acted like he knew more about Corona virus than Fauci and gave daily briefings himself?

Yeah that was not something that I agree with either. I like the fact that he's hands-on instead of the Dem's infinite political bickering and not doing anything concrete but this is too much, too hands-on. If this is something that can be realized by an ordinary nobody like me, I am sure somebody on his campaign team or JD Vance who came from a financial background would've told him about the importance of the independence of the Fed?

I dunno why he would still insist on interfering? He already knew from his last term that interfering with the Feds does not work out well for him.

 

[TheDawn]

If you are being honest, the track record of "those who know how to do their job" is abysmal. Greenspan later admitted he messed up by cutting rates which caused the 2000 bubble.

This is the same central bank that said inflation was "transitory" several years ago.

Maybe POTUS ordering the central bank around is not the solution either, but neither is the status quo.

Yeah but don't forget Feds decision cannot be judged on the spot; it can only be looked at from hindsight. Hindsight is always 20/20. You can say now Greenspan's decision caused overshooting of the economy but if he hadn't dropped the rate that much, there might have been a recession. You never know. But all that doesn't matter. What matters here is that Feds needs to be independent and free of interference from anybody. You cannot micromanage the Feds!! If you don't like the job he/she is doing, you replace him/her but while he/she is on the job, you let him/her do the job!!

 

[zdreg]

If you are being honest, the track record of "those who know how to do their job" is abysmal. Greenspan later admitted he messed up by cutting rates which caused the 2000 bubble.

This is the same central bank that said inflation was "transitory" several years ago.

Maybe POTUS ordering the central bank around is not the solution either, but neither is the status quo.

"Maybe POTUS ordering the central bank around is not the solution either, but neither is the status quo."
Milton Friedman, the conservative, economics noble price winner gave the solution decades ago. The Fed should let the money supply grow at a steady 2per cent per year to account for increases in productivity and to keep inflation minimal. The Fed policy of being data driven is complete nonsense. It is gigo ( garbage in garbage out) and is subject to political pressure from a spendthrift congress. Presidents of the US are ignorant of basic economics and should not attempt to influence rates. The result has been been and will always be to accentuate booms followed by the inevitable busts.

 

[wxytrader]

Oh c'mon, I was just being cute. BTW did you even read about how Trudeau and his loonies have been governing up north? Yeah, how cute.

I don't know your government was waffling over the covid payments and they ended up giving out what 300 bucks or something stupid.... We were getting like $1,500 a month the whole time and our rent was forgiven... Mortgage payment stayed.

 

[wxytrader]

Which is great because pure democracy is stupid. Crack a history book.

I'm glad I live in a constitutional republic with limits on government power.

It's the best system that has ever existed in the history of the world.

Then quit toting the us as the land of the free because they're ranked number 17 on the freedom scale.

 

[schizo]

I don't know your government was waffling over the covid payments and they ended up giving out what 300 bucks or something stupid.... We were getting like $1,500 a month the whole time and our rent was forgiven... Mortgage payment stayed.

Exactly my point.

 

[schizo]

Then quit toting the us as the land of the free because they're ranked number 17 on the freedom scale.

At least, we love our truckers.

 

[NoahA]

yes. And he tried to do the same a few weeks ago.

all to goose the stock market during his presidency and tank it during bidens.

But what's worse, that, or letting in millions of immigrants and granting them voting rights because you know you might not win based on the current population? So you destroy entire communities and job prospects just so that you can win an election?

This is a race to the bottom to see which party can play dirtier.

 

[schizo]

But what's worse, that, or letting in millions of immigrants and granting them voting rights because you know you might not win based on the current population? So you destroy entire communities and job prospects just so that you can win an election?

This is a race to the bottom to see which party can play dirtier.

 

[newwurldmn]

But what's worse, that, or letting in millions of immigrants and granting them voting rights because you know you might not win based on the current population? So you destroy entire communities and job prospects just so that you can win an election?

This is a race to the bottom to see which party can play dirtier.

Whataboutism.

messing with fed is worse. Immigration is good. My parents came here. I could never have done what they had to overcome and what they gave up.

You should be asking why immigrants don’t vote Republican. Most immigrants come here for a better life and the American dream. Most immigrants work very hard. They epitomize old school Republican values.