The Fed has the responsibility of stabilizing prices and maximizing employment. Powell has held its benchmark rate for overnight loans constant this year, saying that Fed officials needed to see what impact Trump’s massive tariffs had on inflation.
Man, I’m starting to think that this guy really sucks.
The slow coup continues.
Slow clap for the slow coup. Best way to catch a herd of wild hogs? Put up the pen slowly. Keep on throwing the feed into the middle of the area. Gradually the horde will be feeding. Then, all that’s left is closing the gate. Our illusion of freedom & privacy is being waylaid.
“Anyways Mrs. Lincoln, other than that, how did you enjoy the play?” -Former usher at The Ford Theater
Time to stockpile basic goods, lads.
If you run out of food, steal it from the rich.
What Happened When Hitler Took On Germany’s Central Banker.
“Hans Luther was the principled and respected president of the Reichsbank—but he wouldn’t accede to Hitler’s demands.”
I’ll let you guess how that worked out.
An historic parabola in real time and becoming more bona fide each passing week.
Translation:
Powell won’t let me crash the bond market and cause hyperinflation (in comparison to foreign currencies, at the very least), and that makes me MAD!!!
Seriously, if Trump somehow gets his way and rates end up being cut down to 0-1%, the US will basically immediately see a whole bunch of failed bond auctions, and then the only ‘solution’ is hyperinflation.
Exactly. The only people lowered rates helps is the rich. When you lower rates, spending increases which is the main cause of inflation.
Fuck me I’m almost out of here then I’m getting a foreign bank and transferring everything. At least if Sweden’s money tanks I can tank with my neighbors instead of watching the USD and my life savings evaporate disproportionately to where I’ll be living
I left, but I still have a fair amount invested in the US because I don’t know how to get it out
lol, may I only half jokingly suggest money laundering via purchases and sales of artwork through a non profit?
Seems to be effectively legal, though a bit riskier in terms of bang for your buck these days.
Wish I could go with you.
What idiot nominated this guy, anyway?
Earl and the good Ole boys.
The Federal Open Market Committee has 12 members. Jerome Powell has one vote; the board of governors have 7 votes. Jerome Powell announces and explains the decisions of the committee to the public, but it is insane to imagine that he is making those decisions alone without the backing of a majority of the committee.
Quiet. Don’t tell them. Powell will be okay if he takes the fall. The rest of us might not be, because if he picks off one, he can pick off more.
Congress needs to take full control of the country from trump.
Sure, the republiQan party is renowned for standing up to trump
Not to mention they have no ability to work together without a centralized dick to suck.
If he gets his way, we will have out of control inflation and other countries will start dumping our bonds as fast as they can. This could honestly be how the country collapses.
Good.
Let it
You’re on lemmy.ca, I’m guessing Canada? You won’t be unharmed from that collapse.
Who will be?
Even so, it’s not like it won’t happen, might as well be now. It’ll be a rough few years but things will at least be able to get better again
If I ever have to hear that name trump once again it would be too many
America is the biggest economy in the world by a long shot. Everyone well feel it if their economy collapses.
It would certainly be global chaos.
People who haven’t been bludgeoned to death by finance professors don’t comprehend the magnitude of it.
2008 was a good outcome compared to what would have happened if all the accounts were able to settle. If the US defaults, the entire global financial system crashes, probably irreperably. Honestly it would take less to make it happen (as those who were paying attention in 2008 know) but a US default would definitely trigger it.
Unfortunately it’s all a house of cards anyway… We might have been better off with the Castrophe happening in 2008 then now, politics would definitely have played out differently…
Good.
Let it
(American here)
I honestly have nothing to lose anyway
But they will be beneficiaries of what arises out the ashes.
Glad it’s yous and not us. GL
I guess he saw the employment numbers.
Where’s the list Donald?
This is a great question, but a better question would be how many kids did you rape Donald?
Can he count that high?
JPow wasn’t Jeffrey Epstein’s best friend.
Does the Federal Reserve hold the Epstein files?
Dumb orange cunt is going to get his ass beat by the markets. There will be buying opportunities.
buying opportunities
For whom?
Gambling addicts.
Dude, the guys term is up early next year… Can’t just wait 8 months?
The neat part is that it doesn’t really matter who they put in place. Powell is likely the most qualified person to navigate through the tariff shitstorm, but anyone else with two brain cells to rub together would be taking the same actions.
They need to find someone with zero brain cells that is willing to intentionally tank the economy to appease the mad king. Self inflicted hyperinflation seems to be the goal.
Kakistocractic
They need to find someone with zero brain cells that is willing to intentionally tank the economy to appease the mad king.
At least Eric will finally have a use
Damn you. Now I have fluids on my shirt. Have an upvote.
He just needs someone to blame for the really shitty job he’s doing.
Agreed, the Epstein files that have trump’s name in them are not in the news.
