Powell speaks truth to power
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He missed a great opportunity to close with 'Thank you for your attention to this matter".
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He'll probably fire him really close to his retirement date so contesting it is pointless.
By the way my sister works for the Fed board of governors and intends to retire when he leaves.
@jon-nyc said in Powell speaks truth to power:
He'll probably fire him really close to his retirement date so contesting it is pointless.
I recalling reading or hearing from some source(s) last year that the POTUS does not have the authority to fire the Head of the Reserve or any of the Board members.
What would be the ramifications of WH political control over the FR in terms of banking and the US$? Do you think it would trigger a global sell off?
Elbows up!
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The alternative would have done nothing of any consequence.
That said, if the Dems take house and senate in the midterms this might well be grounds for impeachment. I would not oppose it. he's gone too too far.
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The alternative would have done nothing of any consequence.
That said, if the Dems take house and senate in the midterms this might well be grounds for impeachment. I would not oppose it. he's gone too too far.
@Mik said in Powell speaks truth to power:
The alternative would have done nothing of any consequence.
Wouldn't be the first time "doing nothing of consequence" is preferable to "doing great harm."
It wasn't that long ago that Conservatives believed in "the best government is that which governs least."
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Trump is addressing a lot of issues that have lingered for a long time, more and faster than any president in my lifetime. One can reasonably argue that he has overstepped his bounds in several instances, but he learned from his first term what a short time you actually have to get anything done. Like it or not he has a vision for where the nation should go and is pursuing that. I will gladly take that over the alternative who likely had no idea what she would have wanted to do or how to get it done.
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I feel like in the past, screwing with the independence of the Fed would immediately cause a massive stock or dollar crash, but what do I know (not being sarcastic). We know the market is important to Trump, I think this is just one step towards a Trump-influenced Fed that'll likely inflate the economy by 2028 so that "Trump" (brand) can win again, only to eventually have a massive correction once folks realize it's inflated with Trump Air (TM).
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@jon-nyc said in Powell speaks truth to power:
He'll probably fire him really close to his retirement date so contesting it is pointless.
I recalling reading or hearing from some source(s) last year that the POTUS does not have the authority to fire the Head of the Reserve or any of the Board members.
What would be the ramifications of WH political control over the FR in terms of banking and the US$? Do you think it would trigger a global sell off?
@Renauda said in Powell speaks truth to power:
@jon-nyc said in Powell speaks truth to power:
He'll probably fire him really close to his retirement date so contesting it is pointless.
I recalling reading or hearing from some source(s) last year that the POTUS does not have the authority to fire the Head of the Reserve or any of the Board members.
What would be the ramifications of WH political control over the FR in terms of banking and the US$? Do you think it would trigger a global sell off?
I think if he tried to fire Powell just a month or two before his term ends the reaction would be negative but muted, knowing it’s subject to court review. I think of the court ok’d it it would be a different story.
