The New Coffee Room

If they think it’s unconstitutional they could always challenge it.

Treasury Secretary Scott Bessent reportedly informed Trump on Sunday that the investigation “made a mess” and risked destabilizing financial markets.
A source told Axios, “The secretary isn’t happy, and he let the president know.”
Former economic government officials—including three former Federal Reserve chairs, four former treasury secretaries, and former Republican Sen. Phil Gramm of Texas—signed a statement describing the reported criminal investigation into Powell as an “unprecedented attempt to use prosecutorial attacks to undermine [the Federal Reserve’s] independence.”

Unless it’s a dude in drag then it’s 10 crazy 0 hot.

@Horace said in ICE kills a US citizen in Minneapolis:

Body cams have in fact exonerated police far more than they have implicated them. Exactly the opposite of the expectations of those who think like this.

I doubt you could know that since your sample set is limited to white cop/black perp/viral video scenarios.

Who knew that FDR basically sketched out I-80, I-90, I-10 and I-95.

Damn good post.

Next up: "Work will set you free"

Is it more charitable to assume they’re purposely aping Nazi slogans or that Nazi slogans just occur to them independently?

wtf?

said in The Venezuelan Oil Thread:

Darren Woods, who leads the largest U.S. oil company, Exxon Mobil, was especially blunt during a televised portion of the meeting.

“We’ve had our assets seized there twice, and so you can imagine to re-enter a third time would require some pretty significant changes,” he said. “Today it’s uninvestable.”

I only just yesterday finished Chernow’s Mark Twain. While I liked the book and was never really tempted to put it down, it was definitely an endurance test. 1200 pages. I listened and the narration was 44 hours. I think they would do well to create an abridged version.

Still a fascinating man and a fascinating life.

@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.

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.