This guy is a clown. 8 years of quantitative easing and we finally get a chance to recover and he shackles the economy. Who is he working for, the Chinese?
Powell is seemingly out to destroy the “Trump economy.” Dump him and give Steve Forbes a call. There are others out there as well.
Does Prez Trump still have problems picking personnel or are the candidates just lying to him? Can’t figure this out.
Powell is in on the soft coup it certainly would appear. With no apparent justification the Fed is pushing for a interest rate hike that would likely bring on a recession in order to make Trump look bad. Perhaps firing him would be a troubling thing for the Republicans and Trumps image but it might be a good idea anyway considering.
Trump is sending a warning to this chump!
Fire the stinking backstabber who remains
functionally ‘married’ to Obama-the-Impostor.
Aren’t the rate changes decided by a board of 10 governors who vote on it? Isn’t the chairman only one vote? What about the other 9?
“I know, and everyone who works at the Fed knows, that we’re going to do our jobs the way we’ve always done them,” Powell said
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I think I see the problem here.
Powell has a four year term. He can't fire Powell any more than he can fire a judge he appointed and whose rulings he disagrees with.
I’ve come to the lifelong conclusion that the Fed has ruined the American way of life and used their original printing concession to forge off-book actions for picking winners and losers across the spectrum from business to politics.
It’s not about ‘money supply’, it’s about power and control.
we are in uncharted territory - because we have never had to walk back such massive intervention of course we want to normalize over time. i think the combo of rate hikes and the realization that a Dem House won’t be a participant in any economic stimulus has brought forth the reality that growing will slow. in other words the hypergrowth areas of the stock market won’t be the leadership (and they were overowned) but rather more dependable steady eddie type companies (underowned). personally i think the market has had a tantrum which i hope stabilizes and reverses. 2-3% growth is to be expected UNLESS confidence in that falls (Dems talking economy down, lack of perspective of market action). buy fear; sell complacency. recession isn’t in the cards unless we talk ourselves into it by lowering confidence. that said, Powell advertised lower growth and lowered expected rate increases ahead, which they could change based on economic factors. maybe the Fed should have skipped this increase, but i doubt there will be a need for one in the near future. markets’ asset bubble has burst, oil is down. now let’s keep the economy moving ahead.
He could have retained the more dovish Janet Yellen. But since he feels the need to reverse anything Obama did, this is what he ends up with. Perhaps that instinct worked against him here.
“I know, and everyone who works at the Fed knows, that we’re going to do our jobs the way we’ve always done them,” Powell said at a press conference at the time.
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And that’s a problem since the Fed has cost us several trillions of dollars of wealth the past few decades.
I'm not atypical. I have a relatively modest retirement account that I'll have to start using to balance the budget. It would be about 25% higher now if interest rates were about 4%. People can't save if interest isn't paid on savings. And the budget makers in DC won't restrain spending if the path we've been on continues.
Anytime I see the word “report” it somehow translates in my mind as “propaganda.”
Jefferson’s views on debt was the critical point that Jackson followed. Debts passed on to children that they neither voted for nor approved of, are a blatant example of taxation without representation in the Jeffersonian view of life. When Jackson first ran for president in 1824, he denounced the debt as a “national curse.” He vowed to, “…pay the national debt, to prevent a monied aristocracy from growing up around our administration that must bend to its views, and ultimately destroy the liberty of our country.”
I’m not sure what all the fuss is about, wasn’t this latest increase widely anticipated on Wall St. and didn’t Powell indicate the Fed was slowing down its planned rate increases for 2019?
Frankly, higher rates are better for savers and a correction in equities is healthier for the markets in the long run.
Or just eliminate the Federal Reserve. Then you don’t have to worry about who is the chairman.
The Fed is why in my life time a dime is weaker than a penny was when I was a youth.
Fire them. Fire them all.