“The law is clear that I have a four-year term,” Powell said on CBS’s 60 Minutes, in an interview that aired Sunday night. “And I fully intend to serve it.”
Pressed on whether Trump has the authority to fire him, Powell said, “no.”
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Arrogant dickhead.
The dirty little secret is that if the Fed were to let interest rates rise as high as 6%—by historical standards a very “normal” interest rate—the obligation to pay interest on our massive federal debt would require either massive cuts to entitlement programs, generating civil unrest and a likely depression, or hyperinflation. So they are going to try to keep interest rates no higher than they are now for as long as they can.
The eCONomy is based on CONfidence. When something happens to shake that confidence—as it inevitably will—and interest rates rise despite the Fed’s efforts to prevent it, all hell is going to break loose in this country. And then, folks will finally understand why racking up a massive federal deficit was and is a very, very stupid idea.
But honest.
Just on dick head he should be fired arrogant a##hat