The man makes buck. I’ll give him that.
Sounds good. He’s a finance expert by experience and by education
Thank you for posting this... Too bad no one understands this is >NOT< a good thing.
Anything that takes power away from the Federal Reserve bank should be a good thing.
I confess that I don’t understand what is being discussed here.
But the Treasury is an official Department of the US Government.
Blackrock is a publicly traded corporation.
The Federal Reserve is a private corporation, not publicly traded, and not part of the government.
There seems to be an implication that this is all being smooshed together to sort of be one thing. I think that goes beyond mere “apples and oranges”. I don’t get it.
Federal Reserve is not a branch of the US Government as many people assume.
“Although an instrument of the U.S. government, the Federal Reserve System considers itself “an independent central bank because its monetary policy decisions do not have to be approved by the president or by anyone else in the executive or legislative branches of government, it does not receive funding appropriated by Congress, and the terms of the members of the board of governors span multiple presidential and congressional terms.” —Wikipedia.
“Twelve regional Federal Reserve Banks, located in cities throughout the nation, regulate and oversee privately owned commercial banks.”
This process is not new under Trump and it does not tie the hands of the Federal Reserve to dictation from the President.
It is not a process that is active 24/7/365. It was last used in December 2020 during Covid. The process was created under law in the CARES act, which sets “economic crisis” terms for its use.
As usual, the writers make assumptions about a process without investigating for any ongoing application of a process, or how when used it actually worked.
Trump’s hero, Andrew Jackson nods his head.