Posted on 12/22/2018 4:15:01 AM PST by Libloather
President Trump has discussed firing Federal Reserve chairman Jerome Powell after the central bank announced this week that it would raise interest rates, Bloomberg reports.
**SNIP**
Powell publicly pushed back against the president earlier this month after Trump tweeted urging the Fed to resist raising interest rates, citing a stock market selloff.
“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.
Trump previously said in October that he would "maybe" regret selecting Powell to succeed the Federal Reserve's previous chairwoman, Janet Yellen, who resigned in November 2017.
(Excerpt) Read more at thehill.com ...
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.
Do you remember how they had an online portal for MAGA job applications after Trump won?
The claim is that somehow the applications of all those respondents were “lost”. And still on the job is Priebus/RNC swamp creature Johny DeStefano, who has supposedly successfully filtered any true MAGA believers out of their hiring from his position as the head of WH staffing.
Yellen was neither great nor horrible, but there were more than two options out there.
“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.
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?
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He’s working for crooked politicians and the other elites.
To them, the easing was the recovery. A real recovery without their help doesn’t count.
Powell is seemingly out to destroy the “Trump economy.” Dump him and give Steve Forbes a call. There are others out there as well.
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Actually, a few of the Fed governors seem to be on Trump’s side going by some of their previous speeches.
Does Prez Trump still have problems picking personnel or are the candidates just lying to him? Can’t figure this out.
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It’s not easy being an outsider who has publicly declared war on the Swamp.
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.
I’m with you. Jared and Ivanka should’ve been sent back to NYC long ago.
Anytime I see the word “report” it somehow translates in my mind as “propaganda.”
He’s appointed three of the five current board members with two vacancies yet to be filled.
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Aren’t there 12 voting members of the FOMC?
https://en.wikipedia.org/wiki/Federal_Open_Market_Committee
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.”
Seven members of the Board of Governors. The President of the New York Fed. And the presidents of four other Federal Reserve Banks on a rotating basis. Only the members of the Board of Governors are presidential appointees.
The prime rate was 3.25% from Jan 2009 through Dec 2015.
That’s nearly 83 months of at or near zero interest rates for Obama and look what he did with it.
Do interest rates need to go up? I suppose, but the question to be asked is why? The standard answer is to raise them to throttle the economy. Why...to slow it to prevent it from becoming overheated leading to a recession.
Is the economy overheating?
I don’t think so.
We need to be able to retire some of the debt incurred by the Obama regime. The country needs to recover and then we can raise interest rates. Let them rebuild our manufacturing, let people invest in the future of America.
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.
There is no reason to slow down economic growth with higher interests rates. This is a political move to hurt Trump and the American people.
For 8 years the Fed propped up the 0bama regime to the time of $85 Billion a month. Now Trump has to repay that loan. WTF?
Right on the money. And they are untouchable by anyone in this country. This is a “foreign controlled” banking institution who have no loyalty to anyone or anything but power and control through debt. They are who actually run this country, everyone else including our government are just pawns to do their bidding. Until we end the Fed it will remain this way.
Actually our Grandchildren and Great Grandchildren will have to pay for it... We have already made it their debt and responsibility without choice. Seems a bit unfair right? It is... And we need to stop. We are indenturing our own future generations against their will.
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