Stock futures slip as Trump escalates attack on Fed independence: Live updates

cnbc ^ | Sean Conlon, Sarah Min, Christina Cheddar Berk

[from occupied ga]

U.S. stock futures were lower Tuesday, adding to a slide in the major averages to start the week, after President Donald Trump removed Federal Reserve Governor Lisa Cook from the board of the central bank.

...

Trump’s unprecedented move adds to the pressure the president has been putting on the central bank’s independence. By law, a president may only remove Fed governor “for cause.” As a result, it is possible the matter will be challenged in the courts.

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TOPICS: Constitution/Conservatism; Culture/Society; Government
KEYWORDS: akata; akatafraud; blackfraudmatters; blackliesmatter; buhbye; christinacheddarberk; concerntrolling; constitution; fakenews; fedboard; federalreserve; fedgovakata; lisacook; lisacrook; nevertrumpkywrdtroll; sarahmin; seanconlon; wellbye

[from occupied ga]

There is NO independent agency of government. The constitution is very clear there are three branches of government (for any Democrat reading this they are):

1. Executive
2. legislative
3. judicial

Since the fed board is not in the judiciary or the legislative branch BY DEFINITION IT IS PART OF THE EXECUTIVE BRANCH. Trump is the head of the executive branch. He can run the executive branch as he deems best for the country. This may go to court, but constitutionally the so-called law that supposedly prevents firing except for cause is probably unconstitutional.

[volare737]

Good post. I agree. But I would bet the house here, that some Fed judge, somewhere, someplace, will stop the firing.

Where do THEY get that power?

[reed13k]

The headline makes it out as much more than what the market is really doing. As of now 10 minutes in...Dow basically flat -0.02%, S&P500 slightly down at -0.43%, and Nasdaq flat but up +0.04%....

The market doesn’t care about this

[ridesthemiles]

HOW MANY OTHERS WITH HIGH POSITIONS HAVE DONE SIMILAR MORTGAGE FRAUDS>>>>>?

[from occupied ga]

I agree. Some Biden or Turd appointed judge will black it and it will crawl up the ladder to the supremes.

[from occupied ga]

Probably quite a few. Mortgage fraud seems rather fashionable in the apparatchik class.

[volare737]

True, I am sure lots of them. Then how STUPID were those that answered that question honestly?

[Carry_Okie]

The market doesn’t care about this

At this point the attribution is pure spin.

[from occupied ga]

A good way to see where the overall market is going is to look at the price of SPY which is a S&P aster ETF. I looked and as of a couple of minutes ago it was down 0.08%

[from occupied ga]

aster=based. $*^%#* autocorrect

[SteveH]

Preemptive reparations for privileged citizen administrators of a certain “stripe”?

[faucetman]

“U.S. stock futures were lower Tuesday, adding to a slide in the major averages to start the week,”

Didn’t I just hear, in the past few days, about a RECORD HIGH close?

[from occupied ga]

Yes you did - Aug 22. Record high for major averages.

[iamgalt]

It took 3 little rats to write this BS. CNBC is a dem propaganda operation masquerading as a financial new network

[Diogenesis]

[wny]

the Fed is not a government agency. It’s a private bank cartel.

[C210N]

Similar with the BIS.

The BIS is like a FED on steroids.

Jerome Powell has powers on both BED and BIS.

[phil00071]

CNBC is a mouthpiece for the Democrats, with non-stop Trump bashing, and hoping for a recession.

[from occupied ga]

The fed was created by an act of Congress in 1913. Quote from Wikipedia

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."

”it considers itself” would seem to be the key along with “an instrument of the US government “ to bolster the argument it IS part of the government

[from occupied ga]

DEI and affirmative action all rolled into one.