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  • Trump and the Federal Reserve

    Posted by btomba_77 on March 14, 2020 at 11:16 am

    Trump back to complaining and looking to deflect blame again …
     
    [link=https://www.cnbc.com/2020/03/14/trump-says-he-has-the-right-to-remove-powell-as-fed-chair-but-hasnt-made-any-decisions-yet.html]https://www.cnbc.com/2020/03/14/trump-says-he-has-the-right-to-remove-powell-as-fed-chair-but-hasnt-made-any-decisions-yet.html[/link]
    [h1]Trump says he has the right to remove Powell as Fed chair but hasnt made any decisions yet[/h1]

    Im not happy with the Fed because I think theyre following not leading, and we should be leading, the president said during a news conference to discuss the COVID-19 outbreak and the ongoing U.S. response.

    Since the diseases spread has intensified, the U.S. central bank has enacted an emergency interest rate of 50 basis points, opened up a liquidity program to the bank to add up to $1.5 trillion to the financial system and started buying government debt across the yield curve.

    Trump said he is not yet looking at removing Jerome Powell as chairman, though he believes he has the right to do so. He has harshly criticized Powell previously, saying the Fed should be more aggressive in easing the stance of monetary policy.

    I have the right to remove him. No, Im not doing that, Trump said. I also have the right to put him in a regular position and put someone else in charge, and I havent made any decisions on that.
    [/QUOTE]

    Powell has previously stated he would not leave if Trump tried to fire him.
     

    btomba_77 replied 2 years, 8 months ago 5 Members · 9 Replies
  • 9 Replies
  • Unknown Member

    Deleted User
    March 14, 2020 at 1:19 pm

    Oh thank God, another thread for the circle jerk Trump-deranged trio to sound off on.   

    • btomba_77

      Member
      March 14, 2020 at 1:36 pm

      Great input…. really advances the discussion!
       
       
      (If he would stop doing and saying stupid sh*t maybe we wouldn’t need new threads.
       
      “I hereby resign the office of the presidency” would get it done too 😉 )

      • kayla.meyer_144

        Member
        March 14, 2020 at 1:39 pm

        Quote from dergon

        “I hereby resign the office of the presidency” would get it done too 😉 )

        That would be TRump’s 1st competent decision ever in his lifetime. Ergo, it won’t happen.

        • katiemckee84_223

          Member
          March 15, 2020 at 6:23 am

          I’ve brought up many Federal Reserve questions here, but instead of making another circle jerk thread, why not make this one a positive one and discuss WHAT the Fed will do, and what it legally can do, apart from a new Federal Reserve Act?
           
          We try to advance the discussion weekly, but most of you make these threads and repeat wonderful “advancements” like “I hereby resign”
           
          I’m looking at you, dergs — jeez, pot, kettle, blah

          • kaldridgewv2211

            Member
            March 15, 2020 at 6:55 am

            He cant remove a fed chair anyway. The fed chair doesnt serve the president. He can a point them. Id guess the current fed chair could also not serve consecutive terms.

            • kayla.meyer_144

              Member
              March 15, 2020 at 7:00 am

              Maybe. I think “for cause.”
               
              Regardless I cannot see the market taking this as a good thing for stabilizing the markets. Likely the markets would go into another free fall as another set of adult hands are pried loose by the man-child president who worried about his appearance above all else.

              • kaldridgewv2211

                Member
                March 15, 2020 at 7:21 am

                Not sure why he thinks the Fed can do something about his incompetence. Watching the Gov of Michigannon TV. All the people are flooding back into Ohare and the Federal government didnt up the staff for customs etc… so the airports are packed like sardines.

                • btomba_77

                  Member
                  August 22, 2021 at 12:41 pm

                  [b]Yellen Backs Powell for Another Term as Fed Chair[/b][/h1]  
                   
                  Treasury Secretary Janet Yellen has told senior White House advisers that she supports reappointing Jerome Powell as Federal Reserve chair, [link=https://www.bloomberg.com/news/articles/2021-08-21/yellen-said-to-back-jerome-powell-reappointment-for-fed-chair]Bloomberg[/link] reports.

                   

                  • btomba_77

                    Member
                    November 22, 2021 at 7:30 am

                    Biden will renominate Powell and elevate Lael Brainard to vice chair

                    [link=https://www.washingtonpost.com/us-policy/2021/11/22/powell-fed-chair-brainard-biden/]https://www.washingtonpost.com/us-po…rainard-biden/[/link]
                     
                     
                    I was kind of rooting for Brainard from a regulatory standpoint. But I’m fine with Powell