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Trump Should Keep Powell in Place - The Fed is the Only Thing Working in the Biden Admin.
Posted on 11/8/24 at 7:44 am
Posted on 11/8/24 at 7:44 am
Trump appointed Powell as Fed chairman in 2018 after a meticulous search for someone to shepherd America’s glowing economy
Trump initially disagreed with his rate increases to combat inflation, but Biden left him in place to help ease the dwindling economy.
After peaking around 12% in 2022 (some analysts believe actual inflation may have been much higher), Powell and the Fed have carefully navigated fiscal policy. The economy is now set to reach the target goal of 2% inflation, perhaps before Trump begins his term.
Jerome Powell (a Trump appointee mind you,) should be commended for saving the economy from ruin and Trump should keep him in place.
A new chairman would be overall very unpopular in my opinion.
Trump initially disagreed with his rate increases to combat inflation, but Biden left him in place to help ease the dwindling economy.
After peaking around 12% in 2022 (some analysts believe actual inflation may have been much higher), Powell and the Fed have carefully navigated fiscal policy. The economy is now set to reach the target goal of 2% inflation, perhaps before Trump begins his term.
Jerome Powell (a Trump appointee mind you,) should be commended for saving the economy from ruin and Trump should keep him in place.
A new chairman would be overall very unpopular in my opinion.
11
Posted on 11/8/24 at 7:45 am to RFK
The FED trying for a soft landing will be shown to be a horrible failure. That is on Powell.
Posted on 11/8/24 at 7:46 am to RFK
quote:
Trump Should Keep Powell in Place
Posted on 11/8/24 at 7:46 am to stout
What do you attribute the reduction in inflation to?
Posted on 11/8/24 at 7:46 am to RFK
quote:
new chairman would be overall very unpopular in my opinion.
What was your opinion about who would win this election?
Has Trump mentioned firing Powell or something. I missed that if so.
Or is this just the left ginning up controversy as usual?
Posted on 11/8/24 at 7:46 am to stout
quote:How so?
The FED trying for a soft landing will be shown to be a horrible failure.
Posted on 11/8/24 at 7:47 am to RFK
quote:
What do you attribute the reduction in inflation to?
Yeah we are not going up 22% anymore
What a victory
Posted on 11/8/24 at 7:48 am to RFK
JPow is cutting rates to try to get better terms on federal debt. Meanwhile the federal government is well over deficit projections this year (est: $1.8T, current actual: somewhere over $2T). Trying to make money cheaper to borrow while the federal government is essentially creating money is not going to make a "soft landing", especially with a recession in the near-ish future (which may end up become stagflation).
Posted on 11/8/24 at 7:51 am to RFK
I’ve seen a lot of talk about abolishing the fed and moving it back under the executive branch. (Elon, Ron Paul and several others who I highly respect agree with this strategy).
Question for some of the gurus on here as I need some education. Why would this be good? I would think putting a president in charge (who could be much more concerned with re-election, or partisanship) should not be in charge of monetary policy.
Furthermore, the fed has been in place since 1913 (basically in place through America’s golden years as an economic powerhouse.) it seems to me that the problem isn’t the fed but the government’s wreckless spending.
Question for some of the gurus on here as I need some education. Why would this be good? I would think putting a president in charge (who could be much more concerned with re-election, or partisanship) should not be in charge of monetary policy.
Furthermore, the fed has been in place since 1913 (basically in place through America’s golden years as an economic powerhouse.) it seems to me that the problem isn’t the fed but the government’s wreckless spending.
Posted on 11/8/24 at 7:53 am to RFK
You mean the slowing of explosive growth in inflation?
Posted on 11/8/24 at 7:53 am to aujerm
quote:
I would think putting a president in charge (who could be much more concerned with re-election, or partisanship) should not be in charge of monetary policy.
Posted on 11/8/24 at 7:54 am to RFK
quote:
What do you attribute the reduction in inflation to?
Something going a little down after going way up is not impressive
Posted on 11/8/24 at 7:56 am to RFK
Trump should demand he stay as chairman of the fed and then use him as a political punching bag for 4 years!
It would be glorious!
It would be glorious!
Posted on 11/8/24 at 8:01 am to RFK
frick that. The Fed will try to sabotage Trump's Presidency. He alluded to it yesterday.
Posted on 11/8/24 at 8:03 am to RFK
quote:
The Fed is the Only Thing Working
Who wants to tell him?
Posted on 11/8/24 at 8:03 am to RFK
The FED absolutely did Not save the economy.
Posted on 11/8/24 at 8:03 am to RFK
So 2% on top of the 35% accumulated over the past 4 years is the solution.
Gotcha!!
Gotcha!!
Posted on 11/8/24 at 8:12 am to Timeoday
The Fed can only do so much to stop inflation. Until the government cuts way back on spending we will have to live with high interest rates, high inflation, a depressed economy or some combination of the 3. This is not a Federal reserve issue, its a federal government fiscal policy issue.
Posted on 11/8/24 at 8:48 am to RFK
My Holy God at the lunacy in the OP. Just unbelievable
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