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re: Trump advisors are considering plans to dramatically revamp the Fed, WSJ report says
Posted on 4/26/24 at 9:48 am to momentoftruth87
Posted on 4/26/24 at 9:48 am to momentoftruth87
quote:
Great the resident retard is back
No need to announce yourself like this, you already made this clear when you suggested the Federal Reserve is responsible for deficits.
1
Posted on 4/26/24 at 9:49 am to GumboPot
quote:
Biden has a Federal Reserve Chair making monetary policy decisions that help his administration.
Who appointed Jerome Powell? Answer: the same imbecile who appointed Christopher Wray, Mark Milley and a host of other idiots.
Posted on 4/26/24 at 9:50 am to Lou Pai
The the decisions the fed makes has no impact on the economy?
Posted on 4/26/24 at 9:52 am to ronricks
quote:
Who appointed Jerome Powell? Answer: the same imbecile who appointed Christopher Wray, Mark Milley and a host of other idiots.
Doesn't matter.
As long as the FR is there as the congressional sugar daddy since 1913 it matters not who occupies the WH. Your purchasing power will always decrease with unsound fiat FR money.
Posted on 4/26/24 at 9:52 am to Powerman
Stupid. 
Posted on 4/26/24 at 9:53 am to GumboPot
quote:
it is a known fact that Jerome Powell politically acted against Trump to help get Biden elected.
By lowering interest rates to near-zero?
Posted on 4/26/24 at 9:55 am to momentoftruth87
quote:
The the decisions the fed makes has no impact on the economy?
Of course they do. But why are you mentioning deficits and making yourself look like a fool, then calling others retards?
Posted on 4/26/24 at 9:55 am to momentoftruth87
Trump bots like this but a centrally planned economy does not work----
independent bank is important
Guy can't run a profitable casino/golf course
independent bank is important
Guy can't run a profitable casino/golf course
Posted on 4/26/24 at 9:56 am to momentoftruth87
quote:
So a govt agency should just do what it wants against the president’s plan?
Does this mean y’all will stop blaming Trump for the deficit if he shouldn’t have any responsibility tied to it?
If I were mentally retarded, these were the questions I would ask in response to the OP.
Posted on 4/26/24 at 9:59 am to Lou Pai
quote:
By lowering interest rates to near-zero?
Besides COVID the FR rose interest rates during Trump's term:
This post was edited on 4/26/24 at 10:02 am
Posted on 4/26/24 at 9:59 am to ronricks
quote:
No surprise since Trump is a big spending Liberal.
You see this as a "big spending Liberal" idea? Why haven't any other "big spending Liberals" proposed anything like this?
I'm not vouching for this (although, I'm not sure why anyone would be up in arms about someone spit-balling ideas to fix something that seems inherently problematic to anyone who cares to look at things objectively at all), but I'm not sure what about looking at something like this would be more appealing to a "big spending Liberal" than the current status quo - which seems to be appeasing them perfectly peachily.
Posted on 4/26/24 at 10:00 am to Lou Pai
quote:
By lowering interest rates to near-zero?
No kidding. If anything, he helped Trump and hurt Biden
If Trump could pull the strings in a lame duck second term we would be back to near zero interest rates again, so he could claim short term gains for his legacy while making long term inflation worse.
Posted on 4/26/24 at 10:03 am to Powerman
quote:quote:
By lowering interest rates to near-zero?
No kidding. If anything, he helped Trump and hurt Biden
He raised interest rates the first 3 years of Trump's term. He dropped them to near zero for COVID. Kept them near zero as long as possible for Biden.
This post was edited on 4/26/24 at 10:05 am
Posted on 4/26/24 at 10:04 am to GumboPot
quote:
Besides COVID the FR rose interest rates during Trump's term:
Very gradually to much more normal levels, as the economy was doing well in his term before COVID and we were leaving the era of Obama's stagnation.
Posted on 4/26/24 at 10:10 am to Lou Pai
quote:
It's not a government agency and monetary policy does not fall under the purview of the president
If it's not a government agency, then it should not have (and it's unconstitutional for it to have) governmental powers.
If it is a government agency, then it must be under the control of the President.
It is, of course, a government agency, given that it was created by Congress, empowered by Congress, serves as the bank for the U.S., distributes the U.S.'s currency, sets interest rates, and imposes regulations on private banks. Anything that acts as a regulator and has regulatory powers is a government entity.
Posted on 4/26/24 at 10:10 am to Lou Pai
quote:
Very gradually to much more normal levels, as the economy was doing well in his term before COVID and we were leaving the era of Obama's stagnation.
It was doing well because of Trump's energy policy. A lot of critics dismiss easy energy policy but easy energy policy has profound positive economic impacts. When energy costs are low it's cheaper to HVAC your building, it's cheaper to deliver goods, it's cheaper to manufacture goods, it's cheaper to take that road trip, it's cheaper to buy airline tickets, etc., etc.
Trump wanted to juice the economy further. It was only growing 2-4%. And while the economy was growing the FR was winding down assets on their balance sheet they accumulated from the 2008 financial crisis.
Then, boom...COVID and that fricked up everything.
Posted on 4/26/24 at 10:14 am to GumboPot
Fed lowered rates all throughout 2019 well before Covid.....
Posted on 4/26/24 at 10:15 am to GumboPot
Double post
This post was edited on 4/26/24 at 10:15 am
Posted on 4/26/24 at 10:18 am to Tmcgin
quote:
Trump bots like this but a centrally planned economy does not work-
I will agree with you for once. Trumpkins need to learn this.
Posted on 4/26/24 at 10:19 am to GumboPot
quote:
It was doing well because of Trump's energy policy. A lot of critics dismiss easy energy policy but easy energy policy has profound positive economic impacts. When energy costs are low it's cheaper to HVAC your building, it's cheaper to deliver goods, it's cheaper to manufacture goods, it's cheaper to take that road trip, it's cheaper to buy airline tickets, etc., etc.
I don't get this. We don't have a nationalized energy industry. Energy became very cheap during his administration due to lucky timing and technological advances in the industry that were already well underway (in spite of Obama).
Trump's economy was driven by tax rate cuts and broader de-regulation. The rest of the world was also doing well in this period ("synchronized growth").
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