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Holy shit. So our monetary policy will be just set at the arbitrary whims of the president if this new scheme works. Why does all of this feel like it's just sliding completely out of hand? Am I just being a doomer?
Thank you, Mr. Powell. We really want interest rates set to serve the people, not the whims of the President.
This is... just crazy. One of those mostly boring bits of plumbing that has been left to professionals throughout the entire 50 years of my life - and they're trying to wreck it.
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Earlier quoted context omitted.
It's also for very stupid reasons: The fed dropping rates to the degree that would satisfy Donald Trump would greatly accelerate inflation which in turn would further upset voters, who would in turn blame Donald Trump (just like they did Biden before).
Is it just a cynical view that enough voters can be convinced it's the other side at fault? Someone who supports trump, please let me know the logic on this. Genuinely. I'm trying to read other places about these charges but they're just so slanted that they're not really trustworthy. Is there anything to this, or is it really just to pressure the federal reserve?