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Statement from Jerome Powell

federalreserve.gov

121–130 of 871 posts

Re: Statement from Jerome Powell

#121

As a side note, is there a compelling reason why interest rates aren't set algorithmically? I assume human intuition isn't really a factor in setting them. This would eliminate concerns about political motivation.

> is there a compelling reason why interest rates aren't set algorithmically?

Can’t believe you are saying that!! Then anyone can manipulate it like they manipulate stocks by writing hit pieces one day and gushing articles a few days after,

Re: Statement from Jerome Powell

#122
post #78

Earlier quoted context omitted.

[flagged]

This is an exceptionally poor take on the matter.

You had a comment to explain the poor take and instead do the equivalent of point and laugh. Can you help but wonder as onlookers question what your point might have been? People undoubtedly think this way, and to discount wholesale their line of thinking without engagement does not win hearts and minds.

Re: Statement from Jerome Powell

#123

Its crazy how you can see where things are heading and still be surprised when they arrive there.

Everyone calling it out was named a doomer. Well doom is here. Congrats.

Fundamentally, people don't like situations with no good answer. I see it again and again, present a problem with no good answer and most people will resort to the answer that aligns with their political leanings even when faced with clear evidence they are wrong.

Look how quickly big business rolled over for The Felon--because they saw what mot people have been denying since the election.

Re: Statement from Jerome Powell

#124

Earlier quoted context omitted.

I implore you to stop being credulous before it's too late. Trump supporters deeply believe, and are not shy about saying, that anyone who stops Trump from achieving his political goals should be imprisoned or murdered.

Holy shit. If you believe even a small minority actually want that, please unplug and talk to real people in meat space.

All of the Trump supporters I knew in meatspace reassured me that he would never do his insane tariffs, and then when he did insisted that it was a good idea and they never thought otherwise. So I no longer trust that they're telling me the truth about what they want or what they would support.

Re: Statement from Jerome Powell

#127
post #54

So I'm sitting here as a Canadian wondering what the American people are going to do? I understand a lot of what the President of The United States says - I even agree with some of it, the problem is I don't feel like we're engaging with the American people anymore. I really wonder where you guys are headed and what it means for the rest of us, I spent 15 years in the states, built a public company there, I really li…

Not doing much. Playing PC games and watching the world burn. Not much I can do.

Just bought a new 5080 this week. Hoping I can hunker down in my cave for the next couple years and see what's left of the world in 2030.

Oh yea, beer, lots of beer.

Re: Statement from Jerome Powell

#129
post #3

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.

It's also completely in character with Trump's behaviour. He is a dictator who wants what he wants and can't abide anyone standing in his way. He wants absolute authority to do as he wishes. This extends to removing foreign heads of state so he can access their countries resources and also threatening 'allies' so he can take their territory. We're watching him systematically destroy any good will or moral authority t…

He was the owner and CEO of a private company — essentially a dictator without even a board or the SEC keeping him in check.

For decades he hasn’t had to tolerate “checks and balances”! Nobody could say “no” and retain their jobs under him.

The American public decided to put this type of person in charge.

The consequences were predicted.

Re: Statement from Jerome Powell

#130

As a side note, is there a compelling reason why interest rates aren't set algorithmically? I assume human intuition isn't really a factor in setting them. This would eliminate concerns about political motivation.

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