Its crazy how you can see where things are heading and still be surprised when they arrive there.
Statement from Jerome Powell
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Re: Statement from Jerome Powell
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#35Earlier quoted context omitted.
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Jerome Powell is not a Democrat.
And it's pitiful that he has to be a Republican for people to credit him with sincerity. I think as much as partisanship itself, poisoning discourse by labeling appeals to evidence or procedural integrity as "partisan" proves too much and gets rid of objective reality entirely, creating space for bad faith actors.
Re: Statement from Jerome Powell
#36For those,like me, who do not wnt to go to youtube: https://www.cnbc.com/2026/01/12/fed-jerome-powell-criminal-p... https://www.msn.com/en-us/news/us/federal-reserve-chair-powe...
Official written statement (same as the speech given) for those who prefer https://www.federalreserve.gov/newsevents/speech/powell20260...
Re: Statement from Jerome Powell
#37Holy 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?
Because it is, you are not. Checks and balances are at their limits (judicial branch), or non existent (Congress).
Re: Statement from Jerome Powell
#38I’m of the opinion from the old Yiddish proverb: “when the cat and dog are fighting, the mouse is safe”.
If the admin is fighting with the Federal Reserve, it means they are not focused on figuring out how to further screw us over…
Re: Statement from Jerome Powell
#39Holy 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?
I hope I turn out to be wrong, but the most convincing explanation I've seen for the "why" is that the 1945-2000 period was an anomaly, and now we're reverting to the mean: despotic governments, frequent wars for territory, and massive wealth inequality leading to powerful oligarchies as the only other important political players aside from the despot. This was the norm for the overwhelming majority of human history and perhaps it was massively hubristic to think we had escaped it for good.