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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#321
post #2

For 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...

(This comment was originally posted to https://news.ycombinator.com/item?id=46582441, before we merged the threads)

Re: Statement from Jerome Powell

#322
post #169

Earlier quoted context omitted.

He was rewarded with full control of every branch of government. What did we expect?

Through what mechanism is he controlling the other branches of government?

Through the flawed primary system. Relatively few people vote in the primaries, which means they skew towards extremists. Trump can motivate MAGAns to vote in Republican primaries, which makes MAGA essentially a gatekeeper to Republican seats even in districts where the electorate at large is Republican rather than MAGAn.

He's not directly controlling the judiciary yet, but he has appointed wildly extremist judges and threatened judges who rule against him with impeachment, so he's certainly making an effort.

Re: Statement from Jerome Powell

#323
post #217

Earlier quoted context omitted.

> I fear this is all going one way That belief isn't the consequence of the situation, but the cause. There is ample ability to change events, but people must believe they can act and act together, as they have for centuries of democracy and for all human history. They do it in Iran. The Republicans and MAGA movement have made changes that would have been unbelievable ten years ago.

Stated differently, if things really are so bad (and I would be the first to agree that things are pretty bad), then why are so many comfortable people (like me) not out on the street every day? There are a lot of reasons for that, of course, but the bottom line is that when things get bad enough -- much worse than they are today -- then more people will take to the street, along with whatever sacrifice that entails.…

>then why are so many comfortable people (like me) not out on the street every day?

because a lot of people have a kind of built-in main character syndrome and believe they're the protagonists of the world and things can't really go bad. They haven't internalized that there isn't some god behind the curtain that saves them.

That's how it goes in every country that ends up in the dirt, they all thought they were special, they all thought "surely we're not there yet" and you can pick their remains out of the rubble.

relevant piece from a few years ago: https://indi.ca/i-lived-through-collapse-america-is-already-...

Re: Statement from Jerome Powell

#324

Shots fired. Even the republicans will not be able to ignore this and they know that if Powell caves in the American economy will likely collapse. So who will speak up in his defense?

It's probably going to collapse anyway. He's been hitting all of the pillars of the economy with a sledge hammer.

Yes, but for now the USD has more or less survived. If Trump forcibly removes the FED chair on a pretext things could go downhill very fast. You can probably kiss the USD as a reserve currency goodbye overnight and China is going to have a real problem given the amount of debt they hold. This could easily knock the last pillar that holds it all up away.

Re: Statement from Jerome Powell

#325
If Trump does try to politicize the fed he is going to do the one thing that the American political system will not tolerate - messing with the money of the most powerful capital class in the world. Normally, the incentives of this class are most aligned with grinding the rest of us into a fine powder suitable for lubrication of the engines of commerce, but hopefully just this once they'll come to the rescue. My only fear is that the short term quarterly obsessions that we've built might actually lead to some business supporting this decision out of a suicidal drive for short term gains.

Re: Statement from Jerome Powell

#326

I dislike the existence of the Fed, but I dislike the idea of the executive branch being in control of monetary policy even more. I'll be tuning in to see how the case progresses.

The FED is much maligned, but has brought a lot of stability to the economy.

Re: Statement from Jerome Powell

#327
post #284

Earlier quoted context omitted.

FOX News is workshopping/normalizing the murder of undesirables. Is FOX speaking to/for a small minority? https://www.youtube.com/watch?v=phYOrM3SNV8

[flagged]

Fucking wild. You can't get more mainstream opinion than this guy. Trump regularly has phone calls on air with this person, he's isn't a random someone on TV. He is one of the administrations goto mouthpieces for communicating this administration's policy on the largest news station. They are workshoping/normalizing MURDERING UNDESIRABLES on their MAINSTREAM MEDIA by hosts that the president ROUTINELY USE TO BROADCAST HIS MESSAGE. My point is THEY ARE OK WITH KILLING PEOPLE THEY DON'T WANT. A meak 'my bad' doesn't mean shit.

And you waive it away. 'Bro said my bad dude, what more do you want? You think he shouldn't be an administration mouthpiece just because he wants extra-judicial killing? Cancel culture'. You are literally Martin Niemöller:

"First they came for the Communists And I did not speak out Because I was not a Communist" ...

He was literally you. He justified their calls for 'only killing Communists and only because they are bad and want to do bad things....' just like you.

Edit: oh you are just being disingenuous got it. I'm not burning another comment on you and getting throttled so here: https://www.youtube.com/results?search_query=brian+kilmeade+...

Re: Statement from Jerome Powell

#328

The US drift into Adam Curtis' broad thesis in hypernormalisation(a) continues apace I see. Great to see J Pow putting up a fight but I fear this is all going one way. (a) >We live in a world where the powerful deceive us. We know they lie. They know we know they lie. They don't care. We say we care but do nothing.

I think the real test will be, not whatever this administration does, but how much of that survives into the next one - how much is the new normal versus how much is a temporary aberration. That’s true even if the next administration is Republican (Vance or whoever), but especially true if the next administration ends up being Democratic instead-which while not certain, has decent odds-the more Trump defies norms, th…

> I think the real test will be, not whatever this administration does, but how much of that survives into the next one - how much is the new normal versus how much is a temporary aberration.

A reminder that this is the second time that Trump has been elected.

(People were saying what you're now saying after he was kicked out—an event that he says was rigged—the first time.)

Re: Statement from Jerome Powell

#329

I’m a little shocked to see the quality of some comments here - I would expect a more grounded discussion. This is like Reddit / YouTube comment history. Someone please tell me this is a Wendy’s. Sure the Fed isn’t perfect. But we don’t really have a better solution as of now because our financial systems are extremely powerful and anyone in office would love to abuse it if they can. Sure, the renovations are ridicul…

HN has better baseline conversation, but Social Media is inane by its very nature.

Re: Statement from Jerome Powell

#330
post #246

Earlier quoted context omitted.

>Is there some well of non-rabid Trump supporters that I'm not aware of? I'm always open to the idea that I'm in a bubble, but my experience is that even the least rabid Trump supporters are completely unwilling to criticize him or oppose something he wants. In the context of the previous comment, the "non-rabbid" (and probably median) supporter would be someone voting Trump because they think they trust him more on…

Right! With a non-fascist politician, what you're describing would be extremely abnormal; the median Biden supporter, Obama supporter, or Bush supporter would routinely take positions their guy didn't agree with even though they supported him overall. But the range of Trump supporter opinions stretches only from "politely support everything he wants to do" to "be performatively mean about everything he wants to do".

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