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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#381

Post by ta9000 »

JeremyNT wrote: post #375
mmooss wrote: 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.

> 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. This is the political will of a plurality of American voters. They certainly can't claim they didn't know what they would get, and they seem unconcerned by any of these actions that many of us find terrifying. It is difficult to see how we can democracy o…

Frankly I don’t think Trump 1 vs Trump 2 admin wise are the same. Many people were duped. They’re idiots, but not malicious idiots.

Re: Statement from Jerome Powell

#382

Post by ProllyInfamous »

pixelatedindex wrote: post #218
derangedHorse wrote: post #144

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.

Do you have an alternative to the Fed? Likes and dislikes has nothing to do with it. Or let me ask you another way — why do you dislike the Fed?

[flagged]

Re: Statement from Jerome Powell

#383

Post by callc »

jiggawatts wrote: post #129
abrookewood wrote: post #61

Earlier quoted context omitted.

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.

It goes back before Donald was in charge of the Trump real estate business. It started with a really really shitty father who desired a “killer” business instinct in his children (read: cruelty) above all else.

Reading some of Mary Trump’s books will give some insight on the family that Donald grew up in. No love, all cruelty.

Donald is just a rich kid who inherited a big business and learned nothing but cruelty from his daddy.

Re: Statement from Jerome Powell

#384

Post by moogly »

jacquesm wrote: post #304

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?

> Even the republicans will not be able to ignore this

GOP: "Hold my beer."

Re: Statement from Jerome Powell

#385

Post by shermantanktop »

pixelatedindex wrote: post #226
kettlecorn wrote: post #197

Earlier quoted context omitted.

I think a lot of largest tech companies feel that they'll face retribution from the current administration for not being supportive enough but would not from future admins. For many of the smaller players I think there's unfortunately a lot of people who realized there's significant money to be made in grifting. Many of the largest crypto proponents have pivoted into endeavors, whether crypto or otherwise, that profi…

> I think a lot of largest tech companies feel that they'll face retribution from the current administration for not being supportive enough but would not from future admins. The Democrats should play hardball but the geriatrics can barely take a swing.

They don’t know where the plate is, what the game is, or what day it is. They’re just hoping for ice cream when the nurse comes around with the meds. Meanwhile they are retelling stories from the 1960s for the hundredth time.

Even the young ones act like this.

Re: Statement from Jerome Powell

#386

Post by Freedom2 »

afavour wrote: post #272
skissane wrote: post #257

Earlier quoted context omitted.

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 test beyond that is how willing the next government will be to codify meaningful changes into law. After Trump’s first time it’s as if there was a big sigh of relief and a notion of “well, we just won’t do that again”. It’s very clear now that we need a lot more regulation of what presidents can and cannot do. Not to mention judicial reform. But if you’re a democrat theoretically getting power in 2028 you…

What's the point of law if no one is willing to enforce it?

Re: Statement from Jerome Powell

#387

Post by acdha »

throw0101c wrote: post #328
skissane wrote: post #257

Earlier quoted context omitted.

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.)

Exactly: there was a brief moment when it looked like Republicans were willing to hold him accountable after the January 6th insurrection but that faltered and they circled ranks, especially when Roberts signaled that Trump had the support of the Supreme Court to the extent that they were willing to concoct a new constitutional doctrine to shield him.

A lot of people were hoping he’d just go away without them having to do anything difficult, but it’s clear that the next government has to reestablish the United States as a constitutional republic with the rule of law, even if it means hard things like trials for officials who abused their power. This kind of slide into authoritarianism isn’t an accident, and without consequences the people pushing it will keep trying.

Re: Statement from Jerome Powell

#388

Post by rootusrootus »

throw0101c wrote: post #328
skissane wrote: post #257

Earlier quoted context omitted.

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.)

A lot of us are really, really hoping that there is something unique about Trump that cannot be easily reproduced by the next MAGA leader. That the movement will fragment into irrelevancy as the usual elites regain control.

Re: Statement from Jerome Powell

#389

Post by consumer451 »

Aurornis wrote: post #77
consumer451 wrote: post #15

Earlier quoted context omitted.

Well, you see... he is part of the "un-elected deep state." Clearly, that is a problem that needs to be solved.

I know you’re being sarcastic, but Trump was the person who nominated Jerome Powell as chair. This move is public punishment for not falling in line.

Thank you for pointing this out. It is really interesting, the difference between Trump 45 and Trump 47.

I would like to add one quote to be logged on this website:

> "I go back and forth between thinking Trump is a cynical asshole like Nixon who wouldn't be that bad (and might even prove useful) or that he's America's Hitler," he wrote privately to an associate on Facebook in 2016. [0]

- Trump's future Vice President, JD Vance

If we survive the fall of Pax Americana in the next few years, and journalists and historians are again allowed to operate in a free environment, I really hope that they get to the core of how we got from 45 to 47.

[0] https://www.reuters.com/world/us/jd-vance-once-compared-trum...

Re: Statement from Jerome Powell

#390

Post by moogly »

Aurornis wrote: post #188
renegade-otter wrote: post #86

Earlier quoted context omitted.

America has enough power to help someone else. No one has the power to save America from itself. The cavalry is not coming, and this fire is going to take its course. One day, maybe we will rebuild from scratch.

> One day, maybe we will rebuild from scratch The current situation is bad, but this is just doomerism. The current administration will end. Trump can't live forever. His approval rating is already low and falling. We're in for a bumpy ride, but then it's going to start reverting toward the mean. Not necessarily back to the way things were, but periods of extreme like this are followed by a reversion to the mean more…

Probably the mantra Chuck Schumer recites before sleep every night.
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