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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#401

Post by throw0101c »

rootusrootus wrote: post #388
throw0101c wrote: post #328

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. 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.

This is what Wolff, who has written 3-4 biographical books on Trump, thinks:

* https://en.wikipedia.org/wiki/Michael_Wolff_(journalist)

He used the term suis generic in a (PBS?) interview to describe Trump:

* https://en.wikipedia.org/wiki/Sui_generis

Re: Statement from Jerome Powell

#402

Post by SpicyLemonZest »

gruez wrote: post #344
SpicyLemonZest wrote: post #262

Earlier quoted context omitted.

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".

>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". You're basing this off... what? You're missing the options of "I'm indifferent about this", or "I don't agree with him on this but still think he's better as a whole than the alternative".

I'm missing "I don't agree with him on this" because I don't hear Trump supporters say that. Trump doesn't allow them to - he thinks it's wrong for anyone to disagree with him and illegal for anyone to try and stop him from doing something he wants to do. Again, the whole context here is that Trump is trying to jail one of his own appointees for failing to enact his preferred monetary policy.

Re: Statement from Jerome Powell

#403

Post by stetrain »

olalonde wrote: post #95

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.

The design of the algorithm, and the control over what data is fed into it, would be subject to political motivations.

Re: Statement from Jerome Powell

#404

Post by gruez »

datsci_est_2015 wrote: post #371
gruez wrote: post #284

Earlier quoted context omitted.

[flagged]

This response is funny to me, because there’s been a massive drop in rightwing violence in the US since Trump was elected… but that’s because state-sponsored violence isn’t counted towards the statistics. Pretty funny how there aren’t any more Proud Boy marches, yeah? Couldn’t be that they’re all getting paid six figure salaries to round up brown people at Kavanaugh stops… But yes. Most left wing thought leaders coun…

>This response is funny to me, because there’s been a massive drop in rightwing violence in the US since Trump was elected… but that’s because state-sponsored violence isn’t counted towards the statistics.

>Pretty funny how there aren’t any more Proud Boy marches, yeah? Couldn’t be that they’re all getting paid six figure salaries to round up brown people at Kavanaugh stops…

Yes, that's how protests typically work. If things are going your way, you stop protesting. Nobody is protesting for gay marriage in California because they already won.

Re: Statement from Jerome Powell

#405

Post by Loudergood »

ta9000 wrote: post #381
JeremyNT wrote: post #375

Earlier quoted context omitted.

> 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.

Plenty of them are malicious idiots. See quotes of them saying "They're hurting the wrong people"

Re: Statement from Jerome Powell

#406

Post by datsci_est_2015 »

3eb7988a1663 wrote: post #230
this_user wrote: post #202

Earlier quoted context omitted.

In his first term, he probably didn't yet understand how much power the office truly holds and how to wield it and just how far you can go with that. Because the main restriction on all of that power has always been convention rather than any actually robust guard rails. But no one, not even someone like Nixon, has ever dared to truly test that out.

I hate to assign him so much agency. The man seems a complete buffoon who lacks the ability to plan anything beyond real estate fraud. Instead, I look to all of the people in his orbit who can orchestrate long term goals. Sure, he will self sabotage many schemes, but will directionally go where the handlers want. Vance, Miller, Heritage Foundation, etc are the ones guiding most policy decisions. That tariffs have bee…

It’s clear that he’s very easily persuaded on many topics that he already has a slight bias towards, but that he also has his pet projects that his handlers don’t want to mess with because that would jeopardize their political capital (ball room).

Quick heuristic I have is: vanity project = Trump; neocon pet project = Heritage Foundation; anything related to racial purity = Stephen Miller; quackery = RFK and other grifters.

The tariffs are partially his bias, but also Navarro who lost his mind somewhere around 2015 and became an economics pariah.

Re: Statement from Jerome Powell

#407

Post by mothballed »

amanaplanacanal wrote: post #340
jordanpg wrote: post #310

Earlier quoted context omitted.

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.…

Not sure being out in the street really does much. Gives the jack booted thugs an excuse for a little recreational violence. A general strike might have an effect, but I'm not sure how you organize such a thing.

If protests worked better than the alternatives then that's what megacorps and multinational corporations would be doing instead of bribes and lobbying. 'The people' still dont understand they're playing an entirely different sport.

Re: Statement from Jerome Powell

#408

Post by gruez »

_DeadFred_ wrote: post #327
gruez wrote: post #284

Earlier quoted context omitted.

[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 BROADCAS…

>He is one of the administrations goto mouthpieces for communicating this administration's policy on the largest news station.

Source? Maybe you should update his wikipedia page because it doesn't even mention his involvement with the second Trump administration.

https://en.wikipedia.org/wiki/Brian_Kilmeade

Re: Statement from Jerome Powell

#409

Post by stetrain »

luxuryballs wrote: post #270
laidoffamazon wrote: post #94

I’m aghast but numb to this now. The biggest question for me now is how the usual defenders of this lawless administration will try to defend this or both sides it.

The defense is that the status quo has become archaic and self-serving instead of serving the public so the current operations people doing some house cleaning and tossing a few rooms to see what’s going on in there is overdue, changes need to happen and power structures need to be shaken out a bit to make sure they are not getting in the way of the people they were created to act on behalf of, and scatter the ones w…

That sounds nice, but I don't think there is much evidence that the above is actually what the current administration is doing, or even attempting to do.

Having blatantly political messages blasted across websites for national parks and on airport security video screens during the shutdown, for example, doesn't seem like a move towards "serving the public", but rather a move towards consolidation of direct control to the politicians at the top of the executive branch.

Re: Statement from Jerome Powell

#410

Post by Loudergood »

mapontosevenths wrote: post #120
neom wrote: 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…

> I wonder where you guys are headed. You need to know only two facts about America to guess that: * Fifty three percent of Americans now read below the sixth grade level. * As (ostensibly) a representative Democracy America's fate is dictated by the majority of it's citizens. Our future is to become a broken nation governed by middle-school student level thinking. The only way to build a better America is to build a…

In what language? 78% of Americans have English as their first language.
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