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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#491

Post by oenton »

OutOfHere wrote: post #274
swagmoney1606 wrote: post #252

Earlier quoted context omitted.

There hasn't been a single point in my shorter life so far where things have been this out of control. The fed is supposed to be as non-political as possible. I know politics and the economy are intertwined, but tell me how this won't end up a disaster please. How do we get back to the USA we had even 10 years ago?

[flagged]

This is the second or third comment I’ve seen online that says this. I’m curious how do you conclude the fed has “never been non-political?” Is this just a matter of using the right terminology? The term “non-political” (also “independent”) isn’t concerned with each board member’s individual party affiliation, or how they vote in elections. It just means that management of the fed and importantly its monetary policy I.e. the federal rate, be guided by data; not influenced by short term goals of politicians and especially not influenced by the President or his administration.

(Edit) all that to say, maybe that’s what you meant by “never at an individual level”?

Re: Statement from Jerome Powell

#492

Post by bloppe »

palmotea wrote: post #439
Aurornis wrote: post #429

Earlier quoted context omitted.

> This is the political will of a plurality of American voters. This fallacy gets repeated over and over, but it's obviously false. Have you really never voted for a candidate who went on to do things you didn't agree with? It's a quintessential fact of politics that voting for a candidate is not equivalent to an endorsement of everything that candidate does in the future. It's a premise that is obviously false when…

>> This is the political will of a plurality of American voters. > This fallacy gets repeated over and over, but it's obviously false. And it's used to condemn and justify . Most politicians, including Democrats , like to pretend that winning means the unpopular policies they happen to like are the will of the people. They will constantly gaslight you on it. In reality, American politics gives people coarse choices t…

It's true that partisan politics provides only coarse choices. That's true of America's bipartisan system as well as multiparty parliamentary systems. But the parties are still dynamic coalitions that can change dramatically over time. Just look at the difference between the 1950s Democrats vs the 2000s Democrats, or the 2015 Republicans vs the 2020 Republicans.

The coarse options that are available at election time can be massively influenced in the years leading up to the election.

Re: Statement from Jerome Powell

#493

Post by nullocator »

mrtksn wrote: post #449
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…

They are headed for complete fascist take over. Going through a phase that Europeans went through a century ago, end up destroying themselves. It’s very concerning that they have nukes. JD Vance said something about the risks UK and France owning nukes, I think he just wanted to start the conversation because I think he believes that it’s actually US that is the risk. We know that the guy is not actually a Trump ideo…

I think it'd be a mistake to assume that JD Vance is not exactly what he portrays himself as at this point. He certainly seems onboard with everything thats happening and is happy to defend it and push the boundaries for more lawlessness.

Re: Statement from Jerome Powell

#494

Post by jb1991 »

blurbleblurble wrote: post #292
jb1991 wrote: post #96

Venezuela, Greenland, and this. Anyone notice how these extreme events all happened around the same time of the Epstein files getting released with highly publicized questions about all the redactions? It certainly seems like a distraction game.

Not to mention what's happening in Minnesota

The difference is that the actions and rhetoric around Venezuela and Greenland and the Fed reserve are direct actions by Trump. The thing in Minnesota is a tragedy but I don’t think he told anyone to go out and kill somebody on the street.

Re: Statement from Jerome Powell

#495

Post by Tanoc »

TheAlchemist wrote: post #426
Aurornis wrote: post #188

Earlier quoted context omitted.

> 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…

> The current administration will end They way the current administration act, I start to think that their plan A is to stay for a long long time. There is so much open corruption that half of them would land in prison really quickly and they don't seem particularly bothered by that fact.

You're thinking about it with the wrong basis. They will not land in prison because they broke enough enforcement mechanisms to escape punishment. The administration will end, but the regime will not. Even if Trump died tomorrow, enough people have followed him through the holes he created that things will continue. You will of course have factions form and have those factions fight amongst eachother as they head off in their own directions, but the factions will exist in the first place. There is no way to stop them from forming and pursuing their goals without building new enforcement mechanisms, which they will obviously and vehemently impede the construction of. These people will likely die of age before they spend even a second getting a burning hot de-lousing shower and an orange one piece. This has happened every two decades in the U.S. since Reconstruction was sabotaged and prematurely ended.

Re: Statement from Jerome Powell

#496

Post by mrtksn »

nullocator wrote: post #493
mrtksn wrote: post #449

Earlier quoted context omitted.

They are headed for complete fascist take over. Going through a phase that Europeans went through a century ago, end up destroying themselves. It’s very concerning that they have nukes. JD Vance said something about the risks UK and France owning nukes, I think he just wanted to start the conversation because I think he believes that it’s actually US that is the risk. We know that the guy is not actually a Trump ideo…

I think it'd be a mistake to assume that JD Vance is not exactly what he portrays himself as at this point. He certainly seems onboard with everything thats happening and is happy to defend it and push the boundaries for more lawlessness.

I agree but IMHO he is not in for the ideology of it, therefore he might prefer not to destroy the world for ideological gains.

Re: Statement from Jerome Powell

#497

Post by nullocator »

throw0101c wrote: post #256

Observation: > Some countries that have prosecuted or threatened to prosecute central bankers for the purpose of political intimidation or punishment for monetary policy decisions: Argentina, Russia, Turkey, Venezuela and Zimbabwe. * https://xcancel.com/jasonfurman/status/2010532384924442645#m * https://en.wikipedia.org/wiki/Jason_Furman And Senator Thom Tillis (R-NC) > If there were any remaining doubt whether advis…

Thom Tillis is a liar and will immediately confirm whoever Trump nominates. There are no examples of Tillis or other prominent republicans ever coming together to actually effectively oppose a Trump nominee (see the current secretary of defense, or leader of DHS for evidence).

Re: Statement from Jerome Powell

#498

Post by Tanoc »

mrtksn wrote: post #458
fooey wrote: post #145

Earlier quoted context omitted.

There's basically nothing the American people can do short term. The US government is entirely non-responsive and only nominally representative. Barring a wave of Republican retirements in the House, the absolute soonest there are any guardrails are after the 2026 midterms when a new congress is seated in 2027.

Of course there’s, it’s just that anti-Trump people don’t care as much and are not as brave as the pro-Trump people. MAGA people stormed the capitol, anti-Trump people just write well thought concerns on the internet. MAGA people for years endured deplatforming and being outcasts but developed methods to deal with it, the anti-Trump people are scared to lose what they have and are too concerned about their difference…

The pro-Trump group don't think about consequences is the thing. The anti-Trump group do, and that's a big reason why they're slow to respond. Performing a siege on the Capitol was a stupid, angry, and impulsive reaction with no thought of the consequences afterwards. That's the way the entire pro-Trump group tends to act. Meanwhile the anti-Trump group think about knock-on effects and long term consequences because they understand that nothing is an island and that everything is connected to everything else, even through degrees of separation. It makes them hesitant to do anything right away because they first have to consider what the ripples are going to affect outside of the area of their immediate focus. One group is reactive and the other is proactive, and being proactive is always going to be slower.

Re: Statement from Jerome Powell

#499

Post by sapphicsnail »

mrtksn wrote: post #458
fooey wrote: post #145

Earlier quoted context omitted.

There's basically nothing the American people can do short term. The US government is entirely non-responsive and only nominally representative. Barring a wave of Republican retirements in the House, the absolute soonest there are any guardrails are after the 2026 midterms when a new congress is seated in 2027.

Of course there’s, it’s just that anti-Trump people don’t care as much and are not as brave as the pro-Trump people. MAGA people stormed the capitol, anti-Trump people just write well thought concerns on the internet. MAGA people for years endured deplatforming and being outcasts but developed methods to deal with it, the anti-Trump people are scared to lose what they have and are too concerned about their difference…

People are out there protesting right now even though ICE and the police have a history of shooting unarmed protestors. Leftists protestors are and always have been more harshly treated by this government than the other side.

Re: Statement from Jerome Powell

#500

Post by kivle »

TheAlchemist wrote: post #426
Aurornis wrote: post #188

Earlier quoted context omitted.

> 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…

> The current administration will end They way the current administration act, I start to think that their plan A is to stay for a long long time. There is so much open corruption that half of them would land in prison really quickly and they don't seem particularly bothered by that fact.

https://www.reuters.com/world/us/trump-house-republicans-if-...

They know, and they will do everything in their power to stop the next presidential election from being a fair one.

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