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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#521

Post by jacquesm »

refurb wrote: post #502
kentm wrote: post #483

Earlier quoted context omitted.

This administration has not been operating the DoJ in good faith. One only has to look at the buffoonish attempts to push through charges on Comey, James and other political opponents to see that. Treating the investigation in good faith is not being neutral or unbiased. Expecting more of the same is.

> One only has to look at the buffoonish attempts to push through charges on Comey, James and other political opponents to see that. How so? Charges were dismissed on a technicality of on the US prosecutor who brought them, not based on evidence presented. Have you seen all the evidence? You seem very confident that no crime has been committed. I mean we've seen the declassified Obama memo on sicking the CIA on Trump…

Because it is very clear to most people - you excepted, apparently - that this is not a normal case but one that is solely predicated on putting pressure on someone who is not acting on Donald Trump's whim but based on their job description. If Powell would have reduced the interest rates further this would have never happened.

The DOJ is now weaponized as a political tool, rather than that it is used for its real purpose. If you refuse to see this that's on you, not even on Donald Trump. The FED is independent for a reason, you are seeing that mechanism in action and so far no US president has every made a move like this.

Re: Statement from Jerome Powell

#522

Post by jacquesm »

12_throw_away wrote: post #416
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 Oh boy would I love to join you in whatever alternate dimension you live in.

Republican representatives have been very much behaving like cattle, they're scared and they think that there are no other options but to cower and to jump to Trump's every whim. If one of them stands tall and survives (which remains to be seen) and speaks up then quite possibly others will follow.

Re: Statement from Jerome Powell

#523

Post by jacquesm »

moogly wrote: post #384
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."

Yes, there is a chance of that.

Re: Statement from Jerome Powell

#524

Post by LunaSea »

esalman wrote: post #273
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.

Easy, he committed fraud by blowing up the renovation budget.

Could you point me to the East Wing of the White House please?

Re: Statement from Jerome Powell

#525

Post by LunaSea »

Herring wrote: post #183
AnimalMuppet wrote: post #164

Earlier quoted context omitted.

If that's the bar, well, China is not a sterling example of central bank independence and the rule of law either.

China hasn’t dropped bombs on foreign soil in 45 years. I think I’m ok with that situation.

They took Hong Kong over violently in 2019.

Re: Statement from Jerome Powell

#526

Post by CalRobert »

Mistletoe wrote: post #168
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…

We vote. That’s all we can do. 50.5% of the people voted for this insanity in 2024. We can only hope they see how this is going and vote differently in 2026 and beyond.

Was it not 49.9%?

Re: Statement from Jerome Powell

#527

Post by padjo »

danaris wrote: post #511
fyredge wrote: post #445

Earlier quoted context omitted.

This is not a fallacy, simply an opinion you disagree with. But one which I strongly agree with. I'm not American, and though I may not agree completely with the politicians I voted for, I have not been blindsided yet. The second election of Trump is a symptom of Americans either unable or unwilling to look beyond single issues or sports team politics. To then turn around and act surprised is just a way to convenient…

If you're not American, then you may not understand the way the American voting system works. We only have two parties. (Technically, there are some third parties, but they're effectively worse than negligible—voting for them is guaranteed to either do nothing or harm the cause you're interested in, unless the candidate is already a member of a major party and merely cross-endorsed.) This means that if you care about…

That is exactly the problem. The first past the post single representative systems all have this feature. It seems almost inevitable that they will just because of that. Some sort of representative system will reduce this disconnect between what voters want and what they get because it allows more parties to flourish. The downside is that you end up with coalition governments. These are seen as “weak” although I’m not sure that’s a bad thing.

Re: Statement from Jerome Powell

#528

Post by immibis »

gruez wrote: post #398
dd8601fn wrote: post #373

Earlier quoted context omitted.

I think that's the point. None could name a crime, and that didn't matter. Meanwhile, 34 actual felony convictions, court finding misuse of millions in charity funds, an attempted coup, being found liable for sexual assault, SCOTUS having to formally place the president above the law to avoid prosecution... none of it even moved the needle for those same folks. None of it is about law and order.

>I think that's the point. None could name a crime, and that didn't matter. From a 10s skim on wikipedia: >Some experts, officials, and members of Congress contended that Clinton's use of a private email system and a private server violated federal law, specifically 18 U.S. Code § 1924, regarding the unauthorized removal and retention of classified documents or materials, as well as State Department protocols and pro…

It's clearly a rationalisation. Nobody is rabidly averse to private email servers and calling for prison for every politician who used a private email server. It's Hillary specifically.

Whereas everyone thinks that all child rapists should be in prison!

Re: Statement from Jerome Powell

#529

Post by quinndexter »

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…

Five people are voting on what to have for dinner. Three people vote for pizza. Two people vote for "You three." Pizza has won, but there is still a massive problem in that room.

Re: Statement from Jerome Powell

#530

Post by immibis »

pstuart wrote: post #440
Aurornis wrote: post #435

Earlier quoted context omitted.

> * As (ostensibly) a representative Democracy America's fate is dictated by the majority of it's citizens. No, it's determined by the people who actually go out and vote. Bizarrely, voter turnout among younger people remains low. It's beyond frustrating to work with large groups of young people who are seemingly always talking politics and angry about something political, then to watch as half of them either forget…

There were millions of voters who refused to vote for Harris because of the Gaza situation -- oh, the irony. https://www.imeupolicyproject.org/postelection-polling

That's half the problem. Democrats aren't offering much.
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