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Statement from Jerome Powell

federalreserve.gov

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Re: Statement from Jerome Powell

#61

Post by abrookewood »

davidw wrote: post #3

This is... just crazy. One of those mostly boring bits of plumbing that has been left to professionals throughout the entire 50 years of my life - and they're trying to wreck it.

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 that the USA held.

Re: Statement from Jerome Powell

#64

Post by Aurornis »

brcmthrowaway wrote: post #52

Does anyone have a steelman argument for this?

Do you think that criminal prosecution for Jerome Powell for maybe doing something wrong with some building renovations under timing that just happens to coincide with the President’s personal and public vendetta against this person is worth steelmanning?

At some point it stops being steelmanning and starts becoming an invitation for some propaganda to distract from the obvious.

Re: Statement from Jerome Powell

#66

Post by collinfunk »

pluralmonad wrote: post #49
SpicyLemonZest wrote: post #26

Earlier quoted context omitted.

I implore you to stop being credulous before it's too late. Trump supporters deeply believe, and are not shy about saying, that anyone who stops Trump from achieving his political goals should be imprisoned or murdered.

Holy shit. If you believe even a small minority actually want that, please unplug and talk to real people in meat space.

Even if one grants that it is a small minority, aren't they still voting for someone who advocates for jailing and killing political opponents?

Re: Statement from Jerome Powell

#68

Post by Thegn »

Analemma_ wrote: post #39
Loughla wrote: post #4

Holy shit. So our monetary policy will be just set at the arbitrary whims of the president if this new scheme works. Why does all of this feel like it's just sliding completely out of hand? Am I just being a doomer?

I hope I turn out to be wrong, but the most convincing explanation I've seen for the "why" is that the 1945-2000 period was an anomaly, and now we're reverting to the mean: despotic governments, frequent wars for territory, and massive wealth inequality leading to powerful oligarchies as the only other important political players aside from the despot. This was the norm for the overwhelming majority of human history…

With the added fun of nuclear weapons!

Re: Statement from Jerome Powell

#69

Post by throwaway_2494 »

voidfunc wrote: post #30

Exciting two weeks to start the year!

You know this part of the problem!

Politics is now consumed as entertainment, and ask any writer of books or screenplays and they will tell you _conflict_ makes for good entertainment.

Politics should be _boring_. The fact that we demand to be entertained by our political system is a big part of the problem.

Re: Statement from Jerome Powell

#70

Post by ptero »

prodigycorp wrote: post #11

Many times I've disagreed with Powell, but major props for this statement.

I came in to say the same thing -- major, major respect to Powell.

I am not a big fan of his earlier policies (or of Greenspan's and anyone after him for that matter). His "unlearn the importance of M2" did not age well. He made the tail end of the ZIRP more painful than it needed to be. But those were honest mistakes from a public servant who did his best and believed in what he is doing.

And standing up for what he believes is right, against this insanity from the president is the gold standard of what we need from public servants. My 2c.

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