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Statement from Jerome Powell

federalreserve.gov

701–710 of 871 posts

Re: Statement from Jerome Powell

#701

Earlier quoted context omitted.

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%?

It was a larger majority of electoral votes though, which is how we elect presidents

Re: Statement from Jerome Powell

#702
post #607

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…

> It's just navel-gazing to pretend like what he's doing has high approval Then how is it being reflected in Congress? Where are the Republicans speaking loudly on behalf of their dissatisfied constituents and voting on bills accordingly? We shouldn't have to wait every two years for a midterms or general election for the negative approval rating to make itself known, politicians can choose any time to act in a way t…

they're basically fucked. they can't turn against Leader, because their base would abandon them immediately. But they desperately wish they could hold him back, because they are well aware they are going to get creamed in November.

as far as "bills", there's no bills because that's up to Mike Johnson who is a super loyalist. His district is very safe (Cook R+26).

Re: Statement from Jerome Powell

#703

The US drift into Adam Curtis' broad thesis in hypernormalisation(a) continues apace I see. Great to see J Pow putting up a fight but I fear this is all going one way. (a) >We live in a world where the powerful deceive us. We know they lie. They know we know they lie. They don't care. We say we care but do nothing.

> We say we care but do nothing.

Historically this is always the case until it absolutely isn't. And things just boil over.

Rupture -- often revolutions -- are entirely unpredictable, and cascading. They often occur after several failed attempts make it seem like the discontent has been at least partially contained (e.g. Russia in 1905 vs Russia in 1917). Maybe we're seeing this in Iran right now.

The kind of governance that Trumpism is attempting is inherently unstable. My guess is its higher level adherents know this. They just want to get theirs while they still can. Should be obviously the case as its very figurehead is obviously not thinking long term as he only has a few years left to live.

Re: Statement from Jerome Powell

#704

Earlier quoted context omitted.

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

This is utterly delusional. I can’t comprehend of whatever mind virus made it so far into the American political discourse for this BS to still be parroted in 2026. I am blessed to be born in and to reside in a country with a comparatively much better-functioning government and voting system. You better believe that if I were American I’d be voting for the dems in a heartbeat. I’d be endlessly annoyed about it, espec…

I think it’s reasonable not to vote for a candidate that supports genocide.

Maybe that’s not a line for you but surely you have a line that cannot be crossed somewhere

Re: Statement from Jerome Powell

#705

Earlier quoted context omitted.

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.

Republicans are afraid of their base . This is what has been said by republican reps when asked why they don’t break with Trump. Even now, Trump has some impressive Republican approval numbers given the scenario America finds itself in. He operates on a version of America that is a shadow of the old nation, and in that shadow, it doesn’t actually need the capabilities and complexities it had developed over the past c…

I think vast, permanent, unelected bureaucracies should be relegated to the shadows.

Re: Statement from Jerome Powell

#706

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…

We're still fixing the problems from Reagan. The USA and the world will be feeling the aftershocks 100 years from now.

Re: Statement from Jerome Powell

#707

The US drift into Adam Curtis' broad thesis in hypernormalisation(a) continues apace I see. Great to see J Pow putting up a fight but I fear this is all going one way. (a) >We live in a world where the powerful deceive us. We know they lie. They know we know they lie. They don't care. We say we care but do nothing.

Curtis's HyperNormalisation , a BBC documentary, for those unfamiliar: https://en.wikipedia.org/wiki/HyperNormalisation > Video, at BBC Online: https://www.bbc.co.uk/programmes/p04b183c >

And for anyone who is nervous about clicking that video link at work: BBC in this context stands for British Broadcasting Corporation, which is a fairly well respected news group.

Re: Statement from Jerome Powell

#709

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Abortion is an emblematic example of how this kind of triangulation doesn't do what you're expecting. The Democratic party didn't take abortion up on the federal stage, repeatedly declining to create any new statutory protections and endorsing things like the Hyde amendment that acknowledge it's a contested issue. I think that was probably the right decision even in retrospect, but it didn't earn them even a modicum…

I mean, everyone knows that D widely supports abortion. It's been shouted from the rooftops for decades. It wouldn't be very believable in one cycle even if they tried, which they didn't; neglecting to bring up the topic is not close to publicly dropping support. Part of why it's so bad for them is because it will be very difficult to get disentangled from it. From a pro-life perspective, "well they didn't make it ea…

To me your phrase "publicly dropped support for abortion" sounds like "neglecting to bring up the topic". If you mean that Democratic leaders should somehow convince their members to support abortion restrictions that they oppose, I'm not sure why you would presume that's possible.

Re: Statement from Jerome Powell

#710

Earlier quoted context omitted.

I don't think so. Remember the first time you wanted to buy a stock. You used a product or a service that you liked immensely, realized it had a stock and wanted to be involved. 1 billion people are using AI, not dramatically changing their lives yet of course but for sure they go 'wow incredible I want to be part of this' when they make a video with Sora or generate a pamphlet without having to work

So you’re hoping for the ai bubble to be saved by naive retail investors? I mean, that can’t last forever.

Nor would it have much impact. Retail investors are a tiny part of the market. Sure, we all have 401Ks and IRAs, but are we collectively trading GOOG and MSFT? No. The people managing funds that go into those 401Ks are trading those stocks, but individually we aren't (generally speaking, of course).
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