President Trump is calling for lower Fed rates

[Anonymous]

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

Yes, we know how it works. Weird deflection. The comment is about a middle school president uttering the words “major loser.”

[Anonymous]

I think Trump is trying to install bitcoin as the ruling currency. I truly do.

He's breaking down the establishment and status quo structures but explicitly the financial sector. It's textbook. You fill in the gap with something - there's got to be a currency if not the USD and bitcoin is something that makes sense for him to promote.

I think he's less trying to destroy this country as he is trying to reorganize it into something that suits him and his ilk. I'm not sure there's actually much to do to stop the madness as it's about how weak the country has gotten over the years. It's one thing if it's simply Trump the evil monster but culturally and process wise, the US has been in bad shape for awhile going downhill in education, so much gun violence and general discontentment never mind obviously the anger and wealth gap among citizens. So it's a big picture of a good time for Trump to get what he wants unfortunately. It's all of us contributing but also we're at a point in history I think when stuff changes in a lot of countries.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

They didn't do so by openly bullying and threatening the Fed Chair on social media and on TV.

Sen. Elizabeth Warren criticized Powell. “Your record gives me grave concern,” the Massachusetts Democrat told Powell while he was testifying before the Senate Banking Committee. “Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed. And it’s why I will oppose your renomination.”

Also, Sen. Warren called for Powell to cut rates in Sept. 2024:

"The Fed chair has already said he's waited too late. He has already indicated that there were economic consequences of having held interest rates too high for too long. The data show us that inflation is down. He should have lowered these interest rates earlier," "He needs a bigger cut so that he shows that he finally gets it and that he is not making a deliberate effort to crash this economy," she continued. "It is time to lower the interest rate. I believe it should go down by 75 basis points. He needs to signal to the market that he finally gets it and that his job is to keep this economy steady," she continued.

Warren and Senate colleagues Sheldon Whitehouse, D-R.I., and John Hickenlooper, D-Colo., also penned a letter to Powell on Monday, urging the aggressive rate cut, warning that delays in doing so "have threatened the economy and left the Fed behind the curve."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

They didn't do so by openly bullying and threatening the Fed Chair on social media and on TV.

Sen. Elizabeth Warren criticized Powell. “Your record gives me grave concern,” the Massachusetts Democrat told Powell while he was testifying before the Senate Banking Committee. “Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed. And it’s why I will oppose your renomination.”

Also, Sen. Warren called for Powell to cut rates in Sept. 2024:

"The Fed chair has already said he's waited too late. He has already indicated that there were economic consequences of having held interest rates too high for too long. The data show us that inflation is down. He should have lowered these interest rates earlier," "He needs a bigger cut so that he shows that he finally gets it and that he is not making a deliberate effort to crash this economy," she continued. "It is time to lower the interest rate. I believe it should go down by 75 basis points. He needs to signal to the market that he finally gets it and that his job is to keep this economy steady," she continued.

Warren and Senate colleagues Sheldon Whitehouse, D-R.I., and John Hickenlooper, D-Colo., also penned a letter to Powell on Monday, urging the aggressive rate cut, warning that delays in doing so "have threatened the economy and left the Fed behind the curve."

That's because the Congress has oversight powers over the Fed. The POTUS does not have that power; POTUS can only appoint and fire (for cause) Fed Board members.

The Fed answers to the Congress, not the POTUS. Powell has to testify a few times per year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I mean, we know Trump is clueless but is no one going to say anything??

The emperor is bu tt naked.

He’s also a fascist.

It does appear to be intentional sabotage of the county. A hostile takeover. How can it be stopped?

[Anonymous]

Has anyone bothered to explain to the Great Orange Blunder that this is not the pathway to that Nobel Prize he so covets?

[Anonymous]

Please don’t let Trump run the economy. He is a f***ing moron.

[Anonymous]

Anonymous wrote:Has anyone bothered to explain to the Great Orange Blunder that this is not the pathway to that Nobel Prize he so covets?

He whines about the peace prize a lot, but since he seems to have given up on the peace process in Ukraine and Israel, it's not likely he will get the prize any time soon. It turns out that brokering peace is difficult, even for the world's "greatest deal-maker."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

They didn't do so by openly bullying and threatening the Fed Chair on social media and on TV.

Sen. Elizabeth Warren criticized Powell. “Your record gives me grave concern,” the Massachusetts Democrat told Powell while he was testifying before the Senate Banking Committee. “Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed. And it’s why I will oppose your renomination.”

Also, Sen. Warren called for Powell to cut rates in Sept. 2024:

"The Fed chair has already said he's waited too late. He has already indicated that there were economic consequences of having held interest rates too high for too long. The data show us that inflation is down. He should have lowered these interest rates earlier," "He needs a bigger cut so that he shows that he finally gets it and that he is not making a deliberate effort to crash this economy," she continued. "It is time to lower the interest rate. I believe it should go down by 75 basis points. He needs to signal to the market that he finally gets it and that his job is to keep this economy steady," she continued.

Warren and Senate colleagues Sheldon Whitehouse, D-R.I., and John Hickenlooper, D-Colo., also penned a letter to Powell on Monday, urging the aggressive rate cut, warning that delays in doing so "have threatened the economy and left the Fed behind the curve."

The economy in Sept 2024 is very different than it is today. Apples and oranges to make that argument.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I mean, we know Trump is clueless but is no one going to say anything??

The emperor is bu tt naked.

He’s also a fascist.

It does appear to be intentional sabotage of the county. A hostile takeover. How can it be stopped?

It would take four GOP House members and 13 GOP senators to end this madness today. And every day. And they won't.

why?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Has anyone bothered to explain to the Great Orange Blunder that this is not the pathway to that Nobel Prize he so covets?

He whines about the peace prize a lot, but since he seems to have given up on the peace process in Ukraine and Israel, it's not likely he will get the prize any time soon. It turns out that brokering peace is difficult, even for the world's "greatest deal-maker."

But he is so multitalented! He could get the Nobel in Economics for example. Just look at the ground-breaking work he is doing. He know economics better then anyone! Greatest capitalist who ever existed!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The tariffs would ordinarily be inflationary. Right now, they are not inflationary because consumer spending is stalled, waiting. Just like every other sector of the economy. All waiting. Waiting for Trump to grow up, for Congress to put their foot down. For WWII. Anything but this.

However, businesses and people cannot wait forever. Pretty soon, things will start melting down. Unless something changes.

If we keep going in this direction, I predict it will all come to a screeching crash by September when the supply chain cease to exist. Right now companies are using their stock pile that they over ordered in advance of this nightmare scenario, but that’s gonna run out. Shipping imports are already down.

September? What business gets 9 months of inventory? Car companies get antsy with 90 days and would prefer 30 days. Holding stock is an unnecessary expense.

I've listened to multiple interviews with business owners who pre-ordered as much inventory as they could after Trump was elected, then especially in March as they saw the tariffs were going to be worse than they expected. Some said they have 3-4 months stocked up as it was all they could afford. Others were able to get about a year's worth of inventory. They said storage fees were far less than the tariffs, and it also kept them from shutting down their business.

Those who didn't stock up or couldn't afford to stock much, will start running out this summer and fall. Obviously autos are a different category due to the space for storage and longer manufacturing time, than say toys or glass jars.

Unless tariffs are 180'd, we're going to be seeing empty shelves more than increased prices.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

They didn't do so by openly bullying and threatening the Fed Chair on social media and on TV.

Sen. Elizabeth Warren criticized Powell. “Your record gives me grave concern,” the Massachusetts Democrat told Powell while he was testifying before the Senate Banking Committee. “Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed. And it’s why I will oppose your renomination.”

Also, Sen. Warren called for Powell to cut rates in Sept. 2024:

"The Fed chair has already said he's waited too late. He has already indicated that there were economic consequences of having held interest rates too high for too long. The data show us that inflation is down. He should have lowered these interest rates earlier," "He needs a bigger cut so that he shows that he finally gets it and that he is not making a deliberate effort to crash this economy," she continued. "It is time to lower the interest rate. I believe it should go down by 75 basis points. He needs to signal to the market that he finally gets it and that his job is to keep this economy steady," she continued.

Warren and Senate colleagues Sheldon Whitehouse, D-R.I., and John Hickenlooper, D-Colo., also penned a letter to Powell on Monday, urging the aggressive rate cut, warning that delays in doing so "have threatened the economy and left the Fed behind the curve."

That's because the Congress has oversight powers over the Fed. The POTUS does not have that power; POTUS can only appoint and fire (for cause) Fed Board members.

The Fed answers to the Congress, not the POTUS. Powell has to testify a few times per year.

As for the comments of Sen. Warren (and Sen. Whitehouse), they are comparable to the President's. Your only reason for excusing those "bullying" comments is by claiming they have oversight over the Fed? Shouldn't those who are in an oversight role be even more careful about what they say? One might even think that Sen. Warren & Sen. Whitehouse were trying to bully Powell into cutting rates even more....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Trump appointed Fed Reserve Chairman Powell in 2017. Who’s the major loser?

Powell did get things wrong numerous times. Whether Trump is correct in calling for lower Fed rates is an open question. Lower rates might spur domestic borrowing to replace overseas investments.

Presidents from both parties have called for lower interest rates for decades.

They didn't do so by openly bullying and threatening the Fed Chair on social media and on TV.

Sen. Elizabeth Warren criticized Powell. “Your record gives me grave concern,” the Massachusetts Democrat told Powell while he was testifying before the Senate Banking Committee. “Over and over, you have acted to make our banking system less safe, and that makes you a dangerous man to head up the Fed. And it’s why I will oppose your renomination.”

Also, Sen. Warren called for Powell to cut rates in Sept. 2024:

"The Fed chair has already said he's waited too late. He has already indicated that there were economic consequences of having held interest rates too high for too long. The data show us that inflation is down. He should have lowered these interest rates earlier," "He needs a bigger cut so that he shows that he finally gets it and that he is not making a deliberate effort to crash this economy," she continued. "It is time to lower the interest rate. I believe it should go down by 75 basis points. He needs to signal to the market that he finally gets it and that his job is to keep this economy steady," she continued.

Warren and Senate colleagues Sheldon Whitehouse, D-R.I., and John Hickenlooper, D-Colo., also penned a letter to Powell on Monday, urging the aggressive rate cut, warning that delays in doing so "have threatened the economy and left the Fed behind the curve."

The economy in Sept 2024 is very different than it is today. Apples and oranges to make that argument.

The point is that the comments are comparable. If Sen. Warren and Sen. Whitehouse can criticize Powell (over the same issue of cutting rates), then so can the President.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Eggs were $4.49/dozen at Wegman’s this weekend.

They were $1.19/doz when Joe was president

But but they were eating the dogs