Multiple Republican senators have come out to voice their opposition to President Donald Trump pursuing criminal charges against Fed chair Jerome Powell.
I suspect we may be seeing more of this. Whether or not it adds up to anything, IDK. Trump is fucking up business with his dipshit moves like tariffs and attacking Powell.
No rich person in the US likes tariffs, they also don’t like economic instability and inflation. Trump putting in a crony that lowers the interest rates to -1% will cause severe problems in the economy.
Powell has by and large been pretty competent in his job. He was perhaps a bit slow on lowering interest rates but not in an indefensible manner.
He wasn’t slow on lowering interest rates, he was slow to raise them. Back under Biden they should have raised rates faster to offset the rising inflation.
However, under Trump there isn’t any evidence yet that rates should be lower. In fact the Fed board has been split on raise/lower/hold rates, due to persistent inflation (due to tariffs and crazy economic policy) and a slowing economy (due to tarrifs and crazy economic policy). Basically, with an admin dead set on ruining the economy, doing anything with the rates seems likely to just accelerate things from bad to worse.
I suspect we may be seeing more of this. Whether or not it adds up to anything, IDK. Trump is fucking up business with his dipshit moves like tariffs and attacking Powell.
No rich person in the US likes tariffs, they also don’t like economic instability and inflation. Trump putting in a crony that lowers the interest rates to -1% will cause severe problems in the economy.
Powell has by and large been pretty competent in his job. He was perhaps a bit slow on lowering interest rates but not in an indefensible manner.
He wasn’t slow on lowering interest rates, he was slow to raise them. Back under Biden they should have raised rates faster to offset the rising inflation.
However, under Trump there isn’t any evidence yet that rates should be lower. In fact the Fed board has been split on raise/lower/hold rates, due to persistent inflation (due to tariffs and crazy economic policy) and a slowing economy (due to tarrifs and crazy economic policy). Basically, with an admin dead set on ruining the economy, doing anything with the rates seems likely to just accelerate things from bad to worse.