Who is responsible for having chosen the head of the federal reserve?

Nordberg said:
Raising the rate a quarter of a percent is not a big economic factor, even 3 times. But the ability to raise and lower it is how the economy is managed. Moving the rate is one tool the Fed uses to lessen economic problems. It is also how inflation is handled.
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no shit Sherlock.
what you miss is we ALREADY HAD 3 INCREASES before the December one.

and that was done in what is essentially a bear market..FED couldn't design a better way to start a recession if it tried
 
noise said:
I don't think he will fire him, but the Fed rate increases -most especially this last one- was very bad for the economy
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The economy has been bad for a majority of the people for quite some time, began half a century ago, fuck the aristocracy.
 
anatta said:
no shit Sherlock.
what you miss is we ALREADY HAD 3 INCREASES before the December one.

and that was done in what is essentially a bear market..FED couldn't design a better way to start a recession if it tried
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Capitalism has always repeatedly crashed, it's not a stable system, you'll be bailing out the Wall Street/donor/"job creator" class with socialism again soon enough.
 
AssHatZombie said:
you mean the corporatists/financiers see trump may stand up to them. freedom is not as predictable as totalitarianism.
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Stand up? Do you really see things that way? Do you remember Trump giving those people huge tax cuts? Not that long ago. Trump is slashing regulation for them. Trump will poison the air, land, and water to help those same people. Trump is absolutely not standing up to them. He is their presidential bitch.
 
Nordberg said:
Stand up? Do you really see things that way? Do you remember Trump giving those people huge tax cuts? Not that long ago. Trump is slashing regulation for them. Trump will poison the air, land, and water to help those same people. Trump is absolutely not standing up to them. He is their presidential bitch.
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absolutely. he pulled out of one of their wars. china isnt the sure bet it once was. more....
 
Nordberg said:
Yellen was the head of the fed and replaced by daffy with Powell. Trumps tariffs and international grandstanding are causing financial people to feel insecure about the future.
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Yellen was far too dovish and caved to Wall St and the Obama admin. She should have been raising rates for years. Yet she didn't.

Trump is an idiot. Powell is doing precisely what he is supposed to be doing. Wall St is throwing a fit because their margins are being squeezed. Trump is throwing a fit because the stock markets have been hammered. I do agree that Trumps public tariff comments are pathetic and are creating a sense of uncertainty (which the markets also hate).

That said, our economy is still strong. Strong GDP growth, low unemployment (though that is still in large part due to drop in labor participation), still tame inflation (though wage inflation should start to hit bottom lines next year).
 
Jarod said:
But who hired that guy, Powell... based on Trumps tweets, whoever nominated Powell to the fed should be removed from his job!
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Thanks for yet again displaying your ignorance.

Powell is doing the right thing. Who cares if you, Wall St and Trump don't like it. The big banks are throwing a fit because their margins are getting squeezed as short term rates are pushed up while longer term (especially the 10yr) are relatively flat to slightly down.
 
Jarod said:
False, who chose him? The Republican Senate only confirmed the choice!
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How can you possibly be so ignorant as to how this country is run?

The President appoints who he/she would like in the position. The Senate decides whether or not to hire the appointed person.
 
Fentoine Lum said:
Capitalism has always repeatedly crashed, it's not a stable system, you'll be bailing out the Wall Street/donor/"job creator" class with socialism again soon enough.
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LOL... take a look at Capitalistic oriented countries vs. say Socialist or Communist. There will be growth and pullbacks in each, but which has prevailed as the stronger player long term?

China has grown into an economic power ever since they got Hong Kong back from the Brits in 99. They still have a ways to go with transparency, but they have seen growth because of the opening of their capital markets.

India is also growing into an economic power. Same principals.

The US is an obvious example of what capitalism can achieve. Is it perfect? hell no. But it is far better than the alternatives.

Ask Venezuela, the darling of the far left a decade ago. Now it is in complete shambles.
 
Superfreak said:
How can you possibly be so ignorant as to how this country is run?

The President appoints who he/she would like in the position. The Senate decides whether or not to hire the appointed person.
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The Senate confirms the appointment, check the Constitution?


I’d be okay with firing the president who appointed him and all senators who confirmed.
 
Superfreak said:
Thanks for yet again displaying your ignorance.

Powell is doing the right thing. Who cares if you, Wall St and Trump don't like it. The big banks are throwing a fit because their margins are getting squeezed as short term rates are pushed up while longer term (especially the 10yr) are relatively flat to slightly down.
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Again... on this Garud... you are an idiot.
 
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