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

Jarod, you have no idea what the Fed does. You don't understand what Bernanke and Yellen did with QE and you don't understand what Powell is doing now trying to unwind it
 
cawacko said:
Jarod, you have no idea what the Fed does. You don't understand what Bernanke and Yellen did with QE and you don't understand what Powell is doing now trying to unwind it
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I know Rump wants to fire him.
 
cawacko said:
Jarod, you have no idea what the Fed does. You don't understand what Bernanke and Yellen did with QE and you don't understand what Powell is doing now trying to unwind it
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well he's certainly "unwinding it" alright.. If it keeps up we'll "unwind" right into a freaking recession!
 
noise said:
well he's certainly "unwinding it" alright.. If it keeps up we'll "unwind" right into a freaking recession!
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Powell is doing the right thing and dealing with with the hand he was given. There was no easy way out of the years of QE and low interest rates. It's not something that can just be pushed off into the future. The stock market has been in a bubble and the response to that is not to increase artificial stimulus.
 
cawacko said:
Powell is doing the right thing and dealing with with the hand he was given. There was no easy way out of the years of QE and low interest rates. It's not something that can just be pushed off into the future. The stock market has been in a bubble and the response to that is not to increase artificial stimulus.
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I said many times that there is a price for QE and it looks like this is Obama's final gift to America.
 
cawacko said:
Powell is doing the right thing and dealing with with the hand he was given. There was no easy way out of the years of QE and low interest rates. It's not something that can just be pushed off into the future. The stock market has been in a bubble and the response to that is not to increase artificial stimulus.
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that's ridiculous to say 4 or 5 or whatever interest rate hikes in a year is "the right thing" as well as hiking rates during a Bear market.

sure rates need to be raised, but not at this excessive fast rate.
I think he just had a timetable and said "fuck the economy", for all the thought put into the hikes
 
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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you mean the corporatists/financiers see trump may stand up to them. freedom is not as predictable as totalitarianism.
 
Flash said:
True, he also nominated Gorsuch and Kavanaugh. Is Trump their boss?

Powell is only one vote out of 12 on the Open Market Committee and he cannot be fired from his 14-year term.
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Trump made inquiries last week about firing Powell... so he's not happy.
 
I don't think he will fire him, but the Fed rate increases -most especially this last one- was very bad for the economy
 
Prez names heads of independent agencies. Once in they are in they can be removed for incapacity, neglect of duty, malfeasance or good cause. Trump cannot fire him because he disagrees with what he does.
 
noise said:
that's ridiculous to say 4 or 5 or whatever interest rate hikes in a year is "the right thing" as well as hiking rates during a Bear market.

sure rates need to be raised, but not at this excessive fast rate.
I think he just had a timetable and said "fuck the economy", for all the thought put into the hikes
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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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