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gab13by13

(25,420 posts) Fri Dec 27, 2024, 08:58 AM 20 hrs ago

Trump v Jerome Powell

At Powell's recent press conference he used the word uncertainty 14 times. Powell is still concerned about inflation and Trump wants rate cuts.

If Trump follows through on his tariffs, if he follows through on his deportations, it will be fuel for inflation, and that was what Powell was looking at when he kept saying uncertainty.

Trump doesn't have the authority to fire Powell but that won't stop him. Powell's term ends in 2026, but can Trump wait that long?

More campaign promises that Trump made that are turning out to be losers.

Disclaimer/ I know shit about economics but I do know that Powell's last year may be rocky because of Trump.

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Trump v Jerome Powell (Original Post) gab13by13 20 hrs ago OP

Also remember that rates aren't set solely by the Fed chair Fiendish Thingy 19 hrs ago #1

Fiendish Thingy

(18,820 posts)

1. Also remember that rates aren't set solely by the Fed chair

Reply to gab13by13 (Original post)

Fri Dec 27, 2024, 10:37 AM

19 hrs ago

My understanding is the entire board votes on what rates should be each time they meet.

I don’t know if the chair has veto power, but the board definitely has a voice in the decision process.

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