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Do You Think the Federal Reserve Should Maintain its Independence?

Do You Think the Federal Reserve Should Maintain its Independence?


  • Total voters
    33

W_Heisenberg

Trade Representative of Heard and McDonald Islands
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Do You Think the Federal Reserve Should Maintain its Independence?
 
It probably should be independent, but it's academic debate at this point because the Fed is no longer independent. Nor will any aspect of the civil service, which collects and builds many other data streams on the economy. The Erdoganization of the economy is coming to American shores.
 
Do You Think the Federal Reserve Should Maintain its Independence?
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.
 
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.

So the solution is to make it overtly political.

If Obama or Biden had done this, you and every other "conservative" would be having a collective conniption.
 
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.

How do you see the "check and balances" working if the Reserve is not Independent?

imo, President Trump is trying to use the Reserve for politics now.
 
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No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.
Except that's exactly what's happening now. A US president pressuring the Fed to make rate cut changes is exactly what it means for this kind of organization to be used for political purposes. Added to that his the absurdly transparent efforts to change board members by creating reasons to remove some of them.
 
So the solution is to make it overtly political.

If Obama or Biden had done this, you and every other "conservative" would be having a collective conniption.
Neither Obama nor Biden would ever have to do anything because the Fed was politically aligned with both of them. That means your whataboutism is irrelevant nonsense.
 
Neither Obama nor Biden would ever have to do anything because the Fed was politically aligned with both of them. That means your whataboutism is irrelevant nonsense.

Right, and previous administrations didn't have to purge the CDC either because their scientists were aligned with those administrations. Come to think of it, they were all on the same page: decisions should be data driven, not fueled by belief systems.
 
How do you see the "check and balances" working if the Reserve is not Independent?
Congress should never create an institution or organization that is outside the government. That flies in the face of the checks and balances that are built into the Constitution. The Constitution says the legislature passes laws and that the laws are executed by the executive branch. The Fed should rightfully be part of the executive branch. And, according to the Constitution, all power within the executive branch resides in the President.

So, the checks and balances built into the Constitution would apply to what the President does with the Fed.

imo, President Trump is trying to use the Reserve for politics now.
shrug...

You are welcome to your opinion.
 
you are welcome to your opinion.

So, the checks and balances built into the Constitution would apply to what the President does with the Fed.
Interesting how the GOP has not had an issue with the Federa Reserve till Trump. They had over 110 years to change the law.
shrug...

You are welcome to your opinion.
thanks.
imo, Trump is wrong regarding trying to pressure the Federal Reserve.
 
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.
What's the opposite of 'independent'?
 
Yes, anyone voting no both does not understand modern economics nor understands the dangers of monetary policy left to the political whim of Congress and a President.

It would be galactically stupid to blend monetary policy, with what the government already does with fiscal and trade policy.

Just... absolute insanity.
 

One of the things Hugo Chavez did that destroyed Venezuela was firing about half his energy sector workforce, which were critical of Chavez's rule and tried to force a general strike to force an election. Venezuela, despite having among the largest proven reserves on the planet, now has to import oil, which is often of poor quality. The politicization of critical institutions often ends up in disaster. If Trump had really brilliant people waiting to take the reins, that would be one thing, but all he's got is a cavalcade of podcast guys and equity kings.
 
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.
Absolutely stupid ****ing answer that condones Trump’s hypocrisy.
 
What hypocrisy is that?
Do your own research. As a matter of fact, your first source is all of the Trump bullshit that you post.
 
No.

There must be some form of checks and balances over the Fed because it's too easy for such an organization to be use for political purposes.
As Trump is trying to do but can't because it is, and should remain, independent.
 
As Trump is trying to do but can't because it is, and should remain, independent.
Trump isn't trying to use the Fed for political purposes. He's trying to get them to support our economy instead of them using their power for political purposes.
 
So DJT politicizes the Federal Reserve, and the next presidential election (being optimistic here) sees a Democrat coming to the White House.

Are Trumpistas OK that the new president uses that politicization precedent?
 
Yes, it is extremely dangerous to have the president meddling with monetary policy. That's how you end up with hyperinflation like Turkiye.
 
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