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Trump threatens Fed chair Powell with 'major lawsuit,' demands interest rate cut

Napoleon said:
You’re living in fantasy land if you believe the Fed isn’t tainted by politics. And it’s certainly no excuse for people and companies having no recourse when they are harmed by decisions made by the Fed.
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What are you claiming? You know Jerome Powell is a lifelong Republican and was appointed by Trump right? Just because he doesn't do what Trump wants, doesn't mean it's some politically motivated decision.

"Harmed by the Fed"....what does that even mean. I'm "harmed" by the Fed when interest rates go down and my savings rate goes down and inflation goes up, does that mean I can sue or seek recourse? How about if I want to buy a house and interest rates are high? The Fed mandate is both inflation and maximum employment. A lot of times those two things are going to require different things and it's a balancing act.

This is why MAGA has the reputation it has. Have you even thought any of this through or you just support whatever Trump says blindly?
 
iliveonramen said:
What are you claiming? You know Jerome Powell is a lifelong Republican and was appointed by Trump right? Just because he doesn't do what Trump wants, doesn't mean it's some politically motivated decision.

"Harmed by the Fed"....what does that even mean. I'm "harmed" by the Fed when interest rates go down and my savings rate goes down and inflation goes up, does that mean I can sue or seek recourse? How about if I want to buy a house and interest rates are high? The Fed mandate is both inflation and maximum employment. A lot of times those two things are going to require different things and it's a balancing act.

This is why MAGA has the reputation it has. Have you even thought any of this through or you just support whatever Trump says blindly?
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It's the same ole story. MAGA will turn on anyone who doesn't agree with dear leader. They could be Trump's long time best friend. It makes no difference. Loyalty goes in one direction.
 
Bucky said:

truthsocial.com

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.
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Luckily for Trump, we will likely get a rate cut next month.
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Looks like the big baby, felon, pedo is crying about not getting his way.

"whaaaaa whaaaaaaa whaaaaaaaaaa, I want to make all the rules!"
 
Napoleon said:
I’m not sure it’s right that the Fed can manipulate the economy in a silo shielded from all accountability and liability.
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They are mandated to "manipulate" the economy. They are supposed to balance price stability with unemployment.
 
uptower said:
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Jerome Powell is a life long Republican.

Trump appointed Powell.

Trump and the Republican party preys on the fact their base get their news from the same ecosystem and lack basic reasoning skills. Somehow in their minds Powell is a radical socialist hell bent on ending the Trump presidency.
 
Napoleon said:
Maybe the Fed should be civilly liable for the consequences of its decisions. 🤔
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HUH? !

Even if Powell bowed to Trump's wishes, it would likely backfire! The interest rate that matters to me and millions of Americans is the rate charged on longer term loans. Mortgage rates, for example, are pegged to the 10 year treasury. Bank loan rates are not going down if the banks expect inflation which most people pretty much anticipate considering the higher costs of inputs on goods and services coming down the pike.

So maybe Trump should sue the bankers?
 
By relenting to pressure from Trump, Powell invites buyers of those T-bills to worry about the soundness and independence of the Fed. If people slow the purchase of U.S. debt, the interest on 10 yyear Treasuries must go up to attract investors to buy a 'riskier' product.
 
Bucky said:

truthsocial.com

Truth Social

Truth Social is America's "Big Tent" social media platform that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology.
truthsocial.com truthsocial.com

Luckily for Trump, we will likely get a rate cut next month.
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Christopher Hitchens wrote a book about Clinton called No One Left to Lie to." I suspect someone will write a book about Trump called "No One Left to Sue."
 
Napoleon said:
Maybe the Fed should be civilly liable for the consequences of its decisions. 🤔
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That is a just a dumb thing to say.

So Trump vs actual economists who do you think a jury should believe?
 
Napoleon said:
You’re living in fantasy land if you believe the Fed isn’t tainted by politics. And it’s certainly no excuse for people and companies having no recourse when they are harmed by decisions made by the Fed.
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Your in the fantasy land territory here. Trump is the one pushing politics into this.
And the fact you trust Trump over real economists is just ****ing crazy.
 
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