Federal Reserve Chairman Jerome Powell said in an interview aired Sunday that he does not think he can be fired by President Donald Trump.
While continuing to avoid direct comment on the president’s withering criticism of central bank interest rate policy, Powell told CBS’ “60 Minutes” that Trump can’t remove him from office.
“The law is clear that I have a four-year term, and I fully intend to serve it,” Powell told the news magazine show. Asked directly if he thought Trump could fire him, he said, “no.”
She is right, theoretically and historically, about the Federal Reserve. The rest is rubbish not even worth a quote. It’s even scaring the traditional Stalinista Dems. However! Ordinarily, this is the kind of thing the left would keep pushing and, given enough time, would eventually get passed to a large degree.
The great news is that there’s simply not enough time to give. Socialism only takes off (gotta fly to crash) when a nation is strong, healthy, and rich. Depression, civil war, and dissolution will probably force these plans on hold at least long enough for the climate alarmism hoax and the rosy, friendly, we’re-gonna-do-it-right socialism lies to become obvious to even the dumbest survivors.
And the end of the Fed’s games (and maybe of the GOP):
He’s right about everything. Conservatives please note, if Trump doesn’t build the wall and drain the swamp, NOW, he’s done and the idiotic Amerikan sheep will fall hard for impossible socialism. One thing leads to another.
President Donald Trump slammed the Federal Reserve as “going loco” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.
Trump said in a telephone interview on Fox News late Wednesday night the market plunge wasn’t because of his trade conflict with China: “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous.”
“That’s not the problem,” he said of the trade standoff. “The problem in my opinion is the Fed,” he added. “The Fed is going loco.”
Channel that inner Ron Paul, MAGA Man! We need no loco banqueros. End it!
The cost of living in the U.S. is rising at its fastest rate in 10 years, according to new data from the Labor Department.
The data, released Friday, revealed that consumer prices increased 2.9 percent in July from the year before, meaning Americans may be earning less than they did at this time last year.
The consumer price index, meanwhile, rose 0.2 percent last month, which analysts largely attributed to rising housing costs, CNBC reported. Annual inflation remained unchanged from June’s pace at 2.9 percent.
If only there was some private consortium of bankers we could pin this phenomenon on, excluding food and gas, of course – no one needs those…
The U.S. central bank has raised rates twice this year, in March and June, and financial markets overwhelmingly expect a hike at the next policy meeting in September.
The Fed currently forecasts a total of four rate rises in 2018, with investors expecting a final nudge upwards of the year in the benchmark overnight lending rate in December.
In the interests of honesty and reality, the man should change his name to GoodFIEND. He seriously advocates robbing the people of their money and forcing them into servitude to the criminal banksters. He’s also nominated by the Trump to the Federal Reserve Syndicate.
Trump Federal Reserve Board of Governors nominee Marvin Goodfriend reportedly advocated on two different occasions the elimination of cash from circulation in an effort to prevent individuals from hoarding cash in the event that the Federal Reserve were to push a negative interest rate policy during a financial crisis.
The Mises Institute notes that Goodfriend first floated the idea in a 1999 paper called “The Case for Unencumbering Interest Rate Policy at the Zero Bound” and again promoted the concept at a 2016 Federal Reserve conference in Jackson Hole, Wyo.
Goodfriend reportedly said that the Fed needs the option to push interest rates negative, which would cause consumers to pay fees in order to keep their money in savings accounts, and that cash should be eliminated to prevent banking consumers from pulling their money out of banks to avoid paying those fees.
Bloomberg notes that Goodfriend suggested a few theories for how to phase out cash. He floated eliminating large bills to make cash less convenient. He suggested that the Fed charge banks and/or consumers fees for issuing paper currency. He advocated that the issuance of cash be taxed such that consumers only receive 90 cents when withdrawing a dollar. He also called for abolishing cash outright. The Wall Street Journal notes that Goodfriend additionally suggested that cash bills should contain a magnetic strip so they can be scanned and tracked as they move through circulation.
Word has it he will even graciously allow singing in the fields.
I really like Donald Trump. I like the idea of America, America first even. I like my swamps drained. But I wonder sometimes why a man, nominally at war with the NWO, keeps nominating one swamp rat after another. We shall write this off as 19-D chess or whatnot.
Anyway, the criminal banksters have already achieved real negative interest rates. That barrier proved just as easily broken as the one associated with 767.3 MPH. It’s a convenient mechanism to boost the already steady supply of funny money. Here’s, in brief, how it works:
Congress authorizes debt spending, money created from nothing. The Fed digitally prints even more fake currency. They loan that surplus crap to the commercial banking criminals at a negative interest rate, adding even more fiat elasticity. The big banks loan it to smaller banks, funds, and credit companies at a flat or marginal rate. The smaller bank deals with a credit card bank at friendly, discount terms. (All along the way, money is passed with either little cost, no cost, or an actual bonus). The credit card bank kindly loans you the fake money – at 19% interest. You have to pay that back, via the sacrifice of part of your life and livelihood. You are literally the only party in the chain that has to contribute something real to the cycle.
That’s the loan side of negative rates. For savers, it means that the bank that holds your money no longer has to pay you anything for the privilege of the holding and use of your hard-earned cash. In fact, under this plan, you will have to pay them a fee to keep your cash. You will have no choice in the matter. This is also known as robbery.
This plan, when (when not if) implemented, will be sold to the gullible public as a measure of safety and convenience. Something about fighting terrorists or feeding whales or feeding whales to terrorists or anything else they think 95 IQ teevee watchers will fall for.
What this all amounts to is a desperate scramble by the globalist elites to grab just a little more real wealth and control as their new hellish world heads south. This is kind of what the Pope was eluding to the other day, in flowery, economically vacuous terms. These wise, central planners are literally planning to force the people into conditions to shock a Roman peasant. The people, by and very large, for their part, pop pills, eat a lot of sugar, and contemplate new tattoos. Not all of them.
Today, millions of Americans are headed to the polls to make their voices heard, make their votes count. Rest assured that whichever Uniparty dipshit you endorse today, he is deeply educated about this brewing danger and surely has a ready plan to combat it.
(Hang on a second. I laughed myself off my chair).
Okay, seriously, there is a solution to problems like this. Honest solutions. Appropriate solutions.
All of these schemes, these dread issues of modernity – the banking fraud, the debt, the hands-free laws, the pitiful schools, the “refugees,” the rancor, the violence – all of it is connected. People elsewhere are slowly waking up. The Italians will probably leave the EU within a year. The Swiss and the Swedes are preparing for war. The Hungarians and the Polls are firmly saying, “No!” to more globalist “help.” Will you, the Trump, and the rest of the US join them?
Federal Reserve policymakers see an economy that may be past full employment, financial market prices that are high and overall growth that continues to gather steam.
Those conditions remain appropriate for further interest rate increases, though inflation pressures remain fairly muted for now, according to a key report to Congress the central bank released Friday.
The monetary policy report provided a wide-ranging view of conditions for new Chairman Jerome Powell, who took the Fed’s reins earlier this month. Powell will present the report along with remarks during congressional testimony Tuesday.
“The FOMC expects that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and labor market conditions will remain strong,” the report said, echoing language from prior Federal Open Market Committee meetings.
Translation: We still have absolutely no idea what we’re doing but things seem well regardless.
I sincerely hope this Friday afternoon finds you well.
Janet Yellen issued her final official interview as Fed Chairman: Lil High...
Janet Yellen ended her long career at the Federal Reserve with concerns over how high the stock market has surged under her watch.
The S&P 500 has soared 315 percent since the March 2009 bear market lows and about 53 percent since she took over as chair of the central bank in 2004.
Yellen said in an interview with CBS News that market valuations are the source of some concern as she headed into private life following a 14-year Fed career, the last four as the chair. She spoke as the market finally took a breather from what has been a breathtaking move higher, with the Dow industrials falling 666 points Friday.
“Well, I don’t want to say too high. But I do want to say high,” she said. “Price/earnings ratios are near the high end of their historical ranges.”
In addition to elevated equity prices, Yellen also said commercial real estate is “quite high” compared with rents.
Irrational exuberance is what it’s called. Hype and craziness not backed by reality. Stocks too damned high!
Aunt Yellen speaks. 666. Not liking where this is going…
Says she’ll now devote more time to her monkeys… Freaking News.
But not to worry – another wise, Creature-approved acolyte of economic deception will be along Monday… The interests of the bankers are in good hands. And, it’s really them that matter the most, right?
The three richest people in the US – Bill Gates, Jeff Bezos and Warren Buffett – own as much wealth as the bottom half of the US population, or 160 million people.
Analysis of the wealth of America’s richest people found that Gates, Bezos and Buffett were sitting on a combined $248.5bn (£190bn) fortune. The Institute for Policy Studies said the growing gap between rich and poor had created a “moral crisis”.
In a report, the Billionaire Bonanza, the thinktank said Donald Trump’s tax change proposals would “exacerbate existing wealth disparities” as 80% of tax benefits would end up going to the wealthiest 1% of households.
“Wealth inequality is on the rise,” said Chuck Collins, an economist and co-author of the report. “Now is the time for actions that reduce inequality, not tax cuts for the very wealthy.”
The study found that the billionaires included in Forbes magazine’s list of the 400 richest people in the US were worth a combined $2.68tn – more than the gross domestic product (GDP) of the UK.
“Our wealthiest 400 now have more wealth combined than the bottom 64% of the US population, an estimated 80m households or 204 million people,” the report says. “That’s more people than the population of Canada and Mexico combined.”
The report says the “billionaire class” continues to “pull apart from the rest of us” at the fastest rate ever recorded. “We have not witnessed such extreme levels of concentrated wealth and power since the first gilded age a century ago.”
David McNew/Getty/The Guardian.
This isn’t a piece on class envy – at least not mine is not. Who knows what the trained squirrels at the Guardian were up to. If this money were earned honestly, then there would be no problem, regardless of any “inequality”, real or fancied.
Some, many of whom are hoarse from howling at the moon last night, might propose to seize all of this wealth and redistribute it. Unlike Scrooge McDuck, these three real characters do not have $250 Billion in gold coins and cash in the basement of some mega mansion. It’s (almost all of it) invested in their companies and earning more money while created goods, jobs, and services. It’s not liquid. Taking it would collapse a sizable portion of the economy. Killing the goose … all for $1,500 per poorer half class member. Once…
Stick to the helpless screaming, SJWs.
The rest of you know I am (mostly) concerned with the truth. So, what is the truth behind Gates, Bezos, and Buffett?
Bill Gates became filthy rich by selling software. My perspective dictates the products are second-rate at best, a bill of goods bought from a high-class carny. Yet they remain extremely popular. The people get what they think they want. Gates gets richer. Okay.
Bezos runs Amazon. Some say this business is a modern monopoly, responsible for killing all the bookstores of the world. I have a vested interest here. Periodically Amazon sends me money for book sales. The checks are small but they do come. Thus, in my view, Saint Bezos and his beautiful creation can do no wrong. I wish them success as this directly benefits me. If you don’t like that, then you probably don’t read and, therefore, don’t really have a dog in the fight. Bugger off.
Buffett is held forth as the ultimate investor. Making and creating Billion$ while humbly living in the same small house for 50 years, the paragon of Wall Street virtue. That’s part of the truth.
The other part involves his direct manipulation of the economy. Watch the following video for a funny analysis of how this works (a cartoon, no less – for the people!):
Malekanoms/YouTube.
First, for the ardent pendatrists, consider the cloud cover in the cartoon. How is that consistent with the digital trees??? What say your television shows?
Now. If you happen to consider the substance, then know this: what Buffet and a few others do is not technically illegal. It should be as should be the whole central banking scheme. However, since we’re past the days of the law, why not make money (take money) from the existing corrupt system?
That’s where the problem lies. And howling at the moon, beating the bongos, and voting will not fix it.
President Donald Trump nominated Jerome Powell to run the Federal Reserve once current Chair Janet Yellen’s term expires, in a move widely expected and one unlikely to disturb the roaring stock market.
Trump made the announcement during a Thursday afternoon ceremony in the Rose Garden.
The move follows an extended period of speculation over who would be named to head the central bank, whose aggressive policies have been considered central to a climate of low interest rates, surging job creation and booming asset prices.
“Today is an important milestone on the path to restoring economic opportunity to the American people,” Trump said with Powell standing to his right and the prospective chairman’s family nearby. The president said the Fed requires “strong, sound and steady leadership” and Powell “will provide exactly that type of leadership.”
“He’s strong, he’s committed and he’s smart, and if he is confirmed by the Senate, Jay will put his considerable talents and experience to work leading our nation’s independent central bank,” Trump added.
