The Most Fresh & Cordial Political Thread Ever

[SunnySide]

Originally Posted by Chico23231

Ha, I understand fairly well.

Man, imagine the brainworms it takes to think a democrat run house and Biden run White House isn’t responsible for inflation. Lol. Major economist larry summers (Obama guy) and Mohamed El-Erian (world renowned) have each documented the polices, immense federal spending, energy polices, etc of the last two years which lead to where we are. Unfortunately when you deny inflation is happening like the administration did, it allows it too get worse.

And even Biden’s own Janet Yellen has come out and apologized for their mishandling of inflation…so they have admitted it. You gotta raise interest rates and at the sametime cut spending. Biden should have raised interest rates 8 months before he did and overspent with democrats only back bills.

Also energy prices are a driver…and he went green new deal: raised taxes on producers, imposed regulations, stopped leases and permits, ended pipelines, blocked pipelines, etc.

This is only Biden’s and democrats making.

However, in nominating the 64-year-old Powell, Trump is breaking with decades of presidential tradition by not retaining the current Fed chair: Barack Obama kept Ben Bernanke, Bill Clinton stayed the course with Alan Greenspan, and Ronald Reagan renominated Paul Volcker.

https://www.nbcnews.com/business/eco...-chair-n816771

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Does the President Have Power Over the Fed Chair?

The President has some power over the chair, but it isn't direct. The President nominates the chair and is permitted to be vocal about the direction of the Fed, but the President cannot direct the Fed to raise or lower interest rates. Members of the Board of Governors of the Fed serve 14-year terms, which obviously has some presidential overlap and keeps the Board independent.

https://www.investopedia.com/article...sibilities.asp