In early March, with an eye toward the damage that could be caused by the pandemic, the Fed slashed rates to zero, which also ended its main source of conflict with Trump.
But since the pandemic, the Fed chief has kept financial markets functioning, which could go a long way toward putting him back in the president’s good graces, along with his close working relationship with Treasury Secretary Steven Mnuchin. Even at the height of Trump’s broadsides against Powell, GOP lawmakers repeatedly complimented the central bank chief for maintaining a commitment to Fed independence, a reference to its freedom to stress long-term policy over short-term politics.
The central bank has moved to give those institutions more leeway to make risky trades and more advance information about tests that examine their preparedness for severe recessions, although it has not been as aggressive in deregulating as many Republicans would like. But Powell, who was appointed to the Fed board by President Barack Obama in 2012, also stuck by Fed Governor Lael Brainard, the last remaining Democrat on the central bank’s board, when she refused to go along with fellow bank regulators in overhauling rules under the Community Reinvestment Act.
This usually means he balked at illegal and/or unethical orders.
I’d fire him if I were president
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Fed's Powell says central bank committed to using all tools to help recoveryThe Federal Reserve remains committed to using all the tools at its disposal to help the U.S. economy recover from the blow delivered by the coronavirus pandemic, Chair Jerome Powell said on Monday. This guy has said this 100 times. We know. Who cares? So negative interest? Loaning you’re zombie corporations? Buying their bad debt? Same old tune, same result. Try doing for the consumer instead. Do something so older people can go ahead and retire. Or young people can get out of school debt. Start some public works programs. This means more free Helicopter QE Stimulus money for Wall Street Markets thru Asset Purchases of ETF/Corporate (Junk) Bonds. This just Increases Govt Debt and Deficit. Global Asset Mgr's say Japan tried this for years. It Didn't help their Economic growth just Debt balance sheet
Source: Reuters - 🏆 2. / 97 Read more »
NYPD Officer Spied on Tibetan New Yorkers for Chinese Government: FedsA New York City police officer was arrested Monday by federal authorities, who say the cop has been secretly working as an agent of the Chinese government for the past six years.The accused officer, Baimadajie Angwang, 33, is a community affairs liaison at the 111th Precinct in Queens. He is a former The democrats running the NYPD need to go. Those NYPD officers dont even relaize that working for CCP they and their families are now exposed and could be organ harvested if they travel anywhere outside the US now. CCP plays dirty and punishes failure.
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Push is underway to test COVID-19 vaccines in diverse groupsCompanies are struggling to recruit diverse volunteers in final U.S. tests of possible COVID-19 vaccines. They’re all too busy peaceful protesting. You mean most people dont buy the covid scam anymore and wouldnt risk their health to give Bill Gates money. Ummm... Why do volunteers have to be diverse? Aren't volunteers just supposed to be there to help whomever?
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America’s farmers face multiplying pressuresCalls to Farm Aid, an American non-profit which runs a helpline, surged by 109% year-on-year in 2018. By June this year, calls were up by another 30% on average I have no sympathy whatsoever for Trump loving farmers searching for Socialist handouts. Sell the farm if you need to, Trump sold you out with his tariff fiasco. They need to send the animals to vegan sanctuaries and start farming plants. And yet - they'll still vote for the guy whose policies do nothing but amplify those troubles.
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UK Considers Another Lockdown As Cases Projected To Hit 50,000 Per DayThe UK is considering another lockdown as cases are projected to hit 50,000 per day RT To RealDonaldTrump i don't think they can do another 'lockdown'. probably just increased restrictions for drinkers diners and socialites. not sure how much that will slow it, possibly not enough to keep it within what they can measure
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Neko Case Announces Pair of Outdoor Concerts in New EnglandNeko Case has announced two outdoor, socially distanced shows in New England for this fall Take me to this place🙏🏾
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