Might work to compromise the independence of the fed, not necessarily seize all rate setting authority. Frankly it sounds like the kinds of autocrats who advised Trump on overturning the ‘20 election. He’d try to fire Powell, who he attacked mercilessly in term 1 for not promoting Don’s political prospects by slightly raising rates and then not lowering them enough. He might not be able to, and he might have to find a stooge to serve as his puppet as chair, not being able to be the chair himself. He’d also get lots of pushback from repubs who get the importance of separation of powers, checks and balances, and shields between politics and monetary policy. One comment predicts markets would become so unsettled that Trump would back off.

It’s a little hard to know what Trump will truly pursue, he’s got so many distressing plans about sucking power into the exec branch, pursuing retribution, blowing through checks and balances. It promises to be quite the roller coaster, if it happens. This one specifically - sounds like an effort to Make America Turkey For the First Time.

I just listened to a little of Biden on Howard Stern. He sounds a little like Vito Corleone at the end of Godfather 1. His enunciation and timber leaves him sounding frail. It worries me, because the other option has a vision in mind when he says he’ll be a strong leader. His vision is eliminating as many checks on his power as he can get away with. So, in a democracy, the word slurrer continues to be the clear lesser evil.

[Post edited by hoolstoptheheels at 04/27/2024 09:06AM]