• DaddleDew@lemmy.world
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    3 months ago

    The idea behind lower rates is to promote investment. But investment is being severely discouraged by the absolute dumpster fire of a political environment the country is in right now where nobody knows if a “good” investment will suddenly turn into a terrible investment at the whim of the irrational toddler in charge. As a result, lowering the interest rates would most probably do nothing more than promote inflation. Powell knows that and this is why he refuses to lower the rates.

    The president throwing a tantrum and trying to pressure a position that can only properly do its job of regulating the economy if it is shielded against political influence will only push investors away even more.

    Buckle up Americans, looks like a great depression is coming. And it was entirely manufactured by your president’s incompetence.

    • Revan343@lemmy.ca
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      3 months ago

      Buckle up Americans, looks like a great depression is coming

      So that’s what all the MAGA idiots are going for

    • Wilco@lemm.ee
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      3 months ago

      No, this is not incompetence, it is insider trading. They had a plan with tariffs and made their money. When Trump finally falls the people that raised up that useful idiot will all get to keep the insider trading money they made by yo-yo’ing the economy.

      • jacksilver@lemmy.world
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        3 months ago

        The issue the OC is talking about isn’t something you can just walk back and take your winnings. Owning the husk of a once great economy isn’t really a great outcome.

        I don’t think anyone understands that if he ousts Powell/gets his interest rate lowered, we’re looking at a depression or worse. That kind of economic crisis has the potential to ruin literally anyone, including the wealthy/elites.

        • mriguy@lemmy.world
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          3 months ago

          I don’t think anyone understands that if he ousts Powell/gets his interest rate lowered, we’re looking at a depression or worse.

          Um, I think everyone except his hardcore followers understands that.

          • jacksilver@lemmy.world
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            3 months ago

            If that were the case he wouldn’t be in power anymore. Either enough people don’t understand or don’t believe it.

            • CharlesDarwin@lemmy.world
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              3 months ago

              Many cowards in the Republiqan Party. Also a whole lotta stupid people more engaged in their stupid identity politics who have the mantra of “any criticism of donvict is because someone just has ‘trump derangement syndrome’ and something something argle bargle DEI”.

  • vegeta@lemmy.worldOP
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    3 months ago

    He’s going to blame Powell for the recession/depression, and the sheep will baaaa in unison.

    • givesomefucks@lemmy.world
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      3 months ago

      Someone tried telling me the other days interest rates won’t go down because that would be a stupid move…

      That’s not going to factor in Trump’s decision at all, either Powell caves or trump seizes more control and Republicans refuse to stop him.

  • thorhop@sopuli.xyz
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    3 months ago

    Wow, he’s doing what Putin wasn’t stupid enough to do. But the question is: are the republicans stupider?

    • floofloof@lemmy.ca
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      3 months ago

      Who could have known that firing a quarter of a million federal employees while making it impossible for industry and commerce to function and kneecapping new energy developments would increase unemployment? No one knew economics could be so complicated.

  • kreskin@lemmy.world
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    2 months ago

    If I were Powell I’d tease him about it. Demand Trump lower tarriffs that are wrecking the economy. Tell him to go ask Trtumps boss Putin if thats ok.

  • gravitas_deficiency@sh.itjust.works
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    3 months ago

    It’s funny that he’s yelling at Powell for something that Japan, Canada, and the EU are doing. This is a strategically coordinated (and imo fully justified) retaliatory fiscal policy being enacted by our (former) allies in direct response to our apocalyptically idiotic tariff policies. This is the Find Out part.

    • phdepressed@sh.itjust.works
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      3 months ago

      This is a relatively gentle “find out” from them too. If they decide to actually be mean we are super boned and 2/3 of the country will deserve it either for voting for it or for not voting against it. It’s only fucking April and we have to make it to January for the next congressional session…

      • Ensign_Crab@lemmy.worldBanned from community
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        3 months ago

        This is a relatively gentle “find out” from them too.

        Well, the US is majority-white.