The comments came after the Supreme Court indicated that President Donald Trump does not have the authority to arbitrarily fire Fed Chair Jerome Powell.
One of the things that had kept America’s economy stable and which invited foreign investment in the dollar had been the independent fed.
The Fed isn’t independent. Volcker and Greenspan should have disabused us of this notion 50 years ago. The central bank exists to benefit Capital and grow domestic profit.
What we have is a split within the bourgeois on what policy should be. Trump’s backers wants credit expansion at the expense of inflation after half a century of presidents demanding the opposite.
One of the things that had kept America’s economy stable and which invited foreign investment in the dollar had been the independent fed.
Was nice while it lasted. We’re in the long slide down now.
Things have felt stable but I just looked at USD vs EUR last night and were back down to pandemic dollar strength. The fall is precipitous.
Deutsche bank don’t think it’ll be long. They seem to be implying very hard and fast drop
The Fed isn’t independent. Volcker and Greenspan should have disabused us of this notion 50 years ago. The central bank exists to benefit Capital and grow domestic profit.
What we have is a split within the bourgeois on what policy should be. Trump’s backers wants credit expansion at the expense of inflation after half a century of presidents demanding the opposite.
That’s not a contradiction to them being independent.
Aw man, not the bourgeois!
If they’re beholden to private banking interests, they’re explicitly not independent.
Independent of the U.S. Government is the qualification here.
No one’s suggesting they’re independent of giant banks, GRU kompromat, or gravity.
Huh. .world and not .ml?
“Independent” doesn’t mean “caters to the lemmy commies”.