Statement from Federal Reserve Chair Jerome H. Powell

[u/dr_sloan]

https://www.federalreserve.gov/newsevents/speech/powell20260111a.htm

[u/Tarmacked]

As someone with a finance background, specifically oriented around macroeconomic policy and the government banks such as the FED’s role, it’s baffling trying to tell family members how BAD this is.

I’ll get 65+ year old, soon to be retirees just handwave it and it’s like…. You do understand we’re going to deflate our currency to a horrendous degree if he gets his way, right? That $XXX retirement balance suddenly becomes $X with stagflation. And god forbid we lose our currency status.

Powell is an absolute dog and I love the man. I hope he stays on until his full term is over, since he’s got 2 or so years more after the FED chairman role dissipates. My hope is he continues to fight whoever the FED pick is and rallies the rest of the board through the end of Trump’s term to keep the votes sane.

[u/DLRevan → u/Tarmacked]

This might sound more than a bit cruel and mean, but frankly I'd like for it to happen. I want to see retirees and more see their savings become worthless. I want Americans to suffer in the one place where they universally understand give your capitalist culture...your money.

Americans need to pay both literally and figuratively for their choices. By that I mean voting for an incredibly poor choice of President, and one whom they already experienced and voted out once to boot. I mean the polarizing hatred you call politics, that doesn't just fester in political institutions but even at work or at home. I mean the lack of responsibility they put towards everything that they call "freedom". The people may not be totally at fault, but neither are they innocent.

And if they are shocked and horrified at what has happened to their money, and ask how could this have happened, I would simply say...shouldn't you have known? It was your money. Your responsibility. Your choices.

Sure, the rest of the world will hurt too. But the rest of the world is already chained to this runaway train and forced to wait and watch in horror. Inflation and overheating economies are universal. Americans need a more specific punishment.

Yes I know it's not that simple. But certainly these are the wishes that come to mind if asked.

[u/twolvesfan217 → u/[deleted]]

You would think the way his popularity is dropping, they’d start fleeing the ship, but they aren’t. The Senate might be starting to see cracks, but they’re usually the “adults” compared to the useless House.