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  • Powell says he would not resign as Fed chief if Trump asked for his resignation

    From cnbc.com

    Federal Reserve Chairman Jerome Powell said Thursday that he will not step down if President-elect Donald Trump asks for his resignation. When asked whether he would resign if asked by Trump, the Fed chair simply said: “No.” Powell subsequently told reporters that the president does not have the power to fire or demote him. “Not permitted under the law,” Powell told reporters at a press conference, after the Fed cut interest rates by a quarter percentage point. Investors will be closing watching the president-elect’s contentious relationship with the Fed chair. Trump appointed Powell in 2017, but repeatedly ... (full story)

These people should all be fired and let us go back to money oversight by Congress, not some private banking cartel.
the Kennedy family knows all to well how that would turn out.
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    Powell: One or two bad data months on inflation won't change the process

    From @PiQSuite|Nov 7, 2024

    post: POWELL: **THE STORY IS CONSISTENT WITH INFLATION CONTINUING TO COME DOWN ON A BUMPY PATH **ONE OR TWO BAD DATA MONTHS ON INFLATION WON'T CHANGE THE PROCESS **NO NEED TO BE IN A HURRY TO GET THERE post: Powell: This isn't a tight economy. A lot of the inflation we've seen this year has been catch-up inflation. post: Powell: "The right way to find neutral is carefully, patiently." He says the Fed is prepared to adjust its assessments of the appropriate pace and destination for rates as the outlook evolves. post: POWELL: **SO FAR NOT BIG EFFECTS ON US ECONOMY, BUT GEOPOLITICAL RISKS ARE ON THE HORIZON ALL THE TIME **PEOPLE FEEL NEXT YEAR COULD EVEN BE STRONG THAN THIS YEAR post: *POWELL: NOT PERMITTED UNDER THE LAW TO FIRE FED CHAIR

    Powell: For December FOMC, going to 'wait and see' where data lands

    From @MaceNewsMacro|Nov 7, 2024

    post: ED'S POWELL Q&A: FOR DECEMBER FOMC, GOING TO 'WAIT AND SEE' WHERE DATA LANDS #Powell #FOMC #FederalReserve #economy post: Powell: The statement changes weren't designed to serve as forward guidance. Removing language about "greater confidence" on inflation is characterized as a drafting step; it got rid of something that had been used to explain that the test for cutting, in Sept, had been met https://t.co/2V61v0KKVv post: POWELL: **IF NEW FISCAL POLICY IS PROPOSED, WE WOULD MODEL IT, STAFF WOULD BRIEF US, TRY TO GET SMART ON IT **ONCE A LAW IS CHANGED IT WOULD GO INTO THE MODEL, IT'S A PROCESS THAT TAKES SOME TIME post: *POWELL: DON'T NEED FURTHER LABOR COOLING FOR INFLATION MANDATE *POWELL: LABOR MARKET IS CONTINUING TO COOL post: *POWELL: AS WE APPROACH NEUTRAL, MAY BE APPROPRIATE TO SLOW CUTS

    Powell: In near term the election will have no effects on our policy decisions

    From @NickTimiraos|Nov 7, 2024|1 comment

    post: Powell: "In the near term the election will have no effects on our policy decisions." "We don't guess, we don't speculate, we don't assume" what policies will get put into place. post: POWELL: POLICY STANCE WILL MOVE TOWARD NEUTRAL STANCE OVER TIME || NOT ON PRESET COURSE post: POWELL: BOND RATES REFLECTING GROWTH EXPECTATIONS post: FED'S POWELL: THE OVERALL TAKE AWAY IS A SENSE THAT DOWNSIDE RISKS OF ACTIVITY HAVE BEEN DIMINISHED. post: *POWELL: INFLATION DATA WASN'T TERRIBLE BUT HIGHER THAN EXPECTED

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