37
Why in Gods Green Earth is Trump getting rid of Powell and putting Warsh in place? (lemmy.world)
submitted 6 months ago by to c/outoftheloop@lemmy.world
20 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 34 points 6 months ago (5 children)

powell is in a position that has a term. he could be reupped which any sensible president and congress would do but trump clearly wants to drop interest rates to zero and print money. you know. the thing he rallied for in his first term that was the reason for the massive inflation they blamed on biden.

  • permalink
  • fedilink
  • source
  • hideshow 5 child comments
    •
  • [–] 14 points 6 months ago

    It's almost as if someone who is involved in real estate and utilizes loans to "grow" his business might benefit from this.

    But not Trump, he definitely never uses his powers as president to benefit himself and his family at everyone else's expense. Noooo not Trump. I mean Jesus hugged the guy so obviously he's not corrupt.

  • permalink
  • fedilink
  • source
  • parent
  • [–] 2 points 6 months ago (3 children)

    He wants negative interest rates as far as I know.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 3 child comments
    •
  • [–] 2 points 6 months ago (1 child)

    yeah thats pretty much the print money part. when they are negative and when we borrow from ourselves, which we do, well then you have to lose money for having it invested with us. Much of that self investment btw is social security and such. thats how you get negative.

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 3 points 6 months ago

    It is printing money but it's different.

    It's letting the banks print money, as much as they want. When the government go and prints the money directly, the banks also print some, but at least the government gets a small share of it.

  • permalink
  • fedilink
  • source
  • parent