The classic Republican playbook of destroying a government agency from the inside out and then declaring that it is untrustworthy. Bessent is a vulture and if we lose the Fed to these people the USD and our economy as a whole will be in dire, dire straits.
GothamsTrader on
Bessent says Fed allowed inflation. Well, it did, by keeping rates too low for too long. What happens if rates are pushed lower than necessary again???
biglyorbigleague on
News flash Bessent: The Fed is not an elected branch of government and the people’s trust is not supposed to be a factor in its decision-making! The Fed is structured so that it can tell the people “no, you don’t understand economics, we do, and we’re doing what’s best in the long run rather than letting you crash this car.”
hankeroni on
Whenever an administration official has a quote along the lines of “The American People believe….”, you can swap in “the conspiracy-laden right wing information bubble” instead to understand both what they actually mean and who they are instructing.
In this case, the median american barely understands what the fed is. Anyone who does understand vaguely what it is also understands the importance of its independence and how the administration is undermining that for their own corrupt enrichment.
Own-Chemist2228 on
The Fed has always been a target for criticism. Remember the Ron Paul days?
Much like Churchill’s quote “democracy is the worst form of Government except for all those other forms” the federal reserve is an imperfect system, but there is no example of a better one. The simple fact is that the federal reserve has been around for a century, and that century in the US has been the most prosperous in any time and place in history.
But the real concern is that Trump and his henchmen are trying to destroy established institutions not to replace them with something better, but to replace them with something they exclusively control.
Ghostrider556 on
Jerome Powell & the rest of the Fed is more trusted than anyone in the administration and this is just some excuse to go try and mess with the Fed. What a moron
exodus3252 on
No, we haven’t lost trust in the Fed, you bootlicking prick.
We’re losing trust in the government because sycophantic con artists, like you Bessent, are sabotaging our institutions from the inside.
yrotsihfoedisgnorw on
I’m sure some Americans have but I’m not one of them. I have, however, lost trust in the Treasury and our federal government in general. Bessent is one of the more confusing players in this game. Dude made his name working for George Soros.
Robert_roberts82 on
The world where bitcoin serves as the global reserve currency is not a world anyone should want to live in. If they get their wish, my plan would just simply be suicide.
9 Comments
The classic Republican playbook of destroying a government agency from the inside out and then declaring that it is untrustworthy. Bessent is a vulture and if we lose the Fed to these people the USD and our economy as a whole will be in dire, dire straits.
Bessent says Fed allowed inflation. Well, it did, by keeping rates too low for too long. What happens if rates are pushed lower than necessary again???
News flash Bessent: The Fed is not an elected branch of government and the people’s trust is not supposed to be a factor in its decision-making! The Fed is structured so that it can tell the people “no, you don’t understand economics, we do, and we’re doing what’s best in the long run rather than letting you crash this car.”
Whenever an administration official has a quote along the lines of “The American People believe….”, you can swap in “the conspiracy-laden right wing information bubble” instead to understand both what they actually mean and who they are instructing.
In this case, the median american barely understands what the fed is. Anyone who does understand vaguely what it is also understands the importance of its independence and how the administration is undermining that for their own corrupt enrichment.
The Fed has always been a target for criticism. Remember the Ron Paul days?
Much like Churchill’s quote “democracy is the worst form of Government except for all those other forms” the federal reserve is an imperfect system, but there is no example of a better one. The simple fact is that the federal reserve has been around for a century, and that century in the US has been the most prosperous in any time and place in history.
But the real concern is that Trump and his henchmen are trying to destroy established institutions not to replace them with something better, but to replace them with something they exclusively control.
Jerome Powell & the rest of the Fed is more trusted than anyone in the administration and this is just some excuse to go try and mess with the Fed. What a moron
No, we haven’t lost trust in the Fed, you bootlicking prick.
We’re losing trust in the government because sycophantic con artists, like you Bessent, are sabotaging our institutions from the inside.
I’m sure some Americans have but I’m not one of them. I have, however, lost trust in the Treasury and our federal government in general. Bessent is one of the more confusing players in this game. Dude made his name working for George Soros.
The world where bitcoin serves as the global reserve currency is not a world anyone should want to live in. If they get their wish, my plan would just simply be suicide.