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andym

(5,555 posts)

33. President's have a say. They appoint the Fed Chairman. Jimmy Carter ended stagflation

Reply to AZLD4Candidate (Original post)

Sat Aug 10, 2024, 01:02 AM

Aug 10

Not Reagan. How? By appointing inflation hawk Paul Volcker. Jimmy Carter knew that Volcker would attempt to raise the Fed rate to historic levels, which would cause economic pain and damage his reelection chances, but he did it anyway, for the long-term good of the nation. Volcker was appointed in 1979, but it took until 1983 for the tactic to fully work.

If Presidents like Trump could directly make Fed policy, they would act in their own perceived self-interest, harming the nation long-term.

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Donald Trump wants a 'say' in setting interest rates [View all] AZLD4Candidate Aug 9 OP

A lot of his debt is tied to the Prime rate underpants Aug 9 #1

Convicted Felon says what? FalloutShelter Aug 9 #2

Yeah, reduce it to negative numbers so depositors of savings accounts no_hypocrisy Aug 9 #3

I have a dream. DJT. twodogsbarking Aug 9 #4

Sure. Let the 6-time bankrupt convicted criminal have a say in what is possibly... SKKY Aug 9 #5

the fucking idiot will want to set them to zero for himself and his wealthy assholes but Javaman Aug 9 #6

This should be much bigger news. He also wants the executive branch to have the final word JohnSJ Aug 9 #7

Well as a dick tater Farmer-Rick Aug 9 #8

He'll only be a dick-tater on Day One FakeNoose Aug 9 #12

There is a reason for interest rates being set by a non-partisan board. surfered Aug 9 #9

If he is dictator he can do whatever he wants and he would, including executions. twodogsbarking Aug 9 #10

And people think the Fed is trying to get "The Boss From Hell" re-elected mathematic Aug 9 #11

Because of his extensive background, training, and experience in economics? Aristus Aug 9 #13

Bankrupt Captain Felonius is just saying that to CON his voters... Justice matters. Aug 9 #14

Ole What's his name BattleRow Aug 9 #16

Don't forget all the money from our taxes, slightlv Aug 9 #17

No. Just no. mwooldri Aug 9 #15

Gee ... What could possibly go wrong? KPN Aug 9 #18

So he wants to be like Turkeys President Erdogan? TomCADem Aug 9 #19

We All Want Things In Life. GB_RN Aug 9 #20

The MAGA idiots shouldn't be allowed a shred of power ever again. Initech Aug 9 #21

It's going to be over after the November election FakeNoose Aug 9 #30

when he loses in November the GOP will start calculating what he stole from the party Captain Zero Aug 10 #34

I think so too FakeNoose Aug 10 #35

Come on sharks, let him have it. twodogsbarking Aug 9 #22

Why the hell does this felon allowed to have a say onetexan Aug 9 #23

I'd like a 'say' in his upcoming criminal sentencing. n/t Harker Aug 9 #24

He pressured them to lower rates during his presidency IronLionZion Aug 9 #25

Manipulate the entire US economy solely for his personal benefit. Irish_Dem Aug 9 #26

Exactly. And as an Official Act of the President, any game he chose to play would be legal. Midnight Writer Aug 9 #27

He probably did this every day when in the WH. Irish_Dem Aug 9 #29

So, he wants to "dictate" interest rates? LudwigPastorius Aug 9 #28

Don't we all, Donald Doodoolittle! Brainfodder Aug 9 #31

What could possibly go wrong ? Iris Aug 10 #32

President's have a say. They appoint the Fed Chairman. Jimmy Carter ended stagflation andym Aug 10 #33