Fed indictments
Was trying to watch the playoffs and I saw the DOJ served subpoenas to the FED alleging they lied about a headquarters renovation. Absolutely wild and hopefully nothing comes of it.
There doesn't appear to be any credible information or reports in the WSO dataset or general knowledge about the Federal Reserve being served subpoenas by the DOJ over allegations related to a headquarters renovation. It seems like this might be a misunderstanding or misinformation. The Federal Reserve, as an independent central bank, is typically not involved in such controversies.
If you're looking for updates or clarity, it might be worth checking reputable news sources or financial forums for verified information. Let me know if you'd like help finding reliable resources!
Sources: https://www.wallstreetoasis.com/forum/real-estate/nate-paul-arrested-by-fbi?customgpt=1, Payback: From Michael Milken to HFT, That Hertz | The Daily Peel | 11/3/21, Trump in trouble, Drunk Trading? | The Daily Peel | 8/20/21
The retardation of this administration knows no limits
del
Jpow's term is up in May and the corrupt orange idiot and his goons couldn't wait even for that.. need low interest rates now!!! Are the usual suspects going to come out in defense of their daddy here?
This is honestly a bit disturbing. This is 100% because Trump didn't like their interest rate policy. We need an independent Fed and this is a political move to make it not independent.
If the executive branch can influence Fed policy we are screwed. Either it stays independent or it needs to go, simple as that.
Pure insanity.
Can’t wait for our resident MAGAs to come in and try to justify this.
This administration is so fucking incompetent and dangerous.
Incorrect username for this take
Following so I can see PrivateTechEquity give the most smooth-brained response
In b4 Somalian day cares
In b4 "I voted for Trump, but I didn't vote for this!"
"History will always remember the moment Trump’s DOJ finally boot-kicked the vault door of the Federal Reserve to expose the Somalians, Mexicans, and reptile-men who’ve been quietly liquefying the nation’s future and piping it into secret geothermal warrens beneath fake news media stations. And if the so-called libs (read: terrorists) whine that it’s an abuse of power, that’s just because they know what comes next: the ledger where every Biden interest-rate meeting was paid for preemptively with Mar-a-Lago Ballroom Coin and autopen-signed promises to look the other way while Hunter Biden used DJT Ballroom Bucks to rig the economy for the rich and not the common man like Donald J. Trump (6'3", 224 pounds, ripped). These subpoenas are the first essential strike against a government that’s spent decades rotting from the inside (Jan 6 didn't happen and was also an inside job)."
-PrivateTechEquity
He usually only comments on these types of threads to call somebody a leftoid and say they have TDS before dipping.
The problem with running intellectual air cover for a movement that consists of the whims of sub-80 IQ individuals is that eventually their retarded policy decisions become impossible to defend to an audience that even remotely understands the subject matter. That hasn’t exactly stopped him before (see the incoherent nonsense he’s brought up on the tariff threads), but he can’t possibly defend this without outing himself as completely financially illiterate and incapable of stewarding LP capital, which I’d argue he’s already proven long ago.
I guess thats one way to change the subject from Trump protecting Epstein
Well with Venezuela last week and maybe Iran soon, I haven't heard a peep about the Epstein files now for a little while. Jumping from shocking news to shocking news to shocking news has been a really effective strategy for Trump in his entire political career as the MSM can't keep up
I didn't have uniting Yellen, Bernanke, and Greenspan to back Powell on my 2026 bingo card, but here we are, to top that unification of Tillis and Warren is that a free bingo block on the card?
Strongly oppose this. Fed independence MUST be preserved
Any 2024-voting MAGAs tired of this shit? Genuine question if you are - at what point did you finally change your mind?
Not MAGA, as Trump is actually MIGA. But yeah, it's awesome. I usually don't vote, but this is great. And at least 250th birthday of this country will be huuuge. I can only imagine the trans, black, America Indian, White man evil bull that would have been paraded around had the Dems taken the helm for this great nations 250th birthday? eech, blea. Not enough bleach for my eyes.
I wonder if Trump thinks Jerome Powell unilaterally decides to increase or cut rates.
Where are the WSO resident? @PrivateTechquity 🚀🚀🚀 @Dr. Rahma Dikhinmahas @Corp_titan @Fjsjrjdns
I want to see how they contort their tiny brains into convincing themselves that this is the best economic policy for America and will set a great precedent for the future. Or are they going to play the Biden card and blame Biden. These people can convince themselves of anything. It's hilarious to watch and fascinating to know that not only do these types of people actually exist, but they also manage investor capital. RIP their investors lol
DEL
Love the random callout from the resident politico-obsessed ne'er-do-well. This you? No interest in engaging with genuine mental illness thnx, hope you get the help you need though!
How does that poster thinking Kamala beat Trump in a debate make you less of a dumbass?
Is the best comeback you could come up with really "nuh uh, you're a liberal and that means you're mentally ill?"
This you? LOL
And there it is, the great deflection. This is exactly why I poke and prod. At a certain point, Trump's policies and behavior becomes so ridiculous and indefensible, even his most loyal idiots can't defend it and thus are faced with cognitive dissonance.
You can't defend him, so you deflect. You stamp your feet, call me a libtard, and claim that I am not worthy of debate. But the reality is that there is no debate. You simply have no defense, but rather than admit that Trump is in the wrong here, you will bury your head in your pillow tonight and continue to scream "I LOVE TRUMP" at the top of your lungs
Hey man, think you forgot about me.
I did, sorry
Del
This might genuinely be the most pathetic thing I have seen on WSO.
"Guys, guys, don't forget about me! I'm retarded too! Insult me please! I exist!"
To be fair, I’ve seen at least one of them have smooth brained takes on other non-political topics as well. It’s a persistent trait
tRump has been using slap suits and bullshit legal tactics to try and scam people for decades. Thing is, he's not used to fighting the federal government with unlimited budget and access to power....and public scrutiny. Then he comes out the same day and announces he had nothing to do with it before anyone says anything: he clearly ordered it. Obviously traders are all piling in because they know the next FED chief trump proposes is boing to be one of his trained monkeys that does whatever he says, and rates will go to zero. But everyone else knows this is just going to set up the next financial crisis.
I made a prediction when trump first came into power in 2016: that he would be such a disgrace that he would permanently blow up the republican party and conservative movements. He would be such an obvious failure and so transparently hateful of the American public while enriching himself and his stooges, that it would turn America forever towards Social Democracy. Now we see millions upon millions of trumpers saying they would have voted for Bernie, the left is roaring ahead in early elections, and NYC has an openly EU style Social Democrat as mayor...all while democrats turn on the likes of Kamala the zionist, Gavin the trust fund kid, and Schumer the fucking corporate whore. We could have been like Switzerland, instead we'll be more like Germany. I'd wager that Tim Walz will be president in 2028 and have an openly socialist running mate. If I can find the link I'll share it.
Rates are set by majority vote. Fed chair can't unilaterally decide. And nearly every board member is rational (outside of Miran and the future Fed chair). So it's highly unlikely that rates go below even 2%, let alone 0. My guess is that we get max 1-2 more rate cut and they stop
This except he's been pressuring other FED governors as well and the pressure won't stop. Rates are already too low, every additional cut is just inflating the everything bubble to the next class of catastrophic.
But the problem isn't where rates end up. It's the erosion of the independence of the Fed that matter. Just like most of what Donald Trump is, has, and likely will do, the individual act isn't as meaningful as the aggregated weight and intent of all of them put together.
For example, when he deported or cracked down on the speech on pro-Palestinian protestors and students, lots of people on this site cheered. My guess is more than a few of them will be very displeased by Mr Trump asking universities to provide his administration with lists of Jewish students, staff, and alumni. Because once you give the kind of neo-Nazi garbage that Mr Trump supports. embodies, and empowers the right to cleanse one type of "undesirable" they're gonna start doing it to the others, too.
This isn’t just about a building renovation.
The DOJ going after the Fed — and potentially Powell — fits into a much bigger political pressure campaign. Trump has been openly demanding aggressive rate cuts for months, publicly attacking Powell, and pushing for cheap money regardless of the inflationary consequences.
Forcing Powell out through investigations would effectively politicize monetary policy. That’s not bullish — that’s a threat to Fed independence, which is one of the pillars behind USD credibility.
Pushing rates down artificially would drive inflation through the Cantillon effect, where newly created money benefits asset holders first while eroding purchasing power for everyone else. And more broadly, it runs straight into the Triffin dilemma: a reserve currency has to be supplied to the world, but oversupplying it undermines its value and trust.
So while the renovation story sounds trivial on the surface, the real issue is whether this is being used as a lever to control the Fed. That’s what actually matters for markets.
Not to mention it would erode trust in the dollar. If people think the dollar will go down in value or their prices will go up, they dump cash or buy stuff. It starts a self fulfilling loop that ends with a forest fire, and usually the only person that can calm that fire is the fed. But if people don't trust the fed, then the loop continues.
“This isn’t just this — it’s that” AI slopmode
Listening to the FT podcast on this, I take away a point one of the hosts made, when they said something to the effect of "This will permanently stain whoever comes after Powell, in the minds of other Fed members and the market"
Honestly, I was a little shocked to come in Monday and not see the rates market in a freak the fuck out mode. Only gold really reacted negatively in the initial shock, and it seems like the markets are more focused on bank earnings and the inflation reading than the attacks on the Fed. Talking to others, it seems like the common sentiment is that nothing will come of it and this is just Trump flailing around what little authority he has left and pissing away what good will he has left with independents. To that point, this is something absolutely terrible for Trump. In his first term, he maintained pretty steady 45-55 approval with independents, and around 75-80 approval with Republicans(won't even mention Dems, they've always hated him). This term, his approval amongst Republicans maintains really strong at 85-90, but amongst independents it's 35-40. If you're Trump, this is the big blinking red light, because while Republicans didn't like Trump the first time around, they still voted for him 3 times in a row. Independents have no such convictions.
This is beyond disgusting and reprehensible. Trump is a crazy old man doing crazy shit to cement some sort of legacy before he leaves office forever. I hope he's voted out ASAP.
He is morally bankrupt.
And I hate to admit it, but I was kind of excited when he got elected this time because I naively thought they'd actually clean up government waste with Elon. Instead he just pissed Elon off, just like he has many other brilliant people...
My concern is politics will swing WAY too hard to the left after this and we have to put up with another decade of bullshit about hurt feelings etc.
Personally, this fucking clown has cost me huge amounts of $ with his stupid fucking tariffs too.
Completely agree. The GOP had the opportunity to prove that they were the party of common sense and potentially cement the executive and legislative branches for the next decade or more. But instead, they are making voters choose between a party that doesn't know the difference between a boy and a girl or a party that just creates instability and severely fucks up the status quo.
Yeah and as annoying as woke bs is, this is a lot worse because it impacts my wallet.
This is the tough part, he's over-reaching way too far and that just means the pendulum is likelier to viciously swing back towards the failed policies / socialism of the left. He's pushed the envelope enough, it's time to back off and be moderate right instead of far right. If he pivots now, he MIGHT be able to salvage the mid-terms (more likely not, but at the very least could salvage the next presidency)
I agree, I disliked that era strongly too...and now we will go right back to it because he's off his rocker.
Don't ever underestimate the Democrats' ability to disappoint.
But the problem with the current administration is that there are no moderate conservatives at the White House. During Trump's first term, he had intelligent people working for him, and it still fell off the rails at the end. This time, he has utter imbeciles like Stephen Miller, Kristi Noem, Karoline Leavitt, Greg Bovino, Pete Hegseth, Pam Bondi, Howard Lutnick, and RFK, Jr. Just the absolute dregs of the political class.
The midterms are gone. The question now is if the party can recover in time for Vance or whoever to run in 2028. Historically, Trump's lieutenants do not get anywhere near the turnout or the admiration that Trump does, and who knows if he'll even be willing (or alive) to stump for the party after he's gone.
They know they're in trouble too. That's why projected spending in the midterms is going to be through the roof. That's why Kristi Noem is about to be fired and replaced by "I Didn't Take A Bribe" Tom Homan. That's why Pam Bondi wants the Minnesota voter rolls. That's why Trump backed off on Greenland. Their election people are not dumb. They can see it coming.
I am trying keep track of all the outrageous things we are currently doing. Let me see if I have it right, we are threatening Venezuela, Columbia, Greenland, Iran and the Federal Reserve at the same time. The US government is unhinged.
I love seeing both sides say "when my side is doing it, it's because it's a legitimate investigation with no political bearing, but when the other side does it, it's completely politically motivated and there's no reason other than a political hit job that this could have been done!"
Yeah, I try not to argue online for the sake of my sanity, but I do enjoy grabbing the popcorn and watching it unfold.
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