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Nobody wants to be the next Jimmy Carter who lets the fed raise interest rates to stem inflation because it invariably triggers a recession that gets said presi
by wayoutthere 5y ago
Nobody wants to be the next Jimmy Carter who lets the fed raise interest rates to stem inflation because it invariably triggers a recession that gets said president and his party voted out of office. So rates will stay perpetually low.
- ALittleLight 5y agoIt's very sad to consider young men dying for their country while old men are too afraid to risk four years off their political career for it.
- politician 5y agoA significant number of our elected representatives are women.
- ameetgaitonde 5y agoThe Federal Reserve Board Chairman is appointed by the President of the United States, not Congress. https://www.federalreserve.gov/aboutthefed/bios/board/default.htm https://www.federalreserve.gov/aboutthefed/bios/board/defaul...
- deleted 5y ago[deleted]
- shepherdjerred 5y agoThe parent was referring to US presidents which have all been males.
- seanmcdirmid 5y agoEh, we had high interest rates in the 90s and it worked out. Also, involving politicians is a huge mistake, the Fed needs to recapture its independence so it can make tough decisions. As for the rest, we as a society have become too petulant, expecting a forever boom and doing hardly anything to mellow out the boom bust cycle. And it’s not just the USA either.
- lazide 5y agoIf you never stop drinking, you never get a hangover? If we get hyperinflation, maybe housing will be affordable again? Tough time for retirees and folks who put money in the bank already (and not the stock market), but what else is new.
- wbsss4412 5y ago> If we get hyperinflation This isn’t hyperinflation, nor is it on the precipice. It’s not in the same ballpark, it’s not in the same league. The only way the US experiences hyperinflation is if the petrodollar system completely collapses along with several other shocks to the system at the same time. Not impossible, but completely separate and distinct from current fed policy.
- lazide 5y agoIt currently isn’t, hence the ‘if’.
- wbsss4412 5y agoThere are a lot of ‘if’s’ in the world. In the context of this conversation it was pretty clear that this if was indicating some level of real likelihood. My point was that it just isn’t likely at all. No more than it was before this year anyway.
- lazide 5y agoWe’ve got one large ‘once in a century’ shock going on now. Bretton woods was less than a century ago. I don’t know how we would even quantify in any real what odds on any of these events practically speaking. Do you?
- wbsss4412 5y agoThis isn’t even the biggest inflation shock in the last 50 years. A lot of the inflation we are seeing is due to base effects from last year. Oil prices literally went negative at one point and are only back to pre fracking boom levels.
- podgaj 5y agoDemocrats are the Charlie Brown’s of politics. And Republicans are Lucy.
- podgaj 5y agoI guess getting downvoted on this means there is no chance of a third party....
- wayoutthere 5y agoNot with first past the post voting and the electoral college. It was a fine voting system in the 18th century, but has not scaled well in the modern world and caused problems basically from day one.