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What’s the mismatch? Biden got a trillion or two in handouts and Powell bought up all the bonds. Now Biden is taking a step back (not completely but not another

What’s the mismatch? Biden got a trillion or two in handouts and Powell bought up all the bonds. Now Biden is taking a step back (not completely but not another trillion) and Powell said he’ll start selling.

nemo44x 4y ago
Halting rent and college tuition paybacks while also spending trillions for people not to work and businesses to not open while the fed also cut interest rates continuously. They decided to test MMT and it failed so badly.
- jeffbee 4y ago
  Now they're talking about college loan forgiveness which is going to directly goose home prices, all over again.
- ahoy 4y ago
  Any landlord who finds themselves so burdened by missed rent payments ought to just sell their properties. The market's never been better. They can use the windfall to start a real business instead.
- vdnkh 4y ago
  Trump's tax cuts certainly didn't help either. Or let's just blame it on "handouts" again.
  - redisman 4y ago
    And ballooning debt and minuscule rates during the “good times”
- andrekandre 4y ago
  > They decided to test MMT and it failed so badly. is this in reference to inflation of housing prices or in general?
01100011 4y ago
Pretty sure the covid stimulus passed while trump:Biden was/is president is like 2:1. Not giving either one a pass though because Biden reappointed Powell and failed to give Powell the political direction to raise rates late last year when it was obvious inflation was anything but transitory.
- jt_b 4y ago
  The Federal Reserve is independent of the executive branch's political aims. Its mandate is to keep inflation and unemployment in check with the tools it has at its disposal (interest rates, balance sheet).
  - 01100011 4y ago
    > The Federal Reserve is independent of the executive branch's political aims. That's the theory anyway. The fed chair is appointed by the president and still has some accountability to the political machine. It is independent in many ways but it is not truly independent. > Its mandate is to keep inflation and unemployment in check Yes and now it is also trying to fight climate change, wealth gaps, and other "ESG" goals.
- elephanteeee 4y ago
  Even if you’re right that’s kind of misleading. Trump’s stimulus and Powells actions were basically necessary to prevent another 2008style economic collapse. Biden’s came as “voluntary” unemployment was already high and during a recovery. Either way that was another example of the fed and exec branch working together. However anyone’s feelings are about politics and the things said, us policies were quite competent during the pandemic. For anyone interested trillion dollar triage is a great book.

nemo44x 4y ago

Halting rent and college tuition paybacks while also spending trillions for people not to work and businesses to not open while the fed also cut interest rates continuously. They decided to test MMT and it failed so badly.

jeffbee 4y ago
Now they're talking about college loan forgiveness which is going to directly goose home prices, all over again.
ahoy 4y ago
Any landlord who finds themselves so burdened by missed rent payments ought to just sell their properties. The market's never been better. They can use the windfall to start a real business instead.
vdnkh 4y ago
Trump's tax cuts certainly didn't help either. Or let's just blame it on "handouts" again.
- redisman 4y ago
  And ballooning debt and minuscule rates during the “good times”
andrekandre 4y ago
> They decided to test MMT and it failed so badly. is this in reference to inflation of housing prices or in general?

01100011 4y ago

Pretty sure the covid stimulus passed while trump:Biden was/is president is like 2:1. Not giving either one a pass though because Biden reappointed Powell and failed to give Powell the political direction to raise rates late last year when it was obvious inflation was anything but transitory.

jt_b 4y ago
The Federal Reserve is independent of the executive branch's political aims. Its mandate is to keep inflation and unemployment in check with the tools it has at its disposal (interest rates, balance sheet).
- 01100011 4y ago
  > The Federal Reserve is independent of the executive branch's political aims. That's the theory anyway. The fed chair is appointed by the president and still has some accountability to the political machine. It is independent in many ways but it is not truly independent. > Its mandate is to keep inflation and unemployment in check Yes and now it is also trying to fight climate change, wealth gaps, and other "ESG" goals.
elephanteeee 4y ago
Even if you’re right that’s kind of misleading. Trump’s stimulus and Powells actions were basically necessary to prevent another 2008style economic collapse. Biden’s came as “voluntary” unemployment was already high and during a recovery. Either way that was another example of the fed and exec branch working together. However anyone’s feelings are about politics and the things said, us policies were quite competent during the pandemic. For anyone interested trillion dollar triage is a great book.