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> I see no way Biden's government will accept an economical collapse at the end of the second term. The Fed doesn't take orders from the President though (and
by lamontcg 4y ago
> I see no way Biden's government will accept an economical collapse at the end of the second term.
The Fed doesn't take orders from the President though (and prides itself on that) and most Presidents are very reluctant to be seen as giving orders to the Fed. It is likely that Biden will leave the Fed alone up until an economic collapse appears, at which point it will be too late and the Fed will already be planning on cutting rates.
- nverno 4y agoBiden would be in a position to replace Powell in a couple years, though, should he be reelected.
- lamontcg 4y agoAnd Biden would be crucified in the business pages if he were seen to be playing politics with the Fed that blatantly.
- illiac786 4y agoWe're lucky he cares about that. Being unashamed is the new fashion since Trump (or before that even) and the next president may care very little about the business pages...
- kodyo 4y ago> The Fed doesn't take orders from the President though (and prides itself on that) Acting as the currency manipulator for a purported Republic, being unaccountable to the electorate is one of its most repulsive features.