Fannie Mae/Freddie Mac chair urges Jerome Powell to resign from Fed

[Hol]

Fannie Mae and Freddy Mac Chairman William Pulte on Friday expressed support for Jerome Powell's resignation as Fed chairman amid reports he was mulling such a move.

"I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom," he said in an official statement.

His statement comes amid Powell's longstanding disagreements with President Donald Trump, who has repeatedly pressed him to lower interest rates due to low inflation and strong jobs growth.

Fannie Mae/Freddie Mac chair urges Jerome Powell to resign from Fed

Treasury Secretary Scott Bessent and National Economics Council Director Kevin Hassett have emerged as possible contenders to replace him.

justthenews.com

 

[Tall Timbers]

Maybe the reason Trump is sometimes a bully is because he's used to getting results by behaving in that manner.

While I believe that Powell has exercised partisanship in spades over the years, I don't believe current interest rates should be lowered. The main reason why Trump wants them lowered is because the USA would save a bundle on interest on our untenable debt. However, the economy appears to be strengthening under Trump's leadership and that's when traditionally rates are slowly raised to try and keep the economy from overheating. Rates are lowered to give a boost when economic indicators point to recession. While the deep state has been praying to their gods for a recession, that doesn't appear to be the direction we're headed in.

Rates lowered to where Trump wants them could light a big fire under this economy. Maybe a super hot economy wouldn't be such a bad thing, but it usually ends badly when things get too hot because humanity has a tendency to way over do things...

 

[Hol]

Growth in manufacturing and a general boost to business is the plan I guess. It’s a plan to outrun the debt. Will it work?

 

[Tall Timbers]

Will it work?

My guess would be no. Historically, when tax receipts increase, so does govmint spending. We human beans are just too imperfect to act in our own best interests, at least at the govmint level.