Kevin Warsh wins Senate confirmation as the next Federal Reserve chair

That and he partied with Trump on Epstein island and his firm still has financial ties to Epsteins estate.

Thanks, you hit the nail on the head!

Also in the Epstein files …

We're not asking anymore. It's just implied.

Is that the guy that’s been pushing the Greenland stuff?

Another f****** Pedo…. We’re lousy with Conservative minded pedo’s.

Of course, the party of pedophiles continues to prosper

Father in law not father

Fill the swamp

And even better if you have debt, we can just weimar away our student loans.

From what i understand Powell is still on the board and the board actually doesn’t need to agree with the chairman. It’s just been normal to vote with him… could be interesting times ahead if they get the ick from his policy pushes…

About to be? Look at the value of the dollar since Trump started his tariff nonsense. When Trump entered the White House, 1 Us Dollar equaled .98 Euro. Today, it’s .85. That’s a 14% decrease in like a year and 4 months….primarily all self inflicted by choice.

Money being worth less hurts those who have little of it the most. The wealthy have their money in things that aren't money.

He's one vote on the council, he may be able to affect the markets by signaling things but he still can be outvoted. The board already reinstalled the previous fed board because they were afraid of manipulation. We'll be fine.

I’ve already divested from most American assets for many reasons, but this is just one more reason in the balance.

https://treasurydirect.gov/marketable-securities/tips/ https://www.investopedia.com/terms/r/realasset.asp (Not financial advice)

Not the democrats since they have no power. Joe Biden and Obama /s

Theoretically, as a joke, the blame-game will last until the voters responsible are savaged mercilessly by Immortan Sleepy-Joe's WarBoys in the post-apocalypse for constantly and consistently voting in the architects of the end.

How could Hunter Biden's hog leg do this to us?!

Treasonous piece of garbage he turned out to be

He suffered brain damage and now votes along with the GOP. Feels like a prequel to Idiocracy

When he ran, it was between him and Oz

Fetterman for all intents and purposes is already a member of the fascist party (GOP), he just hasn't gotten around to making it official.

And Chris Coons.

Yes I believe they all vote every fed meeting so it's not as easy as trump wants it

It means he can’t become the Fed Chair unless someone steps down first; they don't just create new positions. My guess is that he’ll join the Board after the other trump lackey drops and then move into the Chair role later. Even then, he might not have the votes—the Fed moves as a group on interest rates, and the Chair doesn’t have the power to override the rest of the committee.

Fed Chair cannot unilaterally make rate decisions. The governors vote and he can certainly apply pressure, they are under no obligation to do as he says

Yes, we’ve had first inflation, but what about second inflation?

Am I misunderstanding, but I thought the interest rates were voted on by the board of governors- not just the chairman

I've lived in Argentina.  At least the beef was c****. Was....

i wish more people knew this.

Hopefully this continues to be true.

Unfortunately, trump has spent this entire term so far showing that those checks and balances are pretty meaningless and the rules/laws meant to prevent bad actors from f****** things up are ignored because the people who would enforce them are not interested in doing that. I would be genuinely surprised if they don't just cut the rates, blow up the f****** economy and then some lawsuits are filed but take years to work their way through the courts before the SCOTUS just says trump and his cronies are allowed to do anything they want

Heh... Pressure Warsh

You know it.

Look, it was just a fundamental flaw in how he saw the world, no big deal.

All the cool kids call it Private Credit now. It's only $40 trillion. Adjusted for trumpflation that is ... oh ... oh no. We're fucked!

“Good” news is that he’s replacing Stephen Miran, so we just traded governor who wants rate cuts for another governor who wants rate cuts, 1:1. “Bad” news is that often Miran voted *against* certain rate cuts because he believed they weren’t deep enough, so Warsh may still tip the scales. And he may do even such even more, given the leadership role.

It's what the .01% have been working towards for awhile. They'd choose 10% annual inflation in perpetuity if they could. It concentrates wealth at the top since their asset values increase with inflation, while the cost of doing business (wages, servicing existing debt, etc) lags behind. They profit all of the in-between. In previous decades, the middle class had enough political influence for the mandate of controlling inflation to be taken seriously. Today, the .01% have more power than ever before, so that roadblock from the past has been effectively removed. Just a decade of sustained 5% or higher average annual inflation would cause the top 10% to represent around 80% of all consumer spending, and the top 1% to own between 80 and 90 percent of the stock market (55% today), with the top 10% owning close to all of it (up from \~90% today). For context: Just 2021 and 2022 alone were largely responsible for the top 10% jumping from representing 40% to 50% of all consumer spending. By contrast, the jump from 30% to 40% took decades. The growth of the economy is built on consumer spending. So what do you think happens to the rest of us when the economy reaches the point where the top 10% can sustain most all of it on their own?

Ronald is apparently the reason Trump wants Greenland too [source](https://finance.yahoo.com/news/fed-chair-billionaire-father-law-142434123.html)

Great fuckin question and where the f*** did this guy magically appear from?

At this point? I assume bribery or blackmail.

Or he becomes chairman in name only and the council votes against him. The chair of the fed doesn’t just dictate rates and so on. It’s voted on. It’s just the common habit that the council votes with the chairman. But it’s not a requirement. So we might see a lot of internal council politics spill out as the other members rebel against the chairman.

The chair just gets one vote on the committee that decides interest rates. He can’t just do what the president wants.

The dumbass knows *exactly* what he is doing, and that is making his rich friends even richer at the cost of the rest of America. Just like what happened in Russia.

>Fetterman is a DINO And nearly was a progressive democrat, before the stroke. There really needs to be more studies on brain damage and political ideology. I've read a few studies that had changed people from having previous liberal views to becoming more conservative, but I haven't come across with the opposite outcome-- conservatives becoming more liberal.

At this point its probably easier to name the people in Trump's orbit who wasn't connected to Epstein in some way.

That's like all trump nominees. Some judges he was appointing refused to say he can't run for president again

Which traditionally is why the fed chair leaves after his term instead serving out any remaining board time, but in this case I think it’s probably for the good.