Powell privately adamant that he will serve out his full term at the Fed | Metals Mine

  • Powell privately adamant that he will serve out his full term at the Fed

    From cnn.com

    Federal Reserve Chair Jerome Powell has told multiple associates and allies that there’s no chance he will bow to President Donald Trump’s calls for him to resign, vowing to withstand several more months of the president’s unprecedented, multi-pronged assault over Powell’s refusal to lower interest rates. The top central banker has privately argued that he must stay put for more than just personal reasons — the fate of his chairmanship is now linked with that of the Fed’s overall independence, according to people familiar with the discussions. He has said that stepping down now would undermine the ... (full story)

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CycleGF
Jul 25, 2025 7:48am
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Amazing I like that ... The Fight Begins ... The Federal Reserve against the White House
The Core Durable Goods and Durable Goods orders declined month on month by a huge margin ...The Crack is Showing in the US Economy...Next Week , there will.be a blood bath in the . markets
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Bones
Jul 25, 2025 3:36pm — Edited
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Quoting Ryder
The Fed should be abolished and the US should go back to managing its own money supply, like it was before 1913. US pays over $1T a year in interest to the owners of the Fed. Where is the motivation to reduce interest rates. Under the covers, the Fed is owned by a group of international, powerful families in Europe, England and Asia. The US constitution gives Congress the power to manage money and money supply. The Fed was created as an act of Congress in 1913 and could be eliminated by an act of Congress. One could argue that the Fed is unconstitutional....
You literally got everything wrong, except that you don't need the FED.
The Fed does not control the money supply, and it does not collect interest on bonds, except for after the introduction of QE. The FED only charges a set fee, everything else is sent back to the treasury.
Commercial banks control the money supply.

The system you actually want is one where no single person sets the price of money, and certainly not any political person.
The FED are bad, but TRUMP is worse.
It should be a totally free market operation.
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Bones
Jul 26, 2025 7:51am
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Quoting Forgediron
{quote}Well yes and no. The commercial banks create money through loans, but this happens within the general framework of the Fed. Lower interest rates from the Fed, encourages banks to lend more money. The Fed setting reserve requirements also impacts on banks ability to lend/create money. The Fed buying and selling securities also increases/decreases amount of money in the banking system.
The only thing stopping a bank from making a loan, in reality, is risk—the risk of not being repaid. Yes, since QE, the fed have been active in the markets (not usual), creating way too many reserves, which are overflowing.
This is why they have been paying interest on reserves since 2009. This is a large part of the losses the FED are making right now.
Also, it's is why they're doing QT.
If you think about a bank loan, it's secured on whatever it's loaned on, and printed out of fresh air. If you don't pay it, they don't go to reserves to recover it, and there is a 0% reserve requirement. The framework you talk about is a mirage.
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Forgediron
Jul 25, 2025 4:12pm
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Quoting Bones
{quote} You literally got everything wrong, except that you don't need the FED. The Fed does not control the money supply, and it does not collect interest on bonds, except for after the introduction of QE. The FED only charges a set fee, everything else is sent back to the treasury. Commercial banks control the money supply. The system you actually want is one where no single person sets the price of money, and certainly not any political person. The FED are bad, but TRUMP is worse. It should be a totally free market operation. {image}
Well yes and no. The commercial banks create money through loans, but this happens within the general framework of the Fed. Lower interest rates from the Fed, encourages banks to lend more money. The Fed setting reserve requirements also impacts on banks ability to lend/create money. The Fed buying and selling securities also increases/decreases amount of money in the banking system.
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Ryder
Jul 25, 2025 10:07am
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The Fed should be abolished and the US should go back to managing its own money supply, like it was before 1913. US pays over $1T a year in interest to the owners of the Fed. Where is the motivation to reduce interest rates. Under the covers, the Fed is owned by a group of international, powerful families in Europe, England and Asia. The US constitution gives Congress the power to manage money and money supply. The Fed was created as an act of Congress in 1913 and could be eliminated by an act of Congress. One could argue that the Fed is unconstitutional. If you look at the US deficit of some $36T, it can all be attribute to interest on its money supply paid to the owners of the Fed over the past 112 years. Read "The Creature From Jekyll Island" (available on Amazon) if you want to understand the history of the Fed.
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Forgediron
Jul 25, 2025 4:08pm
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Good on you Powell.
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PXDTrader
Jul 25, 2025 9:09am
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Yes, for stupids who do not know that a presidend cannot change the Fed Governor, and mostly they do not know how the FED has been created. Probably, most comentaries are from a 3rd world, which instead to be busy with their problems are busy with anything else but theirs. The Fed against the WH is a subject for idiots.
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Trader#C762
Jul 26, 2025 12:58am
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The FED and its decisions are not only Powell!!!
Why do they not stand all behind Powell on TV when the next announcement is done????
I am not sure that the decisions are highly influenced by Powell.... there other thinking people in this organization.
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