this post was submitted on 26 Nov 2025
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dems would bail em out too, money printer Powell was in power under Bush and Obama...that's no accident.
fact is the entire US economy is predicated on the idea our financial markets remain unregulated, so our country can act as easy exit liquidity for the rest of the world. That's been the underpinning of our entire economy since atleast the end of WW2
Powell was appointed by Trump 1.0
Powell was appointed as one of the Federal Reserve governors under Obama, I think that's what IronBird is referring to.
https://en.wikipedia.org/wiki/Jerome_Powell
Powell was chosen by Obama too, might have misremembered Bush.
He wasn't chair under Obama. Bernanke was. He was appointed by Bush and he was succeeded by Janet Yellen who Obama actually appointed.
...and the president doesnt set the chair, the point is republicans or neolibs are the ones who have chosen every person in the fed, they (the fed) have always had one goal and isnt "keeping inflation in-check" or "watching the health of job market", those two things aren't even remotely connected so ask yourself why/when that dual mandate came down and for what purpose it serves.
The president absolutely appoints the Fed Chair
https://en.wikipedia.org/wiki/Chair_of_the_Federal_Reserve
huh, not sure how i got that one mixed up. wtf was i thinking of...maybe just the rate cut process, they all vote but the chair doesn't have sole power or anything.
point is...their mandate is bullshit, they're not there to serve the american people. they're there to create volatility and keep the money printer going, nothing more or less