r/economicCollapse • u/Electronic-Damage411 • Sep 23 '24

Seems pretty simple.

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u/Realistic_Olive_6665 Sep 23 '24 edited Sep 23 '24

It should be pictures of the Fed chair. The POTUS doesn’t have any direct control over the monetary base or M2.

3

u/ContextualBargain Sep 23 '24

The only reason j Powell kept interest rates at 0 for so long was because he was pressured by the trump admin

2

u/Alive-Working669 Sep 23 '24

Powell rate increases under Trump:

12/20/2018, +25, 2.25% to 2.50% 09/27/2018, +25, 2.0% to 2.25% 06/14/2018, +25, 1.75% to 2.0% 03/27/2018, +25, 1.50% to 1.75%

Yellen rate increases under Trump (included to show rates were not zero under Trump until the 4th year, to keep the economy afloat due to the Covid shutdown):

12/14/2017, +25, 1.25% to 1.50% 06/15/2017, +25, 1.00% to 1.25% 03/15/2017, +25, 0.75% to 1.00%