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[CNBC] Fed Chair Powell says he’s under criminal investigation, won’t bow to Trump intimidation

Discussion in 'BBS Hangout: Debate & Discussion' started by Ottomaton, Jan 11, 2026 at 8:02 PM.

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  1. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking

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    Powell has done MASSIVE damage to the economy by not lowering rates. Huge damage. Of course he lowered rates late in 2024 to help Kamala win... And now Powell wants to pretend he's an honest dealer? Nah, sorry amigo, we're not buying it.

    Trump has been 100% right on economic policy and interest rate policy since Day 1. Powell is just embarrassed to admit it.


    GOOD DAY
     
    #21 El_Conquistador, Jan 12, 2026 at 1:59 PM
  2. JuanValdez

    JuanValdez Member

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    Like Trump?
     
    #22 JuanValdez, Jan 12, 2026 at 2:18 PM
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  3. ima_drummer2k

    ima_drummer2k Member

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    Can we just rubber-stamp this phrase for the next 3 years? I have a feeling we're going to need it early and often.
     
    #23 ima_drummer2k, Jan 12, 2026 at 2:32 PM
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  4. Commodore

    Commodore Member

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    In theory yes, but Trump isn't doing much different than what he said he would during the campaign as far as I can tell.
     
    #24 Commodore, Jan 12, 2026 at 2:33 PM
  5. Commodore

    Commodore Member

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    who does the Fed answer to?
     
    #25 Commodore, Jan 12, 2026 at 2:34 PM
  6. TheRealist137

    TheRealist137 Member

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    They are an independent organization, by design, they are not supposed to answer to the People or the President. What are you insinuating?
     
    #26 TheRealist137, Jan 12, 2026 at 2:46 PM
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  7. Commodore

    Commodore Member

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    That they are an organization with immense power over the people, and answerable to no one.
     
    #27 Commodore, Jan 12, 2026 at 2:48 PM
  8. TheRealist137

    TheRealist137 Member

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    Yes and that is by design. The "people" do not know how monetary policy works. Neither does Trump.
     
    #28 TheRealist137, Jan 12, 2026 at 2:49 PM
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  9. Ottomaton

    Ottomaton Member
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    Why do you think it was set up that way, and why has it been so successful?

    You prefer the Zimbabwe model?

    The last President who was able to dictate to the Fed was Richard Nixon pressuring Arthur F. Burns. That gave us 1970's stagflation.

    Paul Volker went back to telling Presidents to pound sand and we've spent the last 30+ years stagflation free.

    We don't submit operating procedures for nuclear reactors to popular vote for exactly the same reason. I don't want Mr Beast and PewDiePie deciding whether we should insert or remove the control rods at any given time. Don't forget to smash that like button!

    Blowing up the Fed would do more damage to this country than one measly nuclear reactor meltdown.

    Sometimes people with specialized technical training are required to run the super-complicated finicky and dangerous machine. They don't just wake up one morning and decide, "gee, today feels like a good day to change rates."

     
    #29 Ottomaton, Jan 12, 2026 at 2:56 PM
    Last edited: Jan 12, 2026 at 3:22 PM
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  10. juicystream

    juicystream Member

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    Almost every construction project goes wildly over budget. Trump's ballroom has already doubled in estimated cost. Nobody wants to upfront with all of the unexpected costs that should totally be expected. They are historic buildings. They are government buildings. Everything that can go wrong will go wrong. Granted the contractors will make a fortune, as they usually do off of government work.
     
    #30 juicystream, Jan 12, 2026 at 2:58 PM
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  11. rimrocker

    rimrocker Member

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    A bunch of former officials from previous administrations and Phil Gramm signed a statement that includes the following passage:

    https://jointstatement.substack.com/p/statement-on-the-federal-reserve
     
    #31 rimrocker, Jan 12, 2026 at 4:05 PM
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  12. Amiga

    Amiga Member

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    Completely irrelevant. You seem to not understand the Constitution. Even if he won 100% of the vote, it wouldn’t change the law. If you don’t like it, push Congress to amend the Federal Reserve Act. Until then, the Chair can only be removed for cause.
     
    #32 Amiga, Jan 12, 2026 at 4:16 PM
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  13. Amiga

    Amiga Member

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    This is false. The Fed is accountable to Congress and operates within a framework set by law. The President appoints the Chair, but can remove them only for cause.

    Do you also want brain surgeons, airline pilots, and nuclear plant operators chosen by popular vote? Or would you rather rely on their expertise, with oversight to ensure they follow the law and act ethically?
     
    #33 Amiga, Jan 12, 2026 at 4:38 PM
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  14. JuanValdez

    JuanValdez Member

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    By trying to preserve the independence of the Fed, is Tillis doing something different from what he promised when he ran for office?

    Was going to respond by saying exactly this.
     
    #34 JuanValdez, Jan 12, 2026 at 4:51 PM
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  15. AleksandarN

    AleksandarN Member

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    Why do you hate Trump so much
     
    #35 AleksandarN, Jan 12, 2026 at 8:04 PM
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  16. AleksandarN

    AleksandarN Member

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    He wants the president to have control over the central bank. Sounds a lot like a communist
     
    #36 AleksandarN, Jan 12, 2026 at 8:08 PM
  17. Nook

    Nook Member

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    This is a major story. Arguably a bigger deal than Epstein, Ukraine or Iran for the American people and our Republic.
     
    #37 Nook, Jan 12, 2026 at 8:26 PM
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  18. Nook

    Nook Member

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    Your authoritarian fascist shtick has grown old. If you want a strong man dictator that rules unconditionally and pushes nativism, move to Russia, India or Turkey… but that isn’t what the USA is about. Your political positions are nothing new, every 75-100 years it sweeps the USA until it’s sent to the rubbish bin for a few generations.

    The USA has checks and balances, the USA has competitive and fair elections and a somewhat independent Judiciary- you and your band of losers can’t hack in a competitive free country.
     
    #38 Nook, Jan 12, 2026 at 8:36 PM
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  19. MadMax

    MadMax Member

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    It’s all a distraction from what he most wants to make sure you never learn….tick tock
     
    #39 MadMax, Jan 12, 2026 at 9:14 PM
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  20. Commodore

    Commodore Member

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    #40 Commodore, Jan 12, 2026 at 10:53 PM
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