But remember a third-grader could do this job just as well......Job Description: Must be able to create new money then hand it out...THAT'S ABOUT IT.
source? I call BS. Might as well come to be, but not yet. No announcements I can see, nothings moving
Oh man i would love for this to be true and the market not react at all because the market already knew they were doing it.
Damn, I've been saying this since 200x (I can't remember when, it's been so long). But Powell really needs to go. That guy just don't have the balls to do anything. My alter ego tells me he's just a puppet. Someone else is pulling his strings.
I believe the market will react violently if Powell is replaced, but not on the announcement, but after the new Fed chief opens their mouth. Remember what happened in Feb 2018? Yellen was replaced by Powell, and the markets didn't react negatively until he opened his yap shortly thereafter. Because there was UNCERTAINTY. The negative reaction was fairly short-lived however, only a couple of weeks. The markets always hate UNCERTAINTY. If Powell will be replaced, I expect the same scenario to play out. This is provided, of course, that the debt ceiling is suspended or raised next month.
I know *you* remember I don't care what happens as long as it's volatile! And with the debt ceiling (which will 100% get extended), I'm sure there will be room for volatility.
that pedicap driver should consider throwing his name in the hat (for the FED chairman nomination). He shouldn't let his experience and knowledge gained from watching CNBC and postings on elitetrader gone wasted. or our resident economist "piejoe" could be the FED chairman. He sounds like a professor!
Yeah.. the Dems want to get rid of Powell because he's not "money-printing, dovish enough"... gonna replace him with someone who will REALLY "print the money".. (That's because other countries who have "printed money to the max" have gone on to huge wealth and prosperity! The list is long. Look it up.)
I have never been a fan of Powell's, who in my opinion follows too closely in Greenspan's footsteps. Powell seems not to have learned the lessons of the Financial Crisis and Great Recession. He has been a bad leader for he Fed. His background in finance law and politics is well suits him to being a voice on the Fed's BOG, but ill suits him to head the Fed. I particularly don't like his implementation of indirect QE. The Fed, in modern times, has been blamed for stock market bubbles. The Fed is usually not the proximate cause of such, but in the case of Powell's Fed I think it can be fairly argued that the Fed is the proximate cause. That is to say a direct link exists. I hope he is replaced with someone who has a better overall grasp of the economy and money theory. If he is, I expect the market will cool in response. The hugely profitable loans being made to Investment Banks will be curtailed, which would bring increased stability and lowered risk.