Powell's closed-door Fed meetings spark lawsuit from Azoria Capital: 'Public deserves to know'

There is NO credible reason why the Fed should enjoy as much autonomy as they do. And they are far from bi-partisan politically speaking. They need and full and complete audit..

 

Terrible idea.
The meetings being private allow for frank conversations, if they are public they will become far more political, not less so. They can speak on their positions afterwards and high level notes are provided anyway.

 

What is to be gained by making it public?

 

Furthering the end of dollar hegemony?

 

What are you taking about? Powell was appointed by Trump and renewed by Biden….

 

Shiny shiny objects.

 

And he changed... You forgot that Trump made one fatal mistake in his first administration. He hired swamp creatures that ruined his first term and Powell was one of those mistakes.

 

What is wrong with swamp creatures?

 

Backroom deals that affect every living American is NEVER A GOOD IDEA. They need to be put under one of the agencies, or we need to make a new agency for them... for transparency and for accountability.

 

They aren’t back room deals, they are back room debates. There aren’t deals to be made, and if a member wants to make an argument like “we are gonna see a market bubble and eventual crash if we don’t raise rates” or “I fear the economy is on the precipice of collapsing without a large rate cut “ without causing panic or a self fulfilling prophecy, you need it to be private.
It also prevents people from grandstanding instead of doing their job. Someone with political ambitions would be far more likely to take a political stance in public, in private there’s little benefit. So there’s a better chance of a good outcome and people working together.

 

The judge denied it. Shocker. Of course they admit the reason they filed is yet another right wing conspiracy, they think they are purposely keeping interest rates high to harm Trump. Everything everywhere on both sides comes back to one guy, it’s beyond depressing. I never in my lifetime thought I’d see one person have so much power or fealty in this country.

But the judge publicly questioned whether they filed to create publicity for some fund they are creating. So that’s kinda funny.

Judge rejects bid by Trump ally to open Fed interest rate meeting to the public

 

Pro-deep state arguments are always so interesting to read. I immediately begin thinking, “how long did it take them to program him to say that?”

 

The programmed never seem to know that they are just that.

 

No change on rates. Mkt doesn’t like it. 9-2 vote. I presume still concerned on inflation? To trumps point, couldn’t they raise it if inflation takes off?

“The Federal Open Market Committee voted 9-2 to keep the federal funds rate set in a range between 4.25%-4.5%”

Today’s mkt….

 

There was a dissenter last year, but it is rare.

A lone dissenting vote on the Fed's rate cut marks the first split by a central bank governor in 2 decades