The Fed is coming in hot trying to build a preemptive case for independence. This is not new. They have done this in the past to clear Wall Street fears. This is an interesting economic conundrum for Trump’s economic plans and control over the economic results he expects to see. He might be somewhat neutered on certain economic matters other than trade and tax policy. The Fed has gotten inflation close to the zone of 2%. The balance sheet is still a mess, but coming down. Will Trump insert himself into the mix and try to get interest rates down too fast? Or will his actions on “unleashing business” cause an increase in inflation and cause Powell to struggle to tamp down inflation? “An independent central bank is one that can carry out monetary policy insulated from pressures arising from other parts of government or elsewhere. When there is central bank independence, the role of national or jurisdictional governments is typically one of representing the public in specifying a mandate for the central bank and holding the central bank accountable by monitoring its performance and appointing central bank leadership. In this arrangement, the public, through representative government, specifies the overall objectives that central banks should pursue.” Speech by Governor Kugler on central bank independence and the conduct of monetary policy Trump has softened his comments, but he will do so in different ways like X or Truth Social. "I think I have the right to say I think you should go up or down a little bit. I don't think I should be allowed to order it, but I think I have the right to put in comments as to whether or not the interest rates should go up or down," the former president said during a Bloomberg News interview at the Chicago Economic Club. https://www.reuters.com/world/us/tr...eigh-not-order-fed-rate-decisions-2024-10-15/
Trump knows monetary policy better then some damn Washington beaurocrats.* * He learned it by bankrupting numerous businesses.
Separation of powers and independence are over rated anyway. Just have him rule by decree. His worshippers will love it.
since Reagan the number of Executive Orders has gotten way out of hand , but have been allowed( I am not a fan of them), however, they all come with a sunshine date of the end of a Presidential term as only Congress has the power to make laws
I guess you are confusing the fed with the military. When congress sez "audit" the fed, it means bring 'em in, roll the cameras & make ass clowns of themselves. the FED & all 12 branches are audited by KPMG Federal Reserve System Audited Annual Financial Statements
I did not know this, but good lord not a congressional shitshow. I can’t imagine the grandstanding. I do want to look into these FAM accounting standards to understand how they differ from GAAP.
here's a fun fact. if the federal gov used GAAP, the deficit increased by 11 TRILLION in 2004! But, they skirt contingent liability rules that firms must abide by. In fact, peeps that bitch about the debt at what 35T, ho ho! In a GAAP world that ain't even close.
I agree with what you are saying there but if you valued all of the land owned by the US Government, how would that impact their balance sheet. And yes I know that government entities don't report the same way under GAAP.
